According to Wells Fargo’s latest research, women now own 15.7 million businesses in the U.S. — more than 40% of all companies in the country — and their businesses grew at nearly twice the rate of men-owned businesses between 2022 and 2025. The momentum has never been stronger.
Owning your own business can be empowering, invigorating, challenging, and exciting! So, what’s holding you back from pursuing your dreams of entrepreneurship? Often times, people cite cost as the number one deterrent.
Listen to this episode of our podcast, From A to Franchisee, where we talk with Ali Kraus of Benetrends Financial about the rise of women in franchising.
Fear not, there are options and opportunities available that can help you bring your dreams to life. In addition to SBA business loans, unsecured loans, personal loans, and personal assets, there are several grants that have been specifically earmarked for women. Below we will examine nine of the best grants for women looking to start a business from scratch or buy into an established franchise system.
Nine Best Small-Business Grants for Women
The Amber Grant
This grant was launched in 1998 to honor the memory of a young girl named Amber, who died when she was 19, unable to fulfill her entrepreneurial dreams. The Amber Grant awards three $10,000 Amber Grants each month: a monthly Amber Grant, a Startup Grant, and a Business Category Grant. Additionally, three of the 36 monthly winners receive an additional $50,000 year-end grant.
Tory Burch Foundation Fellows Program
One of the most comprehensive grant programs available to women entrepreneurs today, the Tory Burch Foundation Fellows Program selects 50 women each year for a year-long fellowship that includes:
- A $5,000 education grant
- Access to 0% interest Kiva loans
- Workshops and immersive programming at the Tory Burch offices
- Peer networking and the opportunity to pitch to investors
NASE Growth Grant Program
The National Association for the Self-Employed (NASE) awards quarterly Growth Grants of up to $4,000 to small business owners who can identify a specific aspect of their business that needs funding to improve. Applicants must be NASE members in good standing for at least three months. Since 2006, NASE has awarded nearly $1 million in grants to small businesses.
IFundWomen Universal Grant Marketplace
IFundWomen is not a single grant but a smart grant marketplace that does the heavy lifting for you. Submit one universal application, and IFundWomen automatically matches your business with relevant grant opportunities from corporate partners. Past and current partners have included Visa, Neutrogena, and American Express. The platform also offers business coaching, crowdfunding support, and access to a community of women founders.
HerRise MicroGrant
Offered by the Yva Jourdan Foundation (via HerSuiteSpot), the HerRise MicroGrant awards $1,000 monthly to under-resourced women entrepreneurs, with a focus on women of color. Eligibility requirements are minimal: your business must be at least 51% women-owned, based in the U.S., and generate less than $1 million in annual revenue.
Enthuse Foundation
The Enthuse Foundation offers a series of targeted grants for women entrepreneurs in the consumer packaged goods (CPG) space. The program offers multiple $2,500 category-specific grants covering business insurance, digital marketing, business tools & technology, professional services (legal, financial, tax), healthcare costs, and retirement savings. A $5,000 Planet & Purpose grant for CPG entrepreneurs with an environmental component to their business is also awarded.
Hello Alice
Similar to IFundWomen, Hello Alice is a free platform that offers a single application for multiple grant opportunities. The database is updated constantly with new openings. It’s a one-stop-shop for women entrepreneurs looking to stay on top of available funding.
Cartier Women’s Initiative
This international grant offers financial assistance, business coaching, and networking opportunities to women impact entrepreneurs. It offers two distinct grant opportunities:
- Regional Awards: Grants for 21 women entrepreneurs across seven global regions, with first-place recipients receiving $100,000 and runners-up receiving $30,000, plus business coaching, mentorship, and networking.
- Science & Technology Pioneer Award: Open to women innovators in science and technology across all sectors and countries. The winner receives $100,000 and two runners-up each receive $30,000.
Businesses should have been operational for at least one year and demonstrate a positive social or environmental impact.
The Halstead Grant
Specifically for emerging female jewelry designers in the U.S., the Halstead Grant awards emerging female jewelry designers in the U.S. $7,500 in cash and $1,000 for jewelry supplies from Halstead. Halstead is a jewelry supply distributor that services studio businesses around the world.
Additional Financial Resources for Women
Grants.gov
Grants.gov is a database that offers quick access to federally available grants as well as tools such as a learning center, a workspace for applying to grants, video tutorials, and grant 101 information.
Women’s Business Centers
With over 100 educational centers across the US, WBCs help women—especially those who are economically and socially disadvantaged—start and grow their small businesses. Contact a Women’s Business Center in your state to see what grants and funding are available to you.
Economic Development Administration
The Economic Development Administration (EDA) The EDA invests in and partners with small businesses to promote innovation, competitiveness, and economic growth.
Grants for Women
Grants for Women offers a comprehensive list of numerous business grants available to female entrepreneurs. This list also includes scholarships and education grants.
Encouraging Women Into Franchising (EWIF)
EWIF is a non-profit organization and community led entirely by volunteers whose mission is to advise and guide women interested in breaking into the franchise industry. EWIF holds regional meetings, annual conferences, and award ceremonies for members, helping women connect and learn from each other.
Small Business Administration (SBA)
The Small Business Administration is another excellent resource for entrepreneurs and franchisees in particular. The SBA is more likely to grant funding to a franchise than to many other types of startups, and it will even expedite the loan processing for SBA-approved franchises.
Start From Scratch or Buy a Franchise?
When starting your own business, remember that you have options. One of the biggest choices you’ll have to make is whether to start your business from scratch or buy a franchise. A franchise often offers less risk and a faster runway to profitability due to the proven business model and franchisor support.
If you want to invest in a franchise, several organizations, such as EWIF (Encouraging Women into Franchising) and The International Franchise Association’s Women’s Franchise Network (WFN) are actively working to help more women achieve their dreams of business ownership through franchising.
Similarly, some franchise brands, such as FASTSIGNS, offer incentives for veterans and first responders, male or female. At FASTSIGNS, that incentive is a 50% reduction in the franchise fee.
You Go, Girl!
No matter which business venture you choose—a startup company or a franchise—the experience will empower, embolden, and encourage you and those around you. Grant money is an invaluable asset to help you get started. Some people want your business venture to blossom; all you have to do is apply! It’s as easy as that.
If you think franchising is the right fit for you, Franchise Business Review is an invaluable tool for your research. We provide ratings and reviews of top franchises based on the satisfaction of their franchisees.
See the Top Franchises for Women
We also encourage you to visit our Franchise Financing Resource Center to explore funding options. Calculate your fundability and request a free consultation with a franchise financing expert!
