However, to reach the Fortune 500 Companies, these young entrepreneurs need initial financial assistance, mentorship, and technical assistance to kickstart their projects.
According to Startup.com, A business grant is a sum of money given to a business to help them further its business.
They’re usually distributed by governments, corporations, foundations, or trusts. Unlike many other types of business funding, grants don’t have to be paid back and business owners aren’t required to give up equity in exchange for a grant.
However, most small businesses probably won’t qualify for a small business grant, as they’re tied directly to government agencies that have specific goals.
There are some categories of business that are an exception, though, including research and development companies, as well as some high-tech companies. Some grants are also sector or gender-specific.
So how do you know the type of business grant offered to Entrepreneurs in Africa? If you are searching for some good grants for entrepreneurs in Africa or planning to apply for some opportunities for Africans, understanding these types of grants will assist you on which business grant you should channel your energy to applying.
Successful applicants can use the business grant (money) to facilitate and implement set strategies, activities, and plans to either start or grow their business located in Africa.
As an entrepreneur, you do need to understand what business grant providers do seek in Entrepreneurs especially those business owners and startups from the African region. So here are a few things they look at:
With that in mind, here is a list of ten grants that focus on African Businesses
In conclusion, as entrepreneurs and startups, you can get business grants and fundings to support and scale up your enterprises if your business is registered and located in any African country. Take advantage of this wide range of business grants and apply for the latest ongoing and opened business grants.