If you are looking to open a business of your very own, you are not alone. Every year more and more people make the decision to stop working to make other people rich and to start their own businesses. For most of them, having the start-up capital that is needed is harder than one might think.
Small business grants are often a hot topic with new business people with a small amount of money and little access to other capital. We have all seen the many media claims about “Free Government Grant for Small Business.” It seems all too easy to get these days.
Attend seminars that discuss how to start a small business. The Small Business Administration is one organization that offers such seminars free of charge. Look online for other organizations offering seminars or classes in your area. Be wary of anyone offering a seminar that promises dramatic results in a very short time frame. Starting and running any business takes time, effort and dedication.
Decide if you are going to be involved in every aspect of the business. When starting a new business, having a staff of full time employees might not be financially possible and many of those tasks have to be handled on your own. As the business grows and money flows in, you can think about hiring personnel to call customers, collect receivables and thousands of other tasks that a small business needs to get done.
Small Business Grant Tips
– Provide the grant company with all of your complete and accurate information in the application. An incomplete application will likely not make the review process or it can add delay your grant form getting approved.
– Get to know your grant officer and their constraints, budget and concerns with approving your grant.
– Stand out among the crowd with a well-prepared business plan if required. You will have to demonstrate your understanding of the business. Show how the money will bring the benefit the government agency wants.
– Bring in outside experts or consultants to help you if you need it. An accountant or consultant can add credibility to your application process.
– Keep in touch with the company offering the grant. Make regular contact with the grant office in a professional, but non-intrusive manner.
– The task of locating and applying for a small business grant is not for the people who are not willing to go through hell. Take an honest look at alternative sources first, such as loans, personal credit lines, friends and family.