How to Get a Small Business Grant
Receiving grant money for your small business can prove to be a challenging task, but it is not impossible. There are even certain circumstances that will increase your chances of being awarded funding, such as: Is your project/small business research based? Is it advantageous to your community? Is your business a not-for-profit organization? Other benefits include being a minority, woman, veteran, disabled or over the age of 65.
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Instructions
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Be sure to complete the application process by filling out an application, preparing a grant proposal and constructing a business plan. The proposal letter and business plan must be clear and well-defined, listing the budgeting for all proposed activities. Include in your proposal/business plan any past business experience you have. The main focus of the government is to enhance the overall economy for the greater good, so also list in your proposal/business plan how your small business will benefit the economy on the local or even national level.
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Research the supply and demand needs for your area.
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Make certain your business meets the size requirements set forth by the Small Business Administration (SBA). You may have to contact your local SBA for more information.
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Meet the aforementioned requirements, do your research (with the aid of the SBA, if necessary) and submit your application, proposal and business plan. All that's left is to patiently await your funding. An advisor will be assigned to your case. Maintain contact with this individual. Once you receive your grant money, you may use it for anything concerning your small business from covering the cost of supplies to utility bills or other overhead expenses.
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Tips & Warnings
Make sure your business plan shows projections for all aspects of your company for at least 5 years beyond the date of the grant application. This demonstrates that you have put research, thought, time and effort into your organization.
