When it comes to the many hurdles associated with starting a business, finding the right resources can make all the difference—especially for those who may also be juggling entrepreneurship and single parenthood at the same time.
The good news is there is some help available—including financial support—if you know where to look. From mentorship opportunities and financial support, there are resources available for small businesses and start-ups that can provide invaluable guidance and support. In fact, some of the support available is designed specially to help single parents or women who are trying to start (or grow) a small business.
Read on for five resources that can help single parents wherever they are on their entrepreneurial journey.
WomensNet
Since 1998, WomensNet has been empowering and supporting female entrepreneurs through their monthly Amber Grant, which distributes two $10,000 grants to deserving women-owned businesses every month. What’s more, at the end of every year, two of the previous recipients of the Amber Grant receive an additional $25,000 grant.
WomensNet also offers a list of tips to help you navigate the application process and provides state-specific resources tailored to your business needs—so that you can find even more support in your area.
Applications for the Amber Grant are available on the WomensNet website. In order to be eligible for a monthly award, applications must be submitted by 11:59 p.m. on the last day of that month. There is a $15 application fee, and grant winners are announced by the 23rd of the following month.
Small Business Development Centers
Your local Small Business Development Center (SBDC) is another great one-stop destination for all things small business. Not only do these centers offer a range of resources and services intended to provide small business owners with support, they can also help you secure extra funding your business may require to grow.
With established connections to local small-business grants, SBDC is the perfect place to find financing opportunities thatyour business may be eligible for. Local SBDC centers also provide counseling, technical assistance, and comprehensive training programs, which can be invaluable tools for an aspiring entrepreneur.
Visit the U.S. Small Business Administration’s website to find your local Small Business Development Center and get the guidance and support you need.
The National Association for the Self-Employed
The National Association for the Self-Employed (NASE) is an organization dedicated to supporting and empowering self-employed professionals and small businesses. Since 2006, they have awarded $650,000 in grant money to deserving businesses.
Their Growth Grant offers $4,000 every month for a chosen member of the NASE association, which can be used for marketing, expansion, hiring, and growing your business. NASE membership also comes with access to a plethora of tools and resources designed specifically to help small business thrive, and costs $120 per year.
Small Business Growth Fund from Hello Alice
Hello Alice is a free-to-use platform designed by and for small business owners. Not only does this platform offer helpful tools and resources, it also provides access to valuable funding opportunities that your business may be eligible for.
Their Small Business Growth Fund, for example, is a grant program presented through a partnership with the Global Entrepreneurship Entrepeneurship Network (GEN), Etsy, and Progressive. The fund is designed to help support small businesses like yours. Whether you’re looking to develop new products, upgrade your equipment or facilities, or hire new employees, the Small Business Growth Fund may be able to help take your business to the next level.
Grants awarded by the Small Business Growth Fund range from $5,000 to $25,000. To qualify, your business must be U.S.-basedand have less then $1 million in gross annual revenue. Applications for the second round of grants closed on July 21, 2023, so keep checking their website future application rounds.
HIGH FIVE Grant for Moms
The HIGH FIVE Grant for Moms is an international business grant competition presented by The Mama Ladder and Belly Bandit that is designed to support end empower moms who are serious about growing their business. The competition is held semi-annually and has awarded $32,000 in grants to mom entrepreneurs since 2018.
Applicants must be women caregivers—which includes first-time expecting mothers, stepmothers, and foster mothers—and own at least 50% of a for-profit product or service-based business. The application period for their fall 2023 competition is September 1–September 30 and three winners will be chosen to receive a $5,000 grant.
The Kitty Fund
The Kitty Fund was created in honor of Founder’s First CEO Kim Folsom’s mother, who passed away in March 2020. The fund offers micro-grants to moms who own and run an employer-based small business and have at least two or more employees.
Since its creation, the award amount has increased from $250 to $1,000. In 2023, 25 mother-led business owners will be chosen as recipients.
To apply, the CEO, president, or Business Owner must identify as a mother, and the business must be located in the United States and have a business annual revenue that does not exceed $5 million. The application period has already passed for their 2023 awards, but will reopen in March 2024.
iFundWomen
iFundWomen is a crowdfunding platform where women-owned businesses and their owners are able to raise money through rewards campaigns. Since this means your fundraising campaign will offer rewards in exchange for donations to support your business, it may be a good option for those who are operating product-based businesses.
iFundWomen also offers access to a variety of business grants and additional support resources, such as coaching, live workshops, and video services for business owners.
Grants.gov
Grants.gov is a database of government small-business grants that are administered by various federal agencies, such as the departments of Education and Veterans affairs, and it’s a great place to start your search for funding opportunities that could help out your small business. In order to apply for grants on the Grants.gov website, your institution will have to register for an account and make a profile. Once you’re signed up, your institution will be able to apply for any of the funding opportunities available on the site.
Don’t Miss Our Next Episode of Single Mom Sessions With Mia Taylor
Want to learn more about how to be a successful entrepreneur as a single mother? Be sure to tune into our next Single Mom Sessions With Mia Taylor on Friday, August 11 when Mia will be sitting down to interview single mom entrepreneur Kemah Duopu. Set reminder here.
Founder and CEO of Harmon Polish, Duopu is an inventive entrepreneur who has made major strides in the nail-care industry with her vegan nail polish company.
Duopu wanted to be able to sustain herself and be self-employedand after moving with her young son to Houston, she created her own business: Harmon Nail Polish.
At the start of her entrepreneur journey, Duopu struggled to succeed with no business knowledge or connections. As a first-time business owner, she often had to discover or research things on her own and learn through trial and error. Building capital was also a difficult challenge for Duopu.
Join us this week to learn more about Duopu’s journey to success.
