Business Grant Money Information

A successful business often starts with a single idea. Then, with a little help from outside financial resource, this idea is later turned to reality. See the trend here? While we're not saying that money can make the world go round, it can do a lot of unusual feats, like turning your ideas into dollars, for instance.

But then, there lies a problem. How many bright ideas do you think have people come up with? A thousand? And out of all that, how many of them had been turned into successful business enterprises? Ten? Twenty? Thats because the person who came up with the idea doesnt have the financial means to make his idea work.

Now, what if we told you that there is a way for you to finance your dreams? No, we're not talking about loans. We're talking about business grant money.

Unlike a loan, a business grant does not require you to pay back the amount. In fact, thats the reason why many people refer to it as free money because it is, technically, free, though there may be obligations and sanctions imposed.

The great thing about business grants is that it is out there. It exists, though you may have to dig deep to find one that suits you perfectly. And when it comes to federally funded grant money, you may have to dig a bit deeper than usual.

You see, while many private institutions and nonprofit groups offer business grants to enterprising individuals, the real money (a hefty chunk of it, in fact) often comes from government.

Congress allocates about $67 million in business grant money to be distributed to the 57 federal agencies all over the United States. For a simple street-paving project proposal, you may get awarded something around $1,000 - $25,000 in grants.

The only requirement that the federal government imposes is that your business project must be beneficial to the local community or the general public. A search through the Catalog of Federal Domestic Assistance (CFDA) will lead you to two types of business grants: one for rural businesses and one for minority business enterprises.

For a rural business grant, the purpose is to promote sustainable economic development in rural communities with exceptional needs. Since the program gives a strong emphasis on helping existing businesses grow, eligible applications for the grant money for starting a business are public entities and nonprofit corporations that may in turn award money to the residents they serve.

Other eligible applicants for the money for starting a business include Indian tribes on Federal or State reservations or other Federally recognized tribal groups, and cooperatives with members that are primarily rural residents and that conduct activities for the mutual benefit of the members.

On the other hand, minority business grants offered at CFDA is aimed at fostering new minority business enterprises and maintaining and strengthening existing firms to increase their opportunities to participate and receive benefits of our economic system.

Applications eligible for this program for grant money for starting a business are Federal, State or local government entities or quasi governmental entities, American Indian Tribes, colleges, universities, nonprofit organizations, and for project organizations.

T J Madigan has been established in online business since 1998 and is director of a number of successful online projects one of which is http://www.articles.net.au your best source for FREE articles and information.

Where To Find Grants

Are you ready to find a few grants and start applying for financial support in your business? This article will help you do just that.

Grants.gov

This is another heavy-hitter grant website that offers over four hundred billion dollars each year in Federal grant money. It is a government requirement that all Federal competitive grants be listed on this website.

You can search for grants by using a keyword search, or a category or agency search, as well as the CFDA number. When you are ready to apply for a grant here, you will discover that it can be done by downloading an application package. Then you can work on it offline and take the time you need to complete it. It can then be submitted online when it is complete. You can also track your application online as well, to see where it is in the process of evaluation and acceptance.

If you choose to apply for a grant at this website, you will need to register with them as either an organization or an individual. Individuals registered as such are only allowed to apply for grants for individuals and not grants for organizations. If you are registering as an organization, you will need to select someone in your organization to be the authorized organization representative who will register with a credential provider.

There is also a helpful e-mail alert feature where they will send you an e-mail describing new grant postings on the site. Here you will find a glossary of the terms that you will see used at the website and a list of frequently asked questions. They also offer an indexed User Guide that takes you through the whole process of finding and applying for a grant at this site.

State and County Economic Development Offices

After you type the above descriptor into a search engine, you will receive a list of different offices. You will want to look for your state and select that one. Each of these sites will usually have a search feature, into which you will type "grants." You should then get a list of what is available in terms of grants. It might be listed as loans and grants. Many states also offer community service block grants which might provide you with the funding you require. Here you may also find energy efficiency grants, project grants and low-interest loans, job creation tax credits, job creation grants, grants supporting research and technology development, and manufacturing equipment grants.

You will also find links to various state agencies. This is a good place to look at agencies that have something to do with your new business, and see what kinds of assistance are available. Some of the state websites might offer a business gateway, and there you can look for grants as well.

Another related resource that will be useful in the grant-seeking process will be your local Small Business Development Center. This organization can help a new small business find funding sources.

These two resources will give you tons of grant options so use them to your advantage as much as possible.

Dwayne Garrett is the author of several eBooks and popular software applications, he also offers an affordable Government Resource that will help you to make sense of getting free grant money. http://www.GrantMoneySecretsRevealed.com

Outline Of A Complete Business Plan

Telling you how to develop a complete business plan is just not the same as showing you exactly what needs to be included in one. Below is exactly what you need to include in your business plan so that you have a decent place to start. Here is a quick nine-step guide to what you will need in your company's business plan:

1. The executive summary: The executive summary is what introduces your business strategy to the reader and probably is the most important section for lending institutions. If you can't convince a grant agency in the first two or three pages that you've got a good business proposal for them to listen to and that you're not going to leave without some funding to help you get started. This summary is also important as a communication tool for employees as well as any potential customers who need to understand your goals and ideas.

