Federal & State Grants for New Businesses & Women
Governments give grants to start-ups and women to support economic development and community wealth. Typical grants are given to a middle agent who then aids a business. Specific programs directly support entrepreneurial enterprise and innovation.
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Secondhand Support
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The main federal and state grant programs give aid to government, nonprofit or private organizations that demonstrate the commitment to larger economic interests, expertise with business money and proven record to convince a granter they can make secure investments in businesses. New businesses and women can apply to these expert funders for grants, management counseling or technical assistance.
Specific Programs
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Less common government grant programs directly fund new businesses and women who are likely to have a business that produces entrepreneurial growth, job creation, labor improvement or technological innovation.
After a business applies to the federal government, model funds are directly granted to the business. A funded business adds value to agricultural products or increases the commercial use of new technology. Missouri, for example, has seed grants for new enterprises and a state value-added grant program for agricultural producers. California has technological-innovation programs that encourage research and development in fields such as space enterprise.
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Economic Development
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Most federal and state funds are dedicated to economic development in markets that lack funding. The U.S. Department of Commerce's Economic Development Assistance Program provides grants to organizations assisting new businesses, including those owned by women, that will benefit areas with above-average unemployment and prevalent low income. Dedicated to increasing small enterprise in the same communities, the Small Business Administration's Microenterprise Development Grants program funds organizations that offer training and technical assistance to disadvantaged entrepreneurs and microenterprises. In distressed communities, entrepreneurs can apply for funding from state and local government agencies and community organizations.
Business Centers
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Both the federal government and state governments run prominent business center systems. The U.S. SBA's Small Business Development Center program funds educational institutions that provide management counseling and technical assistance to entrepreneurs, women included. A program dedicated to women, Women's Business Ownership Assistance, offers grants to private nonprofit organizations that establish Women's Business Centers to provide training and counseling to women entrepreneurs.
Opportunity
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Lifting the wage standard for low-income communities is one reason the federal Minority Business Opportunity program funds government programs designed to engage minority entrepreneurs in the business community so they associate with the decision makers in government and business.
Capital
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The SBA's New Markets Venture Capital Program supports equity capital investment in new enterprises in disadvantaged communities.
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