Operating a small enterprise requires capital, and rising companies usually require sizeable capital investments. Whereas lots of Hawaii’s 133,000 small companies function utilizing money reserves, many additionally want outdoors funding to get began or develop.
Sourcing outdoors capital will help companies get began, spend money on buildings, tools and stock, and increase operations — 10,300 of Hawaii’s small companies grew from March 2021 – March 2022. Typically, companies may alternatively want outdoors funding to climate tough occasions or surprising emergencies.
Numerous companies in Hawaii are anticipated to supply capital outdoors of their gross sales revenues and money reserves. Whereas outdoors funding and loans are choices, each include downsides.
Grants have a number of benefits over these. Enterprise grants don’t must be repaid (not like loans), and so they don’t require private funding or diluting your fairness (not like funding). These options make grants a extremely engaging funding possibility.
If in case you have a small enterprise that’s beginning or rising, you’ll discover there are a lot of grants for companies in Hawaii. The state funds its personal grant applications to help small companies, which account for 99.2% of all companies within the state.
The Hawaiian authorities acknowledges that the state’s financial system would battle with out small companies, and that many small companies would battle to outlive or develop with out grant funding. Along with state enterprise grants, Hawaii companies may also qualify for federal grants or non-public ones.
{Qualifications} range from one grant program to the following. What your small business is ready to apply for will depend upon its location, operations, trade, dimension and different components. You’ll possible discover there are a minimum of just a few grant alternatives price contemplating, although.
Listed below are a number of the prime 2025 small enterprise grants in Hawaii that you simply may wish to apply for.
