Government grants for small business are a valuable resource for small business owners. With the money to purchase supplies, hire employees or advertise the business, small business owners will have an easier time with their start up. While they’re not widely advertised, there are many different government grants to help entrepreneurs get their businesses off the ground.
Create a Business Plan
The first thing entrepreneurs should do regarding their business is create a business plan. A business plan highlights the company’s goals, mission, services and products, target market, and more. This can serve as a helpful guide when it comes to applying for grants and can often be used in lieu of a grant proposal, though both are helpful as well. A business plan should be well organized, factual, easy-to-read and understand, and free of grammatical and typographical errors. The Small Business Administration offers helpful hints for writing a business plan at the SBA.
Work with the SBA
The SBA or Small Business Administration has an official website as well as chapters in each state. It is a highly reputed organization that offers business grants and startup loans at lower interest rates than normal. The SBA also offers a number of tips, suggestions and other forms of help for entrepreneurs and small business owners. Individuals working with the SBA will have a better chance of finding grants that will help them start their businesses and make them successful.
Business.gov is a direct link to the US government that can be quite helpful for entrepreneurs. They provide an up to date list of all startup grants and loans as well as other programs from the US government. There are many different kinds of advice, suggestions, and tips available on this website as well. This is a great starting point for anyone who is searching for government business startup loans or grants.
Consider Business Start up Benefits
Individuals should consider how their business will benefit the community and surrounding cities and towns. Those more likely to benefit the community will be considered differently than those that are not. For instance, if one business will create twenty new jobs in the city the business is started in, it will probably be more likely to get the grant than a business which will only offer one or two jobs. By considering the benefits of their businesses, entrepreneurs will have a better chance at receiving startup business grants.
Check out Government Grants at the State Level
It’s important for entrepreneurs to check at the state level for startup grants and funding. While there are business grants available from the federal government, entrepreneurs are much more likely to find a program or grant within their own state. Check with local organizations and associations that typically offer grants for entrepreneurs and small businesses. Learn more about checking at the state level at US Gov Info. By using the tips and information above, entrepreneurs can successfully fund their small businesses with start up grants or low interest loans.