Looking for a Small Business Grant? Look in Your own Back Yard
A Home Business Article Contributed by Donna m. Brown
Don't Miss the Forest for the Trees: Your Small Business Grant Might be Close to Home
Many people who are looking for small business grants make the mistake of turning to federal agencies when money and incentives are available right at home. Your state, your county and your community know your local needs and are therefore more invested in stimulating commerce and employment.
Even if you don't qualify for a small business grant, you could qualify for tax incentives and other incentives offered to bring business into a targeted area.
Where Should You Look for a Small Business Grant at Home?
Many state development agencies offer direct small business grants and other kinds of assistance to entrepreneurs, particularly if you are in what is considered to be an economically underdeveloped or rural area where economic stimulation is needed most. The downside to that story is that if you are in an economically depressed or rural area, you will have to be very selective about what kind of business you open and plan to trade products and services outside the area. If you plan to employ people in such an area, the interest of your local and state government will increase.
Most cities have organized chambers of commerce. If you do not know anyone in local government, make an appointment to meet with your chamber of commerce president or director. Ask him or her detailed questions about the local economy. Find out how other businesses are fairing and spring your idea to get some valuable feedback. From there you can approach a local economic development committee and with that organization's blessing, approach your city council or county commissioners.
You might find that you are directed to approach state departments of commerce or state offices of economic development. Your time in the trenches will not have been lost because in the process of promoting your business idea, you will be priming key people who can support you in the process of applying for a small business grant.
Do Your Research on Small Business Grants in Advance
Most governmental entities are on the Web. Find the phone numbers and addresses of those organizations as well as other contact information by doing a search online for small business grants using your state and community names as additional key words. Visit chamber of commerce, small business administrations, departments of economic development and commerce for detailed information about specific grants in targeted areas.
Once you have a list of available grants, be sure to read descriptions, qualifications and exclusions that apply to potential grantees.
If you can't secure a local small business grant locally, you might be able to piggy-back on a project through indirect funding secured by your local government.
If you connect with a government entity and share your project with them, you might immediately gain more credibility along with a strong show of support from your community for the project you want to fund -- even if it is a profit-making venture.
