2021 Small Business Grants in Review

Undoubtedly, small business grants are one of the cornerstones of Hello Alice. We know that when it comes to small businesses, access to capital is vital for growth, expansion—and also survival. With that said, let’s take a closer look at all of the 2021 small business grants we awarded this year.

Together with our generous partners, we were able to support more small businesses than ever before. These grants helped small businesses to pivot or push forward in a particularly challenging year.

Hello Alice 2021 Small Business Grants Stats

To start, a total of 2,129 businesses and business support organizations were awarded Hello Alice grants this year.

Altogether, our grants totaled up to $16,215,000 worth of funding in 2021. In addition, some recipients received mentorship connections offering invaluable insight and guidance.

Throughout the year, several types of grants were awarded to applicants who met the determined criteria. Significantly, more than 92% of the applicants indicated that they needed these grants to survive.

To demonstrate just a few ways our recipients were able to use these grants, they reported being able to:

pay for wages, suppliers, or commercial space
innovate or produce new products
revamp their business model during the shutdown

Without a doubt, the impact of these grants is particularly meaningful amidst COVID-19 shutdowns. These timely set-backs crippled industries, froze supply chains, and caused staffing shortages. Worse yet, Black-owned businesses were hit the hardest by the COVID-19 shutdowns, declining by 41% since the lockdown.

2021 Small Business Grant Recipient Demographics

Overall, nearly 30% of our 2021 grant recipients identified as Black or African American (27.2%). Following that, the other grantees were white (34.2%), Asian (18%), Hispanic or Latin/a/x (7.6%), multiracial (6.7%), Middle Eastern (2.8%) or other (0.7%).

This year, 52.7% of our grant recipients identify as female and 44.7% as male, with fifteen who were non-binary/non-conforming recipients and others who declined to identify. Grants were also awarded to veteran- and military family-operated businesses, as well as to LGBTQ+ and disabled small business owners.

Further, as 2022 approaches, new funding opportunities for businesses of all sizes will become available that can support scaling your business, finding a mentor, and expanding your impact.