2. A small section on company startup: This section of your business plan is where you have to clearly explain the thought behind the company's creation and how you or your business associate came up with the idea to start your business.

3. Your company goal: You will have to use this section to explain in as few paragraphs as possible what your short and long-term goals for the company are. How fast do you think it will grow? Who will be your primary customers?


4. Biographies of management: This section will be used define your management team and what their purposes are. This section should include information such as the names and backgrounds of lead members of the management team and their responsibilities.

5. The product/service you will offer: This is where it is a must that you include a key piece of information that needs to be included in this section; which will be a discussion of how your pharmacy actually differs from every other business on the market.

6. The market potential: This is the section where you will really want to remember that you've got to convince everyone that you're after is relatively large and growing. You'll need to do some research for this section.

If you're planning to open a locally based business, you need to check out the demand for your offering within a certain radius that is based on what you determine is a reasonable distance from your business. If you are planning to open a Web-based business or one that relies on both the Internet and local traffic for revenues, you'll need to evaluate demand on a local and/or a national basis. You can also seek to get this type of information online as many different sites will perform this analysis for you.

7. The marketing strategy: This is the section where you will have to ask yourself how you plan to tell the world you're open for business. For example, questions like; Will you advertise in print, television or on the Web or all of these? Will you use online marketing tools like search optimization, to get your company listed on search engines and advertised on other Web sites? You'll also need to include how much you plan to spend on marketing.

8. A 3-5 year financial projection: This section should have a summary of your expected financial forecasts, including spreadsheets showing the method that you used to reach these projections. You'll want to use your balance sheets, income statements and cash-flow projections for the entire period that year. The summary in this section is also where you would tell grant agencies how much money you'd like to get in order to cover your startup costs. The assumptions that you make in this section will make or break your company's success. If you're unsure about using this kind of financial modeling, find a professional.

9. An exit strategy. All good business plans include a section that lays out the benchmarks you'll use in deciding to call it quits. The strategy could be based on a specific figure, revenue growth, the market's reception to your idea, or a consensus among top officers.

Dwayne Garrett is the author of several eBooks and popular software applications, he also offers an affordable Government Resource that will help you to make sense of getting free grant money. http://www.GrantMoneySecretsRevealed.com

Where to Find Grants for Women Entrepreneurs

The world of entrepreneurship, once evolved among the masculine and the brave has now become a common place among both men and women.

We have seen the tides change and its already far too long since we last heard that this thing is for men and another thing is for women. There no longer is a separation of opportunities, all of us are already playing on the same terrain.

The sad thought though is that there are too few funding resources and help groups for women entrepreneurs. Good funding resources are very crucial especially for women who are just starting out with business. These are rare indeed that is why women tend to resort to using their credit cards, family loans and assistance from friends which in most cases are hardly ever helpful.

But you see, funding for a business is only one of the many problems among women entrepreneurs. They may also be having troubles in building websites, juggling with researches and making press releases for promotions of enterprise. And hey there are also problems in selling one or two of their products and in contacting clients. Though all that may sound difficult, they surely are worth the time of woman entrepreneur.

After all, it is her business she is building in here.

Various organizations and the government has seen all the hardships a woman entrepreneur has to undergo to be able to make it to the supposedly men's world. This is why they have provided programs for minority businesses to see what its like being among the greats in the businesses, or at least experience some of their glories.

If you are a woman entrepreneur and is interested in getting grants, the first thing you would want to do is to identify if you are qualified for being given a grant.

The most common qualifications are:
1: Obviously, you should be a female or depending on the program, must come from the minority sector
2: You must own the majority share in your business
3: And your business must show lucrative opportunities for growth

There are a number of government and private agencies that provide grants for women entrepreneurs at various levels.

Say for the federal level, women can undergo self-certification and apply for the Central Contracting Registry database from which many government and private contractors gather to search for small business.

Other programs may be seen on local level where advantages are presented and benefits are granted. Its just the matter of finding them and apply for one that you think you can create your real potentials from.

And because of their own commitment to provide diversified services and opportunities, large corporations are also creating grants for women entrepreneurs. Normally, these large companies were mandated by the federal government to create further services to improve their employment base and to create equal allocations for small business owners.

Well, if you cannot be reached by these options you may always turn to your previous employer and create a market for him, make him your first client. Only, you need to be very careful and see if this would actually pass to your previous boss. If you aren't tactful enough, you might find yourself facing resignation or losing your job. This might be risky but don't be too afraid. Most former employers do make outsourcing for their previous workers t help them start create their own businesses. After all, this will provide them with an extra chance to leverage their compliance to their set-aside goals.

Be warned though that the application process for grants may be time consuming and very demanding. Oftentimes, the providers set specific time for waiting periods with regards to the processing of the grants for women entrepreneurs. And sometimes, bureaucracies may even take the toll of having you wait for several months before your certification is released.

And being an applicant, please anticipate unusual questions to pop up. These might include those that you would not normally hear or expect.

