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Have you heard about small business grants? The present day recession has made many think seriously about launching a home business. The stumbling block in this line of thought is often lack of finance. Most small enterprises die before their second year is over due to shortage of funds. People literally “beg, borrow and steal” to launch their business and then realize that it is quite difficult to run a business on a shoestring budget, pay back the loans and hope for a reasonable surplus.

A Grant Is A Gift

In view of this background, small business grants are comparable to manna from Heaven. A grant is usually given by the Government through schemes which are meant to promote certain businesses, professions or industrialization (and development) of a region. Most people know about these grants but do not go for it because they are stopped by certain myths.

1. The eligibility criteria are too strict. The truth is that there are fixed eligibility criteria; also there are for scholarships, bank loans and mortgages, job vacancies and so on. Do you stop applying because they give you fixed criteria? On the contrary, you try very hard to establish a match between their requirements and your strengths so you would be chosen as the right candidate.

2. Too much paper work. The truth is that when you deal with the Government, everything has to be in black-and-white. Though it can be a little tedious, the effort is comparable to that of applying for entry into a leading college, or qualifying for a major scholarship. The competition is high, and the best is selected.

3. The follow up is not worth it. Of course, it is worth it. Whatever rate of interest you are offered you cannot match the fact that with a grant you do not need to return the money at all. The trouble you go through to get the grant is amply rewarded by the fact that you need not worry about repayment.

As you can see, small business grants are a boon for any budding entrepreneur. Go for it!

Author: Placida Acheru
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There is a lot of misinformation being spread around about the availability of grants for businesses–especially since the economic stimulus funds were announced in February, 2009. Perception is not reality though and the truth is that there is not an abundance of “free government money” available to small businesses just for the asking. 

You’ve probably heard or seen the advertisements and websites that that claim that they can show you how to tap into hundreds of millions of dollars in grants to start or expand a business that the U.S. government “gives” away each year. Despite what these people would have you believe, the government isn’t just “giving away” money to small businesses. There are however, lots of opportunities for small businesses to connect with Federal dollars. First though, you need to understand a few things. Here are the facts about business grants: 

1. Nearly all federal grants–even stimulus grants–go to states, local government agencies, schools or universities and qualified nonprofit organizations. Most Federal grants given to businesses are for specific purposes relating to the development of advanced technologies and renewable energy development.

2. Every federal grant program is for a specific purpose, has required activities and requires that the recipient account for every dollar. If the specified activities aren’t carried out or the money isn’t accounted for properly, there are very serious consequences.

3. All of the “secret” information that people will try to sell you is available for free at your local library or on the Internet. 

What the Federal Trade Commission (FTC) says:   

4. Don’t ever pay any money for a “free” government grant. It’s not free if you have to pay for it. Government agencies would never ask you to pay a processing fee for a grant that you have already been awarded – or to pay for a list of grant-making institutions. The names of agencies and foundations that award grants are available for free at any public library or on the Internet. The only official access point for all federal grant-making agencies is www.grants.gov

5. Never give your bank account information to someone you do not know. Scammers pressure people to divulge their bank account information so that they can steal the money in the account. Always keep your bank account information confidential. Don’t share it unless you are familiar with the company and know why the information is necessary.

6. Look-alikes aren’t the real thing. Just because the caller says he’s from the “Federal Grants Administration” or something similar, it doesn’t mean that he is. There is no such government agency. Take a moment to check the blue pages in your telephone directory to bear out your hunch – or not. 

7. File a complaint with the FTC. If you think you may have been a victim of a government grant scam, file a complaint with the FTC online on their website (www.ftc.gov) or call 1-877-382-4357. 

If you are interested in learning about legitimate sources for business grant information, a good place to start is with your local Small Business Administration (SBA) office. The SBA does not offer business grants but they can help you connect with the proper resources for uncovering local, state and Federal business grant opportunities and they also may be able to guide you in the proper direction if you’re interested in pursuing cooperative agreements or contracting opportunities with the Federal government. 

