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Small business owners need capital to survive and grow, but many face considerable barriers to accessing it. At Hello Alice, we recognize the need for equitable access across the capital continuum. We continue to prioritize connecting small business owners to the money needed to fund and grow your business. To that end, we surveyed owners to examine capital access for small businesses in 2022. In the spirit of equitable access, our latest survey report dives into the challenges, limitations, and opportunities of capital access for all owners, and especially women- and minority-owned businesses who comprise the majority of the Hello Alice community. Here are some key takeaways on capital access for small businesses in 2022 from this report: 1. Small business owners remain optimistic about growth in 2022, but lack of capital limits growth. Take, for examples, that 89% of small business owners claim access to capital is limiting their business growth potential. 2. Small business owners are relying on their personal savings. As many as 37% of small business owners report using their personal savings to fund their business. This shows they're deeply invested in the success of their business, but may have a limited runway without access to credit or flexibility. 3. Building business credit remains a challenge. Though 50% of owners have a personal credit score of 680 or better — strong enough to apply for most business credit cards — that score would still lock them out of a business loan (which typically require a score of 720 or better to qualify for). 4. Demand for business credit is strong, but barriers are amplified for minority-owned businesses. Notably, 49% of Black business owners who applied for financing in the last 12 months reported that none of their application was approved, compared to just 28% of white owners. A majority of owners (73%) say they’re interested in support to help them prepare to apply and successfully use business financing. 5. Demand for business credit is strong. As evidenced by 62% of small business owners planning to apply for financing in 2022. Of those, 84% want to expand their business, pursue new opportunities, or acquire business assets with this financing. More Resources  Interested in learning more about capital access for small businesses in 2022? Download the full report on capital access for small businesses 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]

To kick off the Year of Small Business, Hello Alice conducted a comprehensive survey to gauge owner outlook heading into 2022. Hello Alice proudly serves more than half a million small business owners nationwide. This survey captures their response to challenges such as inflation, supply chain disruptions, COVID-19, and hiring. Our insights capture the most pressing needs and challenges facing small business owners and reveal striking differences across industries and owner demographics. Here are some key takeaways from this report: Small business owners are overwhelmingly optimistic. Despite numerous challenges, 79% of owners expect their business to grow this year.  Inflation is the top-ranked challenge. Owners report they’re increasing prices, decreasing staff, and even taking out loans to stay afloat.Supply chain issues persist. 70% of owners believe supply chain challenges will continue to affect their business in some capacity. Responses varied by industry, with food and beverage owners disproportionately telling us the supply chain will have a “massive impact” on their business.Owners need capital to overcome unforeseen challenges. Access to capital remains a persistent obstacle, with 37% of owners reporting they were turned down for a business loan from traditional banks. Nearly half of owners said they need additional capital to cover essential operating expenses and cost of goods. Download the full Hello Alice report If your company or organization is interested in supporting this important work or gaining insights about your community of business owners, please reach out to [email protected] For media inquiries or interview requests, please contact [email protected]

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 spaceinnovate or produce new productsrevamp 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.  Full List of 2021 Grant Programs To learn more about each unique grant opportunity and their recipients, check out the full list and links below: Alibaba.com Grants Program AWS Round 1 AWS Round 2 BGE Energizing Small Business Grants Round 1 BGE Energizing Small Business Grants Round 2 BGE Energizing Small Business Grants Round 3 Diagio SIA eBay Up & Running Grants Round 1 eBay Up & Running Grants Round 2 DoorDash Local Restaurant Grants Round 1 DoorDash Local Restaurant Grants Round 2 KKR Small Business Builders Grant Round 1 KKR Small Business Builders Grant Round 2 KKR Small Business Builders Grant Round 3 KKR Small Business Builders Grant Round 4 KKR Small Business Builders Grant Round 5 KKR Small Business Builders Grant Round 6 PepsiCo-Stacy's Rise Project 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. 

