Arizona has about 640,000 small business owners who can apply for small business grants. Submitting an application and competing for Arizona small business grants can help you grow your small or medium-sized enterprise in the Grand Canyon State.
Arizona’s economy has a gross domestic product of $458.9 billion as of 2022. That’s the 18th largest GDP in the United States out of the 50 states and the District of Columbia. Small businesses contribute to the nation’s economy.
Small and medium-sized firms exported about $4.6 billion worth of goods from Arizona in 2020, which ranks 23rd in the nation out of the 50 states and Washington, D.C., according to the most recent U.S. Census Bureau export data.Below we highlight some of the top small business grants in Arizona that you can explore.
Grants for Small Businesses in Arizona
If you’re looking for small business grants in Arizona, here are some potential options to consider:
Arizona Advanced Manufacturing Facilities Grant
- Program description: This grant can help you cover some of the costs of using the Arizona State University Core Research Facilities.
- Incentive: Eligible companies can receive matching grants of up to $50K providing discounted access to ASU’s Core Research Facilities.
- General requirements: Here are some of the general requirements for this grant:
- Be a small business based in Arizona or relocating to the Grand Canyon State
- Be in good standing with the Arizona Corporation Commission and other regulatory bodies
- Moving toward the commercialization of innovative technology or a scientific solution to a marketplace issue
- ASU Core Facilities research aligns with the semiconductor and hard materials space
- Be an eligible business structure, such as a corporation, limited liability company, or partnership
- Sole proprietorships are not eligible
- Have at least two but no more than 29 full-time employees
- Companies may not have more than $10 million in net assets, which does not include capital from investors
- How to apply: Contact ASU’s Core Research Facilities before submitting any Arizona Advanced Manufacturing Facilities Grant applications.
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Arizona State Trade Expansion Program (AZSTEP)
- Program description: The Arizona Commerce Authority offers STEP grants that can help you export your goods and services from the Grand Canyon State to foreign markets.
- Incentive: Receive AZSTEP assistance to participate in international trade shows and expos. AZSTEP can help you export your goods and services to Mexico and beyond.
- General requirements: Arizona small businesses seeking to enter export markets for the first time or expand into new markets may be eligible for AZSTEP assistance.
- How to apply: Contact the Arizona Commerce Authority if you’re interested in participating in AZSTEP.
City of Mesa Business Export Assistance Program (BEAP)
- Program description: This program can provide eligible small and medium-sized businesses in Mesa with financial assistance to attend training seminars, trade shows, and sales missions.
- Incentive: Qualified Mesa companies can receive up to 50% reimbursement for eligible expenses associated with trade show participation and export training seminars.
- General requirements: Here are some of the general requirements for this reimbursement program:
- Be a company headquartered in Mesa, Arizona
- Submit an application at least 30 days prior to the start of your reimbursable activity
- Submit proof of seminar completion, trade show attendance, or any other documentation after completing the approved activity
- Reimbursement is only allowed for preapproved items, including registration and service fees
- Reimbursement for travel or other incidental expenses is not allowed
- How to apply: Contact the City of Mesa’s Office of Economic Development if you wish to apply.
Phoenix Flash Grants Program
- Program description: Phoenix Flash Grants provide funding to local artists, art collectives, and organizations as they expand their practices and programs in underinvested areas of Arizona’s capital city.
- Incentive: Receive merit-based awards between $1,000 and $3,500 supporting an art-based activity, such as festivals, exhibitions, performances, or educational art programs.
- General requirements: Here are some of the general requirements for this grant:
- Be based in the City of Phoenix or Maricopa County
- Produce an in-person cultural festival in Phoenix serving mainly Phoenix residents
- Have a connection or relationship to the area where the project is proposed to take place
- Be one of the following applicant types:
- 501(c)3 organization
- Arts and culture LLC with a prior income below $250K
- Arts collective
- Individual artist or culture worker
- K–12 school
- Youth group
- How to apply: You can submit your Phoenix Flash Grants application through the city’s online portal.
