Building Small Business Capacity in Connecticut

GrantID: 2510

Grant Funding Amount Low: Open

Deadline: Ongoing

Grant Amount High: Open

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Summary

If you are located in Connecticut and working in the area of Community Development & Services, this funding opportunity may be a good fit. For more relevant grant options that support your work and priorities, visit The Grant Portal and use the Search Grant tool to find opportunities.

Grant Overview

Capacity Building for Small Business Development in Connecticut

Connecticut's economy faces notable challenges, particularly with small businesses, which comprise over 98% of the state's business landscape. Nevertheless, many small business owners confront systemic barriers that inhibit their growth potential, especially among entrepreneurs from underserved communities who often lack access to essential resources and networks.

Small businesses in urban centers like Hartford and Bridgeport, and regions with a high concentration of minority populations, frequently encounter challenges in securing financing, mentorship, and educational resources. These barriers manifest in significantly lower business success rates among minority entrepreneurs compared to their white counterparts. This disparity hampers overall economic growth and community vitality.

The grant initiative will focus on building capacity through targeted workshops, mentorship programs, and access to financial resources specifically aimed at small businesses in Connecticut. Eligible participants will receive training on business plan development, marketing strategies, and financial management to bolster their business acumen and operational resilience.

This program seeks to empower marginalized business owners by creating pathways to economic self-sufficiency and stimulating local economies. By strengthening the business capabilities of underserved entrepreneurs, the initiative aims to promote diversity and innovation within Connecticut's economic landscape, ultimately enhancing the state’s competitiveness.

Distinct from neighboring states, Connecticut’s focus on addressing specific barriers faced by minority entrepreneurs underscores the need for tailored support mechanisms, aligning with the broader objective of fostering a more equitable economic environment.

Eligible Regions

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Grant Portal - Building Small Business Capacity in Connecticut 2510