Alternatively, you can also work with a professional business grants consultant. These are persons who are skilled in navigating the Federal maze and can help your business connect with local, state and Federal dollars. Before hiring a business grant writer, check them out and make sure you’re dealing with a professional who knows what he or she is doing and has a track record of success.

Author: R. Flavin
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Business grants are sums of money that are given to individuals or organisations for a stated purpose; they are used for a specific purpose or business activity. Some grants are linked to specific geographical areas and those in need of economic regeneration. In cases such as these the areas have more business grants available to them.

Business grants are a really competitive area and you need to do everything in your power to ensure that you give yourself the best chance of being successful in gaining one. An example of how this can be achieved is by talking to an advisor. An advisor for a business grant can check your suitability for a grant and can advise you on other aspects that will increase your chance of being success in gaining one.

With all grants, regardless of who awards it to you there are strict terms and conditions that need to be followed. If you don’t stick to these terms and conditions you are risking your business grant. This is because your business grant is a sum of money that never has to be repaid; however if you use your business grant to pay for aspects that have nothing to do with your proposed business project you will have to pay back the grant in full with added interest.

Grants only cover an aspect of the money and you supply the rest. Before your business grant will be awarded to you it is essential that you demonstrate how your business can provide the other half of the money needed to make your business idea or proposed plan work.

As previously mentioned, applications for these grants are high and the competition to get one is fierce, which is why you need to be aware of some of the factors that can affect your application. These factors are:

Location of your business – some areas get extra grants due to aspects such as social deprivation or high unemployment

Size of business – the size of your business is measured either by your turnover or the number of employers that you have, typically 250 or less

Industry Sector – can be limited and subject to restrictions in certain sectors, which are defined by the European Commission

Purpose of the grant – such as if you need to buy machinery, improve your offices, increase employment or to develop export markets

If you are successful in your application for a business grant, the body awarding your grant will expect a high level of commitment from you and your business and your project has to be commercially viable.

When it comes to government grants, which is just one of the many awarding bodies, you will get support to business in both a financial form as well as providing access to networks of expert advice and information.

If you are hoping to gain a business grant from one of the many awarding bodies you should speak to a business advisor who will be able to evaluate your application and provide you with advice about what would make the application have a more likelihood of success.

Author: Helen Cox
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Business grants exist to help businesses develop. They are available from a number of different sources such as the Government, European Union, Regional Development Agencies, Business Link, local authorities and some charitable organisations.

Many business grants are however limited to small or medium sized enterprises, for example, if a business has fewer than 250 employees. These grants can be approved based on situations such as specific geographical areas, i.e. those in need of economic regeneration or in other cases they can be granted due to factors such as your business activity or your business sector.

England, Wales and Scotland each have their own range of grants available. The amount of money put aside for these business grants can also vary. For example an area with social deprivation or high unemployment may have more money available for grants than others.

Grants however may be and most generally are subject to restrictions in certain sectors, these restrictions are defined by the European Commission. All applications will be closely inspected by the European Commission. It should also be noted that grant bodies prefer to see specific targets and results, which are often compatible with their own objectives.

Additionally, you should ensure:

You are ready to put up some of your own money

You need the money for a specific purpose

You haven’t already started the project before you get an agreement in principle of funding

Grants are normally awarded for specific purposes such as the purchasing of machinery, improving offices and increasing employment as well as developing export markets. Whilst deciding whether or not to award you with a grant the awarding body will expect a high level of commitment from you and your business.

Applying for a business grant is highly competitive meaning you have to really prove why your business idea. If you are turned down for a business grant you shouldn’t take it as too much of a disappointment in the respect that you should take on board the reasons why you were turned down. Some of the main reasons as to why business grants are turned down include:

Your work isn’t relevant to the body who is awarding the grant

Statements made are not backed up by facts

Research plan is unfocused

You are unable to prove you can match your funds

Your need for a business grant isn’t proven

Information in your application is not up-to-date

These are merely just a few reasons as to why your application for a business grant might be turned down. To give your business the best possible chance at securing a business grant you need to ensure that you provide the following to the organisation that is awarding your grant:

A detailed and descriptive project of the reason you wish to apply for a business grant

Explain the potential benefits of your proposed project

A detailed plan that contains information about the total cost of your proposed project

Details of your own experience and that of any other key managers

Completed application forms where stipulated

A possible business plan

You need to have every aspect of your business detailed and documented before you continue and apply for your business grant.

