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In honor of Pride Month, Hello Alice surveyed nearly 600 LGBTQ+ small business owners to learn more about the opportunities and challenges they’re currently facing. The results show that the LGBTQ+ entrepreneurial community has maintained a strong, steady trajectory of growth and success in the past few years, despite challenges universal to small business owners, like the lingering effects of the pandemic and inflation, and challenges that are unique to the community, such as a recent uptick in discriminatory legislation. Published in partnership with Startout, an organization that accelerates the growth of the LGBTQ+ entrepreneurial community to drive its economic empowerment through curated access to resources, expert support, and engagement, this research illustrates and expands upon these key findings to illustrate the solutions that address the LGBTQ+ small business community’s needs. The report also highlights the powerful sentiments of owners across the country, underscoring the importance of supporting LGBTQ+ small businesses not just during Pride month, but all year long. You can view and download the full report, titled The LGBTQ+ Economy: A Closer Look at the Trends and Triumphs of New Majority Small Business Owners in 2023, here. The survey analysis has four key findings: 1. LGBTQ+ owners are ready to scale, despite economic conditions. There is a demonstrated desire for expansion and growth among LGBTQ+ small businesses who have already established a strong foundation. Nearly 40% of respondents said their greatest business challenge right now is growing their business or building awareness for their business. 2. Staying agile to learn new skills is a key priority for LGBTQ+ owners. LGBTQ+ entrepreneurs are balancing learning with execution every day. 80% are seeking out educational content online to grow their skills, and 70% reported they’re learning through on-the-job experience. 3. Access to capital presents a hurdle in the path to financing for LGBTQ+ businesses. In order to grow, LGBTQ+ owners need financing, and this effort can be a significant undertaking. 87% of respondents said they’re planning to apply for financing in 2023, and 36% said raising capital is their biggest challenge right now. 4. LGBTQ+ small business owners are resolute in the face of discriminatory legislation. While LGBTQ+ owners used words like “frightening”, “concerning” and “heavy” to describe the impact of increasing anti-LGBTQ+ legislation, 45% said they had not felt a direct impact on their bottom line, and many expressed that their main concern in the face of this discrimination is the wellbeing of their teams and customers. 2023 Resources for LGBTQ+ small business owners Share the following resources with LGBTQ+ small business owners in your network. Each resource addresses the key challenges voiced in this survey by LGBTQ+ entrepreneurs. Business Health Score Financially fit companies provide the best conditions for small business success. With Hello Alice’s Business Health Score, you can monitor your progress, identify potential areas of opportunity, and get more personalized support on your path to success. If you haven’t already taken our business health self-assessment, it’s a great place to start! Get the clarity you need to take control of your business’ future. Small Business Funding Center Access to capital ensures owners are able to fund growth, pursue opportunities, and respond to unforeseen challenges. Hello Alice’s Small Business Funding Center connects owners with the full continuum of capital — including loans, financing, and credit cards — they need to run their businesses. Featured grant When small businesses succeed, everyone benefits. Join us in shifting your focus forward in 2023 by leaning into your small business dreams. In partnership with the Global Entrepreneurship Network (GEN) and with funding from Etsy and Progressive, Hello Alice is awarding small business owners between $5,000 and $25,000 in grants to help accelerate their growth. To be eligible, a business must have less than $1M in annual revenue, a commitment to their customers and community, and a clear plan to use the grant funds. Apply now. Funding and Financial Literacy Education  Hello Alice offers live events, workshops, accelerators, and digital learning experiences to help entrepreneurs level up and succeed. The following step-by-step guides can help LGBTQ+ owners learn funding strategies and build financial literacy skills: Organize Your Finances Boost Your Personal Credit Score Choose the Right Capital Secure a Loan From a Nonprofit Microlender Write a Winning Grant Application Improve Your Credit Utilization Ratio How a Secured Card Can Support Your Small Business About Hello Alice A Latina-owned company founded by Carolyn Rodz and Elizabeth Gore, Hello Alice (helloalice.com) is a free, multichannel platform that helps businesses grow. We believe in business for all by providing access to all owners, including women, people of color, military-connected individuals, the LGBTQ+ community, persons with disabilities, and every American with an entrepreneurial spirit. For more small business tips and inspiration, create a free account on Hello Alice or subscribe to our weekly newsletter.

In honor of Black History Month, Hello Alice surveyed 3,176 Black small business owners to identify their characteristics and challenges going into 2023.  Published in partnership with Mastercard and the NAACP, the results show that the typical Black owner faces unique barriers to capital that both limit their growth potential and ability to respond to challenges such as inflation. However, Black owners are overall more optimistic about their futures and voiced uncommon perseverance as they pursue innovative ideas and solutions.  You can view and download the full report, titled The 2023 Black-owned Economy: Charting the Needs and Challenges of Black Small Business Owners, here. Below, read four key takeaways about Black small business owners in 2023. 1) A New Generation of Black Entrepreneurs Is on the Rise There is a steady year-over-year increase in the number of Black entrepreneurs, many of whom are very young. Roughly two-thirds of Black owners (66%) are under 40, whereas roughly two-thirds (63%) of non-Black owners are over 40. 2) Black Small Business Owners Are Largely Mission-driven While Black owners said they started businesses for economic reasons, such as to pay their bills and build generational wealth, they widely expressed a desire to give back, make a difference, and help their communities. 3) Access to Capital Is a Unique Barrier to Black Owners’ Success A majority of Black owners identified raising capital (40%) and growing their business (21%) as their top challenge, outweighing other common challenges such as marketing, customer acquisition, and hiring. Nearly 80% of Black owners are considering a financing application to expand their businesses, meet operating expenses, or pay down debt. 4) Black Owners Are Proactively Seeking Solutions Nearly 20 percent more Black owners than non-Black owners said they expect their businesses to grow in 2023, and Black owners are currently 36% more engaged than non-Black owners with Hello Alice education and funding resources. 2023 Resources for Black Small Business Owners Share the following resources with small business owners in your network. Each resource targets the emerging and ongoing challenges recorded by this survey. Small Business Funding Center Access to capital ensures owners are able to fund growth, pursue opportunities, and respond to unforeseen challenges. Hello Alice’s Small Business Funding Center connects owners with the full continuum of capital — including loans, financing, and credit cards — they need to run their businesses. Funding and Financial Literacy Education  Hello Alice offers live events, workshops, accelerators, and digital learning experiences to help entrepreneurs level up and succeed. The following step-by-step guides can help Black owners learn funding strategies and build financial literacy skills: Organize Your Finances Boost Your Personal Credit Score Choose the Right Capital Secure a Loan From a Nonprofit Microlender Write a Winning Grant Application Improve Your Credit Utilization Ratio How a Secured Card Can Support Your Small Business Mastercard Digital Doors® Get the most out of digital tools and protect your business from online threats. Mastercard Digital Doors® helps owners build digital skills, learn to accept customer payments, and master tips and tricks around e-commerce and digital invoicing. Business Solutions Center Hello Alice’s Business Solutions Center curates dozens of offers that save owners time and money. Owners can find special offers on Quickbooks, Finli, and ComplYant — three tools to help Black-owned businesses budget and manage their cash flow. Mastercard Strive Community The Mastercard Strive community operated by Hello Alice is designed to provide an online platform for Black-owned small businesses in Atlanta, Birmingham, Dayton, Los Angeles, New Orleans, New York, St. Louis, and Washington, D.C. Create a free Hello Alice account or log in to join a Mastercard Strive community to connect with each other and access a curated list of funding opportunities, tools, and educational resources to help your small business thrive. About Hello Alice A Latina-owned company founded by Carolyn Rodz and Elizabeth Gore, Hello Alice (helloalice.com) is a free, multichannel platform that helps businesses grow. We believe in business for all by providing access to all owners, including women, people of color, military-connected individuals, the LGBTQ+ community, persons with disabilities, and every American with an entrepreneurial spirit. For more small business tips and inspiration, create a free account on Hello Alice or subscribe to our weekly newsletter.

Women tech founders and technologies designed for women are significantly underrepresented in the startup ecosystem. But why? What can we do to ensure these founders and their innovative ideas are not left behind? To answer these questions, Hello Alice, with funding from Tiger Global Impact Ventures, surveyed nearly 20,000 women tech founders and conducted 19 in-depth interviews with founders and field experts. The results confirmed access to funding as the largest barrier to growing women-founded tech startups. Our research team then sought to build on this understanding and elevate high-potential, high-impact solutions. The result is a report containing our comprehensive roadmap for closing gaps along the capital continuum. Our proposed solutions address the challenges experienced by women tech founders when accessing grants, credit, and equity, respectively. Broken into three pillars, each topic is supported by a series of possible action items. The action items included in this report are by no means exhaustive but include those that the Hello Alice team, in conversation with experts, assigned the highest impact potential. This problem will not be solved by any one person, group, or initiative. Instead, it requires diverse solutions created by diverse stakeholders. We invite you to dive into our recommendations by downloading and reading the full research report. Should you want to review our survey data in more depth, you can find more detail contained in the report’s appendix. More Resources & Context View the Full Research Report View Appendix: Demographics and Data for Women Tech Founders on Hello Alice About Hello Alice A Latina-owned company founded by Carolyn Rodz and Elizabeth Gore, Hello Alice is a free, multichannel platform that helps businesses grow. We believe in business for all by providing access to all owners, including women, people of color, military-connected individuals, the LGBTQ+ community, persons with disabilities, and every American with an entrepreneurial spirit. About Tiger Global Impact Ventures Tiger Global Impact Ventures (TGIV) is a dedicated philanthropic foundation established by Tiger Global, a leading investment firm focused on investing in internet-enabled businesses across both the public and private sectors. TGIV aims to find and fund innovative solutions to some of the world’s most pressing challenges by combining the best of humanity with the best of technology. As one component of a broader philanthropy program, TGIV is currently deploying Tiger Global’s Gender Equity in Tech Fund (T-GET), a $50 million commitment to support organizations changing the technology ecosystem by increasing access, inclusion, representation, and parity for women, girls, and other non-male individuals. Hello Alice is a grantee of TGIV and a member of T-GET. For more small business tips and inspiration create a free account on Hello Alice or subscribe to our weekly newsletter.

