- Posted January 28, 2014 by
Grants for Start-ups
If you look at every survey that rates the best places to start a business, the United States ranks high in all of them. This is because of the prevalent entrepreneurship culture, which means that it tolerates risk and failure, prefers self-employment, has an innovation and research culture, and celebrates self-made wealth to a greater extent than the other countries. More than anything else, the kind and type of funding available for you in the United States is unparalleled.
Let’s say you’re starting a new business, you have all the ideas and the business plan has been well conceptualized. The only thing remaining is capital injection. This is where many government and private donors come into play. As an entrepreneur, there are many avenues for you to secure the initial funding or start-up grants you need to start your business.
Federal or Government Grants:
The United States Government funds new business through the Department of Agriculture’s Broadband Initiatives Program, Department of Health and Human Services’ research regarding vision loss in the United States, Homeland Security Advanced Research Projects Agency, Small Business Administration and, Small Business Innovation Research (SBIR) program.
Small Business Administration:
The Small Business Administration is another source for money. Start-ups and new ventures catering towards research, development, job training and technology are provided with substantial financial resources. A great way to secure assistance is to find out whether you’re a minority. If you’re African-American, Hispanic or Native American, you can avail of minority grants. An interesting thing to note is that women too can avail these minority grants.
State & Local Governmental Assistance:
Many State & Local-level governments and municipalities get money from the Federal Government. This money, in turn is distributed among local businesses for various start-up costs, business expansion, job training and technology to ensure that they survive and flourish. The money donated is also intended to help them expand and invest in R & D.
Many private organizations and individuals also go a long way in contributing free money to businesses so they can involve themselves in research and development, provide jobs and training.
The Bottom Line:
Any kind of financial assistance that you receive does not have to be repaid. At the same time, you have to meet a certain pre0defined set of conditions and you may be subject to reporting requirements as well. Business start-up grants provide the needed funds for businesses to grow and expand and for new businesses to start so that jobs can be created and new technologies and services developed that provide benefits to the entire community and the country.