Government Grants for Small Businesses
According to the U.S Department of Heath and Human Services, government grants are typically awarded to organizations and businesses to carry out a public purpose. The government offers various types of grants for small businessses. If a small business is eligible to receive a particular grant, applicants can apply through the government grants website.
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Misconceptions
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We have all seen the infomercials that advertise "free money" from the government in the form of grants. These advertisements are not false, just misleading. The government awards billions of dollars in grant money per year. However, a business has to meet the criteria set forth by the government agency offering the grant opportunity. Each government agency will give a full description of the grant opportunity as well as who is eligible to receive the award.
Federal Agencies
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There are 26 federal agencies that can offer small business grants: Agency for International Development, Corporation for National and Community Service, Department of Agriculture, Department of Commerce, Department of Defense, Department of Education, Department of Energy, Department of Health and Human Services, Department of Homeland Security, Department of Housing and Urban Development, Department of the Interior, Department of Justice, Department of Labor, Department of State, Department of Transportation, Department of the Treasury, Department of Veterans Affairs, Environmental Protection Agency, Institute of Museum and Library Services, National Aeronautics and Space Administration, National Archives and Records Administration, National Endowment for the Arts, National Endowment for the Humanities, National Science Foundation, Small Business Administration and Social Security Administration. You can choose an agency that deals with the type of product or service your business offers.
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Considerations
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Government grants are not always offered to small businesses. Grants are normally offered to a small business when there is a need for the type of service the business offers. For example, a state can issue grants to child-care businesses operating an after-school program in low-income areas if there is a need for such programs.
Applying
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Visit the official site for government grants. Registration is a one-time free process. Once registered, you will have full access to opportunities. After selecting a grant, download the application package. You can complete and submit your application online. You may also track your application through your registered account.
Tips
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Due to the fact that you are not required to repay grant money, the selection process is very competitive. Applying for a grant is simple: getting the grant is the challenging part. Before you submit your application for a government grant, spend time proofreading and enhancing your business plan and grant proposal.
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References
Resources
- Photo Credit Image by Flickr.com, courtesy of borman818
