Business Grants

The 21st century is the age of the Entrepreneur. The ever-increasing opportunity offered by the internet and social media allows people throughout the world to connect in new and interesting ways. So, it is not surprising, therefore, that as innovative ways are utilized to connect people, people are creating new businesses, utilizing the internet as a platform to launch services and projects! Of course, entrepreneurs not only harness the amazing power of the internet, and the tools of social media, they harness economic and community development ideas to advance services and products as well!

As with all businesses, funds to either launch or expand them must be identified and obtained. Overwhelmingly, the singe most important funding problem that faces any business is that of working capital. Consequently, working capital – to help bankroll payroll, fixed costs such as rent and utilities – requires resourcefulness, and due diligence.

Are grants available to help launch new businesses? To stabilize existing ones? To help in expansion needs? To assist with working capital?

The answer to these questions is “Yes, but certain restrictions apply.” While the federal government does offer grants to businesses, there are numerous restrictions and stipulations that apply. When reviewing federal grant opportunities, it is very important to not merely read the synopsis, it is essential to read the full announcement. Contained within the full announcement will be the very details that will qualify or disqualify any business. While this might appear as a daunting task, it requires an investment of time and understanding – and this investment could, in fact, be of enormous benefit to a business, particularly if that business qualifies.

To find federal funding initiatives, go to, register for its daily email announcements, and review each day.

Also, some states, not all, provide certain kinds of business grants. But note: many states have reduced the number of grants offered as a consequence of the economic downturn, so be prepared, but not dismayed. A business owner will soon discover what is fundable versus what is not by conducting research through the state’s Economic Development Department. Florida business owners, however, will need to access such information at the county level as the state takes a decentralized approach.

There are, of course, large companies that provide sizable grants to business entrepreneurs. These grants are a significant source of funding, but the grant cycle is only once a year. Due diligence is required. Know well before the grant deadline the requirements, understand the criteria, and review past winners to gain an appreciation as to how a particular company funds!

There are numerous smaller grant opportunities available to business owners as well. These grants, as with all grants, are highly competitive! Here again, research is required to identify these grants – some are very small, and limited to ethnicity and/or gender. Some are larger, but have other requirements involved.

There is no one way to conduct research and identify grants. Find the one that fits your business, and actively seek grants to fund your needs.

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