Author: Helen Cox
Article Source: EzineArticles.com
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“Deal or no Deal?” – Catchphrase question asked by Howie Mandel to contestants on “Deal or no Deal”.

When the banker makes an offer on “Deal or no Deal,” it’s usually not one that benefits a contestant. But a small business grant is a deal that can benefit a business owner.

Unlike a business loan, that must be repaid, a grant is a gift. The translation is that it’s truly a gift, with no strings or future obligations attached. It doesn’t matter if a business already exists or is still in the planning stages, businesses are eligible to obtain such a grant under both scenarios.

Numerous government agencies, non-profits and other organizations can be found that are eager to award money to small businesses. Why? Because giving grant money not only helps a business with revenues but also improves the community they serve through increased buying which benefits the economy.

Many hours can be involved in trying to find government grants. Most state and provinces provide detailed information about applying on the Internet sites of their economic development offices. Someone searching for a business grant may also find what they are looking for on other organization Internet sites. But the key to success is finding an organization that specializes in such grants, as opposed to those for other business pursuits.

The outlook for obtaining a grant to start a small business is even better for women and other minorities because government bodies enjoy promoting business ownership by those groups. Obtaining this type of grant money may also be easier for someone wanting to open a business in an area that is economically deprived. Other groups for which a start-up money may be targeted toward include:

• Individuals with disabilities
• Native Americans
• Veterans

A small business grant, like any other grant is awarded after applying and approval by the municipality or organization which awards the grant. But requesting government money isn’t about simply picking up a telephone and making the request.

The awarding of a government grant is followed by a small business owner submitting a detailed business plan. The plan should specifically identify how the money will be spent. A review of the request will most likely be looked on even more favorably if the business owner can identify how the small business will benefit the community in which it will be located.

A request for a grant money takes more than just writing a brief letter. The request should be detailed. Because applying for grants is also a talent, many companies and non-profits hire individuals to perform such tasks. Help in writing a government grant request can be found through a service for professionals who offer the service, along with employment classifieds in newspapers.

Beyond a doubt, “free” money from the government is a deal small business owners should not pass on. With no risks or obligations and a guarantee of helping a business, the only response when it comes to a small business grant is “Deal!”

Author: Alex Tran
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In business we all sometimes need that extra little bit of cash to get certain business ideas off the ground. There are many ways in which you are able to gain extra business finance such as loans, overdrafts, credit cards or through private investors such as business angels; however what do all of these have in common? They all have to be repaid in one form or another but with a business grant it’s another story.

Business grants are a sum of money that is awarded to your company for a very specific purpose or project. This money means that you can undertake the changes that you want to make to your business without having any debts at the end of it; sounds too good to be true? Well let me assure you this is completely genuine but like all things that seem too good to be true there are a few catches. You are only awarded between 15% and 50% of the total money that you need to carry out your project; the rest of the money needed has to come from you. The percentage of the total cost that you will be awarded depends on how much money you need for your purpose or project.

There are many ways in which you can obtain a grant some of the main ones are as follows:

The government

The European Union

Regional Development Agencies in England, Scottish Enterprise, the Welsh Development Agency and Invest Northern Ireland

Local authorities or local councils and local development agencies

Chambers of Commerce

County Enterprise Boards

The main type of business grants that are available are government grants and the reason that they came about was as a way of encouraging entrepreneurialism and innovation, which will translate into opening up more jobs within the business and adding value to the business, which is done mainly through the businesses profits.

Some of the reasons as to why you may be awarded a grant are for the purchasing of machinery, to improve office conditions, increase employment and developing export markets. Everything that it will be awarded for comes down to the idea of helping you to develop your business.

