Small businesses are often referred to as the backbone of the U.S. economy. Millions of Americans who work are employed at a small businesses. In fact, there are more than 31.7 million small businesses in the country, accounting for 99.9 percent of all businesses in the U.S.
Small Business Saturday
Every year on the Saturday after Thanksgiving, the nation celebrates Small Business Saturday. The day is all about celebrating small businesses and encouraging consumers to shop local instead of giving their money to massive corporations. This year, Small Business Saturday falls on Nov. 27 and acts as a counterpart to Black Friday and Cyber Monday.
Credit card company American Express created this holiday in partnership with the national nonprofit National Trust for Historic Preservation. The holiday began amidst a recession, where so many businesses were struggling. In 2011, the Senate passed a resolution commemorating this day, and officials in all 50 states joined in to make it official.
Now after the pandemic, it is even more crucial to remember Small Business Saturday this year. And in honor of the day, GrantWatch will be sharing 10 small business grants below. These grants provide funding for a variety of needs including training, research, marketing, new technology, building upgrades, and more.
How to Celebrate?
Many organizations celebrate by acting as neighborhood champions and organizing activities. Additionally, in 2011, the year after the holiday started, many municipalities, small businesses, nonprofit trade associations, and officials joined together to form the Small Business Saturday Coalition. Want to celebrate Small Business Saturday on your own? Here are some ways to help:
- Go shopping at a local store.
- Eat at a local, small restaurant.
- Look online to find new spots in your neighborhood and try something new.
- Encourage your friends to participate too.
- Share out the #smallbuissnessaturday and #shopsmall on social media.
- Sign up as a neighborhood champion.
- And most importantly, have fun shopping!
10 Small Business Grants
- Firstly, there are grants to U.S. and territories businesses for the development of new technologies. Funding is for the development of technically risky and innovative technologies in nearly any science and technology field.
- Grants to U.S. small businesses for financial assistance during the Coronavirus (COVID-19) health crisis. Funding is for applicants that have been negatively impacted by the pandemic. Previously funded businesses include restaurants, bars, transportation services, cleaning services, and more.
- There are also grants of $5,000 to U.S. and Puerto Rico for-profits for business development support. Requests will be accepted from small businesses with a revenue of under one million dollars that are committed to community and diversity.
- Opportunity for U.S. small businesses to participate in a mentorship program. The purpose of the opportunity is to help these small businesses increase their capacity, acquire development assistance, and compete for government contracts that would contribute to their growth.
- In addition, there are grants for U.S. small businesses for high-risk technology research. Applicants must work with an eligible research institution.
- Opportunities for U.S. Black business owners to participate in a business accelerator. The purpose of the program is to help foster entrepreneurial growth for Black business owners and facilitate their success as sellers.
- Also, there is an opportunity for U.S. small businesses to receive interest-free loans of $2,000 and in-kind support. In addition to a capital infusion, businesses have the opportunity to raise capital and receive local investment from their supporting communities.
- Tax credits to U.S. and territories businesses to offset the financial impact of the Coronavirus (COVID-19) health crisis.
- Additionally, in-kind assistance is available to Texas and Oklahoma minority-owned businesses impacted by the COVID-19 pandemic and civil unrest.
- Finally, there are grants available to Indiana small businesses to adress financial challenges cauded by the COVID-19 pandemic.