Free Money For Entrepreneurs
Starting or growing a business can be a costly undertaking and usually requires a great deal of cash. While there are a variety of ways to raise capital for your business venture, these can be both time consuming and difficult depending on the funds required. The US government and private organizations set aside millions of dollars every year through business grants that help companies get started, increase their trade and stay afloat in hard times.
In times of financial hardship the last thing the federal government wants is to see businesses fold. This starts a domino effect that means job loss, decreased consumer spending and a flagging economy. These grants are targeted at future business owners, new businesses Translation Agency UK and established businesses. Last year alone, the government gave $34.08 billion dollars in grants to for profit businesses. Of this sum, $101 million went to small businesses. This money was used to start up companies, maintain jobs, and renovate offices, update systems and much more.
Business grants are ongoing throughout the year and range from $1,000 to $1,000,000 depending on the cause. So if you have a great business idea or plan in the works, but not quite enough capital to get your project moving, or perhaps need a little extra money to renovate your offices, or update existing computer software; then a business grant might be for you.
Non-profit organizations are also eligible for business grants. In fact, because these organizations are supplying a public service and receiving no capital gain the federal government is quite willing to supply funds to help subsidize their costs. In 2008, the government gave business grants totalling $20.73 billion for non-profit organizations throughout the U.S.
Also remember that certain individuals and businesses may be eligible for specific business grants based on race, ethnicity, gender, disabilities, and much more. Now more than ever the government understands the importance of helping out businesses and stimulating the economy. Take advantage of this need to get our economy back on its feet.
Some of the reasons your company could qualify for a business grant include:
- Starting or growing your state business
- Your business is located in a small town
- You are a minority owned and/or women owned businesses
- You are a company that has been hurt through defense cuts
- You do business in a state zip code that needs an economic push
- You are an export company with financial problems
- Your company employs disabled people
The application process for large and small business grants is similar to other types of grants. You must submit a detailed proposal that convinces the granting bureau that your company not only needs the money but deserves it as well.
There are then other documents that need to be submitted along with the business grant proposal that are unique to business grant applications. Most applications will require the preparation and submission of financial statements and permits, as well as character references that support the proposal.