If you are looking to open your very own business, you aren’t all alone. Each year, an increasing amount of people take the decision to stop working to make other people rich and decide to start their own businesses. For most of these people, having the start-up capital that is needed is harder than one might initially think.
Small business grants are often quite a debated topic with new business people with a small amount of money and access to capital. We have all seen the many media claims about "Free Government Grant for Small Business." It seems all too easy to obtain these days.
Obviously, if it were really that easy, all you would have to do is to find a government small business grant to apply for, apply, and before you knew it you would have the sufficient amount of money to grow your business.
Most U.S. government departments, like the Department of Commerce, don’t provide any grants for help in starting a small business. Grant programs are available through state programs and other groups as well. The grant programs are often awarded to people in fields such as medicine or education, and they all have specific criteria for eligibility.
The procedure of finding a small business grant program to apply for and reviewing the requirements to getting it might be very time consuming. After conducting a two-week search for a medical publisher, we found that the requirements were very specific and indeed quite difficult to meet.
Eligibility can be based on your location, and your business’ sales revenue to the application date, years in business, sex, race, and even for funding purposes.
If you would like to take a look at the small business grants which are available, the best place to begin is the Catalog of Federal Domestic Assistance (CFDA). The CFDA lists thousands of grants from all government agencies at no cost. Many business grants will be prepared for minority business development or rural business opportunity grants. Try not to overlook the other assistance programs available such as training and equipment.
If you do find a small business grant program which is available for your business, you will need to be ready to go through a very lengthy, approval process. With today’s funding cutbacks and the very high amount of competition you might want to be prepared for it by following the quick tips below:
If you find that you are willing to go through the steps that will be needed in order for you to get your grant, then this will be your most comprehensive guide towards making it happen. After reading through this guide you will be fully equipped and better informed to not just apply for, but obtain the grant that you need.
In this guide you have learned to:
- search for grant programs that will suit your needs
- properly apply for them
- writing a business plan
- talking to a consultant
- what to avoid
- special tips
Hopefully, you have learned everything that you need to know in order for you to obtain the grant of your choice. All you need to do now is apply for it. Good Luck!
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