Hello Alice surveyed 2,635 small business owners on our platform to understand their overall sentiment and challenges heading into 2023.  Published in partnership with Mastercard, this research elaborates on four key findings to outline small business trends to track throughout 2023. Additionally, results informed a resource list to address owner needs expressed in the survey. Here are four key takeaways about small business owners in 2023: 1) Inflation Remains a Top-of-Mind Concern 69% of small business owners said that the effects of inflation on their businesses worsened throughout 2022, forcing them to increase prices and adjust product offerings. Nearly 70% of owners applied for funding to manage inflation-related challenges in 2022, and another 70% plan to do so in 2023. 2) Owners Are Optimistic They Have the Tools To Grow Small business owners have managed to counteract inflation — so far. Despite clear economic headwinds, 64% of surveyed owners said their business performed better or about the same as in 2021. Similarly, 57% of owners said that their business performed as expected or better in 2022. Overall, small businesses feel well-positioned for success. Almost three-quarters (73%) of surveyed owners predict their businesses will grow in 2023. 3) Marketing Will Be a Key Determinant of Success Top concerns for 2023 include losing customers due to price increases (57%) and not being able to acquire new customers (54%). Owners must optimize their marketing efforts to avoid these outcomes. 4) Current Outlook Hinges on a Potential Recession Twice as many owners plan to hire in 2023 than were actively hiring in 2022. However, 65% of owners are worried about a potential recession, which they fear will reduce sales, limit cash flow, and make it harder to access credit. 2023 Resources for Small Business Owners Share the following resources with small business owners in your network. Each resource targets the emerging and ongoing challenges recorded by this survey. Small Business Funding Center Access to capital ensures owners are able to fund growth, pursue opportunities, and respond to unforeseen challenges. Hello Alice’s Small Business Funding Center connects owners with the full continuum of capital — including loans, financing, and credit cards — they need to run their businesses. Hello Alice Programs Learn best practices and crowdsource wisdom from a community of more than a million small business owners. Hello Alice offers live events, workshops, accelerators, and digital learning experiences to help entrepreneurs level up and succeed. Mastercard Digital Doors® Get the most out of digital tools and protect your business from online threats. Mastercard Digital Doors® provides best-in-class tools and resources to help business owners enhance their digital operations from setting up shop online, digital marketing, cyber security, digital payments, and finance management to be their digital best. Business Solutions Center From services that optimize marketing campaigns to online platforms to hire freelance support, Hello Alice’s Business Solutions Center curates dozens of offers that save owners time and money. Our team recommends the best tools, software, and services to simplify decisions and help small businesses scale. More Resources & Context View and Download the Full 2023 Small Business Outlook Survey About Hello Alice A Latina-owned company founded by Carolyn Rodz and Elizabeth Gore, Hello Alice (helloalice.com) is a free, multichannel platform that helps businesses grow. We believe in business for all by providing access to all owners, including women, people of color, military-connected individuals, the LGBTQ+ community, persons with disabilities, and every American with an entrepreneurial spirit. For more small business tips and inspiration, create a free account on Hello Alice or subscribe to our weekly newsletter.

When Hello Alice surveys our community of more than 1 million small business owners, access to capital consistently ranks as a significant barrier to growth.  We’re proud to work with our partners to provide thousands of small business grants each year to help entrepreneurs grow their companies. As we head into 2023, we want to look back and recognize the latest batch of dreamers named Hello Alice grant recipients this year. Hello Alice 2022 Small Business Grants Stats Hello Alice and its partners awarded 1,008 business grants in all 50 states, plus Washington, D.C., and Puerto Rico. In total, that adds up to $12,873,000 of grant funding distributed in 2022. In addition, our partners offered mentorship, advertising credits, educational resources, and other forms of support as part of certain grant programs. Recipients told us these grants would be used to fund: general operating expenses, utilities, rent, permits, licenses, and/or cost of goods sourcing or expanding inventory marketing/advertising developing a new product or service hiring new employees 2022 Hello Alice Small Business Grant Recipient Demographics Our grant recipients strongly represent all identities and backgrounds that make up the New Majority of small business owners. Specifically, our 2022 recipients are: 75% Female 80% BIPOC 12% LGBTQ+ 23% military affiliated 16% have a disability Full Recipient List of 2022 Hello Alice Grant Programs To learn more about each unique grant opportunity and past recipients, check out the full list and links below: The Accelerate(Her) Fund sponsored by Tiger Global Impact Ventures The Alibaba.com Manifest Grants Program Amazon Black Business Accelerator Connect Amazon Black Business Accelerator (Round 3) Antares REACH Grant Beyond Yoga BGE 2022 Round 1 BGE 2022 Round 2 The BOSS Network and Sage's “Invest in Progress” Grant Democratizing the Friends & Family Round Grant DoorDash Restaurant Disaster Relief Fund (Winter 2021) DoorDash Restaurant Disaster Relief Fund (Spring 2022) Driving Small Business Forward with Progressive® Commercial Insurance eBay Up & Running Grant 2022 The Entrepreneurial Spirit Fund by SIA Scotch 2022 FedEx® Entrepreneur Fund KKR Small Business Builders for Female Founders (Round 7) Local Business Support Fund Small Business Growth Fund 2022 (Round 1) Small Business Growth Fund 2022 (Round 2) Small Business Growth Fund 2022 (Round 3) Sonoma County Alliance Small Business Opportunity Fund More Resources for You Visit the Small Business Funding Center to find new grant opportunities and lending options, including: $25K Small Business Growth Fund, accepting applications until January 6, 2023, from high-growth small businesses $10K Restaurant Disaster Relief Fund, accepting applications until December 30, 2022, from restaurants impacted by natural disasters like fires, floods, and hurricanes Ready to see your name among the list of recipients? Join Hello Alice for free today to be the first to hear about new grant opportunities. Members can complete their profiles and check their Hello Alice dashboards to receive updates about the latest opportunities and solutions for their businesses.

Hello Alice and our partners at Shopify and TikTok were delighted to host Los Angeles small business owners for a third at-capacity, in-person event designed to help owners sleigh the season on Tiktok this holiday and long after.  Following two successful New York events, hundreds of owners from our Los Angeles community gathered in Shopify’s DTLA space on December 6 to learn how to attract customers on Tiktok and set up a strategic plan for success, while enjoying light bites, swag, and jovial networking all around. During each event, special guest creators including Andrea Casanova, who has over 178K followers and 2.5M likes, joined our friends at TikTok to discuss authentic storytelling, fitting content creation into your daily schedule, and how to create videos that cater to TikTok’s unique audience. Specifically, she called attention to new research where Gen Z ranks TikTok as their search engine of choice.   "I don't go to Google any longer to search for answers, I go to TikTok because I know I'll find exactly what I need explained to me in 15 seconds through video,” Andrea explained. With this in mind, she advised that owners cater to the platform by creating how-to and behind-the-scenes content related to their business. Thank you to every New York and Los Angeles small business owner who has attended, asked questions, and made these events three nights to remember. Additional Support for Your Small Business Free Shopify and TikTok Guides Set Up Your Shopify Store Expand Your Reach with Shopify Tools Create a Winning Holiday E-Commerce Strategy Get Started on TikTok Create Scroll-Stopping Content on TikTok Boost Your Results with TikTok Tools New Grant Opportunities Visit the Small Business Funding Center to find new grant opportunities and lending options, including: $25K Small Business Growth Fund, accepting applications until January 6, 2023 from high-growth small businesses $5K Keep It Local Fund, accepting applications until December 16, 2022 from entrepreneurs of color Upcoming Hello Alice Events Get ready for success in 2023 with experiences designed to help you reach your goals: Make Confident Financial Projections for 2023 Workshop, January 19, 2023 Small Business Boost Camp Accelerator, January 23-25, 2023 Learn more about getting forward focused on 2023 with Hello Alice. Free Resources From Our Partners Do you live in NYC or LA? The Shopify calendar is jam-packed with pop-ups, workshops, art parties and more.  See what's upcoming in NYC or LA. Download your free TikTok Holiday Playbook for in-depth tools and resources to help build the business of your dreams on TikTok.

November 3 was a night to remember with more than 100 small business owners from across New York City joining Hello Alice and Mastercard to network and discuss the challenges and triumphs of Black entrepreneurship — all part of the Mastercard Strive tour, encouraging the support of Black-owned small businesses across the country. Guests gathered at the stylish Flatiron District boutique Noir et Blanc and enjoyed drinks from Brooklyn’s Happy Cork as speakers from Mastercard and the Hello Alice community led a lively discussion on breaking down barriers and opening new pathways to success. Speakers included: Ginger Siegel, North America Small Business Lead, Mastercard International  Deann Donahue, VP of Business Development, Mastercard  Natalie Diamond, VP of Business Development, Hello Alice Ken Ebie, Executive Director and CEO, Black Entrepreneurs NYC (BE NYC) Savonne Anderson, owner, Aya Paper Co. Deborah Koenigsburger, owner, Noir et Blanc Deborah Koenigsburger, the recipient of a COVID-19 Business for All Emergency Grant and the owner of Noir et Blanc, inspired the room with her message of resilience and community: “Getting the grant was the first time someone gave me something for my business that I didn’t have to give back. My advice is to educate yourself about what’s out there to help you and take advantage of it. There are a lot of people trying to support our community right now. There are a lot of people that believe in us more than we believe in us. Get on the bandwagon!” Download the full recap of the event now! Wondering if a Mastercard Strive event is heading your way? Join a Strive City chapter now and stay up to date on all Mastercard Strive resources available for you! About the Hello Alice x Mastercard Partnership In partnership with Hello Alice, Mastercard has pledged $500 million to help close the racial wealth and opportunity gap for Black communities across America. Together we’re focused on getting small business owners the capital, technical assistance, and tools they need to grow: The $25K Small Business Grant Fund — open until January 6, 2023 The Hello Alice Small Business Mastercard Mastercard Strive City chapters Educational resources to support digital readiness through Digital Doors

