Article - Government Grants - governmentgrant-resource.com

GOVERNMENT GRANTS FOR BUSINESS WOMEN

Just about everyone who is operating a growing business has the need for investment capital.  Women in particular often have a difficult time finding the capital they need.  One source of this seed money is the Small Business Administration, set up by the government to encourage entrepreneurship.  SBA money is generally given as a loan; other sources of loans are banks, credit unions, or other institutions.  For those who cannot provide the necessary collateral for a loan, there also government grants, especially for women, designed to get them started in their business.   These can be especially useful because they do not have to be repaid.  Women are eligible without regard for race, religion, or cultural background.

It can be difficult to qualify for these grants, however.  Many of them are aimed at particular segments of industry and have a stringent list of requirements.  Many of them are earmarked for research and development costs only.  If you have a retail business, you will have a much harder time qualifying than if you have a technological ideal.  Do not be discouraged, however; occasionally, new programs begin that assist women in all areas of commerce.

There are over 1000 grants available to women seeking to start business, with over $400 million in total grant funding available.  There are 26 grant agencies in the federal government, and these 1000 grants fall under one of 21 different categories, ranging from agriculture to business and commerce to employment and training to legal assistance.  Only one person out of ten who would qualify actually apply for this funding.  As a result, much money goes unclaimed every year.  This is why every woman who would like to enhance her business should give government grants a look.

The business and commerce category seems to have the most business grants for women, but it is often the most popular category for applicants as well.  Your business may fall under another category that is less competitive, increasing your likelihood of success.  Make sure you check out all possible categories to maximize your possibility of receiving a government grant.
 
Grants prioritize research and development of an existing business, and so they are not available for those wanting to start or physically expand a business.  Even if you can’t get money to add a wing to your building, you can get grant money for education and training, and the resulting savings may help you get the expansion you want.

Remember – it is crucial to make sure you do your background work carefully before beginning the grant application process.  Search far and wide for grants that could fit your business.  If you apply for a grant in a less competitive category, the reviewers may be willing to stretch to meet your needs, because they will have unspent money if they do not.  One good Internet site for this is www.grants.gov, which lists the various categories of grants, and also lists the qualifications needed for these grants.  If you live in an area of the United States that has been deemed as economically depressed, you may quality for a grant because your work will assist in economic rejuvenation.  Educational grants go unfilled each year, because there are not enough applicants.  Use this opportunity to increase your earning power and to save money, that you could channel into your existing business.  There is no reason to ignore the opportunities in educational and business grants for women.