When you have a small business, your biggest problem is usually cash and cash flow. Whether you need the money to hire more staff, buy more inventory, or upgrade your technology, finding money in today’s economy can be very difficult.
Have you searched, without success, about business grants for women?
Local banks and large banks are very reluctant to give out loans these days, regardless of the health of your business, so sometimes grants are the only way to go. As small business owners begin looking for grants offered by the federal, state, and local governments, they will likely be confused by the misinformation on the Internet.
Small Business Grants for Women – Do They Even Exist?
If you are looking for business grants for women, you may be disappointed to learn that the federal government does NOT issue grant funds directly to individuals. The richest sources for women’s business grant money? State governments, local governments and private/non-profit foundations.
Find the Project, Participate in the Grant Funds
When you are looking for small business grants for women, you will find that you’ll need to focus your business around the grant, rather than the other way around. When your business is just starting up, this is an easy thing to do.
Business Grants for Women – Finding Opportunity In Your Community
Start by looking at the grants available and then modify your own business plan to meet the needs of the grant. For example, if there is a federal grant that is funding the renovation of a federal office building, you might apply to be a contract provider of landscaping services for the project.
Because grants do not need to be paid back (unlike loans which do have to be paid back), it is worth adjusting your own business model to fit in with a grant, at least in the short term. Especially when you are just starting your business, it is perfectly reasonable to adjust your business so that it meets the precise specifications of a grant, so that your company benefit from the money.
To recap, business grants for women do not exist directly; rather, you must be savvy and target your business to grant funding that is being spent in your community or state.