When you look at the computers, keyboards, and other technologies you use every day, it’s worth remembering that every company began somewhere. Some of the biggest names in business started in a garage or basement, built from nothing more than an idea, determination, and a desire to create something meaningful.
The dream of owning a business is exciting, but it comes with important steps and financial considerations. Starting a company often requires significant investment, depending on your market, whether you plan to sell domestically or internationally, and the type of products or services you offer. While it may sound expensive, financial challenges shouldn’t hold you back. With thoughtful planning, persistence, and a bit of luck, you can build a successful business in any market you pursue.
What are small business grants?
So, what exactly is a small business grant? A grant provides funding to help you start or grow your business without paying out of pocket. It can cover expenses such as operations, renovations, or other business needs. The best part is that grants don’t need to be repaid, unlike loans that come with interest payments and down payments.
Each grant has its own terms and eligibility requirements. In North Carolina, for example, some grants are limited to businesses with fewer than 500 employees. Grants only need to be repaid if the funds are used improperly or for purposes outside the approved agreement.
North Carolina state-specific grants for 2026
Grants available to businesses in North Carolina offer valuable support for growth and development. Some focus on helping new businesses get started, while others assist established companies in improving their operations and workforce. Key programs include:
- On-The-Job Training (OJT) Program: Reimburses employers for 50-75% of wages while training new employees, with up to $15,000 per year available per business.
- Incumbent Worker Training (IWT) Grant Program: Helps offset training costs for employees with six+ months of tenure, requiring a 10-50% employer match depending on company size.
- Appalachian Regional Commission: Funds economic development projects in North Carolina’s 29 westernmost counties, generally administered through local and regional partners rather than direct business applications.
Like the IWT Grant, the OJT Program helps offset training expenses by reimbursing employers for 50% to 75% of wages during employee training. The Appalachian Regional Commission, meanwhile, supports businesses in or near the Appalachian region, fostering local job creation and economic development.
Job Development Investment Grant
The Job Development Investment Grant is North Carolina’s flagship economic development incentive, but it’s important to understand its scope before pursuing it. JDIG provides cash grants directly to companies in exchange for significant job creation and capital investment in the state, it’s primarily used for large-scale business recruitment and expansion projects, not typical small business funding. In 2025, the state awarded 24 grants, generally to companies creating dozens to hundreds of jobs with substantial capital investment.
Awards are calculated based on a percentage of personal income tax withholdings from new jobs, weighing factors like the project’s location, county economic tier, number of jobs created, and wages relative to county averages. Payments are made annually over terms of up to 12 years following rigorous performance reviews.
Application process: best practices and tips
JDIG is most relevant for businesses planning a major expansion or relocation involving significant job creation. If your business doesn’t fit that scale, the One North Carolina Small Business Program is a better fit. Applications involve a non-refundable fee, and companies typically work with the Economic Development Partnership of North Carolina (EDPNC) before applying directly to the NC Department of Commerce.
Farmland Preservation
The North Carolina Agricultural Development and Farmland Preservation Trust Fund supports the state’s agricultural community by funding farmland conservation easements, agricultural development projects, and disaster relief for farms affected by severe weather events.
It’s worth noting that this program is generally not a direct cash grant to individual farm businesses. Funding is typically awarded to qualifying nonprofit organizations, land trusts, and county or regional agricultural programs that work directly with farmers on conservation and development projects.
Application process: best practices and tips
Visit the NC Department of Agriculture and Consumer Services website at ncadfp.org for current funding rounds, eligibility requirements, and a list of partner organizations working in your county.
Business Investment Grant
The Business Investment Grant is a performance-based incentive offered by the City of Raleigh to attract and retain businesses that create jobs and capital investment within city limits. Grant amounts are calculated based on the projected economic impact of the business, including job creation and property tax revenue generated.
Application process: best practices and tips
This grant is exclusively for businesses locating or expanding within Raleigh city limits. Contact the City of Raleigh’s Office of Economic Development for current program guidelines and to start the application process.
Industry-specific and niche grants
Industry-specific grants are designed to support businesses within particular sectors, helping them grow and innovate. For example, technology-focused companies in fields like cybersecurity or information technology can apply for grants that fund research, development, or expansion efforts. Likewise, export-related grants are available to help North Carolina businesses enter and compete in international markets through training, marketing support, and global trade assistance.
North Carolina Biotechnology Center
North Carolina Biotechnology Center offers the Translational Research Grant (TRG), which supports commercial enterprises in the life sciences sector. The Translational Research Grant funds research projects that explore commercial applications of university-held life sciences inventions, but applicants must be researchers employed by a North Carolina-based university or nonprofit research institute, not individual commercial businesses. The maximum award is $144,000 with a project manager supplement, or $130,000 without.
If your business is a life sciences company looking to access this funding, the path forward is typically through a formal research partnership or licensing relationship with a North Carolina university or research institution working on relevant technology.
Application process: best practices and tips
Deadlines run on a quarterly cycle, FY27 deadlines include August 5, 2026 and January 27, 2027. The Principal Investigator must register for an account on the NCBiotech Funding Portal before the deadline.