To be in with a chance of receiving a business grant you need to make sure that you meet the conditions set out by the grant. These conditions are that you have to have the rest of the money for your specific project or purpose ready and the project can’t have already been started. These are strict terms and conditions that apply to all grants. If these aren’t followed, immediate repayment of the grant can be required. However, generally you do not have to repay grants or interest on them unless you break the conditions.

Applying for grants can be time-consuming. You will generally be required to submit your business plan, as well as completing the specific paperwork for the scheme. Once your application has been made it will enter the reviewing stage where your application and proposal will be assessed using the following criteria:

Significance

Approach

Innovation

Their assessment of your expertise

Need for the grant

There aren’t many grants available, which means that competition for them is high so if you aren’t successful this time then I advise you to take on board the reasons as to why your application was turned down so that you can work on these points and apply again.

Author: Carolyn Clayton
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Where, oh where, has that business grant gone? Everyone talks about them. Few seem able to actually find them.

Some, in fact, claim that business grants are everywhere; some claim they are as rare as a trout tooth. The truth, dear Watson, lies somewhere in between.

“Business grants are there for the asking!”

If you have done so much as a single search for “business grants”, you have most certainly discovered those web sites that proclaim, “They’re here — in my directory. Satisfaction guaranteed, m’am.”

Yeesh. I can hear the carnival hawker in the echo.

And it’s not just one site that makes such claims. No, hundreds of sites that make this claim. One gives your money back if you send in a reject letter from an agency you applied to; another says you are buying “soft goods” that can’t be returned. No matter. It’s all the same pitch.

“Good luck, Buddy. Business grants just aren’t there!”

When I found one site that claimed that business grants are a fantasy, it was actually a relief. Wow, an honest person.

Well, this person may have been honest, but she hasn’t done her homework.

“There are business grants to be had.” (This is my voice)

They are not growing on trees, but they are there. Consider, for instance, these scenarios:

Scenario No. 1 — Local Interest Grants

An experienced pre-school teacher sees a tremendous need to provide pre-school care for children in a low income area so their parents can go to work in a new plant being built nearby. Where can she go to get a grant to start her business?

Answer: The U.S. Dept. of Education is a good bet. The local county or state government might have money available, too. Even the new company being built might chip in with space and supplies. (If the pre-school expands, and becomes very successful, and even lucrative, it can still open more branches, franchise, or expand. In short, it, too, can still be profitable.)

Scenario No. 2 — Scientific Grants

A brilliant scientist wants to team up with a university, use their Ph.D. fellows to do research, and pin down the gene for one particular type of cancer. She has good credentials and high hopes. Where can she get a grant to start her company?

Answer: The U.S. National Science Foundation may indeed have something. (If the company proceeds to make this discovery, it is still able to sell stock, take in investors, or sell the patents. In short, it can still be profitable.)

Scenario No. 3 — Emergency Grants

A second generation Indonesian entrepreneur sees the devastation in her homeland caused by a tsunami. With her business contacts and experience, she knows she can help re-build her country. Where does she go for a grant?

Answer: USAID probably has $20 million or so on hand for just such a project. In fact, as I write this, that is exactly the situation. (This is not a “profit making” venture. However, somewhere in the $20 million grant, she will of course pay herself, and will be able to lay a strong foundation for a future business.)

So, Can I Reach Out And Pick One Off A Tree?

Are these three examples just aberrations? Emphatically, NO — there are thousands and thousands more where these came from. It’s all a matter of knowing where to look.

And it is a matter of being creative. Rarely can a person simply raise her hand, say, “Here I am, ready to take your money!” The bigger the grant, the more creative the approach needs to be, and the more experience the businessperson needs to have. But the money is there, waiting for creative, experienced entrepreneurs to claim it.