Happy Global Entrepreneurship Week! Celebrated from November 14–20 with over 40,000 events taking place in more than 200 countries around the globe, #GEW2022 is the week for adventurers, dreamers, risk-takers, and small business owners just like you to come together, reflect, plan, strategize, contribute to your community, and — okay — brag a little about just how amazing you are.  Organized by our friends at GEN Global, this year’s celebration focuses on four key pillars: education, inclusion, ecosystems, and policy. Each pillar is at the heart of ensuring small businesses continue to find the resources they need to succeed and contribute to the health of our communities worldwide.  Get out in your community and enjoy Global Entrepreneurship Week. Find a listing of events in your area from GEN Global, and share your story on social with #GEW2022!   Here are four more ways you can celebrate Global Entrepreneurship Week and work to propel your business forward at the same time! Here’s to YOU! 1. Get Educated — No Matter Your Budget or Time to Spare Investing in yourself is critical, even when you’re over-extended, strapped for cash, and trying to make it through the busiest time of year. Keep calm! We’re ready to help you take action and thrive in the year ahead.  Milestones Hello Alice Milestones break down essential business topics like fundraising, marketing, and branding into step-by-step guides to help you level up your operations for FREE any time you need. Get started now. Goal Setting Workshop: Charting the Course for 2023 Refresh your clarity, direction, and focus with this engaging virtual class. Hello Alice Chief Product and Technology Officer Kelsey Ruger will share his science-backed approach to reaching goals and taking charge of your business. Register now: December 9, 2022, at 3 p.m. ET Boost Camp  Reset your business and mindset for 2023 over three powerful days led by Hello Alice Co-founder Carolyn Rodz! Carolyn designed Boost Camp with her own failures and your specific needs in mind. She’s now determined to help you strategically focus your priorities, define your roadmap, and de-risk your business model to change the way you operate and grow — with workshops, feedback, accountability check-ins, loads of invaluable learning, surprises, and incredible guest speakers on the schedule, including: Whitney Wolfe Herd, Founder and CEO of Bumble Sallie Krawcheck Co-founder and CEO of Ellevest Noora Raj Brown, Executive Vice President of Brand at Goop Allan Jones, Founder and CEO of Bambee Phyllis Newhouse, legendary entrepreneur and investor    Register now: January 23-25, 2023, from 11 a.m. – 3 p.m. ET 2. Connect With Your Inclusive Community to Grow You’re part of 1,000,000+ small businesses spanning all industries, demographics, and locations in the Hello Alice community. Every time you attend an in-person or virtual event, apply for a grant, connect with a fellow owner on social media, or even tell somebody about an opportunity on Hello Alice, you’re bolstering the diverse and driven community that we’ve built together.  A few inclusive offerings on Hello Alice right now: Mastercard Strive Join a community of Black-owned small businesses in Atlanta, Birmingham, Dayton, Los Angeles, New Orleans, New York, and St. Louis. The Hello Alice Small Business Secured Mastercard Helps you build or rebuild your credit over time and unlock opportunities as you grow.  Every entrepreneur deserves a chance to secure their financial future! NEW Grant Opportunities Hello Alice, in partnership with the Nextdoor Kind Foundation and NAACP, is now accepting applications for the $5K Keep it Local Business Fund. Preference will be given to businesses in Home & Garden, Personal & Professional Services, Retail, Restaurant/Food Services, Health & Wellness, and Child & Pet Care. Application deadline: Dec. 16, 2022, at 6 p.m. ET The Small Business Growth Fund, in partnership with Mastercard and part of the Year of Small Business movement, offers high-growth small businesses the opportunity to receive a $25,000 grant to help them reach their next big milestone. Application deadline: Jan. 6, 2023, at 6 p.m. ET Search for grants, loans, and other financing options and get the capital you need to grow your businesses in The Hello Alice Small Business Funding Center 3. Access Free Resources from Our Ecosystem Partners Nearly 80% of Hello Alice owners tell us they can’t access the resources they need to grow.  We’re working hard with our trusted partners to break down those barriers and help your small business thrive. FREE resources from our partners designed specifically for New Majority owners:  StartOut supports LGBTQ+ entrepreneurs and startup founders, with community events, one-on-one mentorship, one-on-one office hours with experts, a 6-month accelerator program, and investor connections USHCC Navigates offers free bilingual counseling for the Hispanic entrepreneur community. In partnership with Hello Alice, they’ve also created bilingual guides to grow your business: Understand Your Business Model: English | Español Map Your Business Model: English | Español Create Your Vision Statement: English | Español Choose Your Business Structure: English | Español Create a Competitive Analysis Report: English | Español Write a Traditional Business Plan: English | Español Get an EIN: English | Español Bunker Labs provides community, programs, and courses to help military veterans and military spouses start and grow successful businesses  The SBA offers a multitude of resources, from funding to education, and stellar local assistance opportunities from its invaluable Small Business Development Centers to helpful business mentorship in partnership with SCORE  Likewise, GEN Global is a hub of resources and is especially helpful for staying up-to-date on opportunities in your area to connect and network with other entrepreneurs  4. Advocate for Yourself and Your Community Inflation. Supply-chain woes. Access to capital.  Barriers. Hurdles.  Knowing what you’re up against as an entrepreneur is critical to understanding where advocacy begins. Stay apprised:  Listen to Hello Alice co-founder Elizabeth Gore discuss the overwhelming need for equitable access to capital with GEN’s Jonathan Ortmans in honor of GEW2022, and her recent interview with Cheddar News about military-connected entrepreneurs finding pathways to success. Keep an eye on our Impact Reports to stay up to date on the challenges and needs facing small business owners just like you.  Find out more about the important policy work our partners are doing on your behalf.  Visit the SBA Office of Advocacy and read the latest policy news from GEN Global.  For more information on Global Entrepreneurship Week, head to genglobal.org/gew!

In honor of Veterans Day and Military Family Month, Hello Alice conducted a survey to understand the challenges and needs of military-connected small business owners.  Among the 1,000,000+ small businesses spanning all industries, demographics, and locations in the Hello Alice community, more than 90,000 military-connected owners come to Hello Alice for support, funding opportunities, and resources.  This temperature check captures their unique challenges including accessing and building credit, securing financing, and dealing with the rising costs of marketing. These responses highlight our need to offer more opportunities, solutions, and educational resources to better help serve the entrepreneurs who’ve proudly served our country. Hello Alice is committed to getting these vital resources into the hands of our military-connected communities. Here are some key takeaways about military-connected small business owners in 2022: 1) Military-connected Business Owners Struggle With Raising Capital Raising capital ranks as the number one challenge for military-connected small business owners for the third year running. More than two-thirds of military-connected owners have applied for a traditional bank loan in the last 5 years, and 43% have been denied — significantly higher than the 34% denial rate for non-military owners. 2) Optimism Is Greater Than Among Non-military Owners An overwhelming 87% of military-connected owners currently express confidence that their business will stay afloat (compared to 84% of non-military owners). The overall outlook has improved significantly over the last year. In fact, the portion of military-connected owners who say their business is steady has increased more than 10% QoQ and increased 24% from 2021. 3) Difficulties With Marketing Are Ballooning The portion of military owners ranking marketing as their top challenge has nearly doubled since 2020, and nearly 60% of owners struggling with marketing cite expanding search presence and paid advertising as obstacles.  Military-connected owners were also more likely to cite difficulties with social media and remarketing. The portion of military-connected businesses ranking social media as an obstacle is 38% higher than the portion of non-military businesses. 4) Building Credit Remains an Obstacle When it comes to raising capital, 63% of military-connected owners said building credit is an obstacle — nearly 22 percentage points higher than non-military owners! Almost half (48%) of military-connected owners claimed to have a personal credit card application denied in the last five years, and 33% have had a business credit card application denied. Increasing access to credit would have profound benefits for the military-connected community. According to survey data, 90% of military owners without business credit believe a business credit card would impact their business in a positive way.  Specifically: 54% said they would use the card to cover unexpected expenses 53% said they would use it to pursue new opportunities 51% said it would allow their business to grow more quickly. Partner Spotlight Bunker Labs provides community, programs, and courses to help military veterans and military spouses start and grow successful businesses.  Signature programs include: Veterans in Residence — An early-stage business incubator CEOcircle — A year-long program that builds a brain-trust of peers Ambassador Program — A dynamic program connecting military community business owners in the local entrepreneurial ecosystem More Resources Interested in learning more about military-connected business owners? Download the full Hello Alice report here. Is your company or organization interested in supporting this important work? Or gaining insights about your community of business owners? If so, please reach out to [email protected]. Finally, for media inquiries or interview requests, please contact [email protected].

