By Sue Jan
Grants are given every year for a variety of reasons, from small business start-ups, continuing education, preserving historic monuments, to art. Business grants are usually given to applicants that have a solid business plan, and the more detailed the reports are, the better chance of getting the grant.
When starting up your own small business, the first priority would be to find start-up capital. The best capital to get is the small business grants such as free grants that you never have to pay back, or other types of grants that are more like loans and require repayment with interest.
New business owners and existing business owners are eligible to apply for business grants. There is a wide array of Federal business grants available such as Free Government Money for Minorities, Free Government Money for Women, and Obtain Free Government Money for equipment, rent, offices, expenses and overhead
There are numerous sources to find the best business grants:
* The Catalog of Federal Domestic Assistance is a major provider of business grant money.
* The Federal Register is another good source to help you keep current with the continually changing federal grants offered.
* FedBizOpps is another great resource, as all federal agencies must use FedBizOpps to notify the public about contract opportunities worth over $25,000.
* The U.S. Government’s Grants has its own website where you can find, obtain information and apply for many of the grants that are available.
* Government’s Catalog of Federal Domestic Assistance (CFDA) provides a listing of Government grants and other types of assistance that you can receive.
Federal law mandates that government agencies and private foundations give away over 1 trillion dollars to individuals and businesses. Foundations are required by law to distribute 5 percent of their market value assets or interest income annually, whichever of these amounts is greater, or risk losing their tax-exempt status.
The incentive for giving away grants is great. First, elected officials seeking reelection give away billions in government cash so that people vote for them; second, big corporations save a lot of money in taxes by giving money to foundations.
Another option when starting your business would be to apply for private grants from foundations and corporations. Foundations award grants to businesses that are able to help the foundation reach its long-term goals. In the United States there are more than 65,000 private grant foundations which award more than $20 billion to applicants. Two good resources for private grants are the Foundation Center and the Council on Foundations.
About the Author: For more on Business Grants visit Small Business Grants. Susan also enjoys writing at Health and Fitness.
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