Whether you have a small business of just one person working out of your home, or you employ several dozen people, times are hard for you right now. The economy has taken a terrible toll on all types of small businesses and those that have survived the past few years really do stand to make it in the long run. But, there is one thing that all small businesses are desperately in need of and that is funding. Whether you are just starting out or you have been in business for years, now is the time to obtain government small business grants to get your business growing.
With all grants, the obvious advantage is that the money does not have to be paid back at all. However, the money must be used in a particular way. When you get a small business loan, you have the flexibility to use the money in whatever way you see fit to further your company – to buy equipment, to hire more workers, to increase marketing and advertising. But, when you get government small business grants, that is not the case. The money must be used to fulfill the mission of the original grant.
The federal government is usually the first stop for most small business that are looking for government small business grants, but you should not forget about your state and local governments as well. Depending on the type of business you are in – education, technology, healthcare – you may also be eligible for grants from your state, county, or city. In today’s economy, where bank loans for small businesses are next to impossible to come by, the availability of government grants could be the only opportunity you have, as a business owner, to get the money that you need to grow your business.
Photo Credit: The-Lane-Team