Starting and managing a small business in Wyoming is not an easy task. Over $8,244,330,000.00 US dollars are paid to employee salaries/payroll alone in the state of Wyoming. And more than 1,499 businesses declare bankruptcy every single year.
Although the federal government does not publically provide grants for starting and expanding your business. In Wyoming some small business grants are given to business owners to start and grow their ventures, and grant recipients do not have to pay back the funding from government.
Therefore, it makes sense to look into small business grants as one of your sources to fund your business.
Number of Business in Wyoming
According to US Grants, there are 17,716 business establishments in the state of Wyoming, and they break down to the following:
Wyoming Business Sector Breakdown by Size
- 10,472 registered businesses in Wyoming have 0 to 4 employees. People who work at home with sole proprietorship are included in this breakdown.
- 3,048 registered businesses in Wyoming have 5 to 9 employees.
- 1,806 registered businesses in Wyoming have 10-19 employees.
- 1,336 registered businesses in Wyoming have 20-99 employees.
- 379 registered businesses in Wyoming have 100 to 499 employees.
- Over 675 registered businesses in Wyoming have over 500 employees.
Wyoming Business Sector Breakdown in Service Industries
- 1,948 registered businesses in Wyoming are in the Professional, Scientific and Technical Services sector.
- 934 registered businesses in Wyoming are in the Administrative, Support, Waste Management, and Remediation Services sector.
- 1,732 registered businesses in Wyoming are in the Accommodation and Food Services sector.
- More than 1,830 registered businesses in Wyoming are also service orientated businesses but are not categorized to the above sectors.
If you are in the farming industry, you may be eligible to apply for small business grants as well. There are more than 11,000 farms in the state of Wyoming.
Wyoming Small Business Grants
While the Wyoming Business Council doesn’t offer direct grants to private businesses, there are exceptions for specific situations. It’s crucial to connect with your regional director to explore these possibilities.
However, don’t let this deter you! Wyoming leverages federal programs and partnerships to support small businesses. Here are some key grant opportunities to consider:
1. The Wyoming SBIR/STTR Initiative (WSSI)
This program is a game-changer for tech-focused businesses. WSSI empowers you to tap into federal research grants, fostering innovation and commercialization of your groundbreaking technologies.
WSSI goes beyond just funding; it provides workshops, seminars, and invaluable one-on-one mentoring to guide you through the application process and craft compelling proposals.
This comprehensive support increases your chances of securing those coveted funds to bring your inventions to market and contribute to Wyoming’s economic growth.
Here’s what makes WSSI so attractive:
- Focus: Technology-driven small businesses
- Benefits: Grant funding (ranging from $100,000 to $1 million), workshops, seminars, and mentorship
- Goal: Encourage research, development, and commercialization of innovative technologies
Explore WSSI further: Wyoming SBDC Network
2. U.S. Small Business Administration (SBA) Grants
The SBA serves as a cornerstone for small business funding across the nation, including Wyoming. Through programs like the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR), the SBA offers grants ranging from $100,000 to a staggering $1 million.
This funding empowers you to bring your research ideas to life and propel your innovative products or services into the marketplace. Additionally, the SBA’s Community Navigator Pilot Program offers a beacon of hope for underserved communities.
This program provides not only financial assistance but also crucial guidance, ensuring a more level playing field for all entrepreneurs.
Here’s a breakdown of the SBA’s offerings:
- Programs: SBIR & STTR
- Grant Range: $100,000 – $1 million
- Focus: Research and development of innovative products or services
- Community Navigator Pilot Program: Provides financial support and guidance to underserved communities
Click here to learn more about SBA grants
3. Wyoming Business Council
The Wyoming Business Council (WBC) supports entrepreneurial innovation and growth across the state. Its initiatives like the Wyoming Venture Capital (WYVC) program provide equity financing for high-growth companies.
WYVC focuses on early-stage funding to help businesses scale and eventually exit. Additionally, the WBC organizes pitch events and startup challenges to connect entrepreneurs with investors.
By working with economic development organizations, WBC aims to streamline business processes, attract new enterprises to Wyoming, and expand existing ones.
4. University of Wyoming
The University of Wyoming plays a pivotal role in nurturing new business ventures. Hosting the Wyoming SBDC Network, it provides state funds and logistical support to entrepreneurs.
This institution also facilitates research and development of Wyoming-based commodities, helping local businesses innovate and compete on a larger scale. Through various programs, the University provides comprehensive training and support, aiding in business starts, retention, succession, and expansion.
