Obtaining financing to grow or start an enterprise is often a snag for many women business owners.
But the Texas Woman’s University’s Center for Women Entrepreneurs (CWE) is doing its part to help change that by offering $5,000 grants to women entrepreneurs in the Lone Star State.
Texas-based, women-owned businesses can apply for a StartHer Grant. Women proprietors can seek 25 grants in the current round. The effort is aimed to spur economic development statewide by inspiring women entrepreneurs to pursue new and innovative projects.
Doing business in Texas could be profitable for some one million women business owners who reportedly call the state home. A study ranks Texas No. 3 on its “Best States For Black Entrepreneurs In 2022.” The study says Texas has no income tax, possibly allowing money earned to last longer.
The StartHer grants have gained attention. Over 300 applications were received last year, based on a news release. The CWE is a part of TWU’s Jane Nelson Institute for Women’s Leadership
.“These grants can be game-changers for entrepreneurs and can help put their businesses on a more solid path to success,” said Tracy Irby, director of the CWE.
“We are excited to continue awarding these potentially transformational grants.”
Upon
selection, grant recipients must complete a virtual small business training course in November hosted by CWE. Course topics will range from business plan development to marketing and accounting. Grant winners will be announced on Nov. 1.To be eligible, businesses must meet several criteria. For instance, a business must be current or newly formed. It must be at least 51% owned and controlled by one or more women who are U.S. citizens and have five or fewer employees.
The grants can be used for many purposes, including buying machinery, equipment, or technology, acquiring new inventory, or making property improvements to help generate new business.
Businesses must submit a completed online application before 5 p.m. on Saturday, Oct. 22. For more details, FAQs, and to apply, visit this site.