Industry Insights
Grants are often overlooked as a source of funding for small businesses. They can help you expand regionally, upgrade your tech infrastructure, or bring on new talent.
Service-based businesses, such as accounting firms, also qualify for many grants specifically designed for small businesses. You just have to know where to look to find specialized funding from your local government or private institutions.
Unlike with business loans or private investors, you don’t have to pay grants back with interest or exchange ownership of your company. They are an investment in your accounting firm’s future!
Grants can help cover upfront expenses, such as marketing, software licensing, and technology adoption. And, contrary to popular belief, grants aren’t always financial. They can include resources for skill development, like helping staff become certified CPAs, which is especially helpful for service-based businesses.
While you might be tempted to apply only for grants that strictly target accounting firms and financial institutions, that’s not always the best course of action. Many general small business grants don’t exclude service-based businesses, which you can apply for as an accounting firm.
For example, the Economic Development Administration (EDA) offers federal and state-based grants, funding, and technical assistance to small businesses. There are also privately funded small business grants for accounting firms, like the Visa Everywhere Initiative, which specifically targets businesses in the financial sector.
You’ll notice that many government-funded grants focus on creating new job opportunities and developing local communities in their criteria for applicants.
When it comes to skilled workers, the U.S. DOL offers opportunities for training, education, and upskilling professionals in numerous service-based industries according to the needs of their local communities. Some of their offers include pre-employment training, on-the-job training, and registered apprenticeships in government organizations.
Grants from the STTR program aim to connect entrepreneurs with government agencies and organizations for short- and long-term contracts. They also provide early-stage technology funding for small firms and businesses, helping them operate at an industry level.
In addition to the federal government, you can also reach out to your local SBDC for support. On top of financial grants, they offer resources and training for small businesses and startups.
Local and state-based grants tend to have less competition, making them easier to win compared to federal or international grant programs.
Governments and private corporations offer additional funding opportunities to businesses founded by individuals from underprivileged backgrounds, minorities, or military veterans. If this description applies to you, there are numerous grants available to help level the playing field.
The Secretsos Small Business Grant is a program aimed at the “underdogs” of business.
To qualify, your business must be woman-owned, minority-owned, or veteran-owned, and you should also be ineligible for a standard bank loan. The grant also targets businesses based in developing economies and not metropolitan regions or established cities.
The Amber Grant, by WomensNet, is one that primarily targets women starting their own businesses. Multiple monthly winners could receive up to $10,000 in funding to cover business expenses.
At the end of the year, WomensNet also awards an additional $25,000 to three winners from the initial pool of female business owners.
Part of the U.S. Department of Commerce, the MBDA offers several grants aimed at minority-owned small businesses. It helps owners compete in their local economies by providing access to government contracts and local funding opportunities.
The grant winners are chosen after the agency runs an extensive vetting process to check your business’s eligibility.
There’s a common misconception that you should apply for as many grants as you can, just because there’s no registration fee. But that’s not at all the case. Instead, you’re better off focusing on grants that pertain to your particular business and personal situations, writing fewer but higher-quality funding proposals.
You shouldn’t just rely on merit to be awarded a grant. To stand out, you can showcase your business’s potential through an outstanding application with these 4 tips:
Accounting firms are essential for everyone, from individuals needing help with their tax returns to local businesses and entrepreneurs in need of financial services. Don’t downplay the importance of your business venture to the local economy. By securing funding, you can ensure that your firm is best equipped to fill that vital role.
Stamps.com understands the importance of that role. That’s why we’re thrilled to offer the Small Business Flexibility Grant, where one service-based business will win $25,000. Learn more about the grant’s requirements here. Applications are free, but the submission deadline is May 31, 2025, so hurry and apply today!
