More than 600,000 new businesses open each year.
There are 32.5 million small businesses in the US.
Roughly 20% of business startups fail in the first year.
FedEx is offering several lucky small businesses a huge cash payout.
(NewsReady.com) – It’s not easy to start a business. Not only is it a lot of work that often pulls people away from their families for months while they get the company off of the ground, but new business owners have to constantly worry about their bottom line. The smallest mistake could cause irreparable damage. According to 2019 data from the Small Business Administration (SBA), roughly 20% of business startups fail the first year, and about 50% won’t make it to their sixth year.
Having extra cash on hand to start the business or expand it is always ideal. While some companies might reach out to investors or take out a small business loan, there are other options available. One of those options is to apply for a grant, and FedEx is offering one of those to some lucky small businesses.
FedEx Small Business Grant Program
On February 10, small business owners will be able to enter into the 10th annual FedEx Small Business Grant Contest. Business owners may enter through February 28. The company wants to hear about small businesses around the country.
FedEx is looking for stories about creative and unique business ideas from those who have “poured [their] heart and soul” into their companies. Before entering the contest, business owners should start thinking about the following things:
- What made them start their business?
- What purpose does the company serve?
- How does the company stand out from its competitors?
- How would the money help the business?
- Are there any special causes the business supports?
The goal is to make the business stand out against others entered into the competition. After those questions are all answered, the business owner will need to take several photos that represent the company, and they must be formatted horizontally. A digital version of the company’s logo will also be needed to enter the program. After all of the photos are ready, they will have to create a two-minute elevator pitch video that makes the company stand out.
Finally, before the business owner submits their entry, FedEx recommends reviewing this sample entry.
FedEx is offering huge prizes for winners of the grant contest. Three companies will win the $50,000 grand prize. Seven others will win first place prizes of $20,000 and a FedEx office credit of $1,500. All of the winners will also receive:
- website audit by Higher Visibility
- one-year Klaviyo subscription
- an EcoEnclose sustainable packaging consultation
- many other prizes
If you’re looking for some extra capital, this might just be the answer you’re looking for. Good luck!
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