Author: MaryAnn Shank
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Women and minority Americans have an opportunity to obtain thousands of dollars in small business grants, which is free money that never has to be repaid. The media spent a lot of time discussing the mortgage and bailout grants that have been made available to the American people. What they haven’t discussed is the billions of dollars that are also available to small business owners, including women and minority entrepreneurs.

The government provides free grant money for personal use for one reason. To stimulate the economy and keep American running properly. One way to do that is to help people facing foreclosure, debt and other financial hardships. But the other way is to help those who can change the current environment and push America forward. The small business owners have the ability to do this, and the government is very interested in these groups.

Unfortunately, with the credit markets tightening and banks being unable to lend, small business owners are not able to start new businesses or grow their existing ones. That’s why the government provides small business grants to people who would otherwise be able to build successful businesses, but are strapped for cash.

There is billions of dollars available, and as long as you are at least 18 years old, you can apply for these funds. All you need is access to the free grant applications and an idea for a business. There are grants for as much as $50,000 to help people fund home based businesses, buy real estate, pay employees, and even buy new office computers and furniture. The money is there but you have to ask for it.

Author: Melissa Sabella
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Did you know that there are grant programs specifically for women and minority owned businesses? Even if you just have a business idea, you can receive free money from the government and other organizations that focus on helping women and minorities succeed.

The best part about these programs is that this is free money that you never have to pay back, and small business grants are some of the largest grant checks being sent out. Millions of Americans are claiming checks for as much as $200,000 for their business. While that amount of money is tougher to receive, it is not uncommon to get a check for $50,000 or more.

Once obtained, you can use these funds any way you like as long as it is within the limits of the grant term. It may be used to buy new computer and office equipment, furniture, to rent office space, or to help develop prototypes of your product or invention.

Unlike small business loans, if your venture fails you still don’t have to pay back the money. The government knows it’s taking a risk but must move forward with helping minorities and women succeed in the business world.

Many of the government grants that are available can be received over and over again. In other words, once approved, you can expect to obtain these funds year after year. Imagine getting a check in the mail for $20,000 every year just because you asked for it.

To claim some of these funds, just look over the hundreds of grant programs that are offering free money today. Select the ones that you qualify for and ask for the money by submitting an application. You could receive a check or have the funds directly deposited to your account in as little as 7 days.

Author: Melissa Sabella
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Many people miss out the golden opportunity on the option of grants as they have the notion of that the grants are only for students. The most suitable advantage for grants is that you won’t have to pay the amount back as in case of loans. So why not take the advantage of grants instead of running after the banks for short-term or long-term loans.

Conditions for Small Business Grants for Women

There is a very good opportunity for women who are interested in business works. A business is said to be owned by a woman if she is holding a share of 51% or more than that in any business or a business going to bring into being. In such a case women are entitled to get different kinds of business grants.

Benefits of Small Business Grants for Women

The hugest benefit of grants is that you don’t need to repay the grant taken for business. So why think about the heavy bank loans where you have the tension of repaying the loan in time with interest. Here you will find many enthusiastic sponsors who can provide you the fund for the successful establishment of the business. Here you are relieved of the constant worry of paying back the investors.

Instead of those worries you can feel free to concentrate on the functioning of the business so that it can flourish in a proper way. These benefits are encouraging to get the women for their skates on the development of business more and more every year. This is the reason why almost 75% or even more of the women are becoming successful with their business enterprise than men are.

Then there is also the factor that for the availability of the grants in so much vast number women are getting the increased resource to start and make their business successful. Such business are getting the back up of tax policies, free help for the plan of the business and the small business grants are also helping in addition to those.

Easy steps for achieving small business grants for women

Once you have decided to set up the business or become part of it better go for grants instead of the loans. The grants can be utilized in proper way. But make some strategies before applying for the grants. You have to first craft a feasible and practicable company plan. Subsequently find the grant organization which will suit you the most.

There are lots of centers including government grants so you must do proper research work regarding the organizations. For finding the organizations internet is the best resource. So thoroughly do your researches in the websites. And you must take into service a specialized lawyer or accountant who has experience in the field for many years.

Author: Brian I Park
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