In observance of Hispanic Heritage Month, Hello Alice's latest small business temp check helps define the Hispanic small business community and their business sentiment as of Q3 2021. As of October, Hello Alice supports a diverse base of nearly half a million business owners. Hispanic owners make up almost 12% of all owners on our platform, directly mirroring the proportion of Hispanic owners nationwide. We regularly collect data on these entrepreneurs to determine who they are and what they need to launch, fund, grow, and manage their small businesses. Here are some key takeaways from this temperature check: Marketing and brand awareness are primary focuses. In fact, 12% of Hispanic owners cited marketing as the biggest challenge in Q3 2021 — an 80% QoQ increase that stands apart from other demographics.Hispanic-owned businesses are growing and hiring. 61% of Hispanic-owned businesses are in the scale stage in 2021, a 17% increase YoY. We see this reflected in hiring as 89% of Hispanic owners plan to add employees in 2021 compared to only 49% in 2020.Still, Hispanic owners are less optimistic than their peers. 22% of Hispanic owners predicted business in 2021 would be the same or worse as 2020. Only 17% of owners from other demographics answered the same.Business outlook varies by industry. When you break down business sentiment by industry among all owner demographics, "construction," "transportation logistics," and "other services" have some of the least optimistic outlooks for 2021. These three industries also have a higher-than-average concentration of Hispanic owners, perhaps explaining the negative outlook. Download the full Hello Alice Temp Check If your company or organization is interested in supporting this important work or gaining insights about your community of business owners, please reach out to [email protected] For media inquiries or interview requests, please contact [email protected]

Titled “The Impact of Small Business Grant Funding,” Hello Alice's latest research dives into more than a year of application data to measure the effect of grant funding on small business health. As of June 2021, Hello Alice had received 188,351 applications for funding and distributed $18.5 million to thousands of small business owners. Our grant applicants have, overwhelmingly, been representative of the New Majority of small business owners — with nearly two-thirds identifying as female or gender nonconforming and just over half identifying as a person of color. These applications are blinded of all demographic and social characteristics to avoid bias in the review stage. As a result, Hello Alice grant recipients directly mirror the diverse applicant pool. Through a combination of survey data and narrative responses, these applications offer a detailed profile of who small business owners are and what they need. Key takeaways from this report include: 96% of recipients report grants as “very or extremely helpful.” We found no significant difference in this response between demographic groups. This means that business owners of all identities and experiences find grants helpful in supporting their business.Business continues to go digital. New Majority small business owners report they expect to conduct over half their business online, and interest in topics such as online marketing, connectivity, online payments, and logistics has increased significantly over the past year.Owners need ongoing support. While not every business owner will receive a grant, everyone who applies receives immediate access to free Hello Alice resources. These 188K applicants went on to view millions of pages on Hello Alice, engage with thousands of interactive business guides, and find mentorship in 22 virtual communities.Technology enables responsive and impactful grant programs. We have been able to partner with companies like DoorDash, eBay, and PepsiCo to help them devise, market, and administer grant programs with minimal lead time. Download the full Hello Alice Impact Report If your company or organization is interested in supporting this important work or gaining insights about your community of business owners, please reach out to [email protected] For media inquiries or interview requests, please contact [email protected]

As the largest community of underrepresented entrepreneurs in the United States, Hello Alice regularly collects data on who small business owners are and what they need to succeed. Titled “A Study of 400,000 Small Business Owners in America: A Closer Look at the Engine Powering the U.S. Economy,” our latest research provides a comprehensive description of the nearly half a million owners on our platform as we enter a new phase of pandemic recovery. Our owners strongly reflect New Majority demographics. Nearly two-thirds identify as female (63%) and/or BIPOC (68%). There is also significant representation among people with disabilities (9%), the military connected (17%), and the LGBTQ+ community (8%). Key takeaways from this report include: Entrepreneurs create jobs. Nearly three-quarters of small businesses have at least two employees. Crucially, these diverse business owners hire diverse employees; almost three-quarters of owners say their teams are primarily composed (>50%) of staff members who identify under New Majority demographics.Owners are facing new challenges. Growing a business, marketing, and hiring a team have emerged as common difficulties for business owners in 2021. At the same time, owners consistently rank access to funding as their number one challenge for small business owners across demographics, with higher rates among Black and multiracial owners.Owners are shifting their focus. As small businesses recover from the initial shock of the pandemic, they are focusing on building a brand, acquiring customers, raising capital, and managing finances. However, business priorities vary across demographics. For example, Black owners over-index in the need to raise capital, while Asian owners over-index on managing finances.In general, owners are optimistic. The vast majority of owners predict 2021 will be better for business than 2020, although owner optimism peaked in Q4 2020. We observed a decline in sentiment through Q3 2021 as the resurgent pandemic brought uncertainty.Business outlook varies across demographics. For example, Black and multiracial owners are the most hopeful that 2021 will be better for business than 2020. By location, the most optimistic owners live in Florida, Georgia, and Texas — states with the fewest pandemic restrictions and earliest reopening dates. Download the full Hello Alice Impact Report If your company or organization is interested in supporting this important work or gaining insights about your community of business owners, please reach out to [email protected] For media inquiries or interview requests, please contact [email protected]