Town of Pinetop-Lakeside Façade Grant Program
- Program description: This matching grants program provides funding to commercial property owners who complete façade improvements on buildings in the Town of Pinetop-Lakeside.
- Incentive: Be reimbursed up to $2,500 for implementing eligible façade improvements, such as landscaping or visual enhancements to a commercial property.
- General requirements: Here are some of the general requirements for this grant:
- Be a local service business or commercial property owner in the Town of Pinetop-Lakeside
- Propose a façade improvement project that complies with the town’s building codes, sign regulations, zoning ordinances, and any other regulations
- Meet with a member of the town’s Community Development Department to discuss the project before formally applying for the grant
- How to apply: You can request the Façade Grant Program application at Town Hall or download a copy from the Town of Pinetop-Lakeside’s website. Complete and submit your applications to the Community Development Department.
Who Provides Small Business Grants in Arizona?
Local and state government agencies, including the Arizona Commerce Authority, offer a variety of small business grants in Arizona.
You can compare small business grants in Arizona with similar programs in other states, such as:
- California small business grants
- Colorado small business grants
- Florida small business grants
- Indiana small business grants
- Maryland small business grants
- Michigan small business grants
- NC small business grants
- New York small business grants
- Ohio small business grants
- Texas small business grants
- Wisconsin small business grants
Do You Have to Pay Back a Small Business Grant?
A small business grant typically comes with terms and conditions, and you may be responsible for paying back the grant if you violate those terms. In general, small and midsized business owners are not required to pay back an SMB grant absent any violations.
You typically have to sign a funding agreement to accept a small business grant. As mentioned above, the grant may come with certain conditions. Using the grant for an illegitimate purpose may violate the agreement and require business owners to pay back the grant.
Small business grants may require you to spend the money by a certain date. You may also have to provide proof of payment and a written statement detailing how you’ve spent the grant.
Who Is Eligible for Small Business Grants in Arizona?
Local business owners or operators of an enterprise with fewer than 500 employees may be eligible for small business grants in Arizona.
The U.S. Small Business Administration’s Office of Advocacy generally defines a small business as an independent business having fewer than 500 employees. A small business, including individuals with freelancing business ideas, may be eligible for small business grants.
What Industries Does Arizona Support With Grants?
Arizona offers a variety of grants supporting the following industries:
- Advanced manufacturing
- Aerospace
- Information technology
- Medical technology
- Performing arts
- Renewable energy
- Restaurants and other eating places
- Retail trade (store and nonstore retailers)
- Semiconductor
Arizona Resources for SMB Owners Looking for Funding
Here are some resources for small and medium-sized businesses looking for funding in the Grand Canyon State:
Arizona Small Business Development Center (SBDC)
The Arizona SBDC is a statewide program that can provide Arizona’s small business owners with the following services:
- Confidential business counseling at no cost
- Market research
- Workshops and training courses
SBA District Office in Arizona
The U.S. Small Business Administration (SBA) is a federal agency that provides resources and support to small business owners. The SBA’s Arizona District Office serves the entire Grand Canyon State with a main office in Phoenix plus satellite offices in Show Low and Tucson.
Alternative Funding Sources for Small Businesses in Arizona
Here are some alternative funding sources for small businesses in Arizona:
Arizona State Small Business Credit Initiative (SSBCI)
Arizona’s SSBCI is a federally funded program for small business owners in the Grand Canyon State. Federal law — the American Rescue Plan Act of 2021 — allocates more than $111 million to Arizona’s State Small Business Credit Initiative program.
Here’s how Arizona plans to use the SSBCI funding:
- Arizona Multi-Fund Venture Program — $50 million. This program will help eligible startups access venture capital.
- Arizona Venture Co-Invest Program — $37 million. This program will provide eligible startups and underrepresented businesses in Arizona with direct SSBCI equity capital alongside matching private sector investment.
- Arizona Loan Guarantee Program — $24.03 million. This program makes it easier for Arizona startups to qualify for small business loans by providing guarantees of up to 50% of unpaid principal on enrolled loans.