One North Carolina Small Business Program
The One North Carolina Small Business Program is one of the state’s most accessible grant programs for early-stage technology companies and is administered by the NC Department of Commerce’s Office of Science, Technology & Innovation.
It’s important to clarify the eligibility for this program, as it differs from how it’s sometimes described. The Translational Research Grant funds research projects that explore commercial applications of university-held life sciences inventions — but applicants must be researchers employed by a North Carolina-based university or nonprofit research institute, not individual commercial businesses. The maximum award is $144,000 with a project manager supplement, or $130,000 without.
If your business is a life sciences company looking to access this funding, the path forward is typically through a formal research partnership or licensing relationship with a North Carolina university or research institution working on relevant technology.
Application process: best practices and tips
Deadlines run on a quarterly cycle — FY27 deadlines include August 5, 2026 and January 27, 2027. The Principal Investigator must register for an account on the NCBiotech Funding Portal before the deadline.
Federal grants available to North Carolina businesses
Federal grants are funding opportunities provided by government agencies to support business growth and innovation. These programs are designed to help small businesses expand, conduct research, and enter new markets. Federal grants often come with clear eligibility criteria and application guidelines, but they do not require repayment, making them an attractive alternative to loans or private funding.
Small Business Innovation Research Grant
The Small Business Innovation Research (SBIR) program supports small businesses engaged in research and development (R&D) with the potential for commercialization. It creates partnerships between the public and private sectors, encouraging innovation and technological advancement. The program operates across several federal agencies, including the Department of Agriculture (USDA), Department of Defense (DoD), and Department of Energy (DOE), among others.
Application process: best practices and tips
To qualify for an SBIR grant, your business must be a U.S.-based, for-profit company with fewer than 500 employees. Applicants should carefully review the specific requirements of each participating federal agency before applying.
Small Business Technology Transfer
The Small Business Technology Transfer (STTR) program is similar to the SBIR program but places a stronger emphasis on collaboration between small businesses and research institutions. Its main goal is to encourage small companies to participate in federal Research and Development (R&D) projects that have strong potential for commercialization. Through this program, innovative technologies can move from the lab to the marketplace with the support of both government and private expertise.
Application process: best practices and tips
To qualify for an STTR grant, your business must be a U.S.-based, for-profit company with fewer than 500 employees and must formally partner with a nonprofit research institution. At least 40% of the work must be completed by the business and 30% by the partnering research institution.
Note: The SBIR and STTR programs lapsed on September 30, 2025, after Congress missed the reauthorization deadline. Both programs were reauthorized in March 2026 and are now active through September 30, 2031.
Small Business Association
The Small Business Association (SBA) is dedicated to helping small businesses start, grow, and succeed through access to resources, funding programs, and expert guidance. Its website offers a wide range of tools, including training programs, funding assistance, and business planning resources. While the SBA does not typically provide grants for starting or expanding a business, it does offer specific grant opportunities for veterans, service-disabled veterans, and Small Business Development Centers (SBDCs), often in partnership with universities and nonprofit organizations.
Application process: best practices and tips
- You must be a veteran or service-disabled veteran operating a small business.
- You must represent a Small Business Development Center (SBDC) or are affiliated with a college or university that partners with the SBA.
State Trade Expansion Program
The State Trade Expansion Program (STEP) helps small businesses expand into international markets by providing financial assistance for export-related activities. The program supports a wide range of expenses, including trade show participation, international marketing, translation services, and export training. STEP grants are designed to make global trade more accessible for small businesses looking to reach new customers abroad.
Application process: best practices and tips
Each state manages its own STEP program with unique eligibility requirements and funding amounts. To find out how much funding is available and how to apply in North Carolina, visit your state’s STEP program page on SBA.gov for detailed instructions and application deadlines.
Corporate and private foundation grants for 2025
Large corporations may seem far removed from small businesses, but every major company began with an idea, ambition, and a modest start. Today, many corporations support small businesses through competitions and grant programs that provide financial assistance to help them grow. These grants are often awarded to individuals, companies, or organizations with a clear mission or project that aligns with the corporation’s values.
Private foundations operate similarly but typically focus on charitable or community-driven initiatives. Businesses that engage in socially responsible efforts, such as sustainability projects, community outreach, or charitable campaigns, often have access to funding from these foundations.
Notable organizations that offer corporate or private foundation grants include:
- Visa (CLOSED)
- FedEx
- Citi Foundation
- The Goldman Sachs Foundation
Many large companies understand that supporting small businesses benefits everyone. Partnering with local enterprises is often more cost-effective than outsourcing to larger industries, while also strengthening communities. With the steady rise in demand for innovative goods and services in 2026 and beyond, these grant programs continue to play a vital role in helping small businesses thrive and contribute to a stronger, more diverse economy.
Conclusion
Grants play a vital role in strengthening small businesses and, in turn, the economy as a whole. They provide financial stability, encourage innovation, and help entrepreneurs bring unique, locally inspired products and services to market. From family-run farms to emerging tech startups, these grants empower North Carolina business owners to grow, create jobs, and contribute to their communities.
Many of today’s most impactful technologies and industries were built on the foundation of small business success. By continuing to support local entrepreneurs through accessible grant programs, North Carolina ensures that creativity, hard work, and community spirit remain at the heart of its economic growth.