Smart Start Business Development Grant Program

The Smart Start Business Development Grant is administered by Portsmouth Economic Development (PED) in the City of Portsmouth, Virginia. The grant program aims to support the foundational growth of early-stage businesses and nonprofit organizations. Its primary goal is to enhance entrepreneurial opportunity, strengthen business resilience, and promote organizational capacity-building for new or recently formed enterprises operating within the City of Portsmouth. The program aligns with the city's broader economic development strategies by fostering an inclusive and supportive environment for business innovation and sustainability. The grant program provides a maximum financial award of $2,000 per eligible business or nonprofit organization. These funds are restricted for use within 90 days of award receipt and are limited to specific eligible expenses. Approved uses of the grant include professional and third-party services such as legal, financial, and marketing support; technology and digital infrastructure such as software and hardware; small-scale manufacturing equipment and tools; business furniture and fixtures; and certifications relevant to business operations. The grant may not be used for wages, rent, operating expenses, debt service, inventory, supplies, or decorative items. Eligible applicants are for-profit small businesses and nonprofit organizations operating within the City of Portsmouth that have been established for no more than three years. Businesses must have a valid Portsmouth business license, employ 10 or fewer full-time equivalent staff, and be current on local taxes and fees. Home-based businesses must provide proof of residency, while those using co-working spaces must furnish a 12-month lease agreement. Certain organizations, including governmental entities, religious organizations, and businesses operating in residential-use properties, are ineligible to apply. The application process involves four sequential steps. First, applicants must complete the Santa Clara University's Quick Start Entrepreneur course or submit documentation showing completion of an equivalent certification. Second, a complete grant application, including all required documentation, must be submitted to PED. Required documents include a W-9 form, Portsmouth business license, articles of incorporation, business plan, financial statements, two quotes per product or service, proof of training completion, and, where applicable, proof of residency or co-working lease. Applications missing any required documents by the round's deadline will be automatically denied. Once a complete application is received, Portsmouth Economic Development reviews it to ensure compliance with program guidelines. Final decisions on grant approvals rest with the Economic Development Authority's (EDA) Board of Commissioners, which evaluates applications based on alignment with the program's objectives, financial need, remaining funds, and other relevant factors. Successful applicants enter into a formal grant agreement and must initiate funded activities within 30 days and complete them within 90 days of award. A one-time extension of up to 90 days may be granted on a case-by-case basis. The grant program operates on a quarterly cycle with four rounds each fiscal year. For FY2026, Round 1 runs from July 1–31, 2025; Round 2 from October 1–31, 2025; Round 3 from January 1–31, 2026; and Round 4 from April 1–30, 2026. Funding is distributed until the annual allocation is exhausted. The program emphasizes that each business principal may submit a maximum of two applications in a five-year period and may only receive one Smart Start Business Development Grant in total. For further assistance, applicants may contact Portsmouth Economic Development at (757) 393-8804 or visit their offices at 200 High Street, Suite 200, Portsmouth, VA 23704, Monday through Friday, 8 AM to 5 PM.

Submit all required documentation before the round deadline; incomplete submissions are automatically denied.