There’s a lot of resources available for new start-ups, but securing government grants for small business is one of the better financial programs that new entrepreneurs can take advantage of. Because grants are not loans, there is typically no credit check, you don’t need collateral, and there is no income verification. The terms are pretty attractive as well since the funds that are received never have to be paid back.
While government grants for small business may not be able to provide you with all of the money you need to launch your new business, they can offer as much as $50,000 to get you off the ground running. The idea is not to fully fund your new business, but to help relieve some of the financial pressures and provide some initial assistance. Over time, your business should be able to provide and sustain a profit, which would reduce any need for government money.
What kind of businesses can obtain small business grants?
Government grants for small business are available for new daycare centers, real estate investing firms, eco-friendly businesses, nonprofit organizations, minority businesses, women owned businesses… the list is virtually endless. If you can provide a winning grant request that demonstrates your ability to build a profitable venture, the government wants to hear from you and help.
By helping your small business succeed, the economy as a whole benefits. It creates competition, produces jobs, gets people to spend money on your product or service, and attracts new businesses to the area. These are all great ways to boost the local economy and bring more tax dollars into the system.
But just because government grants for small business are available doesn’t means you can’t find private grant money as well. There are numerous organizations and special interest groups that are dedicated to helping individuals expand their business or get it off the ground running. With the right resources, individuals have an opportunity to quickly find and apply for some of this free grant money and make their dreams become a reality.