Small business grants for women – a guide for women in business

Getting funding for your business can be difficult for any business owner. But did you know that, according to recent data from NatWest, women receive less than 1% of venture capital?

Female entrepreneurs not only have to deal with the regular pains of running a business, but the additional struggles that come with being a woman in business too. That’s why funding for women in business has never been more important.

Keep reading to discover funding opportunities for women in business – from small business grants to awards with a cash prize.

Business grants for women

Many of the grants for female entrepreneurs we’ve included below don’t just include a cash prize – they also come with coaching and development opportunities, as well as a community of like minded women to network with.

Here are just some of the grants for women in business available to you.

Female Founders Fund

The Female Founders Fund was created in 2014 in order to invest in female talent across a range of industries. Open to worldwide applicants, the fund has a wide portfolio of women-owned businesses across a range of sectors.

The Female Founders Fund are seed investors who will invest in companies with at least one female founder. Investments are usually between $500K – $750K – but you’ll also have access to a strong female leadership network.

To apply for investment from the Female Founders Fund, you’ll need to create an impressive pitch deck. Applications are open all year round.

Women in Innovation Award

Run by the UK government, the Women in Innovation Award is a £75,000 grant that is available for up to 50 female entrepreneurs across the UK every year. Your business will need to be solving a challenge (whether that be societal, economic, or environmental), innovative, and women-owned.

If you win a grant as part of the Women in Innovation Award, you’ll also get the chance to volunteer as a role model and mentor for five days of your 12 month project.

To apply for this grant, you’ll need to submit a proposal that clearly explains your project details and the impact it will make, explain your finances, and answer any application questions.

Female Entrepreneurship Funding

Since 2021, the Royal Bank of Scotland (RBS) and NatWest have made an additional £1bn in funding available to women-owned businesses in the UK.

They also offer free courses for female entrepreneurs, with RBS offering an additional mentorship program to support women in business in Scotland.

Fund Her North

Fund Her North is a network in the North of England focused on early-stage through to growth and exit-focused equity investment. Investment is available for the following business stages:

• idea stage
• pre-revenue
• revenue generative
• sustained profit growth

Whichever funding stage you require help with, Fund Her North offers both access to funding and business expertise and support to help you grow your business.

Astia

Astia is an investment company with a focus on high-growth businesses led by women. You’ll generally be beyond the concept stage with already proven business success. Your application will need an executive summary. If you need help with this, we have a guide on how to write an executive summary here.

Business Boost

While not specifically for female entrepreneurs, Simply Business’s Business Boost competition has seen four winners since it launched in 2020 – and all have been female entrepreneurs!

Find out more about Business Boost, as well as our previous winners, to be in with a chance of winning a £25,000 small business grant.

Women in business awards

Another way you can get a cash boost to your business is through winning an award with an accompanying cash prize. There are plenty of women in business awards you can enter but before you do, it’s important you know how to write a winning award entry.

Here’s a rundown of some awards designed especially for women in business.

Cartier Women’s Initiative

The Cartier Women’s Initiative is an international programme focusing on empowering female entrepreneurs. It runs awards each year, usually based on the following categories:

• Regional Awards (if applying for this award, UK businesses should apply for the European region)
• Impact Awards
• Science & Technology Pioneer Award
• Diversity, Equity & Inclusion Award

Specific entry criteria will differ depending on the award you’re applying for, as will the amount you could win, so spend some time making sure you’ve chosen the right category for your business.

AnitaB.org

AnitaB.org is a social enterprise for women and non-binary people working in technical fields. They offer a range of awards and grants but one popular award is their Pass it On Award, which focuses on advancing women in computing.

The last Pass it on Award gave the ten winners $1,000 each.

Another option from AnitaB.org is the Abie Awards, which focuses on distinguished leaders in the technology field. The award categories for the Abie Awards tend to change each year, as do their cash prizes, so keep an eye out for when a relevant category for your business is announced.

Women in business events

When looking for funding, it can also help to think outside the box. Attending networking events for women in business can be a good opportunity to meet like-minded people who may even be looking for investment opportunities.

The Women in Business Network is one option which runs local events across the country which could introduce you to female entrepreneurs in your area.

Online groups and events are also an option. Simply Business’s Women in Business Community Group connects women-owned businesses across the country.

Do you know any other funding opportunities available for women in business? Share them in the comments below.

More guides on financing your small business

• Small business funding and investment: how to grow your business
• Crowdfunding: is it right for your small business?
• How to write a business proposal: template and tips from a business owner
• Is business insurance a legal requirement?

Photo: Supachai/stock.adobe.com