Every entrepreneur knows that it takes money to make money. But what happens if you do not have the funds you need to start a business? Your dream will be just a dream. Fortunately, if you are an entrepreneur who needs money to start a business or to expand your existing business, you need to know more about the small business grants.
Many states, including Massachusetts, offer grants for small business, which provide business owners the opportunity to start or improve their businesses. There is also financial help in the form of loans for small businesses. It requires relatively little effort to apply for small business grants in Massachusetts, and the gain can mean the difference between failure and success.
How to get grants in Massachusetts
If you look for information about starting a business in Massachusetts, visit www.msbdc.org to learn more about business development, funding, marketing strategies, organizational and personnel issues. The Massachusetts Small Business Development Center Network (MSBDCN) will help you to find Massachusetts small business grants and to prepare a business proposal. This is a good source of upcoming trainings on entrepreneurship, team-building, business strategy and so on.
How to create an acceptable business plan
When you apply for small business grants, the first step you should take is to create an acceptable business plan. A proposal is made up of several sections. There should be a formal letter introducing this proposal. The standard application form must be attached to your proposal. And the most important part of your paper application is the body of your proposal describing the details of your project. In the body of the proposal, the most critical section is a summary of the budget. When you ask grants for small business, the committee will go directly to the budget section.
Open Date Massachusetts Small Business Grants Proposals:
Agricultural Marketing Assistance Organic Certification Cost Share Program
Date for applicants: Jan 28, 2014 – Feb 15, 2016
Estimated Total Program Funding: $1,425,000
Expected Number of Awards: 16
Category of Funding Activity: Agriculture
Agency Name: Agricultural Marketing Service
Contact Person: Patricia Atkins 202 720-3252
C4ISR and Information Dominance Research
Malawi Local Capacity Development Initiative
Date for applicants: Oct 10, 2013 – Apr 26, 2015
Estimated Total Program Funding: $20,500,000
Award Ceiling: $1,500,000
Expected Number of Awards: 6
Category of Funding Activity: Agriculture, Education
Agency Name: Malawi USAID-Lilongwe
Contact Person: Joseph Tembo 265177245
REGION 7 SPORT FISH RESTORATION GRANT PROGRAM
Date for applicants: Feb 14, 2014 – Aug 31, 2015
Estimated Total Program Funding: $7,000,000
Category of Funding Activity: Environment, Natural Resources
Agency Name: Fish and Wildlife Service
Contact Person: Tarajoy Mihan 907-786-3698
Budget is the key factor
This means that you must do your best to create a budget for your business plan. In most cases, the budget will make or break your approval for small business grants. If you create a budget full of inconsistencies and unsupported data, then your small business grant proposal will be declined. On the other hand, if you create a realistic budget that is supported by credible data and carefully organized for easy reading, then your chances of getting grants would be higher too. Thus, when you create a proposal for grants for business, take the time to write your budget, review and proofread it to ensure you have high chances.
A budget for a proposed project consists mainly of data, figures and graphs. The problem is that a page with numbers will be difficult to understand. The committee may not have the time to look at all the indicators to see the merits of your budget. So it is better not to stuff the budget section with pure numbers and figures. What you need to do is to organize data into easy to understand charts and graphs.
Getting grants for business would be easier if you know how to prepare the business proposal correctly.
Guide and advice for your small business in Massachusetts
U.S. Small Business Administration
10 Causeway St, Boston, MA
(617) 565-5590 · sba.gov
US Small Business Administration
1441 Main St #450, Springfield, MA
(413) 785-0268 · sba.gov
Massachusetts Small Business Development Center
University of Massachusetts, 227 Isenberg School of Management, Amherst, MA
(413) 545-6301 · msbdc.org
Small Business Services Bureau Inc
544 Main St, Worcester, MA
(508) 756-3513 · sbsb.com
Small Business Development Center
200 Pocasset St, Fall River, MA
(508) 673-9783 · msbdc.org
Agawam Small Business Center
36 Main St, Agawam, MA
(413) 786-0172 · asbac.net
Small Business Exchange Ltd
72 Taunton St, Plainville, MA
(508) 695-1800 · smallbusinessexchange.com