Obtaining a Business Grant

by Lee Wyatt
(last updated August 23, 2013)

Anyone that has ever started a business can attest to how difficult and stressful it can be to come up with the starting capital. In fact, simply generating the money necessary to simply get the business off of the ground, let alone running for any length of time, is probably the single most stressful aspect of running your own business. Perhaps the single best way to help alleviate that problem would be by obtaining a business grant.

Obtaining a business grant won't necessarily solve all of your problems, but it will definitely take the edge off. The trick is figuring out how to succeed in this particular step of the process. There are four basic aspects to keep in mind when trying to get this extra funding. While there are no real hard and fast rules that will ensure that you succeed, these guidelines will definitely give you a leg up on the chances of success.

  • Look around. There are all kinds of places that offer grants for businesses. Some of the more notable ones are from local, state, and even federal sources. However, these are not the only places that you can go to obtain a business grant. Some additional business grants can be obtained from other businesses, special interest groups, religious groups, even from community and historical groups. Before you begin applying, make up a list of as many different possible or potential business grants as possible.
  • Go for a specialized grant. After you have made your list, keep an eye out for any specialized grants that you may feel you are eligible for. For example, if you are a member of a minority group, you can try applying for any grant that is specifically for those minority groups. In addition, there are grants that are designed to help out specific age groups such as younger people (or older people) who are starting a new business. Use your general list to help you make another list of specialized grants that you may be eligible for.
  • Try out for multiple grants. Try applying for as many different grants as you possibly can. For example, apply for each of the specialized grants that you may be eligible for. A simple rule of thumb to keep in mind is that the more grants that you apply for, then the more chances you have of succeeding. It's kind of like playing the odds in a lottery. The more tickets that you have for the lottery, then the greater your chances of winning.
  • Don't give up. There is one thing that you will need to keep in mind more than anything else when obtaining a business grant and that is do not give up. If you don't succeed at first, try again and again until you do. Just because you don't get the first one, two, or even several grants that you apply for doesn't mean that you won't get one.

Author Bio

Lee Wyatt

Contributor of numerous Tips.Net articles, Lee Wyatt is quickly becoming a regular "Jack of all trades." He is currently an independent contractor specializing in writing and editing. Contact him today for all of your writing and editing needs! Click here to contact. ...

MORE FROM LEE

Building a Sandbox

A sandbox is a perennial favorite among children, so why not give one to a child that you know. Building a sandbox is easy, ...

Discover More

Getting Bugs off Your Windshield

As you know, bugs are soft and windshields are hard. That is until it is time to try and clean off the bug mess. The roles ...

Discover More

Avoiding Cross Contamination

While it may seem like a fairly simple prospect, avoiding cross contamination is really anything but. At least that is the ...

Discover More
More Money Tips

Avoiding Financial Mistakes in a Divorce

Divorce is a horrible, gut wrenching, and life changing experience that it is extremely easy to make some fairly costly ...

Discover More

Unclaimed Money

Many people don't realize that they could have money sitting out there that they don't know about. With just a little bit of ...

Discover More

Avoiding Probate

Unlike many think, dying isn't simple, at least from a financial perspective. There is a lot of legal muck to sort through ...

Discover More
Comments

If you would like to add an image to your comment (not an avatar, but an image to help in making the point of your comment), include the characters [{fig}] in your comment text. You’ll be prompted to upload your image when you submit the comment. Maximum image size is 8Mpixels. Images larger than 600px wide or 1000px tall will be reduced. Up to three images may be included in a comment. All images are subject to review. Commenting privileges may be curtailed if inappropriate images are posted.

What is 5 + 0?

There are currently no comments for this tip. (Be the first to leave your comment—just use the simple form above!)