Over 100 Atlanta small business owners joined Hello Alice and Mastercard on September 13, 2022 for a curated evening of networking, conversation, and light bites while shopping Black-owned small businesses at The Village Retail — all part of the Mastercard Strive tour heading to New York and more cities soon!  The evening featured a lineup of intriguing speakers from Mastercard and the Hello Alice community who discussed the triumphs and challenges of Atlanta’s Black-owned small business community, including:  Paul Wilson JR., Innovation & Entrepreneurship Director,  Russell Innovation Center for EntrepreneurPatrice Jackson, owner, Sweet Honey RoseDr. Erica Gamble, owner, The Wig Dr. Boutique and Hair Loss CenterLakeysha “Dr. Key” Hallmon,  founder and CEO, The Village Retail Market The support, creativity, and energy among all attendees was a reminder of the resilience of Hello Alice’s community of 1M+ owners and our commitment to getting you the resources you need to grow.  Why? As Patrice of Sweet Honey Rose summed it up: “It’s the pride you feel when people keep coming back, time and time again, not just to do you favors – but because your product is changing their lives.”  Download the full recap of the event now! Wondering if a Mastercard Strive event is heading your way? Join a Strive City chapter now and stay up to date on all Mastercard Strive resources available for you! About the Hello Alice and Mastercard Partnership In partnership with Hello Alice, Mastercard has pledged $500 million to help close the racial wealth and opportunity gap for Black communities across America. Together we’re focused on getting small business owners the capital, technical assistance, and tools they need to grow: Grant opportunitiesThe Hello Alice Small Business MastercardMastercard Strive City chaptersEducational resources to support digital readiness through Digital Doors

The 2022 TCS New York City Marathon takes over the streets of NYC on Sunday, November 6, and our friends at Mastercard— proud supporter of New York Road Runners and the TCS New York City Marathon since 2020 — know just how much running a small business is like going the distance each and every day. This year we’re looking for five (5) local businesses who live and breathe New York City and the entrepreneurial ethos that “it’s a marathon, not a sprint” to apply to receive a grant. Mastercard will be awarding $5,000 Small Business Growth Fund grants to one small business in each of the five (5) boroughs of New York City. But hurry — applications for this round of funding close on October 14, 2022, at 6 p.m. ET. Eligible businesses must: ● Be a for-profit business ● Have less than $1M in 2021 gross annual revenue ● Have a commitment to their customers and community ● Have a clear plan for use of funds. The deadline for this round of funding is October 14, 2022, at 6 p.m. ET. Apply now! Additional Support for Your Small Business Small Business Digital Readiness Diagnostic Mastercard’s free Small Business Digital Readiness Diagnostic helps you holistically assess your business across six key strategic dimensions, benchmark yourself against industry best practices, and obtain expert recommendations. Learn more. Mastercard Digital Doors® Now more than ever, having a digital presence is critical. Access resources to get you online, protect your business, and ensure you have the right tools to digitally transform. Learn more.

Are you a woman-founded small business in the food and beverage industry? Would $15,000 help you support your business and better serve your customers?  Hello Alice and Stacy's Pita Chips have partnered for a new grant fund just for you. All you need to do is apply! What is the Stacy's Rise Project? Hello Alice and Stacy's Pita Chips have partnered to offer the latest iteration of the Stacy's Rise Project. Created to help bridge the funding gap for founders, the Stacy’s Rise Project has been connecting and empowering small business owners for years. But Stacy’s Pita Chips wasn’t always a household name. Marketing, mentorship, and monetary support helped this brand rise from a humble sandwich cart to the nation’s supermarkets. And it’s these same resources that today’s entrepreneurs need to succeed — now, more than ever. The Stacy's Rise Project will award $15,000 grants to 10 women-founded small businesses in the food and beverage industry. For chef Jocelyn Ramirez (pictured above), founder of LA-based Toto Verde and a 2021 Stacy's Rise recipient: "This funding will be used towards our launch efforts for our first plant-based product line of seasoning, helping our community in making more easy delicious, and culturally relevant meals at home." What will $15k help you accomplish? We want to know! Who is eligible for this grant funding?  To be eligible, applicants must: ​​Be a for-profit U.S.- based business selling a consumer packaged good (CPG)Be at least 50% woman-founded (based on original founding, not current investment ownership)Have annualized sales of between $25,000 and $1M. Other eligibility criteria include:  Must be willing to participate in a virtual mentorship programMust not be part of an accelerator program at the time of participation For a full list of eligibility criteria, see the terms and conditions. When is the deadline?  Applications open now through October 21, 2022, at 6 p.m. ET. Apply now! Hop over to our funding center to find even more funding opportunities.

Hello Alice, the free platform helping over one million small businesses launch and grow, today proudly announced the launch of the Hello Alice Small Business Mastercard as it broadens its suite of inclusive capital products. In partnership with Mastercard, the exclusive payments network, and First National Bank of Omaha (FNBO), the card offers small business owners industry-leading accessibility to tools and services including expert business advice, powerful business insights, cashback, and a unique rewards program featuring the ability to earn points by completing business-advancing activities on the Hello Alice platform. "We designed the Hello Alice Small Business Mastercard to meet the needs of small business owners where they are, breaking longstanding barriers to mentorship, access to credit, and overall financial health for those who have traditionally been denied access," said Elizabeth Gore and Carolyn Rodz, co-founders of Hello Alice, "In times of economic boom and bust, access to capital remains the leading challenge for all small business owners, and particularly for New Majority owners, which is why we continue to focus our efforts on expanding the capital continuum beyond our existing grants and loans programs." To maximize capital accessibility for all small business owners, the Hello Alice Small Business Mastercard will be offered as a traditional credit card as well as one with additional provisions to help with credit-building. For business owners with a limited or poor credit history, the credit-building credit card provides cardholders full card benefits while they improve their credit. In as few as twelve months, small business owners may, subject to credit approval, seamlessly graduate from a secured to an unsecured card, a unique feature in the market. "Small businesses are the backbone of our communities, yet too often face significant obstacles in securing the resources they deserve, particularly if the owners come from underserved communities," said Linda Kirkpatrick, president for North America at Mastercard. "The launch of the Hello Alice Small Business Mastercard is an important step in our mission to build a more inclusive digital economy by providing small businesses with the financial tools and capital they need to thrive, while also advancing our half-billion-dollar commitment to help close the racial wealth and opportunity gap for Black communities." The card is part of Hello Alice's larger Equitable Access to Capital program, a commitment to ensure that all small businesses have access to the capital they need to grow the sustainable businesses that power the national economy. The program provides all of the financial products, tools, and education for owners to scale their businesses, including its own grant fund providing security deposits for high-potential but credit-challenged small business owners. By 2025, Hello Alice estimates that approximately $70 million in grants could fund credit enhancements for approximately 30,000 business owners, unlocking up to $1 billion in credit access. Entrepreneurs who are women, people of color, members of the LGBTQIA+ community, veterans, or people with disabilities continue to face barriers to accessing the capital they need for long-term success. In the latest Small Business Capital Access Study completed by Hello Alice*, seventy-eight percent of small business owners claim access to capital is limiting their ability to manage their day-to-day operations, with Black (84%) and Multi-Racial (82%) owners over-indexing on this claim. Eighty-nine percent of owners claim access to capital is limiting their business growth potential. The added stress of the pandemic and its lasting effects continue to impact small businesses. In a recent Hello Alice survey of Black business owners, 34%** of Black owners cited raising capital as their primary obstacle in 2022. "FNBO has been committed to helping small businesses succeed for 165 years, and we are proud to partner with Hello Alice and Mastercard in this vital initiative to elevate all small businesses," said Jerry J. O'Flanagan, Executive Vice President, Partner Customer Segment at First National Bank of Omaha. Hello Alice serves a diverse community of business owners across the country. Approximately 68% of owners are BIPOC, 63% are female, and 17% are military-affiliated. For small business owners interested in learning more about the card, please visit https://hialice.co/meet-the-card. Please direct all media requests to Renee Rossi, [email protected]. *Based on data compiled from 2,978 small business owners across all 50 states. **Based on data compiled from 30,500 Black business owners across all 50 states. ABOUT HELLO ALICE  Founded by Carolyn Rodz and Elizabeth Gore, Hello Alice is a free platform serving more than one million small business owners across the United States. Committed to equitable access to capital for women, people of color, members of the LGBTQ+ community, veterans, and entrepreneurs with disabilities, Hello Alice offers funding, education, tools, and curated opportunities. Working with enterprise business services, ecosystem partners, affiliates, and government agencies, Hello Alice provides its growing community with everything they need to grow their businesses. To learn more, visit www.helloalice.com, as well as Twitter, LinkedIn, Instagram, and Facebook. ABOUT MASTERCARD (NYSE: MA)  Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. www.mastercard.com ABOUT FIRST NATIONAL BANK OF OMAHA  First National Bank of Omaha (FNBO) is a leader in the credit card partnership arena, with partners in a variety of industries including retail, travel, entertainment, automotive, oil, nonprofits and more. For over 60 years, FNBO has specialized in providing comprehensive credit card programs with personalized service to help its customers achieve their goals. Visit card.fnbo.com for more information.

We’re proud to announce the recipients of the Restaurant Disaster Relief Fund! Each of these 13 restaurants will receive a $10,000 grant for rent, utilities, maintenance, supplies, payroll, and other essential expenses. DoorDash launched the Restaurant Disaster Relief Fund as part of its ongoing five-year, $200 million Main Street Strong pledge to empower local communities. In partnership with Hello Alice, DoorDash has also developed step-by-step guides to help business owners both prepare for a disaster before it strikes and how to recover and rebuild their businesses in the aftermath. "This grant means we can finally begin improvement projects and ultimately reopen dine-in for our loyal guests who have been long-awaiting our sit-down service," says recipient Nur-E Rahman (pictured above) of Jersey City-based Bangladeshi eatery Korai Kitchen. "We are so grateful." Congrats to the recipients below, and save the date: Round 3 of the Restaurant Disaster Relief Fund is currently open and closes on September 23. Apply today! Spring 2022 Recipients Winter 2021 Recipients Looking for more grant opportunities and lending options to the Small Business Funding Center to find more grant opportunities and lending options.

New Majority business owners say a key barrier to fundraising is not knowing what to expect. And we don’t blame anyone for feeling this way — fear of the unknown is real. As business owner Gwendolyn Washington told the Kaufman Foundation, “What you lack [is] the community ... a line of people who you already know who can teach you and support you.” To help break down this barrier, Hello Alice has partnered with Silicon Valley Bank to create a milestone with practical steps for fundraising preparation and all it entails. Broken down into three guides, this milestone includes actionable information to get you on the road to reaching your fundraising goals. In addition to these go-at-your-own-pace guides, we’ll also hosted three, free Ask-Me-Anything events, during which industry experts from Silicon Valley Bank answered any questions about the topics covered in each guide.  Missed the live AMAs? Check out the recordings below to catch up on how to find and secure funding for your business now! 1. Determine How Much to Raise Understanding how much money you truly need is the first step to protecting ownership of your business. Early money is likely the most expensive money you’ll take — and it’s important to ensure it doesn’t come with too many strings attached. The first guide in the milestone, Determine How Much to Raise, will help you through this crucial process. Watch the full Ask-Me-Anything, featuring Silicon Valley Bank's Sophie Nazarian, and Kristin Olszewski, founder and CEO of Nomadica, below! https://www.youtube.com/watch?v=JGUitvnSXEU 2. Design Your Pitch Deck The second guide, Design Your Pitch Deck, will help you craft a solid pitch deck to present to potential investors. Because venture capitalists and angel investors wade through hundreds of startup pitch decks every year, a complete and well-positioned deck can help your business stand out from the crowd. Watch Silicon Valley Bank's Sophie Nazerian and Micaela Amaroli, and Jennifer Richard, Principal at Bonfire Ventures, talk pitch decks below! https://www.youtube.com/watch?v=nquMaLS2uJU 3. Negotiate and Close the Deal The last guide of the milestone, Negotiate and Close the Deal, offers direction once you’ve garnered the attention of investors. With these tips and insights, you’ll be well on your way to securing capital for your business. Silicon Valley Bank's Micaela Amaroli, and Louise Fritjoffson, founder of Martie, walk you through even more tips below. Are you ready to start fundraising and increase your capital? Time to get started! https://www.youtube.com/watch?v=0jfoxmoX1tg For more small business tips and inspiration create a free account on Hello Alice or subscribe to our weekly newsletter.

