It’s everyone’s dream, to get a Government Grant for Start Up Businesses. Who wouldn’t want it? It is free money to start your own business, a way for people to achieve their American dream. However as we know, life doesn’t work like a fairytale like that.
No one is giving money away free money like that with no guarantee that the money will be used for good cause, especially if the giver is the government. Of course it’s not completely unreasonable that you think government will provides grants for small business. This will encourage economic development in the States.
In addition there are loud buzzes in the internet about the government grant for start up businesses, some websites claiming they have information about it and charge you get more “detailed information” on how to get it. Don’t fall for it because it is likely a way to scam some money from honest American like you.
Here we won’t give you that kind of non sense. We will start by giving you hard cold fact information that the government doesn’t provide grant for any of the following:
- Paying off debt
- Covering operational expenses
- Starting a business
All About Government Grant for Start Up Businesses
The Government grant are all funded by the tax dollars paid by the American citizen, therefore stringent reporting measures and compliance are need to make sure the money is used rightfully.
However, for several small businesses in specific causes identified by the government such as medical and scientific research, and conservational effort there are some federal government grant available. We will share you the information about it and see if you are rightly qualify for the programs.
The SBIR program or the Small Business Innovation Research
If your small business is involved in scientific R&D or research and development then you may qualify for this federal program. The program is intended to encourage research and development for innovative technological product. Search for the Small Business Innovation Research (SBIR) program in the internet for more detailed information about this program.
SBA Loan Program
The US Small Business Administration (SBA) functions as a federal government agency aimed at bolstering the nation’s economy by offering support to small businesses.
Distributed throughout the country, the SBA operates Small Business Development Centers, providing an array of federal grants, loans, and programs. This extensive network assists small business owners in accessing funding opportunities from federal, state, and local governments.
STEP
The State Trade Expansion Program (STEP) is a federal initiative providing small business grants across the United States. This program is designed to support existing businesses in their global expansion efforts. Besides, it provides financial assistance for activities related to participation in foreign-market trade shows and other international expansion opportunities.
The Natural Resource Sales Assistance program
The Natural Resource Sales Assistance program is dedicated to helping small businesses secure government contracts at both state and federal levels through a prioritized bidding system. Eligible industries encompass timber and forestry products, minerals, coal, oil, gas, and real estate.
State and Local Government Grants
State and local governments frequently provide small business grants, which may target specific industries or broader economic development objectives. To explore potential state and local grant opportunities, it is advisable to visit the website of your state’s economic development agency or reach out to your local chamber of commerce.
The USDA Rural Business Development Grants
The USDA Rural Business Development Grants, provided by the US Department of Agriculture, aim to support small rural businesses through technical assistance and training programs. Eligible businesses should have fewer than 50 new workers and gross revenue below $1 million.
Minority Business Development Agency (MBDA)
The Minority Business Development Agency (MBDA) under the US Department of Commerce administers an array of programs tailored to support the growth and advancement of businesses owned by minorities throughout the United States.
The Rural eConnectivity Program
The Rural eConnectivity Program, initiated by the US Department of Agriculture, provides federal small business grants to companies and projects dedicated to supporting rural communities. It places a particular emphasis on assisting disadvantaged communities and addressing the impacts of climate change in rural areas.
The US Department of Energy
The US Department of Energy extends clean energy grants to businesses that have previously received funding through the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (SBTT) programs. These grants are intended to support initiatives focused on clean energy and assist companies working towards combating climate change.
How to Safely Find Grants
Like we’ve mentioned earlier, there are a lot of websites offering fake information about fake government grant for start up businesses that actually an effort to scam your money. Here we will give you some safe way to get information about government grant:
- Use the SBA grants and loans search tool to search for Small Business Grants.
- Visit the official website for the government grant (Grants.gov). In the website you can search over 1,000 grant programs worth more than $500 billion annually. Look if you are eligible to any program and if so, apply accordingly. If you follow this step, you can get information about government grants with zero risk of scam.
Small Business Grants from Non Government Organizations
Small business grants are not exclusive to government agencies; numerous private corporations and non-profit organizations also provide private grant programs. These initiatives are available to assist small business owners in launching and expanding their enterprises.
The Comcast RISE Investment Fund provides support for independently owned businesses. This program offers funds for various purposes. For example, advertising, commercialization, marketing consultations, media placements, commercial creative production services, and other forms of technical assistance.
The National Association for the Self-Employed (NASE) is dedicated to supporting small businesses by offering a range of assistance programs. The organization aims to maintain competitive markets and prevent monopolization by larger companies. As part of its support, the NASE provides growth grants, with amounts reaching up to $4,000, to small businesses deemed to have the potential for expansion.
The StreetShares Foundation, a nonprofit organization, is committed to aiding veteran-owned businesses by providing access to financing and educational resources. Through its Veteran Small Business Award, the foundation grants funds to veteran-owned businesses. The focus is on those contributing to social change within the military community.
Grants for Start Up Business from Corporates
The Venmo Small Business Grant program recognizes and supports 20 small businesses with a grant of $10,000 each. Recipients also receive free promotion on Venmo and PayPal websites and social media platforms, along with access to complimentary business resources and consulting services. To be eligible, businesses must have a US Venmo account, a valid business profile. Also, business has less than $50,000 in annual sales, and fewer than 10 employees.
FedEx supports small businesses through an initiative open to enterprises with fewer than 99 employees that have been working for at least six months. The program awards over $250,000 to selected small businesses, including $1,000 in FedEx print credits for prize winners.
Summary
Participating in government grant for start up businesses can be transformative for a new business owner. Beyond offering crucial financial support, these programs facilitate valuable connections within your industry and address early business needs.
For businesses with the potential to innovate their industry and develop new technologies for the public good, pursuing small business grants is an ideal opportunity.
Reference:
- Who is Eligible for a Grant?. grants.gov/aboutgrants/eligibility.jsp
- (https://www.shopify.com/id/blog/small-business-grants)
- Images: examiner.com, smallbusiness.chron.com
