Federal Grants for Small Business Startup


Many publications, websites and books mislead small business entrepreneurs to think that federal grants exist to start a new business. The only federal grant available to start a new business is to cover the research and development costs for a business conducting research for new technologies. Federal government seed money can also come by a business for offering services to the federal government. If your small business venture falls under one of these categories, then you can apply for a federal grant to obtain the seed money you need for your small business.

Step 1

Find federal grants available in the Catalog of Federal Domestic Assistance. The Catalog of Federal Domestic Assistance lists all of the federal grant money available. The catalog is available online (See Resources) and you can search for grants using keywords or phrases that relate to the business you are starting.

Step 2

Read the grant requirements. Once you identify grant opportunities, read the criteria and requirements carefully. Your business startup must meet the criteria to have a chance to receive the grant.

Step 3

Request a grant application kit. The federal grant listing includes a contact name, phone number and typically an email address. Call or email the contact person to request an application for the grant.

Step 4

Identify each requirement for completing the application and the deadline. When you receive the grant application kit, read it from beginning to end, make sure you fully understand and can supply the information on the application and as supporting documentation, and that you can meet the deadline for submitting all of this information to the grant agency.

Step 5

Write the grant proposal. Each grant application package comes with specific instructions on the information you have to write, the format for submitting the proposal and any supporting documentation that may need to accompany the application and grant proposal.

Step 6

Obtain third-party feedback. Have someone outside of your business or someone who has previously attained a grant review and supply you with suggestions and feedback on your application.

Step 7

Refine and revise the grant proposal. Taking the feedback into consideration, make the final adjustments to the grant proposal to bring it to a final version.

Step 8

Submit the complete grant application on or before the deadline. Submit the file version of the grant application packet to the agency.

Step 9

Receive a response. The granting agency is required to publish the grant outcome, and typically the contact person provides applicants with an email or written outcome of the grant—whether you are the recipient or not.

Progressive Management 2003 Guide to Federal Grants and Government Assistance to Small Business: Catalog of Federal Domestic Assistance, Loans, Grants, Surplus Equipment, SBA, GSA, SEC Information for Entrepreneurs, Startup Kit, Loan Programs, Financing, Law, Regulations, Reports, Workbooks Applying for Federal Assistance (CD-ROM)
Book (Progressive Management)
2008-10-03 11:01:14 by grativo

What time is it? Prosper reading material time!

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