The reason why most people start a business is to achieve economic independence, yet the first period of actually owning a business is usually very difficult – fortunately, grants for small business owners and start-ups are available from numerous sources. The grant programs that offer free money to deserving business owners come from foundations as well as from private and public organizations – here are a few tips about how to find the programs you are eligible for and how to apply for the grants.
You can start searching for a suitable grant locally – many states and counties have access to special funding resources that they can use to help local businesses. Helping small business owners grow in the best interest of everyone – the business owner can put lucrative ideas into practice with the free money received and growth will mean more workplaces created and will conduct to the direct or indirect development of the area or region where the business operates. To find grants, you can visit the website of your state governor’s office or contact the local Chamber of Commerce. The website of the US Small Business Administration is also good source of information.
It may sound strange to you, but private companies also offer grant opportunities for other businesses. Large corporation have great grant programs for small business owners to allow small businesses and start-ups to grow. In this context, the small business eligible for the grant is not considered to be competition for the grantor corporation, but a potential business partner worth helping. Non-profit organizations are also great sources for grants – many of them offer non-repayable financial aid to small business owners belonging to a specific social group such as single mothers, women who belong to a specific age group, Afro-American or Native American business owners. There are great business grants offered to small enterprises in a specific geographic area or to companies that operate in a certain industry or field.
The best source to find grants that you are eligible for is the internet. A simple query will return dozens of results – just make sure that you look at as many different sources as you can think of. Include state-level and local sources, check the sites of the biggest corporations in your niche, and visit the websites of non-profit organizations as well. Don’t stop when you have found one or two grants programs – keep searching to identify as many opportunities as possible, as the more grants you apply for, the bigger the chance you stand to get the funding you need.
The application process is very similar with most grant programs: you need to write a summary of your business activity, your plans for the future and how you intend to use the grant money. However, grant programs can also have specific requirements, such as asking candidates to support the description of their company activity with documents or to provide documents later on, to prove that they have used the money the way it was meant to be used. Pay attention to all the requirements and follow the application guidelines as closely as possible. There are lots of great grants for small business owners out there, providing you with the funds you need – just make sure your application is as good as you can make it.