Businesses are often faced with the ordeal of securing fund to stay operative. Raising fund from the market can be an expensive affair. Loans can be expensive. Businesses therefore are required to look for business grants.
Government grants are given to small and medium sized businesses based on criteria. But often businesses don’t know how and where to look for the government money. This article would help you find Government grants that can help you turn your dream of becoming an entrepreneur into reality.
Tips to find business grants
There is a recent trend to encourage more small and medium businesses instead of large enterprises. But the small entrepreneurs businesses are often faced with dearth of fund. The Government has therefore come forth to help the entrepreneurs with great and economically viable start up ideas.
Before you start hunting for business grants you may however draw up a foolproof business plan to present it before the grant authority. The government office will go through the business proposal very carefully. The percentage of business proposals getting approved for government grants are really low compared to the total number of proposals get submitted to the offices. Hence, to avoid disappointment you may research well before submitting your proposal to the officials. One can also benefit from the mentoring of pundits like Matthew Lesko to get Government grants.
Search online: You can search online for grants. There are sites with information on Government grants and other grants available. You can search for both the local grant agencies and the Federal grant agencies for information.
Local office: You can check with the local administrative offices for various grants. Many a times the local government too gives out money to encourage local businesses to create employment and revenue but these grants are often not publicized.
Federal government loan: The Federal Government also fund many causes. You may check if you qualify for a Federal grant.
Private organization grants: There are many private organizations too offering grants to new start-ups. These organizations often also extend infrastructural and technological supports to their partners. But before you associate yourself with any such grant proposals; you may however confirm its legitimacy.
Fill-in the form: To receive government grants you would be required to fill-in the form with utmost care. Your form will go through severe scrutiny and hence all your Is should be dotted and T’s crossed. Most of the grants proposals get rejected because of improperly filled forms.
Follow-ups: Remember to follow-up occasionally with the officials. It may payoff to build a rapport with the grant official so that you can get the updates on time. Goverment grants may take a long time to get processed and hence you need to be patient. But at any case you mustn’t abandon your case.
Remember that Government grants don’t mean free money rather you’d be required to submit a report of your performance to keep receiving the grant. But the cost of grants is really less than raising money in the open market where the interest rate can be enormous. There are now agencies too who can mentor you to get Government grants for your businesses.
http://www.mlesko.net
M. Lambard is an expert in grants. For over a decade now he has been advising people, who are in look out for Goverment grants, in securing one. He is fond of writing articles and is an active writer online.