Empowered by Venmo: These Small Business Founders are Ready to Grow Announcing the recipients of Venmo's 2024 Small Business Grant Program.

As a Black woman and avid traveler, Dr. Nadine C. Duncan felt overlooked by the travel industry. In 2018, she decided to do something about it, founding the Atlanta-based Traveling Black Women Network, an online community where Black women can find tailored travel resources, share their experiences, and feel encouraged to explore the world confidently.

As the network's community has grown, so has Duncan's desire to enhance the platform and develop more high-quality travel content. Today, she's a little closer to achieving that goal. The Traveling Black Women Network is among 10 small businesses across a variety of industries—from health and wellness to retail, travel, and food and beverage—to receive $20,000 as part of this year's Venmo Small Business Grant program. In addition to the financial grants, the businesses will also receive professional coaching and exposure through Venmo marketing and communications.

"These entrepreneurs have not only harnessed the power of Venmo business profiles to manage and grow their businesses, but also have a strong passion and commitment to their crafts that helped turn their business concepts into tangible successes," says Erika Sanchez, Vice President and GM at Venmo. "We're excited to see how these entrepreneurs will use the financial grant and mentorship resources to continue growing their businesses."

Receiving recognition and resources to grow.

With a small team handling everything from operations to content creation, Duncan says the Venmo grant will enable her to hire more people to help scale her business.

"Specifically, we will invest in the production of new travel guides, podcasts, and vlogs, as well as marketing and outreach initiatives to expand our community and deepen relationships," she says. "Being selected for the Venmo Small Business Grant is incredibly exciting. It validates our mission and provides the resources needed to take the Traveling Black Women Network to the next level."

Risa Recio, another 2024 Venmo Small Business Grant recipient, has a similar story. Honing her novice glassblower skills by producing cups with happy faces on them, she soon found her apartment filling up with the cheerful creations. After taking her wares to local craft fairs, she realized there was a demand for them. So, she took the obvious next step: Founding her own handmade glassware business called Tak Tak in 2019.

Recio says she plans to use the Venmo grant to purchase a mobile glassblowing unit which will enable her business to increase production and expand their product line. She also plans to open a physical glass-making studio that offers educational programs and workshops to diverse communities around the local Cedar Creek, Texas, area.

"This recognition gives me the confidence to keep trusting my artistic and entrepreneurial intuition and fully pursue my vision for Tak Tak's future endeavors," Recio says. "I'm excited to bring visibility to my experience as a female, Filipino immigrant, and entrepreneur in the glass craft. As a community taught glassblower, I hope to encourage underrepresented voices in any field to pursue their passions and forge their own unique path."

Going beyond the financial benefit.

In addition to the $20,000 grant, each of the 10 businesses will have access to valuable mentoring from Venmo partners Global Entrepreneurship Network (GEN) and Hello Alice to provide recipients with technical expertise on topics such as legal services, financial analysis, digital marketing, and more.

Sanchez says the goal is to help these deserving small businesses "overcome challenges, grow their operations, and achieve success in their business ventures." GEN and Hello Alice will connect the small business owners with personalized resources and support, including comprehensive guides, programs, financial products, and expert coaching to help them improve their overall business performance and financial health.

"Beyond the financial grant, I'm most excited about the mentorship and networking opportunities," Duncan says. "Connecting with other entrepreneurs and industry experts will provide invaluable insights and guidance as we continue to grow."

Dedicated to helping small businesses achieve success.

Venmo says it received more than 50,000 applications for this year's Small Business Grant Program. Judges then conducted a deep review of the top applications—giving special consideration to small businesses in historically underrepresented communities. Sanchez says that this amount of interest and participation demonstrates that there's a continued need for support of the small business community across the United States.

"We've been inspired by the ways that Venmo business profile users across the U.S. have leveraged the program's financial grant and mentorship resources to overcome challenges, grow their operations, and achieve success in their business venture," she says. "We're thrilled to be a part of their journey."

Click here to learn more about Venmo's Small Business Grant Program and check out the full list of 2024 recipients.