Applications are now open for the 2024 NKY Small Business Grants program, which is geared toward supporting minority, women and veteran-owned small businesses in Boone, Campbell and Kenton counties.
The Duke Energy Foundation and Covington-based innovation hub Blue North have each contributed $25,000, bringing this year’s total fund to $50,000. These funds will be allocated in varying amounts ranging from $1,000 to $10,000 and will be awarded to businesses with 50 or fewer employees that are also Duke Energy small business customers located in Boone, Campbell and Kenton counties.
The funds may be used for various expenditures, including physical space adaptability and beautification, technology improvements, talent sourcing, job posting fees and/or professional development training costs. Ineligible expenses include payroll, incentive pay, rent and utilities.
Blue North’s funding will come from the organization’s Northern Kentucky Entrepreneurship Fund, which was launched in 2023 and focuses on supporting NKY-based entrepreneurs.
“Since launching the NKY Entrepreneur Fund, 26 Northern Kentucky entrepreneurs have received grants through Blue North’s partnership with Main St. Ventures,” Blue North’s Executive Director Dave Knox said in a press release. “We’re excited to launch our second partnership with the NKY Chamber and the Duke Energy Foundation to further this impact and support the entrepreneurs that are the backbone of our community.”
To be considered a minority-owned business, a company must be at least 51% owned, operated and controlled by at least one Asian-Indian, Asian-Pacific, Black, Hispanic or Native American individual.
Women-owned businesses must be at least 51% owned, operated and controlled by one or more women and a woman must lead the company’s day-to-day activities.
Veteran-owned businesses are defined as having at least 51% of the business directly and unconditionally owned by one or more veterans or service-disabled veterans.
Award recipients will be selected by an application review panel of NKY Chamber members in good standing. Grant award winners will be notified prior to a public announcement held in concert with “Small Business Saturday” on Nov. 30.
More than 300 businesses have applied for NKY Small Business Grants for minority, women and veteran-owned businesses since the program’s inception in 2020, with 41 local businesses receiving assistance.
Applications are open now through Oct. 1. Those interested in applying can do so at www.nkychamber.com/talent.