Arizona Microloan Lenders
Community-based nonprofits may offer microloans of up to $50,000 to small business owners in Arizona, including microloans for women-owned small businesses. In general, microloans can range from $500 to $50K and may be available to startups.
Arizona SMB Loans from Private Lenders
Banks, credit unions, and private lenders may offer different types of small business loans to Arizona business owners.Here are some of the funding products you may consider depending on your needs:
- Commercial real estate loans
- Equipment financing
- Small business loans for startups
- Working capital lines of credit
This article originally appeared on SoFi.com and was syndicated by MediaFeed.org.
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23 small business & side hustle ideas for 2023
When you’re thinking of starting a new business, there are plenty of possibilities to consider. But what if you don’t have a large startup budget ready to go? Doesn’t that limit your dreams severely?Whether you’re trying to launch a side hustle to supplement your day job or you just want to be your own boss, there are many businesses you can start that don’t require huge sums of money.
Explore this list of 23 of our best small business ideas. The sooner you get started, the sooner your small business might be the next great success story.
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At-home workouts became popular during the pandemic restrictions, and it’s still a favorite go-to for busy people who need exercise. If you’re a fitness lover, you may be able to launch an online training business in one of a number of different ways. An easy way to get started and build an audience is by making videos to post on YouTube or sell as a course. According to a survey by Personal Trainer Development Center, online-only trainers made $54,000 yearly on average prior to the pandemic.
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Developing websites — building and maintaining their core structure — is a technical skill that’s in high demand. Yet, it’s also a skill that you can teach yourself through videos, website lessons, and books. Once you’ve mastered and practiced the skill, you can build a portfolio and start pitching clients. All of that takes time and effort but not really money.
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Web design is a skill set you can market as a freelancer, providing your services to multiple companies that need help with the usability and aesthetics of their sites. You can focus on helping design websites from scratch or on troubleshooting and/or redesigning existing websites, or even on a combination of both. Pay for web design may run at around $60 per hour and a full website design might pay between $5,000 and $10,000.
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If you’re wondering what kind of business to start, you might think about consulting in an area you’ve already worked in, like human resources, management, IT, or operations. You can set your own hours, potentially charge more than you earned as a full-time employee, and pick and choose the projects you’ll enjoy the most.
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Starting your own graphic design business is another easy option for people who have the talent and experience. If that’s you, you can launch a website with some portfolio pieces and start pitching potential clients. If you’ve already been a graphic designer for a company, you likely already have everything you need to get started. As of May 15, 2021, the average hourly pay for a graphic designer in the U.S. was $17.99.
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Life coaching can be an extremely satisfying business. You can pick a niche you’re passionate about, like career changes, productivity, health and fitness, or some other idea you find compelling. Getting certified as a professional coach may increase your clout and marketability. While that training probably won’t be free, you might consider it an investment and take out a loan to cover your tuition.
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Whether you’ve been a hobby sewer throughout your life or just picked up the new skill during the pandemic, you may be able to turn that interest into a business. You can specialize your services in any number of ways, like making alterations, designing custom home decor like curtains and pillows, or creating hand-sewn crafts to sell.
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Résumé writing is in demand, thanks to how many people are job hunting. If this is something you have a knack for, you can either find clients on your own or freelance for a résumé agency. The average yearly income for a full-time résumé writer is $42,745, but pay varies. Bear in mind you may be able to earn more if you have expertise in a specific industry. (Learn more atWhat is a Swaption?)
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Selling used books online can be fun as well as lucrative for bibliophiles. It does involve some startup costs since you’ll need to stock up on inventory, but sourcing inexpensive books from places like thrift stores or yard sales can be fun, too. Once you make your first few sales on a site like Amazon or eBay, you can reinvest some or all of the profits to keep your inventory growing.
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If you’re fluent in multiple languages, you can utilize those skills as an interpreter or translator. This is work that can often be performed from the comfort of your own home. Global businesses may not have a full-time need for translation services, so you may be able to step in and help them as a contractor. According to the U.S. Bureau of Labor Statistics, the most recently gathered median annual earning for an interpreter/translator was $52,330.
