If you have come up with a new idea or just want to finally start that business of your own, finding the capital you need to get started may be the thing getting in your way. It is no secret that many new business ventures fail because of insufficient starting capital. Well, you will be pleased to know that there is help available for startup businesses. In order to support the development of new business, the government and various organizations offer grants to new or expanding businesses. While this may sound very generous, it only makes sense since it is in the best interest of the country, and other businesses as well, to encourage new enterprises by investing new venture capital; thus giving life to the dreams of entrepreneurs and continuing to promote advancement in business and technology.
However, there is a misconception about federal government grants for business. US government agencies do not give grant money directly to businesses and individuals for startup. That being said, the government does routinely give out grant money?to states and local communities. The state and community projects, funded by the federal grant funds, can mean money to your business, in the way of contracts and sub-contracts.
The government knows that the most affordable way to create more jobs is to create a climate where small businesses can access money to grow and thrive. If you are a woman owned company, then you are in luck. Many state, and local governments all have programs available that provide small business grants for women who own either part or the whole of their business.
Provide financial history: You have to be able to provide a list of all other grants you have received in the past, if there are any. It is more likely for you to be approved if it is your first time. You also have to be able to provide your financial records, whether you are employed or not and your primary source of income. Most institutions prefer to give grants to those who don?t have other sources of income, as they prioritize those who really need financial support to open up a business.
Your chances of getting a business grant is higher if you would be able to provide recommendations either from your community, past clients or past employers. This is to ensure that you are capable of running a business and that you don?t have any past records of fraudulent activities. Small business grants for women can be used together with a business loan, should you need to. It is easier to get a grant than a loan, as they don?t necessarily check your credit record or require you to have a steady source of income. To find out more click Grants for a Small Business .
Learn more about Grants for a Small Business .
Tags: business, Business Governments, loans, small business
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