Birmingham Open for Business, created in partnership with the PNC Foundation and REV Birmingham, provides resources and capital in the form of grants to small business owners that need support in starting, growing and scaling their businesses.
Birmingham Open for Business is open to all small businesses in the City of Birmingham, with a focus on minority businesses and/or those centered in low-to-moderate income census tracts and business districts within the city. The goal of the program is to connect these under-resourced entrepreneurs with the capital and tools to sustainably build their businesses for the long-term, ultimately helping to decrease blight, improve public spaces and create more vibrant communities throughout the city.
The program offers resources and funding opportunities to meet the needs of entrepreneurs at three different stages of business. Keep reading to learn more about the three stages, determine where your business fits, and apply for the program.
What stage is my business?
Stage 1: Ready
If you are an entrepreneur who…
- Owns a for-profit business that is not yet located in a brick-and-mortar space;
- Has been in business for at least one year;
- Has generated verifiable business revenue within the last twelve months; and
- Desires to open in a brick-and-mortar location within the Birmingham city limits in the next 6-24 months
… Apply for the Ready stage! The Ready stage will award a total of $100,000 to up to 15 entrepreneurs (approximately $5,000 – $7,500 value per entrepreneur) to pay professional service providers, including accountants, marketing professionals, lawyers, and more. Ready stage winners also receive free business coaching, real estate assistance, and financial education to ready them for brick-and-mortar success.
A second round of the Ready stage will open in fall 2024.
Looking to learn more? Our team held a virtual application workshop to review the program, discuss qualifications and important dates, and walk through the entire application process. To watch the workshop recording, click the button below.
You will have the opportunity to upload a business plan or pitch deck to strengthen your application. If you do not have a pitch deck, we encourage you to use this template to develop a pitch deck for your business.
If you would like to talk to the REV team about your business, or if you have questions about the application, email openforbiz@revbirmingham.org or sign up for office hours.
Stage 2: Open
If you are a business owner with a brick-and-mortar space identified, but you need additional funding to open your business, apply for the Open stage.
In order to qualify for the Open stage, applicants must meet the following criteria:
- Owner of a for-profit business that has not yet opened in a brick-and-mortar space;
- Brick-and-mortar space identified within the City of Birmingham, with a letter of intent or signed lease (for leased properties, or a contract or deed for purchase);
- Ability to upload a project plan for business opening with a fully loaded project budget AND a business plan or pitch deck complete with financial projections; and
- Ability to provide two years of tax returns and a personal financial statement if selected as a finalist
The Open stage will award a total of $250,000 in grants to up to five small businesses. Open stage winners also receive connections to lending partners if needed and PR support for the business opening.
Applications will open May 3, 2024, with a second round in fall 2024.
Looking to learn more? On Thursday, May 9, at 12 p.m., our team will hold a virtual application workshop to review the program, discuss qualifications and important dates, and walk through the entire application process. To register for the workshop, click the button below. The workshop will be recorded and shared on this page.
If you would like to get a head start on your application, we encourage you to begin developing a pitch deck, project budget and project plan using these templates: Pitch Deck, Project Budget, Project Plan
You can also preview a PDF of the application here.
REV is happy to help talk through your project and application strategy! Schedule time with the REV team.
If you would like to apply for the Open stage but do not yet have a brick-and-mortar space identified, REV would be happy to help you find a space that will work for your business.
Stage 3: Grow
If you are a business owner who has…
- A business located in a brick-and-mortar space in the city of Birmingham that has been open for at least one year;
- The ability to share two years of business tax returns;
- Plans to sustain and/or grow your business over the next 3 years; and
- A need for small grant funding or assistance from professional service providers to improve your business
… Apply for the Grow stage! The Grow stage will award a total of $110,000 to up to 15 businesses either for small grants (up to $10,000), or funding for professional service providers. Grow stage winners also receive business coaching from REV Birmingham and financial education and connection to lending resources as needed.
Applications will open May 31, 2024.
If you would like to get a head start on your application, we encourage you to begin developing a pitch deck and project budget using these templates: Pitch Deck, Project Budget
REV is happy to help talk through your project and application strategy! Schedule time with the REV team.
Need more information?
If you still have questions or want to learn more, sign up for our office hours or email openforbiz@revbirmingham.org. For full program details, check out the guidelines below.