July 16, 2024
By: Emily Harper
As a small business owner in Florida, securing funding can be a significant challenge, especially during the early stages of your venture or when considering expansion plans. Fortunately, numerous grant opportunities are available to support entrepreneurs and small businesses in the Sunshine State.
By exploring the different grant opportunities available, you can get the financial support you need to overcome challenges, invest in your business's growth, and contribute to growing Florida's economy.
In this guide, we’ll explain the different grant programs available in Florida, explain what you need to qualify, and offer some handy tips on how to apply.
Grants are like financial gifts; you don’t have to pay them back. This means you can boost your business without increasing your debt, which is especially helpful for new or growing businesses focusing on maintaining cash flow.
With grant funding, you can explore new ideas or expand your business without the typical financial risks. Whether it’s upgrading equipment, launching new products, or breaking into new markets, grants can provide the necessary funds to move forward.
Many grants include perks like training sessions, mentoring, and networking opportunities. These resources can be invaluable for gaining insights, learning new skills, and making connections that propel your business forward.
Small business grants do more than just help individual businesses—they boost the whole community. These grants encourage small businesses to grow and prosper by giving them financial support. This growth leads to more jobs and a stronger demand for local goods and services, benefiting the entire local economy.
In Florida, where the economy is as diverse as its people, small business grants play a vital role.
Small businesses are the backbone of Florida's economy, accounting for over 99.8 percent of all businesses in the state. Savvy entrepreneurs understand the importance of securing grants to help with their financial needs. These funds can be used to hire additional staff, purchase new equipment, or expand into new markets.
The impact of small business grants extends far beyond the individual businesses that receive them. By helping companies grow and succeed, these grants attract more investment to the state, fostering economic development and creating new opportunities for Floridians. As businesses prosper, communities benefit from increased job creation, improved services, and a higher quality of life.
Take a look at our list of small business grants in Florida to learn about which ones might be best for you.
Are you a for-profit business looking to establish or expand within the city limits of Orlando? The City of Orlando Business Assistance Program offers matching grants of up to $20,000 to help cover development-related expenses like sewer and transportation impact fees, building permit fees, and costs associated with public rights-of-way infrastructure.
Who Can Apply: For-profit businesses that are either new or expanding and are located or planning to relocate within the city limits of Orlando.
Requirements: Businesses must be located within or planning to move to Orlando's city limits. They must also cover eligible development costs that the grant can match.
Learn More and Apply: Interested businesses can find more detailed information and application guidelines on the City of Orlando Business Assistance Program (BAP) website.
If your business is located within the North Miami CRA boundaries and you're interested in commercial property improvements, expansion, or operational upgrades, the North Miami CRA Commercial Grants could be valuable.
You can access financial assistance to support your growth and enhancement plans with various grant options, including:
The Business Attraction & Expansion Grant offers to cover 50% of eligible project costs up to $150,000. This includes expenses related to relocating or attracting businesses to the area and costs associated with business expansion. The grant is ideal for businesses new to the area or existing businesses looking to grow. Additionally, the grant can subsidize half of the monthly rent for an approved property for up to six months during renovations.
The Beautification and Enhancement Grant provides up to $25,000 to eligible commercial property owners or business operators for interior or exterior building improvements, with no matching funds required. The grant is entirely forgivable, meaning that it does not need to be paid back as long as the improvements for murals are maintained for three or five years.
The Rehabilitation Grant program offers financial assistance to cover up to 50% of the cost for both interior and exterior improvements for property owners and businesses, with a maximum grant of $100,000. This grant helps fund renovations and upgrades, supporting the enhancement of business properties.
The Capacity Building/Retention Grant Program aims to support existing small businesses by enhancing their operations and capacity. As the local area undergoes redevelopment, this program provides up to $7,500 to cover approved business expenses or technical support and training costs. This initiative helps businesses adapt and thrive during times of change.
The NW 7th Ave Biz Boost Grant Program offers strategic support for established businesses looking to expand. Eligible businesses located on NW 7th Avenue within the North Miami Community Redevelopment Agency's boundaries can receive up to $5,000 in grant funding. This financial support is designed to help businesses achieve growth and reach new milestones in their development.
The West Dixie Small Business Tech & Innovation Grant Program offers financial support to small businesses in West Dixie for technology improvements. This program provides up to $7,500 to help businesses buy and implement new tech equipment and services, enhancing their operations and capacity.
Who Can Apply: Businesses located within the North Miami CRA boundaries are interested in commercial property improvements, expansion, or operational upgrades.
How to Apply: Interested businesses within the North Miami CRA boundaries can apply for these grants by visiting the North Miami CRA Commercial Grants page.
For minority-led small businesses and nonprofits in Miami-Dade County,the Miami-Dade Microgrant provides up to $5,000 to assist with purchasing essential equipment, supplies, and insurance. This grant targets historically underserved communities, helping you acquire the necessary hardware, software, and machinery to grow your operations.
Eligibility and Requirements:
How to Apply: Visit the Miami Open for Business portal to learn more information.
Did the COVID-19 pandemic impact you as a small or home-based business in Orange County? The Orange CARES for Business grant program offered financial relief to help manage costs like rent, payroll, and personal protective equipment (PPE), focusing on supporting minority and women-owned businesses.