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Pet owners spare few expenses when it comes to pet care. And since many people adopted new pets during the pandemic, a pet walking or pet care business could provide a big market in many locations. Once you land your first few clients, you can then focus on getting referrals from those successes. Nationally, dog walkers make an average of $29,000 from dog walking, though it’s important to remember that it varies by region and that not all dog walkers view it as a full-time job.
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Creating an online course is a fun way to share your knowledge about topics or skills you’re passionate about. There are many course platforms to choose from. All you need to do is create one or more videos and upload them to the teaching platform. Set a price and, ideally, you’ll soon make some sales.
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Designing and selling digital products (like videos or ebooks) is an easy business to set up, plus it becomes increasingly passive as you build up your library of products. From artwork to educational products, you simply upload your creations to your preferred platform so future customers can find your work.
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Gardens and landscaping became even more popular during the Covid lockdown. They remain favorite pursuits. If you’ve discovered that you have a green thumb, consider launching a landscaping or garden-care business to help your clients maintain beautiful yards all year long. Explore startup funding options to help finance new equipment if you need it.
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Cleaning houses is a service that’s in demand in just about every city and town across the country. Decide what particular types of services you’ll offer and collect the necessary supplies. Also consider getting a general liability insurance policy to protect yourself and your new business since you’ll be in other peoples’ homes. House cleaning can pay from about $13.75 an hour to $19.75 an hour, but that may vary based on your location and what services exactly you’re providing, among other factors. (Learn more atOptions for a $50,000 Personal Loan)
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If you have an artistic knack, consider opening an online shop to sell your own handcrafted goods. You can launch your own website or list your items for sale on an existing platform. You can either build up a stock of inventory first or opt for a made-to-order business model, which can help you save on startup costs.
Liudmila Chernetska/istockphoto
Starting a dropshipping business can be ideal for people who enjoy online marketing. As a dropshipper, you curate goods from a wholesale supplier and market them for sale online. However, you don’t hold any inventory. Instead, the supplier handles shipping for you.
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It’s easier than ever to launch your own interior design business, especially if you have some relevant design experience (your kitchen makeover!) to include in an online portfolio. There are a number of different services you might offer, like home staging, product curation, or online design plans. Consider picking a particular niche or style when you first get started so you can attract your ideal client.
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You can start a tutoring business in person, but online tutors are also popular. Pick a subject you’re knowledgeable about, like math, language arts, or English as a second language. There are plenty of online platforms through which you can market your services, or you can network to find students in need of a tutor. Online tutors can make around $30 an hour or, if they teach advanced subjects, as much as $60 an hour.
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Starting your own virtual assistant business gives you a lot of flexibility in the type of work you do and the hours and location from which you work. You can offer a range of remote services as a virtual assistant, including managing schedules, sending emails, or even handling marketing activities.
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Opening a home daycare center is a more involved small business idea, but there’s definitely a need for this service. Be sure to check your area’s local rules and regulations about opening an in-home daycare center. It may be helpful to write a business plan to keep track of everything you need to do. Alternatively, you could start small by just babysitting or nannying for one family, or even working as a parents’ helper.
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Video and audio content is increasingly popular, so you could offer voiceover services as your own business. It’s easier than ever before to do this as a remote job, plus you can get started with some inexpensive equipment, much of which you may already have, like a microphone, mic stand, headphones, and some recording and editing software. Prices for this service vary, but you might expect to make around $100 for a local radio commercial, up to $10,000 for a national television commercial, and anywhere from $200 to $300 an hour for an audiobook.
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Flipping — finding and reselling or even fixing up and reselling — used items for a profit can be a great business idea if you love bargain-hunting at thrift stores, yard sales, or even clearance shelves. To get started with no budget, you can even flip your own unwanted items from your home on an online auction site, for instance. As you make a little money, you might want to start expanding your inventory.
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Starting any new business takes some work, but the rewards are often worth it. As you get more involved in a new business — and even as it gets more profitable — you may find you need to put more resources into it. You can launch your next idea by exploring financing options.
This article originally appeared on SoFi.com and was syndicated by MediaFeed.org.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
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