Federal Grants for Small Business

If you have had to put a hold on starting you new business venture due to lack of financing, it would be wise to look into how to get free money from the government. There is such a wide array of grants available that it is worth the investment of time to research these unique opportunities. Of course, certain programs in specific fields tend offer more government grant money than do others. Understanding this will make it easier to match your company’s expertise and skills to the types of grants that are more readily available. The biggest hurdle for most people is in knowing where to look for these financial assistance programs.

The federal government regularly allocates large sums of money to help individuals throughout the U.S. launch new enterprises or expand existing ones. One of the difficulties in finding federal grants for small business ventures is that although these funds are initiated at the federal level, it is through state and local agencies and corporations that these monies are distributed and administered. Some of the agencies that post grant opportunities through their various departments include:

  • Health and Medicine

o   National Cancer Institute for cancer research

o   U.S. Health Resources and Services Administration in the field of health care services

o   National Institutes of Health through NIH grants

  • Community and Social Services

o   U.S. Department of Justice in the area of law enforcement

o   U.S. Department of Labor with employment and labor grants

o   U.S. Department of Housing and Urban Development for housing projects

  • Science, Technology and Environment

o   National Telecommunications and Information Administration in the area of telecommunications

o   U.S. Department of Energy for energy sciences grants

o   National Institute of Standards and Technology for technology grants

o   Environmental Protection Agency provide environmental grants and fellowships

o   National Science Foundation for scientific research grants

o   U.S. Fish and Wildlife Service in the area of natural resources

  • Arts, Humanities and Education offers grants through various government agencies such as:

o   The U.S. Department of  Education

o   Institute of Museum and Library Services

o   National Endowment for the Humanities

o   National Archives and Records Administration

With so many grant proposals being offered by so many different agencies and a number of nonprofit corporations, it can be difficult and frustrating to find the one that fits your expertise and experience. Spending some time researching the most popular types of grant proposals available for small business will allow you to revamp or adjust your business set-up to better match a larger number of grant opportunities. Having a completed business plan is also essential as most agencies require that one be included with your application.

It is important to make the best use of your time as possible when gathering all the information you need to put together a professional grant application which will include your business plan. The key to this lies in knowing where to find the right grant opportunities as well as free professional advice on all aspects of acquiring federal grants for small business purposes.

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