If your small business received a $10,000 grant, what would be your next big move?  That’s what we want to know from anyone applying for The Entrepreneurial Spirit Fund by SIA Scotch. What is The Entrepreneurial Spirit Fund by Sia Scotch? Part of the Year of Small Business movement, this grant program addresses small business owners’ number one need: access to capital. Each recipient will receive a $10,000 grant to accelerate their growth and help make 2022 the year of their small business. "The support from SIA Scotch further solidifies our purpose and mission to bring people to the table. !Muchísimas Gracias!" says Sandra Portal-Andreu (pictured above), artist and co-founder of eco-friendly company Tappas, one of twenty five outstanding recipients funded in 2021.  Who is eligible for this grant funding? Eligible businesses must: Be owned 51%+ by person(s) of colorBe a for-profit business producing less than $5M in annual gross revenueOperate and/or conduct business in at least one of the following states: CA, CO, CT, FL, GA, IL, MA, MN, NJ, NV, NY, RI and/or TX.NOT be an alcohol beverage retail license holder (such as a bar, restaurant, hotel, or store which sells or serves alcohol) or a business which makes alcohol Eligible applicants must: Be a citizen or legal permanent resident of the United StatesBe at least 25 years or older as of November 1, 2022 Be the owner or an individual who is legally authorized to bind the Business for purposes of participation in the ProgramNOT have ownership interest and/or be invested in an alcohol beverage retail license holder (such as a business or establishment which owns a license to make, sell or serve alcohol)NOT be an employee of a retail license holder Preference will be given to businesses in the food and beverage industry, such as those who offer products and services across kitchenware, glassware, barware, cocktail mixers, at-home entertaining/party planning, food trucks, cafes, food and beverage blogging, recipe curation, and more.  Additional restrictions apply. See the terms and conditions for details. Do I need to submit a new application if I applied in 2021? If you applied and were not selected as a recipient previously you are welcome to submit a new application. We will evaluate your application based on any new information and judge it against a new pool of applicants! Everyone who applies receives free access to the thousands of curated resources and a community of nearly one million small business owners on Hello Alice. When is the deadline? The application deadline is September 26, at 6 p.m. ET. Learn more and apply today! Still have questions? Read our FAQ. Sponsored by SIA Scotch Whisky. PLEASE DRINK RESPONSIBLY. SIA Blended Scotch Whisky. 43% Alc/Vol. Imported by Diageo, New York, NY. Do not share with anyone under the age of 21. Restrictions apply.

Maryland small business owners can now apply for the next round of a grant program funded by BGE in partnership with Hello Alice and the Global Entrepreneurship Network. Launched in January 2021, the BGE Energizing Small Business Grants will distribute $5 million to Maryland small business owners seeking COVID-19 relief during this second round of funding for 2022. Eligible businesses located in BGE’s central Maryland service area can apply for a grant of $20,000 each. Applicants will need to demonstrate financial need, and preference will be given to New Majority business owners disproportionately impacted by the pandemic. Applications are now open until August 26, 2022, at 6 p.m. ET.  Applicants must be a for-profit business and an existing BGE electric and/or gas customer with positive BGE credit history. Other eligibility criteria include: For-profit business founded in 2020 or priorIn good standing (or on the way to) with the State of MarylandA maximum of twenty-five (25) employees Annual gross revenues in 2021 of less than $7 million USDDemonstrated need for funding to support business and serve customers If you applied and were not selected for previous rounds of the program, you are welcome to submit a new application. We will evaluate your application based on any new information and judge it against a new pool of applicants!  “Our hope is that the BGE Energizing Small Business Grants will provide much-needed help to hundreds of small businesses in our community, especially historically underrepresented minority and women-owned businesses," said BGE CEO Carim Khouzami. "This is part of a multi-layered plan to provide direct assistance to energy customers, area nonprofits, and government partners to help put Maryland back on its feet for the long-term, as the public health crisis begins to lift.” Hundreds of recipients have been announced as part of the 2021 funding rounds and first round of 2022.  Arion Long, Founder & CEO of Femly, a for-profit social enterprise that increases access to natural & organic feminine hygiene products based in Baltimore, MD, was a recipient of a 2021 BGE Energizing Small Business Grant. She says, “This funding will help our organization scale to stock restrooms and do our part to end ‘period poverty.’” Visit bge.helloalice.com to learn more about the program and apply for the grant today!

Hello Alice is proud to announce the recipients of the Small Business Growth Fund!  What is the Small Business Growth Fund?  Part of the Year of Small Business movement, the Small Business Growth Fund exists to empower small business owners and strengthen the overall small business economy by addressing SMBs' number one need: access to capital. Now in its second round of funding, each recipient will receive a $5,000 grant, provided by Mastercard, to accelerate their growth and help make 2022 the year of their small business. The Small Business Growth Fund Recipients  Hello Alice is proud to say that many recipients identify as part of the New Majority of small business owners: 67% people of color69% women7% military-affiliated36% LGBTQIA+22% people with disabilities While their businesses span a variety of industries and stages of growth, the recipients all share a common commitment to impact. Each owner told us how they create jobs, integrate social impact, and donate to local causes and organizations. "We are running a camp called Mini Money Runners this summer in Antonito, Colorado," says Lorne Jenkins (pictured above), founder of Mini Money, a financial literacy app and educational program for schools. "The average income in the county is $22,000 and it is 82% Latino. This grant funding will go to funding the financial literacy portion of the camp, and pay teachers to host workshops that cover money, emotions, budgeting, and entrepreneurship throughout the six-week sessions." Get to know the full list of Small Business Growth Fund recipients below, and visit the Small Business Funding Center to find more grant opportunities and lending options. Round 2 Grant Recipients Round 1 Grant Recipients For more small business funding opportunities and inspiration create a free account on Hello Alice or subscribe to our weekly newsletter.

We’re proud to announce the recipients of the BGE Energizing Small Business Grants! What is the BGE Energizing Small Business Grants Program? BGE has pledged $15 million to assist Maryland’s small businesses with COVID-19 relief and recovery. With support and guidance from Hello Alice and the Global Entrepreneurship Network, BGE created the Energizing Small Business Grants program which provides recipients $20,000 grants. Hundreds of recipients have already been announced as part of the 2021 funding rounds! The BGE Energizing Small Business Grants Recipients To qualify for the first round of 2022 funding, Maryland-based, for-profit businesses had to be founded in or prior to 2020, be in good standing with the State of Maryland, have fewer than 25 employees, have a gross annual revenue of less than $7M for 2021, and be able to demonstrate a need for funding that supports their business and serves their customers. Congratulations to all BGE Energizing Small Business Grants recipients! Round 1 Grant Recipients, 2022 Round 3 Grant Recipients, 2021 Round 2 Grant Recipients, 2021 Round 1 Grant Recipients, 2021 For more small business funding opportunities and inspiration create a free account on Hello Alice or subscribe to our weekly newsletter.

