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April 25, 2024

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Maximizing Your Business Potential

Small Business Grants – How to Get Free Government Grants and Money For Business Start-Ups?

The Obama Stimulus Package 2009 has various schemes for different sections of the society. One of them is the small business grants that the Federal Government is offering. How to get the money for start ups? Are there any eligibility conditions for availing small business grants?

Here is a detailed description of these grants provided by the government…

Small Business Grants

The government offers some financial aid to the small businesses or funds your business plan if it is worth it. These grants are not provided to expand or start any business. They are available only to the non commercial organizations like the non profits & educational institutions. The grant programs are usually offered for the fields of medicine, education or research.

These grants are not available directly from the Federal Government. There are various state development agencies that offer this financial help to you on behalf of the government. There are specific conditions set by the Stimulus Package that determines your eligibility to avail the money for start-ups.

There are various sources that would help you gather information about these small business grants but the best one is the Catalog of Federal domestic assistance (CFDA). It lists all the privileges offered by the government.

How To Get Free Government Grants And Money For Business start-ups?

o First of all check the eligibility criteria and if you meet them then apply through a written application that must include the complete and accurate details.

o Try to gather information about your grant officer & their constraints. Proper knowledge about the budget would also help you in getting your application approved.

o You must have a well prepared business plan if needed.

o You may seek help from some accountant or consultant in order to add credibility.

o Be regular in dealing with the officials. You must be prompt enough to respond to all the proceedings.