Working a small enterprise requires capital, and rising companies typically require sizeable capital investments. Whereas a lot of Hawaii’s 133,000 small companies function utilizing money reserves, many additionally want exterior funding to get began or develop.
Sourcing exterior capital can assist companies get began, spend money on buildings, gear and stock, and increase operations — 10,300 of Hawaii’s small companies grew from March 2021 – March 2022. Generally, companies may alternatively want exterior funding to climate tough instances or surprising emergencies.
Numerous companies in Hawaii are anticipated to supply capital exterior of their gross sales revenues and money reserves. Whereas exterior funding and loans are choices, each include downsides.
Grants have a number of benefits over these. Enterprise grants don’t must be repaid (in contrast to loans), they usually don’t require private funding or diluting your fairness (in contrast to funding). These options make grants a extremely engaging funding possibility.
In case you have a small enterprise that’s beginning or rising, you’ll discover there are numerous grants for companies in Hawaii. The state funds its personal grant packages to assist 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} fluctuate from one grant program to the subsequent. What your online business is ready to apply for will rely on its location, operations, trade, measurement and different components. You’ll probably discover there are a minimum of a couple of grant alternatives value contemplating, although.
Listed below are a number of the prime 2025 small enterprise grants in Hawaii that you simply may wish to apply for.
