The rate at which women are becoming business owners has been rapidly growing. Historically speaking, more women than ever are starting businesses. Money or lack of money can be a huge stumbling block to getting a business off the ground. The funding search can be a challenge and most women just do not know where to start. Federal grants are helping women throughout the US live the dream of business ownership
When it comes to business grants for women, you have two options available. There are business grants awarded by entities that want women to succeed. Not only do government agencies offer grants, a woman might also be awarded a business grant from companies as well as non profit companies. A business grant is a great option as the monies received do not have to be repaid.
Business grants can be used for a number of expenses such as, supplies, advertising, equipment, paying employee salaries, and so on. As you can guess, there are a multitude of expenditures a new and growing business has to have. Do NOT apply for a business grant without having a solid business plan. When you apply for the grants, you will also be required to turn in a business plan to show what the money will be used for and what your long and short term goals are with the business. If you are not comfortable writing a business plan, you can find software on the web to help you write one. A lot of women won't apply for business grants as they are afraid, because they believe the process is too overwhelming. This believe is false. Billions of dollars are available for grants each and every year and many grants go unawarded because of the lack of applicants. More women are urged to take advantage of the service that is to be had. What's more, having a well designed business plan will only help your company succeed and help you identify your needs before asking for a grant. You don't want to ask for too little money or too much. Your business plan will help you ask for the right amount and let the entity that you are applying to, understand that you are planning a thriving business.
Millions of dollars in grant money are available to the women and minorities who apply for them. Apply for the grants which you understand the requirements for, you'll want to insure that the grant is a good match for you. A women owned grant is usually asking for the requirement that a women own at least 51% of the company. You can have male partners, but it will usually require that a women own just over half the company. You will need to be an US citizen, a tax payer and your credit score will usually have little bearing over the decision. The entities issuing the grant will want to see a business owner who is prepared to go into business and is enthusiastic about the business idea. In short, they want to see somebody who has done their homework!
Don't limit yourself to US business grants, apply for multiple grants on the local and state level as well. Many entities or agencies that are giving the money away, prefer that you live within their same state or locale. Research grant websites carefully. You will want to look for online resources with extensive help, great directories and updated information concerning grants for women. Those that aid you with a business plan template will help you in receiving business grants for women
You are heading in the right direction to discovering the grant that is right for you! Apply for the grants you are looking for and join the many women who found success and help because of these business grants.
Author Resource:
Nick is a writer/sometimes editor for a half dozen blogs and article directories. He's been on the web since '96 or so and mainly writes about financial and business subjects such as: Credit Repair and Business Loans
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