Today, I want to tell you how to get grants for small businesses. You would be shocked at how easy it is to actually obtain small business grant. I am not going to tell you that everyone is approved or that the application process is quick. Instead, my goal is to tell you what you can expect you go about applying for one.
Why Would the Government Offer You a Small Grant?
First off, you should have a good understanding of how grants work and why the government would ever provide one to you. I think the easiest way to see it is looking at the current state of our economy. Right now all across the United States there are small business owners struggling because their overhead has increased but people are not buying things like they were ten years ago. Right now with unemployment rates skyrocketing people are just buying the necessities and sometimes doing without some of those everyday things that some of us might consider necessities. However, let’s say that you own a small air conditioning servicing company. Your business matters because you probably employee 3-4 other contractors. The taxes your company pays helps sustain the local and federal governments. If your company can stay afloat or if you are just starting it, then they know you will keep several people employeed and in the long run this is a good thing for not only your pocket book, but the pocket book of the government as they continue to try to feed those that are unemployed.
Application Process – How to Get Grants for Small Business
Unfortunately it would be great if the government had the money to throw at every small business owner without risk of financial ruin at the government level. That is simply not realistic. Therefore, the government actually takes applications for grants and is forced to approve those that are realistic and have a good business model.
For this reason, you should start out by working towards putting your business plan on paper. Take a look at where you are at; where you want to go, and how do you get there. This is considered a business plan and it does not have to be anymore complicated than that. However, you should keep in mind that you could potentially be speaking to someone who does not really have a desire to help you. So in essence, it should be written and worded in a way that is selling your business and encouraging them to invest into your company. Talk about demographics, how the money will be used, where it will go, how it will help your company succeed, and why you are confident that it will. They want to hear this from you.
Lastly, be prepared to give an answer for the money you receive. The government is notorious for coming back and wanting to see on paper how the money was invested. For this reason, never accept federal grant money unless you are ensure that you need and that it will be invested in those areas you have stated in your application process. It is typically in written form that the government will check up on the status of your business one to three years after receiving the grant from the federal government. Having good record keeping qualities will be important. They want to know while you are searching for how to get grants for small business that they are wondering how to get their money to be well invested in businesses that can realistically succeed.