King County launches Small Business Accelerator to support minority and women-led enterprises

Federal Way, WA, is taking significant steps to empower local businesses and nonprofits through its second Grant Writing Workshop, titled "Grant Sleuth: Uncovering Funding Opportunities." Held on January 13, 2025, the workshop aimed to equip participants with essential skills and knowledge to navigate the complex world of grant funding.

A key highlight of the workshop was the emphasis on building relationships with funders. Participants learned that securing grants is not just about submitting applications but also about fostering connections with potential donors. The workshop featured insights from experienced mentors, including retired banker David, who provided practical advice on how to approach grant writing and funding opportunities.

The discussion also clarified the financial implications of receiving grants. Attendees were informed that grants are considered revenue and must be reported as income, regardless of how the funds are utilized. This understanding is crucial for small businesses and nonprofits to manage their finances effectively.

Additionally, the workshop spotlighted local resources available to businesses in King County. The Small Business Accelerator program was introduced as a valuable tool for accessing grants and support tailored to the needs of the community. Participants were encouraged to connect with Frank Boykin, the project director for the Minority Business Development Agency, who can assist minority-led and disadvantaged businesses in navigating funding opportunities.

The importance of gratitude in the grant process was also underscored. Participants were advised to express appreciation to funders, not only as a courtesy but as a strategic move to strengthen relationships. Sharing success stories and demonstrating the impact of funding can lead to continued support and additional funding opportunities.

Looking ahead, the next workshop will focus on "navigating post-grant success," where attendees will learn about compliance, reporting, and further engagement with funders. This ongoing series of workshops reflects Federal Way's commitment to fostering a robust environment for local businesses and nonprofits, ensuring they have the tools needed to thrive.