Finally decided to start your own company but having problems finding the necessary startup capital in order to get it running? Have no fear, the Government is here! Yes, I did just say The Government. The US Government offers free grants to small business owners as a way to help encourage growth and stability. While there are thousands of these offers available every year, very few are even applied for? Why is that? Because most people do not even know they exist!
Every new entrepreneurs dreams to take his business to the Forbes 100 List but most of them fail to realize realistic goals. One of the largest contributing factors to this is a lack of startup capital or initial investment. Running your own business is expensive, something that is easy to miss-judge. For this reason, the government offers free grants that are available to boost new business here in America.
So how can I get one of these small business grants? Simple, you need to search one of the many thousands offers available to find one that fits your needs and requirements. Some guidelines regarding that process as well as some tips on what to look for in a grant offer can be found online. Once you've found the offer that fits your company you then need to submit a business plan / grant application.
Some important things to keep in mind when applying to:
1. Presentation of the business plan –
The first important step is the presentation. Any small business grant distributor will be interested primarily in how you tend to use the money if they give it to you, and also how you plan on using the funds to make a profit. The difference between a bank loan and a federal grant is you do not have to show them how you'll repay it (grants are cash gifts), which means you should focus on the ultimate goal of your business rather than the small steps you plan on taking to generate revenue along the way.
2. The message conveyed in the business plan –
The business plan is the cornerstone of any grant application This plan gives a clear idea of your goals and vision as well as a rough timetable for accomplishing these goals. The potential in your business is shown in your business plan and it is the plan itself, which increases the confidence that the grant distributers will have in you.
3. The Eligibility for small business grants sanction –
* Small business grants are readily extended to small business industries to help them grow, only if they have a potential.
* Small business grants bodies have their own objectives and give grants money to those satisfying them in the best possible manner.
* The location of the business is one big reason for sanction of small business grants. The government wants decentralization of industries in order to avoid migration towards cities. For example, you've got an easier time securing a small small business grant if you planned on being headquartered in upstate New York rather than downtown New York City.