Grants for Disabled Small Business Owners
Disabled individuals are starting businesses at a record rate. According to the U.S. Department of Labor's Office of Disability Employment Policy, since 1997, people with disabilities have a higher rate of self--employment and small business experience (14.2 percent) than non-disabled people (7.8 percent). Although there are no direct grants to disabled entrepreneurs, there are several avenues through private and government initiatives that can benefit the disabled entrepreneur.
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Small Business Administration
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If you are a service disabled veteran, the General Service Administration has designated business opportunities for you as a disabled veteran business. According to the Small Business Administration, if you are a disabled veteran with at least 51 percent ownership of stock, you have first priority in obtaining procurement contracts through their procurement system. You can contact the SBA office in your area and ask this business designation for disabled veterans.
Private Grants
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Grants from private foundations barely exist but there are corporate associations that may donate assets to certified community nonprofit organizations. These resources are for materials such as, books or equipment. Through this avenue you may be able to obtain equipment to run your business free or at a discounted price. TechSoup.org is a great resource for start-up or existing disabled entrepreneurs who need software or equipment to start or run a business.
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Vocational Rehabilitation
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State vocational rehabilitation programs were created to assist the disabled in obtaining education, skills and resources to join the workforce. Most states have added business development courses to help disabled individuals that have a desire to start a business. Each state has a vocational rehabilitative representative that works with qualified individuals with disabilities. To find out more about this program, you should call your state Department of Health and Human Services office.
Microloans
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There are various opportunities by using an existing microloan programs funded by the federal and state government. Grant funds are used to fund certified non-profits, banks and local municipalities to create microloan programs and business development initiatives. These initiatives provide free training or training at discounted services to assist new and existing business owners and provide the potential for business funding . Information on microloan initiatives can be obtained by contacting your local or state Chamber of Commerce.
Scams
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There are companies and individuals that promise that they can find you grant money directly from the federal government or a private source if you pay them a certain amount of money. Use caution! There is no such thing as direct funding from a government or non-government source to individuals. Do your homework and check with organizations that have programs in the area of business for disabled people.
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- Photo Credit Image by Flickr.com, courtesy of Daniel Lobo