If you’re a small or medium-sized business (SMB) owner looking to better manage your business finances as you grow and scale, a small business credit card might be the solution you’re looking for.  For starters, this type of credit card can help provide the capital you need to help unlock your company’s true potential.  While delivering immediate access to funding, small business credit cards can also bring exciting rewards, 0% introductory APR, purchase protection, streamlined expense tracking, and more.  But we’re getting a little ahead of ourselves.  Read on for our complete guide to small business credit cards (and the many benefits they deliver). What Is a Small Business Credit Card? A small business credit card is a credit card designed specifically with the interests of SMBs and entrepreneurs in mind.  Although it may seem similar at first glance to a personal credit card, a small business credit card has much more to offer, including higher credit limits, broader rewards categories, and stronger business-related perks. For example, let’s say Lucas wants to upgrade the espresso machine in his downtown café.Urban coffeeshops are competitive, so he wants to purchase the best machine possible.  The model he has in mind costs $12,000, nearly double his personal credit limit. While that’s far too much to charge on his personal credit card, it’s perfect for his small business credit card.  After all, his small business credit limit is $50,000 (roughly average for American entrepreneurs). Thanks to his small business credit card, Lucas can purchase the espresso machine with ease.  And while he’s serving delicious coffee, he can also enjoy his card’s great reward system, like earning travel miles, gift cards, and cash back. Why Should SMBs Consider a Small Business Credit Card? The financial benefits of a small business credit card are undeniable. As we’ve mentioned, it can provide fast access to capital—with a high credit limit— while offering amazing perks along the way. But that’s only the beginning. Small business credit cards can also provide 0% introductory APR, which empowers SMBs to hit the ground running. As you make purchases for your business, this type of card will help separate your personal and business expenses. At the end of each calendar year, it will also provide an itemized report for you to use during tax season. It’s like having a personal business accountant right in your wallet. This not only spares you the headache of organizing your business finances, but it helps position you to receive an enhanced tax refund that you can immediately reinvest back into your company. It’s a win-win-win.  The (Many) Benefits of a Small Business Credit Card  For a tiny piece of plastic, a small business credit card offers some massive advantages.  While we’ve already introduced the basics, the following list affirms how many benefits a small business credit card can provide, including: High credit limits. Enhanced cash flow. Long interest-free periods. Enticing rewards programs. Itemized expense reports. Zero liability protection. Car rental insurance. Sign up bonuses/statement credits. Oh, and there’s another feature worth a mention, which deserves its own section. How an SMB Credit Card Can Help Build Business Credit A small business credit card can even help you build business credit and promote the longevity of your company. In simple terms, business credit provides a way for financial institutions to evaluate the financial health of your company. It’s a key metric that they use to determine how much money they are willing to lend your business. As with your personal credit score, a strong business credit score can help you secure a higher loan, and more favorable loan rates and terms.  There are many ways to build business credit—a small business credit card can help you do it fast.  In many cases, small business credit cards can be obtained even without a preexisting business credit profile.  Just like with personal credit, on-time monthly bill payments and low credit utilization—i.e., borrowing below 30% of your total available credit limit—go a long way to building your company’s business credit.  When you use your credit wisely and pay your bills on time, your business credit score will quickly grow. Conversely, any missed payments or delinquencies will quickly lower your business credit. Paying your credit card bills on time does more than protect your credit profile—it helps you save money by avoiding the cost of compound interest. Better yet, as you grow your business credit, you will continually show lending institutions that you’re a responsible borrower. Over time, you will qualify for improved borrowing terms, perks, and loans.  In other words, a small business credit card can help establish a firm foundation for your company’s financial future. Choosing the Right Small Business Credit Card Which SMB credit card is right for your business? It depends on what you value most.  Start by determining the credit limit you need (and can reasonably acquire). In most cases, the higher your business credit score and gross annual revenue, the higher your business credit limit will be. Once you find a few compelling offers, look closely at the details and determine your priorities. For example, maybe you want a small business credit card that provides certain rewards, like cash back for office supply purchases or extra points for client dinners.  Or, maybe you want to keep interest rates down and choose a card with 0% intro APR.  Perhaps you want to avoid annual fees—or at least keep them as close to zero as possible. You may also want the option to issue employee cards and set individual spending limits for your team.  Take your time, and carefully research all available options. It’s important to remember that while perks and extras can be great, they can also be distracting (who doesn’t like cashback, right?). The goal is to find a long-term financial partner that offers a card that aligns with your business’ strategic priorities.  Small Business Credit Card FAQ Business finance can be confusing, especially when it comes to small business credit cards. Before we discuss how to apply for a small business credit card, let’s answer some of the most common questions we typically receive from our community of SMBs and entrepreneurs. .  1. Does My Business Need To Be Registered or Incorporated To Qualify? No. In fact, sole proprietors, partnerships, and freelancers can all qualify for a small business credit card. While it may be helpful to have an employer identification number (EIN), it’s not required.  2.  I Don’t Have Any Employees, Can I Still Apply? Absolutely! For most credit card providers, you don’t need to have any employees to qualify for a small business credit card. Plus, as we mentioned above, freelancers, gig workers, LLCs and home-based companies can easily qualify.  3.  Are My Personal Credit Score and Business Credit Score the Same Thing? No. Your personal and business credit scores are independent of each other. However, your personal credit history may have an influence on your business credit applications. Your personal credit score—also known as your FICO® score—helps financial institutions determine how much credit to lend you (and at what rate). Credit bureaus like Experian, Equifax, and TransUnion oversee your credit report.  In a similar way, your business credit score helps financial institutions determine if your company is a good candidate for corporate debt financing.  The major business credit bureaus include companies like Equifax and Dun & Bradstreet, both of which employ a 100-point scale to rank your business credit (as opposed to the 300–850 FICO® scale). 4.   Can My Employees Have Their Own Credit Cards? Yes! Most credit card providers allow cardholders to assign credit cards to their employees. Some do so for free, while others charge a small fee per card.  While your business card program will establish an overarching credit limit for your company, you will be able to set spending limits for your individual employees. 5. What Kind of Expenses Can a Small Business Credit Card Be Used For? A small business credit card can be used for various expenses integral to your business operations, including buying office supplies, equipment, and furniture necessary for day-to-day activities.  It's also used for purchasing inventory and raw materials, facilitating sales or production. Additionally, business credit cards can cover travel costs, utility bills, advertising, and even professional services like legal or consulting fees. How to Apply for a Small Business Credit Card While it may take some time to choose the right business credit card provider, the actual application process is typically quite simple.  Here’s what you’ll generally need to apply for a small business credit card: Business name and contact information, including the address and phone number used to register your company. If you run a home-based business, you can use your home address. Time in business, which means when your business was formally established (i.e., the number of years your business has been open). Federal tax ID, which may include your employer identification number (EIN), your individual tax identification number, or your Social Security number (SSN), depending on your business structure. Business structure, which indicates if you’re a corporation, an LLC, a nonprofit, a partnership, or a sole proprietorship. Number of employees, meaning everyone on company payroll (except yourself). Business revenue (and expenses), which lists your annual business revenue and an estimate of the monthly charges you expect to make on your small business credit card.  To acquire a small business credit card, some of your personal financial information will also be required by the card provider.   To that end, be prepared to provide the following: Full legal name. Date of birth. Social Security (SSN) or individual taxpayer identification number (ITIN). Home address. Contact information. Annual income (this includes all income streams, not just from your business). Remember, the process may vary from provider to provider. In most cases, what you need to apply can be easily found on a given provider’s website.  Earn, Redeem, Grow: The Hello Alice Small Business Mastercard® Small businesses are the heart and soul of America.  As an entrepreneur, you’re doing more than supporting the economy. You’re connecting people, families, and communities with amazing products/services and the promise of a brighter future. At Hello Alice, we’re dedicated to guiding your business venture with funding opportunities, expert advice, and a supportive community that has your best interests at heart. That’s why we’re thrilled to provide entrepreneurs with the Hello Alice Small Business Mastercard®—the card that comes with connections.  Interested in learning more about our card and its benefits? Check out our small business credit card features page. Cards are issued by First National Bank of Omaha (FNBO) pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.

A small business credit card can be a powerful financial tool—if you know how to use it effectively.  With the right strategy, your business can accomplish incredible things. With the wrong strategy, even your best laid plans could be undermined. It all comes down to the details, and today, we’re going to give you the tools you need to succeed. In this short guide, we’ll introduce you to Hello Alice’s best practices for using a small business credit card.  We’ll discuss how you can leverage your credit card’s features, strengthen your business credit, and avoid common financial pitfalls along the way. Let’s get started! Small Business Credit Card: A Brief Overview As a small business owner, you understand the value of patience. You know that in today's crowded SMB market, everything takes time—from conceptualizing your company, to building your brand, to obtaining sufficient capital. In a world where time is of the essence, a small business credit card provides a competitive advantage as it gives you immediate access to funding. As soon as you qualify for a card, you can make essential purchases and enhance your business in profound new ways. And that’s only part of the picture.  A small business credit card typically has higher spending limits than consumer credit cards, and it will often come with 0% introductory APR.  Plus, after you qualify for a small business credit card, you’ll be able to start earning points, cashback, and other great rewards.  Best of all, your small business credit card can help you build business credit over time—which will unlock a wide variety of financial products to help you secure your business’ future.  Want to learn more about the many benefits of small business credit cards? Check out our comprehensive guide to learn more! Small Business Credit Card Best Practices Sometimes, it’s important to acknowledge hard truths. So here it goes: more often than not, we’re on our own when it comes to financial literacy. That’s true for consumers and small business owners alike.  While cars and computers come with user manuals, financial products generally do not. In fact, most credit card providers simply seem to say “good luck,” before leaving us with more questions than answers (and multiple pages of fine print). When it comes to your economic well-being (and the economic well-being of your business) you’re often the first and last line of defense. Not to fear: at Hello Alice, we are here to help. In the section below you will find our seven essential best practices for using your small business credit card. While this list is non-exhaustive, it should get you on the right track as you begin your small business credit card adventure. 1. Leverage Your Credit Card's Features Once you qualify for a small business credit card, it’s crucial to adjust the way you make purchases according to the type of card you opened and the features it offers. For example, let’s say your new small business credit card lets you earn 2x points on all eligible rideshares and restaurant purchases.  In that case, you’ll want to ensure you put every business-related Uber or Lyft on the card, along with each client dinner.  That’s just one of the many ways to leverage your credit card’s specific perks. Over time, you’ll be able to rack up points, enjoy great rewards, and reinvest your earnings back into the business. P.S. Don’t hesitate to put every eligible business expense on the card, however small it may seem. After all, most business expenses are tax-deductible. The more you spend, the more you save! 2. Maintain a Healthy Credit Utilization Ratio According to financial experts, you should never borrow more than 30% of your total credit limit. The reason is clear: when your credit utilization ratio exceeds 30%, your credit score drops. And what is your “credit utilization ratio,” exactly? It’s a simple mathematical formula: the amount of credit you’re using, divided by the total amount of credit you have available.  For example, let’s say you have two business credit cards—one with a $5,000 credit limit, and another with a $25,000 credit limit. In that case, your total credit limit would be $30,000.  To maintain a healthy credit utilization ratio of 30%, you should try to use no more than $9,000 at any given time. This may seem like a juggling act at first, but it will help preserve your financial health, protect you from getting overextended, and even improve your business credit score.  3. Pay Your Bills On Time In contrast to your individual FICO score, which adheres to a common industry standard, the calculation of business scores differs across the three major reporting agencies: Dun & Bradstreet, Equifax, and Experian.  These agencies don't uniformly gather and authenticate the same kinds of data, and the elements they consider in their assessment vary. However, there is a category that all three consider vital when measuring creditworthiness: payment history/delinquency. That’s why it’s so important to always pay your bills on time. In fact, timely payments are one of the best ways to improve your score, just as late payments are a sure way to drive it down.  Worse yet, delinquent payments can quickly drive up compound interest and initiate a debt spiral for your business.  4. Use Your Card To Build Business Credit Whenever you pay your credit card on time (and in full), you essentially tell your credit card provider: “I’m financially responsible. Let’s stay in business together.” Each timely payment is another step in the right direction towards building a solid business credit score.  Rest assured, over time, leading bureaus like Dun & Bradstreet will take note of your resolve and make it easier for you to access better financial products (and with more attractive terms).  5. Keep Business and Personal Expenses Separate Small business credit cards help promote better bookkeeping.  After all, they provide an easy way to separate your personal and business expenses. In fact, some small business credit cards will automatically create an itemized PDF expense report at the end of the year. That alone will save you countless hours come tax season. Nevertheless, small business credit cards can actually make things a little too convenient. After all, it’s easy to start swiping away at Starbucks and forget that your card is only for business expenses. While it’s not illegal to use a small business credit card for personal needs, you should avoid it. In most cases, putting personal expenses on a small business credit card will break the terms of your agreement and lead to the termination of your account. In summary: it’s best to keep business and personal expenses separate. After all, business expenses are generally tax-deductible, and you’ll want to preserve that essential perk when tax season rolls around (especially if the IRS ever conducts an audit). 6. Regularly Review Your Account Statements and Credit Report  The digital economy moves at the speed of light. No matter how busy you are leading your company, it’s important to remember that small errors can creep into your business accounts and undermine your SMB’s financial wellness. That’s why it’s vital to consistently review your account statements and ensure all charges are legitimate. While it’s a great way to save money, it’s also an essential strategy to eliminate potentially fraudulent behavior. With that in mind, it’s equally important to review your business credit report at least once a year. Remember: each of the three major credit bureaus—Equifax Business, Experian Business, and Dun & Bradstreet—has their own scoring system for your business credit report. In other words, while each credit report may be similar, they’re not the same. So be sure to request a copy of your business credit report from each agency and carefully inspect them all. Note: If you identify any errors on a report, contact the appropriate credit bureau immediately. 7. Secure Your Card Information and Employee Spending Cybercrime is a reality in our digital economy, and small business credit cards are quite desirable to hackers. To protect your account, effectively educate your employees, implement two-factor authentication wherever possible, and update your password(s) as regularly as you can. It’s equally important for your employees to stay in control of their credit card spending. If you provide corporate cards to your staff, ensure that you promote an environment of accountability.  Carefully set credit card limits for employees, and demand itemized receipts for all purchases.  While these policies may seem stringent, they are essential to the financial health of your firm.  Earn, Redeem, Grow: The Hello Alice Small Business Mastercard® Now that you are familiar with some of the foundational best practices for using your small business credit card, you’re in a better position to fully leverage your card’s features as you protect your credit score and build business credit. At Hello Alice, we’re dedicated to your short and long-term success.  A core tenet of what we do and who we are is financial education and empowerment. That’s why the Hello Alice Small Business Mastercard® comes with 1-1 business coaching with professional advisors—plus a number of additional benefits. To learn more about Hello Alice and how we can help grow your business through grants, education, and our small business credit card, we recommend reading through our FAQs page. Cards are issued by First National Bank of Omaha (FNBO) pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.

