18 Small Business Grants for Minorities
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Minority Small Business Grants Explained:
Grants are an important source of money to small business owners and entrepreneurs. Grants to minority-owned businesses are key, not just to the businesses themselves, but to the overall economy. A recent analysis of Census Bureau data from 2017 showed barely 4 in 10 (41%) business owners were white males. Of the 30.5 million total business owners, 6.5 million were owned by men of color.
About 4 million more were owned by women of color. This means minority small business owners together make up about one-third of business owners in America. These include members of Asian, Black, Hispanic and other minority groups and communities. The remainder are white women entrepreneurs.
So there are a lot of funding opportunities available to minority business owners. And thousands of them are tailored specifically to minority businesses. These may meet eligibility requirements for business funding from government agencies and private groups. That’s free money.Here are some of the funding opportunities and grant applications available, including a few faqs about each of them:
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