The Smart Start Business Acceleration Grant Program offers financial support to established small businesses aiming to grow and expand within Portsmouth’s entrepreneurial community. This grant is provided by the Portsmouth Economic Development Authority (Portsmouth EDA) in Virginia.
It is a matching reimbursement grant where applicants must cover the initial full cost of their projects. The program reimburses 80% of eligible expenses, up to a maximum of $5,000 per approved application. The grant size ranges from $1,000 to $10,000, with applications due by July 31, 2025.
Eligible activities include professional and third-party services such as legal, financial, accounting, marketing, social media, and e-commerce support. Funding can also be used for small-scale production equipment, machinery, tools, technology infrastructure like hardware and software, business furniture, fixtures, and certifications.
To qualify, businesses must be for-profit or non-profit, based in Portsmouth, and have been operating for 3 to 7 years, as shown by a Portsmouth business license. Eligible businesses can have up to 10 full-time equivalent employees. Those using a co-working space mailbox must provide proof of Portsmouth residency through a 12-month residential lease or home ownership documents. Co-working tenants are required to have a minimum 12-month lease.
Home-based businesses need to prove Portsmouth residency. Government entities, religious organizations, and businesses used strictly for residential purposes are not eligible. Applicants must be current on all City of Portsmouth taxes and fees to qualify for the grant.
For more information, visit EDA.