Maryland small business owners can now apply for the next round of a grant program funded by BGE and Howard County in partnership with Hello Alice and the Global Entrepreneurship Network. In 2023, the BGE Energizing Small Business grant program, with funding from Howard County, is offering funding to help central Maryland businesses succeed and thrive. Applications are now open until August 18, 2023, at 6 p.m. ET.  We value diversity, equity and inclusion so preference will be given to minority-owned and woman-owned businesses. Other eligibility criteria include: For-profit business founded in 2021 or prior In good standing (or on the way to) with the State of Maryland A maximum of twenty-five (25) employees Annual gross revenues in 2022 of less than $7 million USD Demonstrated need for funding to support business and serve customers If you applied and were not selected for previous rounds of the program, you are welcome to submit a new application. We will evaluate your application based on any new information and judge it against a new pool of applicants!  Fill out an application here!

Big news for small businesses: Antares, Hello Alice and the Global Entrepreneurship Network have teamed up to provide funding for small business gearing up to grow. All you need to do is apply. What is the Antares REACH Grant Program? The Antares REACH Grant Program, presented in partnership with the Global Entrepreneurship Network (GEN), will provide $20,000 grants to small businesses, with an emphasis on those that have an established product/market fit, have a clearly identified need for growth capital, and are owned by historically underrepresented entrepreneurs. Eligibility To be eligible, a business must: Be a for-profit business that is majority (51%+) owned by an individual(s) who is from a historically underrepresented group(s)(HUGs): (Womxn, People of color, Military-affiliated, Persons with disabilities, or LGBTQ+) Have a venture-scalable or venture-viable product or service Have generated a minimum of $25,000 USD in revenue in 2022 Complete the Business Health Score prior to application close (the results of the BHS will not impact eligibility for the program) Have a demonstrated need for funding to support growth For a full list of eligibility criteria, please see the terms and conditions. The Antares REACH Grant Program represents the intersection of connected charitable giving; community engagement; and deep commitment to diversity and inclusion.  https://www.youtube.com/watch?time_continue=29&v=xRXzEGPCfjQ&feature=emb_logo How to Apply Visit the funding center to learn more about the program and apply for the grant today!

We're proud to announce the recipients of the Sonoma County Alliance Small Business Opportunity Fund! What is the Sonoma County Alliance Small Business Opportunity Fund? The Sonoma County Alliance is a coalition of business, agriculture, labor, and individuals organized to encourage a healthy economy, maintain a sound environment, protect private property rights, and promote a responsive political process.  Understanding that raising capital or finding loans is one of the greatest challenges facing small business owners today, this multi-year small business grant program supports the rejuvenation and growth of the Sonoma County community, prioritizing business owners who traditionally lack access to capital. Grants between $1,000 and $5,000 will be awarded to local businesses looking to make a capital investment in their future. Sonoma County Alliance Small Business Opportunity Fund Recipients To qualify, for-profit businesses located in Sonoma County had to be in operation for at least a year and have fewer than 25 employees.  The recipients all have big plans and big dreams and know exactly how to use these funds to help their businesses grow. Congratulations to all recipients listed below. They'll each receive a grant between $1,000 and $5,000! Round 2 Recipients Sierra Hooshiari New Age Drinks Samantha Paone Golden State Pickle Works Jennifer Price, DC The Posture Chiropractor Sara Romero SRC Botanicals Visit the Hello Alice Funding Center to view our current grant programs and subscribe to the Hello Alice newsletter to stay up-to-date on future programs and funding opportunities. 

Building your own website offers many functions to your business. It can tell your story, provide information about your products and services, and serve as a tool to sell online. And when thinking about the ways to adapt or pivot your business in the face of the pandemic, bringing your business online should be top of mind. “We live in a world where the first thing people do when they want to find something is search the web,” says Sarang Patel, senior product manager at Hello Alice. “During this unexpected time, with more people staying inside and spending time online, a website is a great way to make a first impression.” This first impression is key when introducing your business to new audiences. But how can founders create their own website? Website platforms like Squarespace, WordPress, and Shopify make it accessible for anyone to build a website without coding knowledge or software skills (as Hello Alice software engineer Karrie Cheng previously pointed out). And these do-it-yourself tools enable you to build the right website for your business — each with plenty on online support, whether from FAQs or via customer support phone lines. “Common web platforms support integrations, or extensions, to other useful tools like chatbots to interact with visitors, payment processing, and forms to collect information. These integrations make the site more useful without having to build it from scratch,” says Patel. Many website platforms also offer free trials, allowing you to test their tool before making the leap. And if you need more time trying the platform out, some may even allow you to extend it. “Consider reaching out to them directly to get an extension on your trial. You might be surprised what kind of help they provide if you tell them you need more time to learn the tool and want to make sure it’s a right fit for you and your business,” explains Patel. While website platforms make it easy to build a website, thinking about the possibilities of what your website could look like can be a stressor. But Patel, who uses data and feedback to enhance the user experience and value of Hello Alice for business owners, says that brainstorming can be helpful in the website-building process. “Before building a website, it would be good to write out what pages you want on your website, what content and media will be on those pages and how you would like to lay it all out. Look at websites of similar businesses for inspiration. Once you’ve outlined the pages on your site, you can work on building the more important pages first,” Patel says. Creating a website can be a daunting task. Time and energy may be heavily spent on setting up a website domain. Errors may be encountered when adding webpages to your site. But that shouldn’t stop you from building one. “Founders probably already know this from running a business that doing something new or different can be scary, but it’s a learning experience," says Patel. "My advice to founders with no product development experience is to do things in small chunks and don’t be afraid to mess up." For more small business tips and inspiration create a free account on Hello Alice or subscribe to our weekly newsletter.

