Small Business Grants New York

– Small Business Grants New York –

Learn more about Small Business Grants New York. Small business grants are financial help provided by the New York City government to its people under specific conditions. The funds must be used for a cause that benefits the city’s economy.

About Business Grants in New York

It is not simple to start and run a small business in New York. In the state of New York alone, over $400,790,000,000.00 is spent on employee wages and payroll, while over 58,161 enterprises file for bankruptcy every year.

Although the federal government does not publicly provide grants for beginning and developing a firm.

Small business grants are granted to entrepreneurs in New York to help them start and grow their businesses, and grant winners are not required to repay the government.

Small businesses and large corporations are the foundation of economic growth in New York

Top List of Business Grants in New York

We’ve put together a list of five New York-specific grants for you.

1. Global NY State Trade Expansion Program (STEP)

Small firms seeking to enter the export market can apply for funds through the Global NY State Trade Expansion Program.

Virtual services, compliance testing, export training seminars, international marketing campaigns, foreign market sales travels, and trade exhibits are all used for funds.

Companies who have been in business for at least a year that produce, assemble, and/or distribute a product or provide an exportable service are eligible to apply.

Amount: $6,000

Deadline: Ongoing

CLICK HERE to Apply

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2. Global NY Fund Grant Program

Another award for promoting worldwide exports is the Global NY Fund Grant Program.

Non-profits can earn up to $100,000, while for-profit enterprises can receive up to $25,000. Before submitting, candidates should consult with an ESD Global NY Representative for advice.

Otherwise, the examination and acceptance of your application may be severely delayed.

Export workshops, product adjustments to suit foreign requirements, trade fair participation, and market customization are all uses for the grant money.

Amount: $25,000

Deadline: Ongoing

CLICK HERE to Apply

3. New York Foundation Grant

You must submit an initial grant proposal to be considered for a New York Foundation Grant.

Businesses that advance to the next stage are required to present a detailed financing application.

The organization funds enterprises in New York City that cater to the needs of certain groups, such as kids or the elderly. Program personnel also sought companies that concentrate on advocacy and community organizing.

Amount: $40,000

Deadline: Varies

CLICK HERE to Apply

4. New York StartUP

The New York StartUP! 2022 Business Plan Competition offers prizes of up to $15,000 to help entrepreneurs launch their businesses.

In addition, you’ll have access to vital business help and resources. You must live and operate your business in Manhattan, The Bronx, or Staten Island.

This is just for actual start-ups—your company must have made less than $10,000 in revenue.

Amount: $15,000

Deadline: Varies

CLICK HERE to Apply

5. New York State COVID-19 Pandemic Small Business Recovery Grant Program

The amount of funding available under the New York State COVID-19 Pandemic Small Business Recovery Grant Program is determined by gross revenues for 2019.

Your company’s gross receipts must be between $25,000 and $2,500,000. On its 2019 Business Return, it must also show at least $1 in net profit.

This award is not available to businesses who have received help under any of the federal COVID-19 economic recovery or business assistance grant programs.

This covers any business that obtained a forgiving Paycheck Protection Program (PPP) loan.

Amount: $50,000

Deadline: Ongoing

CLICK HERE to Apply

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How Important are Small Businesses to Local Economies?

Small companies help local economies develop and innovate by providing growth and innovation to the community where they are located.

Small enterprises also contribute to economic progress by employing people who might otherwise be unemployed by larger firms.

How Do Small Businesses Generate Funding?

For company owners in need of capital, bank loans may appear to be the most apparent option.

While lending rules have tightened over time, depending on the lender, monies may be set aside specifically for small enterprises.

When applying for a loan, shop around and search for lenders where you may speak with a live person.

Thank you for taking the time to read this article on Small Business Grants New York. If you found this article useful, please share it on social media with your friends and family.

StudentsandScholarship Team.