Grants for Small Business Owners

Transcription

1 Grants for Small Business Owners Find the Funding You Need to Start or Grow Your Business By: FundingPost A Second Venture Company 2007 Second Venture Corporation. If you are interested in Purchasing the Entire 53-page book, PLUS the Bonus 5-page Grant Proposal Template for only $19.95, click here:

2 Table of Contents Chapter 1: Chapter 2: Chapter 3: Chapter 4: U.S. Grant Analysis What It Is, Who s Eligible, and How It Can Help Your Business Finding Federal Funding for Small Business Owners Blueprint to Securing a State-Level Grant for Your Business Needs Getting Private Foundations to Give You Grant Money Chapter 5: Funding for Special Business Owners Minorities, Women, Veterans, and Victims of Disaster Chapter 6: Chapter 7: Chapter 8: Appendix: The Grant-Writing Process Everything You Need to Assemble to Get a Yes to Your Request Tracking the Progress of Your Application After It s in the Mail Tools to Make Getting a Grant a Bit Easier Small Business Grant Proposal Template

3 Chapter 1: U.S. Grant Analysis What It Is, Who s Eligible, and How It Can Help Your Business When you want to start or grow your business, it s often hard, as an entrepreneur or small business owner, to get the funding necessary to evolve into something bigger. If you re unable to get a loan from a bank, your options aren t exhausted. What Is a Grant? Business owners can receive grants to help their company succeed, and this grant money doesn t have to be paid back like a loan does. The amount of money sitting unused for unclaimed grants is astonishing. A grant is a gift of money or a monetary award given to an organization or company to help them further their research or growth. The government and other organizations want to provide grants for business owners because it helps the overall economy. Small businesses generate job growth in a community and the taxes contribute, as well. States have allowances for millions of dollars worth of grants, but most businesses don t know how to claim the funds for themselves, so they struggle to stay afloat until their hard work eventually burns out and they re forced to abandon the business. You have a vision for your company, right? Your task with getting a grant is to clearly convey your vision to the pre-determined organizations that will give you money based on your grant request. Some business owners wait until it s almost too late to seek funding. They wait until there are fires to be put out until they re in a panic because they re losing money fast and need funding immediately. It s better if you can plan ahead for your needs and seek grant funding before you actually get your business off the ground. Some people have full-time careers where they do nothing but chase grant money. The grant itself is achieved by submitting a proposal to request, in writing, money for specific things you need funded. The biggest mistake most people make is in writing up a Please help me letter and sending it without any thought. The people doling out the money want to be sure they re giving to someone who cares enough about their business to research, organize, and plan out their request. Those

4 who get the most grant money don t fly by the seat of their pants they carefully plot out their needs and deliver one strong-hitting request after another. Who s Eligible for a Grant? Every state has different requirements, but the most important one is residency. Just being a citizen of a state and operating a business clears you of one eligibility requirement others may not have. You might even find, after reading this guide, that another state has a better opportunity for you, which means a relocation of your business could be a possibility if you re willing and able. And if you have some special needs for your business and can t find anything in your state to match it, you can notify your state legislatures and agency officials and they can determine if funding has to be allocated for your needs. You may even qualify for grants that are reserved for individuals who fit a certain demographic, such as minorities, women, or veterans of the armed forces. Grants are not just for non-profit organizations, as most people mistakenly believe there s something for everyone if you know where to find it. What Can Grant Money Do for Your Business? Almost all businesses have great start-up costs, so the government is aware that most people need financial help getting their company off the ground. But for politicians, it s in their best interest for you to succeed, because if you fail, it doesn t reflect well on them in regards to the economic status of the state. You can get money from the government for managing your business into a successful growth phase, and even for training your employees if you want to have a staff that includes more than just you as the business owner. Some states will pay half of the employee salary for the first six months, easing the cash strain for the small business owner long enough to start turning a profit. You can even get grant money to educate your employees under research and development funding opportunities. They understand that when you attract citizens with a higher education, it bolsters the economy even more. So you might be an entrepreneur who writes software scripts and wants to hire on a staff to launch an even bigger computer-related company. The government will pay for your staff to be trained at a state university. What do grants fund? They can fund a wide variety of things, including: Building renovations Equipment

5 Conferences and seminars Consulting Operating costs, including travel, utilities, and salaries Research Technical assistance Some states don t have specific funding for your business, but, instead, have experts who will help you find privatized funding at no cost to you. Many wealthy investors are seeking opportunities to help out new businesses. The Grant Funding Process It can intimidate a small business owner already plagued with to-do tasks to try to sit down, scour the multitude of opportunities for funding, and then create a viable request that gets a positive response. But as long as you follow a blueprint to getting a grant, you ll find it isn t as intimidating as it may seem. First you have to assess your needs. Don t go after money just because you have to let the funding representatives know why you need it and why you re eligible. Some business owners will find that they qualify for more than one area of grants. In this case, you ll want to seek funding for your most important needs first and then move on to other areas in whatever way you prioritize your list. There will be a bit of research involved and some crucial writing, but by using a blueprint, you ll have a solid guide to steer you in the right direction. Once your documents are polished, you ll be ready to submit them for funding requests. As the review process takes place, you may find yourself communicating back and forth with the funding teams. You never want to stop seeking grant funding, since new opportunities are literally announced every day. To get started, you re going to learn how to examine your company s strengths and weaknesses, discover what new opportunities await your business, and keep track of anything that could potentially derail your success. If you are interested in Purchasing the Entire 53-page book, PLUS the Bonus 5-page Grant Proposal Template for only $19.95, click here: