• Having a business plan is one aspect of starting up your own company.business plan 2 image by Kelly Young from Fotolia.com
  
  Any entrepreneur looking to start a small business faces certain challenges, such as finding funding. A minority small business owner can benefit from grants specifically designated to minorities. There are regional resources as well as national programs. With proper research and a plan for the business' future beyond the grant, a minority small business owner can utilize the funds to get his business off the ground.
  
  

Women's Business Center Initial Grant

• The U.S. Small Business Administration (SBA) established the Women's Business Center Initial Grant under the Office of Women's Business Ownership department. It awards up to $150,000 in technical assistance for female entrepreneurs in the state of New Jersey. Its purpose is to give aid in finance, management and marketing.
  
  

Targeted Small Business (TSB) Assistance Program

• The Targeted Small Business (TSB) Assistance Program has a wealth of information to assist minority business owners. It provides equity grants of up to $50,000 to "targeted small businesses," as certified and defined by the Iowa Department of Inspections and Appeals. To qualify, the business must not exceed annual gross sales of $4 million. It must be owned (at least 51 percent) and operated by a minority. The TSB Assistance Program defines a minority as "women, minorities or persons with a disability." The grants are intended to manage loan debt.
  
  

Montana Indian Equity Fund

• The Montana Indian Equity Fund gives financial assistance to a Native American business owner, existing or nascent. To qualify for the grant, you must be a member of the Little Shell Chippewa Tribe or one of the tribes recognized by Montana. The funding can be utilized in many ways, such as product development. The equity fund doesn't have a set amount, but requires the business owner to match the funding dollar for dollar.