Small Business Grants for 2024: What You Need to Know

Verizon Small Business Digital Ready — created in 2021 — provides under-resourced small business owners with mentoring, education, peer networking and other tools to help them thrive in today’s digital economy. Recently, Verizon announced $500,000 in grant funding through Verizon Small Business Digital Ready. Verizon estimates that it has helped over 200,000 small businesses since 2021, with a goal to help 1 million small businesses by 2030. Patagonia offers businesses that help to address climate change and improve the environment access to the Patagonia Grant Program designed to expand impact and encourage growth and change.
The yearlong fellowship program is for female founders of early-stage startups generating at least $75k in revenue. Fellows receive mentorship, virtual education, access to peer-to-peer networking, and a $5k grant. For pharmaceutical, scientific, or biotech startups, the National Institute of Health sponsors several grants throughout the year. You can search on their website for research grants, fellowships, and other resources such as career development.
The Small Business Empowerment Program from Operation Hope offers eight and 12-week entrepreneurship training programs with funding opportunities. FedEx hosts a small business grant contest to provide funding for ambitious entrepreneurs. The contest has tough competition, with nearly 18,000 applicants for the tenth annual grant in 2022. The U.S. Department of Health and Human Resources created Grants.gov in 2002. It’s an e-government program operated by the Office of Management and Budget. The program provides resource s and assistance for grant seekers to find and receive funding.
Learn from the Small Business Administration (SBA) how to start and fund a small business, from researching the market to launching your new business. The wholesale jewelry supply business Halstead is an annual award for emerging silver jewelry artists. In addition, up to five semi-finalists also receive $250 or $500 to help them promote their business. Applications are currently closed, but check the organization’s Grant Program page to see when applications for the next round open. You can apply any time during the year, and the selection committee reviews applications in January, April, July and October.
The Chamber of Commerce offers small businesses networking opportunities, advocacy and resources to encourage growth and expansion and connect with their communities. While each grant is different, many of them have similar application processes. Each year, FedEx gives 10 small business owners $30,000 each as part of the company’s annual grant contest. On top of that, one veteran winner will receive an extra $20,000 from USAA Small Business Insurance. Companies can also win a people’s choice award for a $1,000 FedEx gift card. The funds from the STTR grants are awarded in phases, with the first phase usually equaling between $50,000 and $250,000 for six months or a year of work.