What the Program Offers:
Eligibility and Requirements:
How to Apply: Businesses interested in applying for these grants can find more information and submit their applications through the Orange CARES for Business Grant online portal.
Calling all startups and small businesses in Florida! The National Association for the Self-Employed Grant provides a $4,000 grant to support businesses in their early stages, helping you cover initial and growth-related expenses as you establish or expand your operations.
Eligibility and Requirements:
Grant Details:
How to Apply: For application details and to see if you qualify, visit the National Association for the Self-Employed Grant page.
The Florida High Tech Corridor Grant could be a game-changer if you're a high-tech startup or engaged in significant research and development activities. With grants available up to $150,000, this program aims to foster innovation and growth within high-tech industries, providing substantial financial support for cutting-edge projects.
Eligibility and Requirements:
How to Apply: Applications are accepted regularly throughout the year. For more details and to submit your application, visit the Florida High Tech Corridor Grant website.
For Hispanic entrepreneurs in Florida, the Prospera Small Business Grants offer you essential professional services such as legal, accounting, and marketing support at no cost. Whether you're starting a new business or expanding an existing one, these grants can provide valuable resources tailored to your specific needs.
Eligibility and Requirements: Available to Hispanic entrepreneurs looking to start or expand their business operations.
How to Apply: For application details and more information on how to qualify, visit the Prospera Small Business Grants webpage.
Women-owned small businesses in Florida, this one's for you! The BMO Celebrating Women Grant Program provides $10,000 grants to 15 eligible businesses, offering financial support to enhance your growth plans and take your venture to the next level.
Eligibility and Requirements:
How to Apply: For more information and to apply, visit the BMO Celebrating Women Grant Program webpage.
The Amber Grant is explicitly designed to support women during their business or startup's initial and operational stages. With monthly grants of $10,000 and an additional opportunity to win a $25,000 grant at the end of the year, this program can help you overcome the financial challenges that often arise in the early phases of business development.
Eligibility and Requirements: This grant program targets women entrepreneurs who are seeking financial assistance to start or grow their businesses in Florida. The focus is on helping them overcome the financial challenges that arise in the early phases of business development.
How to Apply: Interested applicants can visit the Amber Grant application page for more information on eligibility, requirements, and the application process.
Are you a Florida-based business looking to expand your export activities or enter new export markets? The Florida SBDC State Trade Expansion Program, also known as the STEP Grant Program, offers reimbursements for expenses related to export credit insurance, marketing activities, and trade show participation, with a maximum reimbursement of up to $15,000 per funding period.
Eligibility and Requirements:
This program is geared towards Florida-based businesses that are either new to exporting or are aiming to broaden their export markets. Applicants should be prepared to demonstrate how the funds will be used to increase their exporting capabilities.
How to Apply: Interested businesses should visit the STEP Grant Program application page for more details on the program or to apply.
If your business aims to expand its market reach through exporting, the SelectFlorida Trade Grants could be a valuable resource. These grants help cover costs associated with entering and establishing a presence in international markets, offering financial assistance for website localization, export marketing plan development, and participation in global trade shows.
What the Grants Offer:
Eligibility and Requirements: Businesses looking to expand into export markets can apply for these grants. Specific requirements may vary, so reviewing the detailed eligibility criteria on the grant application page is essential.
How to Apply: For more information or to apply for the SelectFlorida Trade Grants, visit the designated grant application page.
First, read those eligibility requirements carefully before applying to any grant program. The criteria can be specific regarding your business location, industry, revenue size, number of employees, and more. You don't want to waste time on applications you have no chance of getting approved for.
Once you identify the grants you qualify for, make sure to prepare all the required documents well in advance. Things like business plans, financial statements, tax returns, licenses/certifications - having it all ready to go will make your life much easier. An incomplete application is a surefire way to get rejected.
When you do apply, don't just rattle off facts about your business. Use it as an opportunity to really highlight how this grant funding will allow you to take things to the next level. Maybe you can hire more employees, offer better services, or positively impact the local community. Spell out the benefits.
If you're feeling overwhelmed by the whole process, don't go it alone! The Florida Small Business Development Center provides free consulting services and can walk you through every step of grant applications. Their expertise is invaluable.
Grant applications are highly competitive since the funding doesn't need to be paid back. The odds may not be in your favor, so make sure to explore alternative financing options as backups. Things like small business loans, SBA loan programs, business credit cards, and crowdfunding campaigns - have multiple irons in the fire.
Finally, stay organized through this entire process. Keep detailed records of every grant you apply for, the associated fees, the requirements, and deadlines. You don't want to miss out on opportunities or double-pay any fees inadvertently.
With diligent preparation and a creative pitch, you can put your best foot forward for Florida's small business grant opportunities. Good luck!
Securing a grant can be a game-changer for your small business in Florida, providing the financial boost and resources needed to take your venture to new heights. By exploring the various grant opportunities available and following the application tips, you can increase your chances of success.
Remember, growth and success don't happen overnight. It takes persistence, hard work, and a commitment to continuously improving your business. With the right grant funding and support, you can turn your entrepreneurial dreams into reality and contribute to the vibrant Florida business landscape.
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