post by:
Michael Goldstein
Are you a business owner looking to take your eCommerce store to the next level? Fortunately, there are a variety of grants available to help you achieve your goals. In this blog post, we’ll discuss where to find eCommerce grants, what they typically cover, and how to apply for them. Whether you’re just starting out or looking to expand your existing eCommerce business, this guide will provide you with valuable insights to help you secure the funding you need.
Why Should I Apply for an eCommerce Grant?
Suppose you have built your eCommerce business as a side hustle, and it’s still under that magic six-figure annual profit goal to allow you to quit your job. In that case, you could be the perfect candidate for an eCommerce grant.
You know you don’t have additional hours to invest in your business. You have maxed out your most valuable resource – you. The key to growing your eCommerce business to a level where you can quit your day job is to develop a team of freelance experts who can take many everyday tasks off your plate.
An eCommerce business grant can provide the fund you need to hire a team. You can use your newfound time to do what you do best – expand the vision for your business. You know – the dream you had when you began your venture – the one that dimmed as you took on all the diverse tasks of running your startup alongside your day job.
What is an eCommerce Grant?
There is “free” money available for eCommerce businesses through grants. The best feature of an eCommerce business grant is that you don’t have to pay it back. You also don’t have to give up any equity in your business. Note that some grants require the business owner to match all or a percentage of the funds awarded.
The downside of a business grant is that even with careful research and a meticulously prepared application, the grant agency can decline your application. Don’t let the risk of rejection deter you from learning more about business grants; your eCommerce business might be in the sweet spot for grant funding.
eCommerce Grant Sources in the U.S.
eCommerce business grants are available from the government and private sources. Remember that the larger the grant fund, the greater the competition. For example, a federal government agency grant fund is likely larger than a local or regional small business grant fund.
You can find everything you need about federal government grants at Grants.gov. Check your state government website for business funding resources. Don’t overlook other resources for grant information, such as your local chamber of commerce and non-profit business mentors at SCORE. Your business networking contacts can be invaluable throughout the grant application process.
You might be part of a demographic where you can qualify for special grants, such as the following examples.
Grants for Minorities
Instagram and the Brooklyn Museum have joined forces to award #BlackVisionaries Grants, ten grants totaling $650,000, to black artists, designers, and small business owners in the U.S.
Another grant example for minority business owners is the Capital One Business Grant Program for Black-Owned Businesses. Recipients each receive $10,000 to advance their businesses.
Grants for Women
If you’re a woman with an eCommerce business dream, check out WomenNet’s Grants. They offer six categories of grants, including monthly and annual payments and specific grants for startups, marketing, non-profits, marketing, and various business categories. The good news is that you only need to complete one application for all grant types. You can watch videos profiling past winners for inspiration.
Grants for Vets
In addition to the numerous government grants for vets, you may be eligible for a Warrior Rising Small Business Grant as a U.S. military veteran. Recipients receive mentoring and membership in a supportive entrepreneurial community of “vetpreneurs.”
Grants for Mixed Demographics
You may qualify for multiple demographic-specific grants. For instance, you have some great options if you’re a female veteran, such as the Veteran Woman Entrepreneur Grant in Texas. Women minorities can apply for grants and get entrepreneurial support at Hidden Star.
How to Apply
Whether you hire a grant writer or do it yourself, there are a few common-sense tips to maximize your chances of being awarded grant money.
- Do thorough research to be sure your eCommerce business and you are a match for the grant agency. You don’t want to waste valuable time completing a grant application if you don’t qualify.
- Contact past recipients of grants you are targeting to ask for tips on how to get approved.
- Make sure your application is complete and meets all requirements. Carefully review your application to correct all spelling, punctuation, and grammar errors.
- Don’t be late! Be sure to submit your application on or before the deadline. Usually, grant agencies automatically reject late or incomplete applications.
When to Apply
Most grants operate on an annual application cycle. Once you decide which grants look right for your eCommerce business, prioritize your application efforts based on their deadlines.
Conclusion
The business model that worked to get your eCommerce business to its current level differs from the business model you need to expand to the next level. Unless you have a venture partner ready to provide the next round of funding, an eCommerce grant could be your best bet.