Keep in mind also that grants for women entrepreneurs are meant to help you have that break and not to supply you with an unlimited meal vouchers. So be on guard. Many agencies and grant providers may even cut out their services to you out of convenience. Meaning, they need not provide an explanation in doing so. They just do most of the time.

Dwayne Garrett is the author of several eBooks and popular software applications, he also offers an affordable Government Resource that will help you to make sense of getting free grant money. http://www.GrantMoneySecretsRevealed.com

Avoid Grant Scams

The very idea of all of the ads that tell you that they have free grants to offer sounds too good to be true, and the fact is that in some ways it is. The ads claim that you will qualify to receive a grant for your business. They say your application is guaranteed to be accepted, and you never have to repay the money.

There is of course a catch that they don't mention. The Federal Trade Commission (FTC), the nation's consumer protection agency, warns you that money for nothing grant offers often are a scam: the grant isn't free, it isn't guaranteed, and often, it isn't even available to you.

Some people actually market free grants in classified ads, which begin by inviting consumers to call a toll-free number. If you call, a representative of the company will ask you some basic questions to determine if you qualify to receive a grant, and some of these questions include:

1. What's your address?
2. How long have you lived at this address?
3. Do you have a bank account?
4. Do you have at least $200 in your account at this time?

Next thing you know you are being asked to hold on the line while your eligibility is determined. After she congratulates you on your eligibility, she will ask you to pay a one-time processing fee that can range from anywhere from $100 to $300.

If you question this fee, you will then be reassured that the grant is guaranteed, and that if you're not COMPLETELY satisfied with your grant, you'll get a refund. However, she won't offer to tell you all the conditions for a refund.

The processing fee is said to cover finding a grant source and sending you the appropriate application package in the mail. However, you won't receive an application or a source. What you will get is a list of agencies and foundations to which you must write and request an application. This information is available for free at any public library or on the Internet.

Most sources of grant money don't give grants to individuals for personal need. Grants usually are given to serve a community good, such as bringing new jobs to an area, training young people, preserving a bit of history, funding soup kitchens or art museums, or researching medical issues.

If you ask an agency or foundation for money for personal reasons, you probably won't get it, even if you are financially needy. You are also not likely to get a refund from the grant broker because the conditions for a refund are nearly impossible to meet: you usually have to apply and be denied by each person on the list within 90 days.

If you're thinking about applying for a business grant, you need to remember that the applications are available to you for free and that anyone who guarantees you a grant is likely to be interested in their own gain, and definitely not yours. If you think you may have been a victim of a grant scam, file a complaint with the FTC.

The FTC works for the consumer to prevent fraud, deceptive and unfair business practices in the marketplace and to provide you with information to help you see, stop, and avoid them.

If you want to file a complaint or to get free information on consumer issues, visit www.ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261.

The FTC will participate against Internet, telemarketing, identity theft, and other fraud-related complaints into Consumer Sentinel, a secure, online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.

Dwayne Garrett is the author of several eBooks and popular software applications, he also offers an affordable Government Resource that will help you to make sense of getting free grant money. http://www.GrantMoneySecretsRevealed.com

Top Ten Grant Tips

What's the point in having a great idea if you don't have any cash? You need capital to move your business from an idea to reality. One route that you can use to get the money you need is to look for a business grant.

Here are some great tips to getting that grant approved.

1) Talk to your local grant agency, local council economic development officer and Business Link to see if there are any grants available in your specific area.

2) Work out exactly what you need the money for because grants wont be provided for general running costs, they will support a specific outcome for example premises, training, trademarking etc.

3) Grants are often tied to strict selection criteria such as age, gender, ethnicity, unemployment or have a specific purpose such as research and development or innovation. If your idea doesn't fit into it don't try to force it.

4) Make personal contact by phone or ideally face to face with the grants officer and don't just send in your application cold. Talk through your proposition with them to check whether your idea is suitable and it is worth applying in the first place.

5) Prepare a thorough business plan to bring with it but make sure it stands out from the crowd. Most importantly you will need to present a thought provoking vision, a passionate commitment, clear benefits and robust cash flow forecasts.

6) Know that grants are often handed out on a cyclical basis. Research upcoming deadlines and be prepared to wait several months for a decision don't expect a quick answer because it doesn't happen that way.

7) For larger amounts of funds, one grant will not usually fund ALL of the proposed costs so you will likely have to find more funding from another source.

8) Ask yourself if this business could get off the ground without a grant. Look at alternative sources of finance, such as loans, 0% credit cards, credit unions, friends and family. Funders will want to make sure that there is no chance of you moving ahead without their support.

9) Don't stop watching your business process. It's easy to get distracted by the allure of grant money and this can become the focus of your energy rather than building your business.

10) Become steadfast because many people convince themselves that the only way to start a business is to raise large sums of money without realizing there are other, less conventional routes that can be taken. Think of finding creative ways to support your start-up business until it turns profitable. The key trick here is to start small, start selling and start generating your own cash to fund your business growth.

Dwayne Garrett is the author of several eBooks and popular software applications, he also offers an affordable Government Resource that will help you to make sense of getting free grant money. http://www.GrantMoneySecretsRevealed.com