The Smart Start Business Development Grant Program offers financial support to new and recently established startups and small businesses. Its goal is to expand entrepreneurial opportunities, boost business resiliency, and build organizational capacity.
This program is funded entirely by the Portsmouth Economic Development Authority (EDA) and is available to businesses operating in Portsmouth, Virginia. Grants range from $1,000 to $10,000, with a maximum award of $2,000 per approved application.
Eligible activities include professional and third-party services that assist with starting a business, such as legal, financial, accounting, marketing, social media, and e-commerce support. Funding can also be used for small-scale production or manufacturing equipment, machinery, and tools. Additionally, technology and digital infrastructure like hardware, software, and digital platforms qualify. Business furniture, fixtures, and certifications are also eligible expenses.
To qualify, businesses must be new or recently established for-profit small businesses or non-profit organizations based in Portsmouth. Applicants should have been in operation for up to three years, as shown by a Portsmouth business license, and have 10 or fewer full-time equivalent employees.
Businesses using a co-working space mailbox must prove Portsmouth residency with a 12-month residential lease or home ownership documentation. Co-working tenants need a minimum 12-month lease and must provide a copy. Home-based businesses must also show proof of residency in Portsmouth.
Government entities at any level, religious organizations, and businesses used strictly for residential purposes are not eligible. All applicants must be current with City of Portsmouth taxes and fees.
For more information, visit EDA.