For the second year, Hello Alice set out to learn more about the LGBTQ+ small business owners on our platform. Our latest stats on LGBTQ+ owned small businesses helps us understand how these owners are navigating longstanding structural barriers to growth. The full report, titled “The State of the LGBTQ+ Economy,” is published in partnership with the Global Entrepreneurship Network, StartOut, and the National LGBT Chamber of Commerce (NGLCC) to coincide with LGBTQ+ Pride Month. About Hello Alice Impact Reports Hello Alice releases regular impact reports based on anonymous owner data and survey responses from our growing body of grant applications. For the first time, we also conducted an impact survey that directly polled our LGBTQ+ community members. Together, this report sheds light on who the more than 14,500 LGBTQ+ owners on Hello Alice are and what challenges they face going forward.  Key Stats on LGBTQ+ Owned Small Businesses Key data points from the most recent report include: The majority of LGBTQ+ owners on Hello Alice are women (62%) and people of color (77%). The top three industries for LGBTQ+ entrepreneurs on Hello Alice are Arts/Entertainment/Recreation (13%), Consumer Goods/Retail/E-Commerce (13%), and Healthcare/Wellness (12%). 72% of these owners report either customer referrals or social media as their top acquisition channels. 61% of LGBTQ-owned small businesses generate annual revenue of less than $100,000. Personal Stories of LGBTQ+ Owned Small Businesses On the cover of this month’s report is Donnya “Zi” Piggott, the co-founder and CEO of Pink Coconuts. Designed to create meaningful relationships for LGBTQ+ people through travel, Pink Coconuts has a mission to help people forge real bonds and real friendships. The tech startup was a product of the pandemic’s isolation and has faced growing pains as a remote business forged in an era of social distancing. “Building a team remotely can be challenging, just like the issue my business solves,” Piggott told Hello Alice. “There is something about physical connection that can’t quite be replaced. Building a strong, cohesive team and running the day-to-day operations can be tough.” More Resources You can hear from more owners like Piggott and review the full report at the link below:  Download the full Hello Alice Impact Report For more small business tips and inspiration create a free account on Hello Alice or subscribe to our weekly newsletter. If your company or organization is interested in supporting this important work or gaining insights about your community of business owners, please reach out to [email protected] For media inquiries or interview requests, please contact [email protected]

Happy LGBTQ+ Pride Month! Each June, we are proud to celebrate one of the most diverse and exciting demographics of small business owners on Hello Alice. There are more than 14,500 LGBTQ+ owners in our community running custom furniture companies, evolving 50-year-old art stores, and selling every kind of product from Birkenstocks to cocktail mixers. But as we work to grow the ranks of LGBTQ+ small business owners everywhere, we asked our owners to answer some questions on who they are and what they need. Based on anonymous profile data and thousands of survey responses, here’s what you told us: The majority of LGBTQ+ owners on Hello Alice are women (62%) and people of color (77%). The top three industries for LGBTQ+ entrepreneurs on Hello Alice are Arts/Entertainment/Recreation (13%), Consumer Goods/Retail/E-Commerce (13%), and Healthcare/Wellness (12%). 72% of these owners report either customer referrals or social media as their top acquisition channels. 61% of LGBTQ-owned small businesses generate annual revenue of less than $100,000. If you’re curious about our complete findings, you can review the full 2021 Hello Alice LGBTQ+ Impact Report. Created in partnership with the Global Entrepreneurship Network, StartOut, and the National LGBT Chamber of Commerce (NGLCC), we will use this report to educate business leaders and help LGBTQ+ owners get the resources they need to sustain themselves and grow in the future. One of the most promising findings is an incredible emphasis on community among LGBTQ+ owners. Responding to our survey, these entrepreneurs told us that they are operating queer-friendly cafes, inclusive gyms, and travel companies tailored to LGBTQ+ millennials. If they’re not explicitly serving an LGBTQ+ audience, they are committed to making a positive impact through their businesses, including hiring New Majority staff and donating to nonprofits.  Although LGBTQ+ owners on Hello Alice primarily work in the sectors most affected by pandemic public health restrictions, this suggests that they will rebound as the country fully re-opens. The number one business challenge for these owners remains access to capital, which is why Hello Alice continues to collect and facilitate grant opportunities on our Small Business Funding Center.  Download the full Hello Alice Impact Report

