Women-owned Small Businesses in Connecticut

The Women's Business Development Council (WBDC) offers the Ignite Grant, a program designed to foster the growth and profitability of women-owned small businesses in Connecticut. This initiative directly aligns with the WBDC's mission to support women entrepreneurs by providing crucial financial resources. The grants, ranging from $2,500 to $10,000, are specifically for clearly defined projects that demonstrate a measurable impact on business expansion. The target beneficiaries of the Ignite Grant are women-owned businesses that are at least 51% woman-owned, headquartered in Connecticut, registered in the state, and owned by a Connecticut resident who is at least 18 years old. These businesses must have been operating for at least two years with a record of sales, possess annual sales/revenue between $25,000 and $2,000,000 in the last twelve months, and be in good standing with the CT Department of Revenue Services. They must also have an established business checking account and utilize a formal, digital bookkeeping/financial system. The program explicitly aims to support for-profit businesses. The WBDC prioritizes projects that will have a demonstrable impact on business growth and profitability, encouraging recipients to invest at least $2,500 into their business in the last 12 months, unless located in a distressed municipality. Certain businesses are ineligible, including childcare businesses (though other WBDC programs may apply to them), non-profit organizations, current WBDC vendors, and businesses that have previously received an Ignite, Equity Match, or WBDC Municipal Grant. Additionally, businesses in industries such as medical marijuana, liquor sales, adult entertainment, vape/tobacco, gambling, gun sales, and various financial services or "going-out-of-business" sales are excluded. The expected outcomes of the Ignite Grant are the measurable growth and increased profitability of recipient businesses. By providing capital for specific projects, the WBDC aims to empower women entrepreneurs to expand their operations, create jobs, and contribute to the economic vitality of Connecticut. The program's theory of change posits that by strategically investing in well-defined projects within eligible women-owned businesses, the WBDC can directly facilitate sustainable business development and economic empowerment for women in the state.