More than anything else, small business owners need funding to keep their doors open. There are a variety of ways to fund a business, including personal savings, loans, credit cards, and grants.  Between the government, corporations, and other sources, there are billions of grant dollars up for grabs in a single year. Small business owners should regularly explore grants as a way to hire seasonal help, purchase equipment, or launch new products. Here’s everything you need to know about how to find and apply for small business grants.  What Are Small Business Grants? Small business grants are money given to a small business by a government, corporate, or nonprofit organization. Grants do not require repayment, and they are often used to support a particular project, objective, or mission. What’s the Difference Between a Small Business Grant and a Loan? When you take out a small business loan, the expectation is that you will pay it back, typically plus interest. Lenders will often require you to provide collateral in the event you can’t repay the loan amount. Grants, on the other hand, have no expectation of repayment and function as a one-time gift. For this reason, some call grants “free money.”  Small Business Grants Benefits First off, small business grants are a great, no-strings-attached way to fund growth and scale your impact. As a one-time, no-cost payment, grant money help entrepreneurs invest in a new piece of equipment or purchase additional inventory for the holiday rush. After all, the number one small business need is funding, and grants can provide the money needed to build capacity to support future success. Additionally, organizations and government agencies provide grants because of their positive impact on the larger community. Many grant programs specifically fund businesses with a positive social mission or that offer necessary goods and services. Grant funding is a great way to incentivize local small businesses to serve the public good. Successful small businesses also create well-paying jobs that enrich the local economy. Types of Small Business Grants Generally speaking, there are a few types of grants you’ll find: Government Grants There are thousands of local, state, and federal grants available to small businesses to fund their ideas and projects to provide public services and stimulate the economy. Grants are typically offered by specific agencies for specific purposes. For example, a small farm would probably benefit from a Department of Agriculture grant; technology businesses researching an innovative product might be a good match for a Small Business Innovation Research (SBIR) grant administered by the Small Business Administration. Depending on who you are, where you’re located, and what industry you work in, there is likely a government grant program tailored to support your needs. Nonprofit Grants Lots of nonprofits offer grants to small businesses doing work that aligns with their mission. If you are an owner from an underrepresented background or have a business with a social mission, these nonprofits will be eager to review your application. Private Grants Although less common, private businesses administer grant programs to benefit specific communities and social missions. A popular private grant is the WomensNet Amber Grant, which awards $10,000 to a woman-owned business each month. Hello Alice Grants Working with our partners, we directly administer grant programs that connect entrepreneurs with funds, mentorship opportunities, and other resources to help their small businesses launch and grow. Every applicant also gets free access to our suite of how-to guides, personalized resources, and a community of more than half a million small business owners. Where to Find Grants There are thousands of grant opportunities; look for grants specifically suited to your business. Here are some resources to help you find the needle in the haystack: Grants.gov This database is your go-to resource for grant money from the United States federal government. Grants.gov allows you to search thousands of grant offers from federal agencies such as the Department of Agriculture, National Science Foundation, and others with billions of dollars in grant funding opportunities available to entrepreneurs. Visit the Grants Learning Center for resources and information to help you apply for government grants. Small Business Development Centers (SBDC) The are 62 SBDCs spread across the United States that offer advice and guidance to local small businesses. SBDCs are a great way to find information about local, state, and federal grant programs. If you have questions or need advice about completing a grant application, SBDCs are a great resource.   Hello Alice Small Business Funding Center The Small Business Funding Center compiles all the best grants from around the web — including government and private grants — and organizes them in one place. A free Hello Alice account grants anyone access. Hello Alice Newsletter Finally, subscribe to our weekly newsletter to be among the first to hear about newly announced grant programs, as well as other small business resources. Are Grants Taxable Income? In general, yes, grants are considered taxable income. Typically, you include a small business grant, whether from a private or government source, as part of your annual gross business income and taxed accordingly. Finally, if you receive a small business grant, it’s always a good idea to double-check with the grantor and consult a tax professional for definitive advice. How to Qualify for Small Business Grants The qualifications for a grant vary depending on the program.  Most often, grants target a particular industry or demographic. For example, many government grants specify that applicants work in a particular industry relevant to the granting agency’s mission. Other programs might seek to benefit New Majority groups that have historically lacked access to traditional funding opportunities, such as women, people of color, veterans, people with disabilities, and the LGBTQ+ community. Always read a grant’s eligibility requirements to determine if you qualify for the program. Additionally, many grants limit their eligibility to small businesses. What counts as a small business? Government programs typically adhere to the SBA’s “size standards,” which define a maximum revenue or employee count for different industries. Private/nonprofit grants will sometimes establish similar definitions for a small business to ensure funds go to small businesses that will benefit most. Can I Get a Grant for a New Business? Again, it depends, but grant programs usually judge applicants based on their proposed use of funds. Established businesses that are able to lay out a clear plan for how the grant will be put to use have an upper hand on new businesses that are just starting out.  How to Apply for Grants Your grant application tells the story of your business and explains how you’ll put the funds to use.  Every program is different, but the answers in a successful application will align with the goals of the overall program. For example, if the program helps restaurants expand outdoor dining, address your plans for that in your application. Grant applications typically include the following details: Mission statement Company background Leadership team Projected budget/use of funds Short-term and long-term business plan or goals A successful grant application uses these details to make a compelling case for how your small business uses the funds. Additionally, because many grants exist to make a positive impact on local small businesses and reward innovation, try to set yourself apart from the crowd by providing a specific vision for what the grant makes possible. Finally, a good application presents a plan for the funds, a team to execute it, and a way to measure success. Looking for more tips? Review Hello Alice’s step-by-step Write a Winning Grant Application guide for an in-depth explanation of what grant reviewers are looking for. For more small business tips and inspiration create a free account on Hello Alice or subscribe to our weekly newsletter.

One of the biggest challenges entrepreneurs face is how to best fund their small businesses. Choosing the right capital for your situation can have important consequences for how a business grows and operates for years to come. There are essentially two types of capital – debt and equity. Each type contains a range of more specific, nuanced options to help grow your business. Oftentimes, a business will require a mix of both types. In this blog post, we'll break down some of the considerations every small business owner should make as they navigate different forms of capital. Rule #1: Start with What You Have Most experts recommend that small business owners dig into their own pockets before seeking any sort of outside funding. Using your checking account, selling stock or bonds, or putting up collateral assets such as your home allows you an interest- and equity-free source of capital. You may have heard this approach referred to as bootstrapping. Bootstrapping a business is a great way to validate your idea and business model without investing significant resources. This approach helps you test your minimum viable product, gather initial customer feedback, and ration your valuable resources for a time in the future. It also proves to potential investors that you have "skin in the game" and are serious about the business idea. That said, there will inevitably come a time when your business will require outside funds to fuel growth. That's when it's time to think about debt and equity! Debt Capital 101 You take on debt every time you enter into a loan agreement. The wonderful thing about debt capital is that you don't surrender an ownership stake in your company. However, you might have to provide collateral, and you'll have to pay back the balance. Interest payments can significantly add to the cost of this type of capital. Many business owners take out small business loans to fund their business. Securing a loan from a bank, credit union, or through the Small Business Administration (SBA) can finance new equipment, fund operations, or help you expand to a new location. Keep in mind that your access to this type of capital can be limited by your personal credit score, the health of your business, access to collateral, and other factors. Traditional lenders can also be conservative with their decisions. If you need a significant infusion of capital to fund your business, it might be time to look to equity capital. Types of Equity Capital Pursuing equity capital has unique pros and cons. On the one hand, it's one of the fastest ways to receive a large infusion of capital from an investor or group of investors. These investors could become valuable business partners and mentors. On the other hand, pursuing equity means surrendering ownership and decision-making power. One source of equity capital is the friends and family round. In this arrangement, you provide a stake in your business to someone in return for an investment. This is typically done in the early stages of a business. You can also take the Shark Tank route. Angel investors and venture capitalists who are willing to take a chance on your business can be an invaluable source of knowledge and mentorship. If you are able to sell your business with a great pitch, these investors could reward you with a significant amount of capital in exchange for a piece of the company. Crowdfunding is also an increasingly popular source of capital. Through a platform such as WeFunder, you can solicit many smaller investments in exchange for equity, rewards, or even debt. Hello Alice has a step-by-step guide to help you understand the different types of crowdfunding and how to get started on popular platforms. In select cases, you could even pursue an initial public offering (IPO) that lists your business on a stock exchange so the public can purchase shares (and therefore equity). This type of capital is reserved for more mature small businesses. Other Ways to Fund Growth An oft-overlooked source of funding is small business grant programs. These debt-free cash injections don't surrender equity and don't need to be paid back. You can find tons of local, state, federal, and private business grants ready to fund your business. Writing a winning grant application takes time and effort, but you could be rewarded with what's essentially free money. Similarly, pitch competitions are an opportunity to win a one-time cash prize. They also serve as invaluable networking opportunities that will expose you to potential mentors, investors, and media opportunities that could pay off for years to come. Consider mastering your elevator pitch and looking for upcoming competitions at conferences, universities, or your local business support organizations. Finally, businesses at all stages should pursue strategic partnerships. By working with another organization that shares a common mission or vision, you have the potential to hack your company’s growth in ways you never imagined possible. Making the most of strategic partnerships provides a low- or no-cost way of expanding your company's reach, providing new opportunities, and enhancing your brand's reputation. View our step-by-step Choose the Right Capital guide for a complete overview of how to fund your small business.

In this blog series, we’ll hear Team Alice members share their areas of expertise that can help you with your business. “We all love the products we love because of good design,” says Kate Muelle, Hello Alice's director of product design. From brand logos to the fonts on your website, design is an integral part of your business, its public face. While design may be used as a tool to enhance the aesthetics of a brand, it also serves as a way to communicate information to customers. “We learn new things, navigate around cities, and connect with other people through design,” Muelle explains. “Clearly communicating information and ideas is a critical piece of business and life.” When she’s not running Burning Man camps or playing ice hockey, Muelle is leading UX/UI and brand design on the Hello Alice platform. She studied graphic design in college and has worked 10 years in the industry. But Muelle shares that design is a process that takes time to develop — even for designers. “Learning more about design is a lot like learning about anything else, it just takes practice and time,” says Muelle. “Even with young professionals who come out of design school, it takes a while for your taste to catch up with your abilities, so have patience with yourself. How can founders get started with design? Muelle says there are resources online like graphic design tools and templates that anyone can use. “Check out the Noun Project if you need icons [or] play around with Canva to create some marketing materials. You don’t need to be making things from scratch. It’s also fun to float around on Dribbble to see what people are making, hone your interests and taste a bit.” And you don’t need to be a formally-trained designer to use principles of design in your business. The rule of consistency is one that all founders can use, especially when it comes to your branding. “As a new founder, I’d spend less time hemming and hawing over which font to use and more time making sure that whatever you pick is being used everywhere," says Muelle. "Even big brands have gotten away with terrible logos for ages, but to look like a polished, respected business, you have to be consistent in your branding.” The concept of “white space” is another essential rule in design. White space is the blank space surrounding anything that’s being designed like a postcard or an app. “Know that it’s okay, even beneficial, to have some blank spaces in the things you create,” says Muelle. “Give your logo room to breathe instead of having other elements right up next to it. It’ll make it more powerful and impactful.” And another design tip that all business owners should know? “Simple is always better. Always.” For more small business tips and inspiration create a free account on Hello Alice or subscribe to our weekly newsletter.