This May, we’re celebrating Asian American and Pacific Islander (AAPI) Heritage Month by sharing amazing products from AAPI-owned small brands. But we also wanted to ask our more than 17,000 AAPI small business owners a few questions to learn more about who you are and what you need.AAPI Small Business Owner Demographics Based on anonymous profile data and thousands of survey responses, here’s what you told us: The majority of AAPI owners on Hello Alice are women (54%) and over 40 (62%).The top three industries for AAPI entrepreneurs on Hello Alice are Food and Beverage (22%), Healthcare and Wellness (13%), and Beauty and Self-Care (12%).48% of AAPI owners told us that customer referral was their top acquisition channel.55% of AAPI-owned small businesses record annual revenue greater than $100,000 You can view the complete findings of our analysis in the 2021 Hello Alice Asian American and Pacific Islander Impact Report. Created in partnership with the Global Entrepreneurship Network, SEARAC, Welcome to Chinatown, and ACE NextGen, the document will be used to educate business leaders and help AAPI owners get the resources they need to come back from the challenges of the last year stronger than ever.AAPI Small Business Owner Needs Front and center in the report is the troubling rise of anti-Asian hate incidents, with small businesses cited as the primary location of discrimination. AAPI owners also told us that operating their business was one of their greatest business challenges, eclipsed only by raising capital. In spite of these challenges, AAPI owners continue to show up for their employees and communities through a commitment to making a positive impact with their small businesses with fair wages, jobs for underserved communities, and donations to nonprofits.  AAPI owners should also bookmark our newly launched Funding Center, which collects grant opportunities from our partners and around the web. Download the full Hello Alice Impact Report For more small business tips and inspiration create a free account on Hello Alice or subscribe to our weekly newsletter.

The Asian American and Pacific Islander (AAPI) business community faces unique challenges as it grapples with both a spike in anti-Asian hate incidents and the economic fallout of COVID-19. How can we all protect AAPI owners and help them grow their businesses in the wake of the pandemic?  These questions are at the heart of a new impact report released by Hello Alice, ACE NextGen, Welcome to Chinatown, the Global Entrepreneurship Network, and Southeast Asia Resource Action Center (SEARAC) in honor of Asian American and Pacific Islander Heritage Month. Analyzing anonymous user data and survey responses from a growing body of grant applications, Hello Alice releases regular impact reports to better understand various communities of small business owners. This report captures a profile of the more than 17,000 AAPI owners on Hello Alice to shed light on who they are and the challenges they face.  Key data points include: The majority of AAPI owners on Hello Alice are women (54%) and over 40 (62%).The top three industries for AAPI entrepreneurs on Hello Alice are Food and Beverage (22%), Healthcare and Wellness (13%), and Beauty and Self-Care (12%).48% of AAPI owners told us that customer referral was their top acquisition channel.55% of AAPI-owned small businesses generate annual revenue of more than $100,000. We’ve also gathered stories from AAPI entrepreneurs who are frank about the challenges and rewards of running a small business. One of these owners is Christine Perla, who co-founded Makelab, a 3D printing lab located in Brooklyn. Makelab's mission is to help startups and small businesses prototype their products so they can design faster. But before Perla started the business a couple of years ago, she had barely touched a 3D printer at all. She threw herself into the mission once she realized how transformative it was to help fellow makers unlock their creativity, and today she is on the board of the global nonprofit Women in 3D Printing. In 2020, Makelab received a Hello Alice COVID-19 Business for All Emergency Grant, which Perla says helped her retain employees and continue to pursue her newfound passion.  “It's crazy to think about,” she says. “3D printing isn't something you go to school for — it's something you find yourself following and intentionally moving towards. I definitely felt that, and I never looked back!” Download the full Hello Alice Impact Report If your company or organization is interested in supporting this important work or gaining insights about your community of business owners, please reach out to [email protected] For media inquiries or interview requests, please contact [email protected] For more small business tips and inspiration create a free account on Hello Alice or subscribe to our weekly newsletter.