Everyone tells that when you start up your own business, expenses will always come expected or unexpected. Most of the time, putting up your own business entails to an immense deal of money. You can have an array of sources for your capital to start a business but it can consume too much time and can be very difficult if you are not sure about the required funds for your own enterprise or business. Well, don’t worry too much because the Government of United States and other private institutions are giving away hundreds of million dollars each year in the form of business government grants that can aid proprietors and companies to begin their own enterprise, increase their market and stay optimistic amidst all trials in your business.
When you encounter economic crisis, the final thing that national government wants to witness is a business that is collapsing or what we called bankruptcy. When there’s an economic depletion, domino effect occurs, people will loss their jobs, consumer will spend less, and economy will diminish. Grants become the main target in future for entrepreneurs, new enterprises, and businesses that are already settled. Last year itself, $34.08 billion in grants was provided by the government to provide businesses their profit. From this budget, $101 million dollars proceed to small business ventures. Through this opportunity, companies start up, job opportunity increase; offices can start renovation and upgrade their system.
Each year, business grants are made available by the federal or state government. The amount that you can receive will fall from $1,000 up to $1,000,000 which will depend on your necessity or the reason why you want to have a business grant. If you have the best idea yet you can’t make your plans in reality because you don’t have enough funds to start your business, then a business grant is really meant for you and your business. Through the money that you will get, you will be able to reconstruct your office and upgrade your software system for better use.
Non-profit institutions can also take advantage business grants. Because of the fact that non-profit institutions are giving voluntary and public services to serve other people yet they don’t have their own source of capital, the national government is willing to support these non-profit orgs with their expenses. In year 2008, $20.73 billion is the total amount that was given by US government for non-profit organization all across the country.
You have to bear in mind that every individual and businesses can be qualified for precise business grants depending on gender, ethnicity, disabilities and race. The government learned that it is really significant to aid more businesses because it also motivates and develop our economy than it was before. To bring back the economy on its own feet, you have to grab these opportunities.
Here are some of the qualifications that your business can take advantage business grant:
- Newly set up business
- The business is sited in a diminutive area
- Owned by minority or women
- The zip code of your business location entails economic drive
- Your company is facing financial depletion
- You employ physically challenged people
How to apply for business grant? Well, that’s easy. Applying for business grant is less complicated than other variety of grant. You have to convince the bureau that will grant your business proposal that your company or business needs the additional funds as well as let them see that you deserve to obtain a grant. You will also ask to present permits and financial statements and character references to help you with your proposal. Important documents must be submitted together with the application for the business grant.