As the second-largest state in the U.S., Texas offers vast business opportunities. With a population of over 29 million as of 2021, there’s no shortage of startups and small businesses in this state. If you own a business venture in Texas, state grants for small businesses can help you.
Small business owners are given a chance to grow their ventures through various grants provided by the government and private organizations. In return, flourishing businesses will help turn the economy around by providing more employment opportunities.
We rounded up eight grants and programs that your small business can apply for.
Young Farmer Grant Program
The National Young Farmers Coalition aims to represent young farmers in Texas. This grant is dedicated to providing short and long-term financial support to individuals aged 18 to 45 pursuing careers in agriculture.
The Texas Young Farmer Grant is designed to support and grow the state’s agriculture. The farmer must first match the grant amount, which means the total amount will be split between the program and the winner 1:1. For instance, if a project is $20,000, the farmer must raise $10,000, and the grant will match an equal amount.
Skills for Small Business
The Texas Workforce Commission offers the program Skills for Small Business, which helps business owners train new employees. Applicant companies must have fewer than 100 employees and pay up to $1,800 per new employee and $900 per current employee within a 12-month period.
Texas A&M Engineering Extension Service or a community or technical college must provide the training. This includes on-campus classes, continuing education, and online courses.
Fiserv + Clover Back2Business Grant Program
Business owners in Oklahoma, Texas, the greater Detroit area, or Washington D.C., Maryland, Virginia can apply for the Fiserve + Clover Back2Business Grant Program. This grant prioritizes small businesses that are minority-owned, have fewer than 11 employees, and have less than $1 million in annual revenue.
Additionally, the business must be affected by the COVID-19 pandemic and be established before January 1, 2020.
Small Business Emergency Grant Program
Applicants of the Small Business Emergency Grant Program can receive up to $25,000 from the Fort Bend County Commissioners Court. The business must have been fully operational at the end of December 2019. To qualify, you must prove that your revenue declined by 25% or more for 2019-2020 and provide two years of tax returns.
Southern Smoke Emergency Relief Program
The Southern Smoke Emergency Relief Program is designed to help business owners, employees, and suppliers of bars and restaurants. This only applies to those affected by unforeseen expenses not covered by insurance. In addition, this grant also covers doctor bills, repair costs, and FEMA disasters. The grant committee strictly reviews each grant application.
TX Restaurant Relief Fund
TX Restaurant Relief Fund is run by the Texas Restaurant Foundation to assist food businesses affected by the pandemic. Restaurants can apply for grants of up to $5,000 to stay open and retain staff under this program.
Their purpose is to raise $10 million to be distributed to independent restaurants in the state. A temporary suspension is in place while the organization enables current applications to be processed, but you can check back regularly for updates.
State of Texas Trade Expansion Program
Small businesses that export to foreign markets are eligible for grants up to $10,000 through the State of Texas Trade Expansion Program (STEP). Among the services that can be covered are participation in foreign trade shows, compliance testing, and translation services
Applicants for these grants must match 25% of the grant amount. Applications for the STEP grant funding will open again in summer 2022.
Texas Enterprise Fund
Business owners seeking to start projects and hire workers in Texas can receive grants from the Texas Enterprise Fund. For projects to qualify, at least 75 full-time jobs must be created in urban areas or at least 25 in rural areas, with wages at or above the county average.
The project must also be supported by the local government, with a promising chance of a high investment return. The application process consists of filling out a 20-page application and paying a $1,000 application fee. You’ll also have to go through a rigorous due diligence process.
Conclusion
These business grants and funding opportunities in Texas are dedicated to helping small businesses thrive. By giving them financial aid, ventures can turn a profit and offer more opportunities to the community.
Numerous programs available for different businesses such as restaurants, farmers, and startups make setting up a small business in Texas a reality for more people. On top of business grants, Texas also offers housing grants for first-time home buyers.
Learn About Small Business funds In South Carolina
Are you interested in learning more about the various programs and foundations that can help you with your financial needs? Read more of Gov Relations’ resources on our website!
