Gaining Capital: Introducing a New Program for Small & Medium Sized Businesses to Access Funds
Did you know that there are about 30.2 million small businesses in the United States?
The amount of capital a small business needs will depend on their operational overhead, future goals, the type of business it is and much more. Yet despite these variations, all small businesses due in fact need capital. Keeping this in in mind, it’s important to consider a variety of ways in which to gain capital for small businesses. Among the ways SMBs can gain capital right now is by applying to be a part of the Alibaba.com Grant Program.
Kicking off in September 2021, Alibaba.com has partnered with Hello Alice to support SMB innovation and growth through their first ever cash Grant Program for entrepreneurs to win hands-on support from ecommerce experts and compete for a total of $500,000. This program, which is open to any new or existing Alibaba.com account holder, is an exciting opportunity for small and medium-sized businesses to consider – especially with an understanding of what capital can bring to their business. From fresh inventory to new suppliers to increased product assortment and more, capital equals opportunity for SMBs. And in an increasingly competitive commerce landscape, opportunity is something to always keep on the top of a SMB to-do-list.
Choices in Capital
With traditional banks counting for the most popular way SMBs have historically gained financial support, banks alone do not support all SMBs. Poor credit history or a lack of business cash flow often sway banks and other financial providers to deny SMBs of capital, yet every business begins as a dream and Alibaba.com wants to nurture that.
Simply put, Alibaba.com wants to see SMBs flourish. Their goals in supporting entrepreneurs with capital doesn’t end with cash alone, however. Alibaba.com further supports SMBs by offering access to a variety of additional resources to help small business in using Alibaba.com, including but not limited to:
- Leveraging “Digitization Sprint for Retailers” on Alibaba.com where SMBs can find articles, how-to guides, web conference details, and interactive events to inspire and support their growth of their unique small business.
- Offering hands on support so that entrepreneurs do not have to feel alone in their efforts of building, maintaining and ultimately supporting their business goals.
- Providing over 8K Virtual Reality Showrooms for SMBs to browse and explore products in an immersive, engaging digital environment with 360 degree views of all products available.
- Producing an Elite Partner Event for Alibaba.com users to connect with global sellers and verified suppliers, gain trusted resources for production capabilities and the opportunity to communicate without having to travel or have in-person experiences.
With risk low and reassurance high, the capital available from the Alibaba.com Grant Program is a winning scenario for SMBs truly committed to supporting their business in growth and innovation.
This is a chance to reshape their future in commerce by applying to be a part of the first-ever Alibaba.com Grant Program. The best part? The commitment to apply is easy, making this a no-excuse opportunity for any SMB looking to enhance their business future.
Ready to change your future? Applying takes only a few simple steps with some basic criteria to meet.
How to Apply
Candidates of the Alibaba.com Grant Program must be a registered business and U.S. based. Additionally, they must have an Alibaba.com member ID in order to be considered, as well as demonstrate market need and opportunity to be a candidate. Additional points to consider include:
- Innovation in business model, product design, or marketing strategy to help identify the purpose of how they will use the capital
- Clarity of how they directly plan to use the funds if rewarded one of the $10,000 to 50 total recipients
- Judging will take place to identify those who will receive the capital
- Size of businesses will be reviewed, including total number of employees and annual revenue
Additionally, applicants of the Alibaba.com Grant Program will be reviewed for their experience with Alibaba.com. Whether you are a current user or new to Alibaba.com, you are encouraged to apply.
Being a SMB operator is hard work. It takes time, it takes effort and it takes money. Let Alibaba.com support your dreams of small business success by applying for the Alibaba.com Grant Program today.
The Alibaba.com Grant Program is open to apply from September 9, 2021 through 6PM EST on October 21, 2021. Winners will be notified no later than December 3, 2021 with a public announcement by December 6, 2021.
By Nicole Leinbach Reyhle, Founder of RetailMinded.com.