Starting a business not only involves having a great idea, but you also need access to capital. Not every potential business owner has the funds necessary to get their start-up business off of the ground. This means that you might have to come up with alternative ways to get ahold of the cash that you need to get your new business started. Government business grants may be a very effective way to get the capital that you need to make your business start-up a reality. More information on the total process of applying and being accepted for government business grants can be found at SBA.gov, but you may find a helpful overview of information below*.
Federal SBIR Program R&D Grants
If you are starting a business that is involved with scientific research, these type of government business grants are ideal for you. These Federal Grants are referred to as research and development grants that are for business owners looking to start a business based around technological or scientific innovation. This type of grant is competitive and qualifying is a very stringent process, but the money you may get access to is well worth the time investment during the application process**.
State Government Business Grants
Qualifying for a state grant is sometimes easier than qualifying for a Federal grant, but there are still many obstacles that stand in your way. These type of state government business grants are also referred to as discretionary incentive grants. At *SBA.gov, you can find a complete list of these type of grants that are offered to business owners. Businesses that are often awarded these type of grants are found to be stimulating the local economy and meet all eligibility requirements. It is always worth a chance to look at your available grant options online at *SBA.gov.
How to Search
When you are searching for government business grants at SBA.gov, you should always begin by using the Loans and grants search tool. This may enable you to search for specific grants within certain industries and states. You may be able to find reliable information that may help you evaluate your potential grant possibilities. You must always enter your state into the search tool, which may allow for the best grant results that apply to your start-up business. Qualifying for government grants is not always easy, but it is a great option for business owners lacking start-up capital*.
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*For more information, please visit: http://www.sba.gov/
**For more information, please visit: http://www.sbir.gov/about/about-sbir