The Virginia Beach Development Authority (VBDA) has officially launched the Virginia Beach Small Business Grant Program, designed to deliver crucial financial assistance to eligible small businesses within the city. Qualifying businesses can secure grants of up to $10,000, specifically targeting small, women-owned, minority-owned, veteran-owned, and disabled veteran-owned enterprises.
Administered by the Virginia Beach Department of Economic Development, this grant initiative aims to support small businesses in various growth-related endeavors. The funding can be applied toward purchasing inventory, marketing strategies, establishing an online or mobile presence, acquiring essential equipment or supplies, business expansion, or real estate investment. Grants will be allocated on a first-come, first-served basis, contingent upon funding availability, compliance with program guidelines, and submission of a complete application.
“The Virginia Beach Development Authority acknowledges the necessity of improving access to funding for qualified small businesses,” stated Deputy City Manager Amanda Jarratt. “Our commitment remains steadfast in supporting historically underserved and marginalized small businesses, fostering an inclusive economy in Virginia Beach.”
Alongside financial support, the program will also provide grant recipients with access to vital technical expertise and mentorship in areas such as legal services, financial analysis, and digital marketing strategies.
To apply for the grant, interested businesses must participate in a pre-application workshop facilitated by the Virginia Beach HIVE Business Resource Center. These workshops will be available in both in-person and virtual formats. Pre-registration is mandatory, and only attendees of the workshop will receive access to the 2024 Small Business Grant application, set to launch on September 30, 2024.
