Business grants for women are financial awards that provide capital to female entrepreneurs to start, expand, and support businesses. These grants allow women to invest in their companies and build their professional capacity, with the goal of creating successful businesses that have the potential to create employment opportunities and contribute to economic growth.
Common sources of business grants for women include government programs, non-profit organizations, private foundations, and corporations. These organizations have made substantial investments in developing and cultivating female entrepreneurship.
The top five sources of business grants for women in 2023 are:
The Tony Elumelu Foundation’s Entrepreneurship Programme
The Tony Elumelu Foundation’s Entrepreneurship Programme is a grant program designed to support and empower African entrepreneurial talent. It provides grants to entrepreneurs between the ages of 18 and 35 in all African countries. The foundation provides up to $5,000 in seed capital, mentoring, and access to a global network of investors. Additionally, entrepreneurs may also receive access to training and workshops. The programme seeks to provide support and opportunity for African entrepreneurs, especially underserved women entrepreneurs, providing them with access to capital, mentoring, networks, and other resources.
To qualify for the Tony Elumelu Foundation’s Entrepreneurship Programme, you must meet the following requirements:
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- Applicants must be between 18 and 35 years old
- Applicants must be based in an African country
- Applicants must have a business idea that she is passionate about
- Applicants must have a well-structured business plan and demonstrate financial and market feasibility
- Applicants must submit a detailed application form that includes information about your background, qualifications, proposed project and financial requirements
To access the Tony Elumelu Foundation’s Entrepreneurship Programme, you can apply online at the foundation’s website (tonyelumelufoundation.org). You will need to provide a business plan, financials, and other supporting documents. Once your application has been submitted, it will be reviewed by a panel of experts to determine if you are eligible for the programme. If you are accepted, you will receive an email notifying you of your acceptance. The application for the Programme has an annual deadline.
She Leads Africa’s ‘She Hive Grants’
SheLeads Africa’s ‘SheHive Grants’ are designed to support female entrepreneurs and social innovators in Sub-Saharan Africa. The programme provides grants ranging from US$2,000 to US$15,000 to early-stage companies that are led by a woman entrepreneur. Additionally, the programme provides access to mentoring, workshops, and a network of experienced entrepreneurs, investors, and experts. To qualify for the grant, applicants must be based in Sub-Saharan Africa, have an innovative idea, and demonstrate financial sustainability, and impact potential. The application cycle runs from April to June every year.
To qualify for SheLeads Africa’s ‘SheHive Grants’, you must meet the following criteria:
- Your business must be based in Sub-Saharan Africa and led by a woman
- You must have a well-structured business plan and financials that demonstrate potential for growth
- Your business must also have evidence of impact and scalability or the potential to reach more people with your product or service
- You must demonstrate commitment to using the grant funds for your business development and explain how you will use the grant funds within 6 months of receiving them.
To apply for the SheLeads Africa ‘SheHive Grants’, you can submit an application online at sheleadsafrica.org. The application process includes a detailed questionnaire and a business plan template. Additionally, applicants must provide supporting documents such as financials and tax returns.
The United Nations Development Programme Fund
The United Nations Development Programme Fund provides grants to small and medium-size enterprises in developing countries. The aim of the fund is to promote economic growth and reduce poverty in the world’s least developed countries. The grants provided by the fund cover various activities such as the purchase of equipment and services for micro, small and medium-sized enterprises, as well as investments in skills development for entrepreneurs. The fund also offers grants for regional business initiatives, including training and capacity-building activities. To apply for a grant, interested applicants must submit an expression of interest form outlining the purpose and objectives for their project. The programme seeks to provide support and opportunity for businesses in developing countries, regardless of gender.
To qualify for the United Nations Development Programme Fund grants, you must meet the following criteria:
- Applicant’s business must be based in the least developed country
- Applicant’s project must have the potential to create sustainable economic growth and reduce poverty
- Applicants must demonstrate experience or capacity to implement the project and have access to private sector financing
- Finally, the project must demonstrate technical and financial viability as well as be able to provide data for monitoring and evaluation
To apply for the United Nations Development Programme Funds, you can submit an expression of interest form online at the UNDP website (www.undp.org). The form should outline the purpose and objectives of your project and provide supporting documents such as financials, business plans, and photos. Once your application has been submitted, it will be reviewed by a panel of experts who will decide whether or not to approve it.
Women’s World Banking
Women’s World Banking is an international non-profit organization that works to expand economic opportunities for women in developing economies. The organization provides access to financial and other resources needed to create thriving businesses, including capital, business support services, and mentorship. They also offer grants and loans to women entrepreneurs. Additionally, they provide training in financial literacy and entrepreneurship to women entrepreneurs.
To qualify for a grant or loan from Women’s World Banking, you must meet certain criteria.
- You must be an entrepreneur in a developing economy
- You must have a business idea that has a potential to drive financial inclusion
- You must possess the capacity to run a business
- You must have a solid business plan
- Your project must have the potential to generate income and create jobs
- Finally, applicants must demonstrate financial need and the ability to repay any loan
To apply for a grant or loan from Women’s World Banking, you can submit an application online at their website (www.womensworldbanking.org). The application includes sections on your background, business idea, and financial needs. Once your application has been submitted, it will be reviewed by a panel of experts who will assess the impact of the project and determine if you are eligible for funding.
The World Bank’s Women in Business Grants Programme
The World Bank’s Women in Business Grants Programme is an initiative to increase economic opportunities for women in developing countries. Through the programme, the World Bank offers grants to women entrepreneurs to help them start and expand their businesses. The grants are provided in the form of financial support, technical assistance, and mentorship.
To qualify for The World Bank’s Women in Business Grants Programme, you must meet the following criteria
- You must be an entrepreneur in a developing country
- You must have a business idea that has the potential for growth, and demonstrate financial and market feasibility
- You must demonstrate the capacity to implement the project and have access to private sector financing
- Your project must demonstrate technical and financial viability and have evidence of impact or scalability.
To apply for this programme, you can submit an online application at the World Bank’s website (www.worldbank.org). The application will require you to provide information on your background, qualifications, proposed project, and financials. Once your application has been submitted, it will be reviewed by a panel of experts to determine if you are eligible for the programme. If you are accepted, you will receive an email notifying you of your acceptance.
