Government Grants For Small Businesses

Posted on by ShabirM

Government grants for small businesses are created for specific projects or programs that in some way benefit a disadvantaged group, innovative research and development projects, highly focused technology or environmental programs. However that is not to say that as the owner of the local music store, you cannot qualify for a government grant. You may have previous experience in working with neighborhood youths which would qualify you to expand your business to include a nonprofit department providing after-school music programs for youth within your community.

There are definite steps that you can take to realize this type of expansion using government grants for small businesses. There are federal government agencies that offer grants in community and social services or in the area of arts, humanities and education that may match your area of expertise and experience. The difficulty often lies in knowing where to find the right grant opportunities that match your particular business and the skills you have to offer. Once you have researched the grants that are available within your field, you can begin to focus on how to implement programs that may be eligible for grant funding. At this point, it is crucial that you put together a business plan outlining your intended project. Since there will likely be more than one grant opportunity that would be a good match for your proposed new company, you will be able to adjust your business plan to meet the specific criteria of each of the several government small business grants available.

If you have plans to start a new business, it is certainly worth your time to research the many government grants for small businesses that are available through state or community agencies. Knowing how to find grants and knowing where to look for free professional advice will of course help narrow your focus into areas that are relevant to your skills and experience. There are certain elements that all business owners will have to complete before applying for any type of grant funding. A few of the basic steps that need to followed are:

  • Have a complete business plan
  • Have a location for your business (this could be your home or a separate location)
  • Choose a business structure
  • Register the name of your business
  • Contact your state revenue agency to determine which tax identification number you will require
  • Apply for any business licenses or permits that are needed to carry out your business

Some of these tasks may seem overwhelming at the beginning, but remember that if you know where to find the right resources, there is plenty of free professional help and advice to help you through each step. As you conduct your research, it is important to keep in mind that there are many grant scams that you should avoid. Some tips to help you steer clear of grant scams are:

  • Never pay to fill out or submit a grant application
  • Beware of quick application approvals. Be cautious of anyone who gives you either an instant response or one within a day or two
  • No granting agency will ever contact you personally with offers of free grant money
  • Never pay a processing fee to receive government grant funding

Also, keep in mind that no government department or other granting body will ever contact you personally with offers of free government grant money nor can anyone guarantee that your request for grant funding will be approved.  If you are looking for government grants for small businesses, you might also look at other private grants Рplease look at this business funding list.

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