Small Business Grants Wyoming 2024/2025
| Funding Number | Agency | Category | Funding Amount | Program |
|---|---|---|---|---|
| USDA NRCS WY MULTI 24 NOFO0001356 | Natural Resources Conservation Service | Environment, Natural Resources | $1,000,000 | 2024 Wyoming Conservation Cooperative Agreements |
| O OJJDP 2023 171848 | Department of Justice, Office of Juvenile Justice Delinquency Prevention | Law, Justice and Legal Services | $2,000,000 | OJJDP FY 2022 and 2023 Nonparticipating States |
| O OJJDP 2021 30002 | Department of Justice, Office of Juvenile Justice Delinquency Prevention | Law, Justice and Legal Services | $3,500,000 | OJJDP FY 2020 and 2021 Nonparticipating States Solicitation |
| BOR MB 20 N001 | Department of the Interior, Bureau of Reclamation | Environment | $24,000 | Aquatic Invasive Species Prevention Activities in Wyoming |
| L20AS00099 | Department of the Interior, Bureau of Land Management | Natural Resources | $2,500,000 | BLM WY State of Wyoming, Abandoned Mine Land Coordination AML |
| L20AS00087 | Department of the Interior, Bureau of Land Management | Natural Resources | $500,000 | BLM Wyoming Recreation and Visitors Services |
| L20AS00049 | Department of the Interior, Bureau of Land Management | Natural Resources | $250,000 | Wyoming Wildlife Resource Management |
| HHS 2020 ACF OHS CH R08 1765 | Department of Health and Human Services, Administration for Children and Families – OHS | Income Security and Social Services | $2,563,594 | Head Start and/or Early Head Start Grantee — Laramie County, Wyoming |
| F19AS00289 | Department of the Interior, Fish and Wildlife Service | Other (see text field entitled Explanation of Other Category of Funding Activity for clarification) | $100,000 | Wyoming Species of Conservation Concern |
| L19AS00087 | Department of the Interior, Bureau of Land Management | Natural Resources | $40,000 | Wyoming Cultural and Paleontological Resource Management Program |
Funding Opportunities for Small Businesses in Wyoming
Wyoming offers a variety of funding opportunities for small businesses, from state-level programs to federal grants and loans. Additionally, there are investment and venture capital options available to support business growth.
1. State funding programs
In Wyoming, small businesses can access various state funding programs through entities like the Wyoming Business Council. These programs often focus on economic development and job creation. While the council itself cannot loan or grant state funds directly to private businesses by statute, they can assist in identifying other resources.
For specific funding needs, Wyoming offers unique grants and loans for projects that promote innovative business solutions. These opportunities may include matching grants for high-tech startups or funding for rural business development.
2. Federal government opportunities
The federal government provides significant funding resources for Wyoming’s small businesses through agencies like the U.S. Small Business Administration (SBA). The Wyoming District Office of the SBA helps businesses access millions of dollars in funding annually.
Programs such as the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) offer grants that range from $100,000 to $1 million to support research and commercialization efforts. Additionally, the Community Navigator Pilot Program aims to help underserved communities by providing financial support and guidance.
3. Grants and loans
Small business owners in Wyoming have access to various grants and loans that cater to different needs. The Wyoming Small Business Development Center received a $2.5 million grant from the SBA to support the Community Navigator Pilot Program, which helps entrepreneurs access crucial resources.
Furthermore, the Innovation Funding & FAST Program offers federal grants to support technology-driven businesses. These grants are designed to help businesses at different stages, from initial research to final product commercialization. Loans are also available through traditional and non-traditional lenders, often facilitated by state and federal programs.
4. Investment and venture capital
Investment and venture capital play a critical role in the growth of small businesses in Wyoming. Entrepreneurs can seek out venture capital firms that specialize in early-stage financing. These firms provide not only capital but also mentorship and strategic guidance.
Angel investors are another important source of funding. They often invest in small businesses with high growth potential, providing much-needed seed money in exchange for equity. Both venture capital and angel investments are crucial for businesses that need substantial funding to scale operations quickly.
Frequently Asked Questions
Who provides small business grants in Wyoming?
Local and state government agencies offer a variety of small business grants in Wyoming.
You can compare small business grants in Texas with similar programs in other states, such as:
- Small Business Grants Michigan
- Illinois Small Business Grants
- Small Business Grants Ohio
- Colorado Small Business Grants
- Small Business Grants Arizona
- Indiana Small Business Grants
- Small Business Grants Texas
- Wisconsin Small Business Grants
What are the eligibility requirements for startup funding programs in Wyoming?
Eligibility for startup funding programs in Wyoming typically requires the business to operate within the state, have a feasible business plan, and sometimes focus on certain priority industries.
How can individuals apply for small business funding in Wyoming?
Individuals can apply for small business funding in Wyoming by visiting state-supported websites or contacting local Small Business Development Centers. For example, Wisconsin’s Department of Revenue provides guidelines for grant applications.
References:
