For Ethnic Minorities

While grant money can be considered as free money, getting one is not always easy, and it is deliberately so. Grantors have made it a time-consuming venture in order to test the resolve of whoever is trying to obtain a grant. But it shouldn’t really be difficult because even as they try to limit the qualified applicants by imposing seemingly insurmountable obstacles, there is a definite way to do things, and just following what is required should pave the way for business grants for ethnic minorities and all other sectors of society.

Business grants are good for the country’s economy as they stimulate corporate spending, foster entrepreneurship and innovation, encourage creation of more jobs. There are federal and state grant programs that help ethnic minorities such as Hispanics, African Americans, Asians and Native Americans. There are also grants for disadvantaged students, people with disabilities and women. Business grants for ethnic minorities are given to qualified people experiencing adversities, and also to help in educating them and help in providing diversity to the workplace.

North Carolina has its Institute of Minority Economic Development which helps businesses owned by minorities and women in overcoming difficulties they encounter in their particular businesses in the state. The Institute is actually composed of smaller agencies which help particular groups of people. They provide training programs that focus on business leadership aimed at helping minorities and women excel in their chosen field. The organization is also involved in lobbying the state government for small business benefits, financial aids and educational opportunities for women and ethic minorities.

The North Carolina Institute of Minority Economic Development can be contacted at: 114 W. Parrish Street, Durham, North Carolina 27701. You can also access the NCIMED at their website.

One of the smaller agencies within the NCIMED is Women’s Financial Fund which provides business grants for businesswomen in the state. The fund which comes from the yearly donations of members, range from as small as $100 up to $5,000. In 2004, the state partnered with the US Minority Business Development Agency to establish the North Carolina Minority Business Enterprise Center. The center aims to provide technical and financial help to minority business owners all over the state. North Carolina also has the Minority Executive Education Institute that assists minority business owners and provides them with tools and strategies to help them cope and overcome the prevailing business challenges in the state.

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