Grants are a great thrust to your business. They direct you in the right direction and prepare you for an adequate small business administration. It just takes some thorough investigation and good planning. You will realize that this type of grant has a lot already done for you.
The grants are non-refundable. You can keep them, but your country helps you, so that you, in turn will help your country… Give and take. That is why you will find that some minorities are favored with grants, maybe some determined area or state will be helped out and even some special trades that need to be developed or are in great need will be favored with a grant.
If you have no pretence of living in a particular place, or dedicating your working life to a trade you had never even thought of before, you have won the first part of the battle. The next part is to prepare a good business plan of the trade you choose. Investigate the place, do your homework. Take note of everything that you deem might be of importance. Then go home and start classifying and elaborate your plan.
A good plan should contemplate assets, machinery, facilities, inventory, raw materials, production per time unit, cash flow, and other such vital information. You can download a business plan checklist from internet and create your own plan, based on that model. Take your time, do it well. Perhaps you can consult an accountant about it and ask for advice.
The presentation should be neatly packed in a folder and printed in businesslike manner. Make a copy to keep at home, in case you have to hand in more than one set. Take note of the government agent you speak to and of all that is said at each interview.
There are grants from $ 500 to $ 50,000, depending on the trade and other specifications. The main advantage is that it is not a loan, but a grant. They do not have to be repaid. Maybe after startup, you will want a loan to expand your activity, but that is a totally different matter.
Remember that the condition is that it should be a trade in great need for development. Then, you will be absolutely sure that you always have a market to sell to. It acts as insurance, so to speak. Then comes your ability to innovate, expand your business, add more and better products or services and maybe even reach other markets outside your region, once you have got a good name.
Small Business Grant Source:
Learn the application procedures, various funding sources for specific types of businesses and eligibility criteria for small business grants. You can find the most comprehensive information on availing of small business grants by visiting this online guide on grants here
Apart from the Government, there are several foundations that liberally offer grants for several purposes. Visit this Grant Foundation Guide to know how to avail of free grants from private foundations. Also, check out the Education Grants Guide to find the best sources for all types of education grants.