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Where can I get a small business grant?

The government offers grants for just about any reason, so why not for small businesses?Although there are many people that start up their own business every year, there are also many that stop at just the knowledge of how to do so.This is often because of a lack of money.Small business grants were created for this reason. Business grants can be given to new business owners and future business owners as well as existing business owners.

There are many different types of business grants.There are grants for women, minorities and grants for equipment, rent, expenses and overhead.You can also use grant money to give yourself a salary as you are starting out.The great thing about grants is that it is free government money and never has to be paid back.

Finding and identifying government agencies that give grants for specific purposes or in specific subject areas requires time, effort, and research. If you are looking for funding for a for-profit business, you may encounter difficulties in finding and getting grant funding. Although not always the case, government grants are generally given to non-profit organizations for programs and services that benefit the community or the public at large.

To begin your search for government grants, try looking at the U.S. Government's website. Another place to look is on the Government's Catalog of Federal Domestic Assistance (CFDA).Check on the Federal Registeror on specific agencies' websites periodically as well since that's where new funds available for grants announcements are published.If you find a grant that interests you, make sure that you carefully read the section on Eligibility Requirements to find out if you would be qualified to apply for that particular grant.

Getting a grant can be very difficult.There are many that will tell you that there is money out there for the taking.Although there is some truth to that, there is a lot of competition for grant funds and a lot of work involved. To be successful in winning a grant, you must provide the funding agency with a well-written proposal which clearly states your objectives and sets forth a plan and budget for your activities.If you are awarded a grant, you may also be required to provide periodic progress, program evaluation, and/or financial reports to the government.

Writing a grant proposal is basically your company's business plan.This is something you will want to have whether you are applying for a grant or not.Things you will want to include in your proposal are:

  • Executive summary: this is what introduces your business strategy and outlines your goals and ideas.

  • Brief section on company start-up: this section of writing a grant proposal is where you must clearly explain the origins behind the company's creation and how you or your business associate came up with the idea to start your business

  • Business goal: use this section to briefly explain your short and long-term goals for the company. Like how fast you think it will grow and who will be your primary customers.

  • Biographies of the management team: this section will be used define your management team and their purpose. This section should include information such as the names and backgrounds of lead members of the management team and their respective responsibilities.

  • The service you plan to offer: this is where you will have the opportunity to discuss how your business differs from every other business on the market.

  • The market potential: this is the section where you will really want to remember that you've got to convince these people that what you're doing is large and growing. You'll need to do some research for this section.

  • The marketing strategy: This is the section where you will have to ask yourself how you plan to tell the world you're open for business.Include how you plan to market yourself or your business.You will also need to include how much you plan to spend on marketing.

Business grants are usually given to applicants who have a solid layout for a business plan and a thoroughly researched return expectancy in the year, so the more detailed your reports are, the better chance you have of getting it.If you think that you qualify for a grant, be prepared to work for it or contract with a competent professional to assist you.

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