Government Grants - Who Really Needs Them?

By Aaron Lee

Summary- Federal government grants can simply make or break any small scale business enterprise in this ages of extreme competition. If an entrepreneur has a socially and financially relevant enterprise in his plans, he is eligible for the monetary assistance from the United states government also.

Funds and financial investment is the greatest question that begins contemplating in the minds of people when they think about building or expanding a current business. In such a scenario, the federal government agencies as well as several state development agencies come up. It is because they offer federal government grants to the needy people (especially women and small business people). America is the biggest example in this instance, as the country offers funds to the numerous businesses to aid them purchase newest equipments, renovate the look or promote the company by promoting exactly the same.

Aside from the state and the federal government, the central government also plays a hand in providing financial assistance to the needy business people. However, the real difference is that the state and federal governments offer funds to the start-ups as well, but the central government offers funds to the industrialists only. Therefore, the federal government takes adequate steps to help the little businesses to flourish largely. Thus, it allots funds to the state government to pass on the same to the eligible small business owners. CDFI (Community Development Financial Institution) is one such fund offered by the American federal government.

Other than CDFI, SBA is worth a mention as well. SBA (Small Business Administration) is a fund that is provided by the American funding agencies to the industrialists in addition to small scale business owners to financially assist them to grow and expand. These grants in turn assist the country if you make it economically stronger and making more employment largely. The PAP plan i.e. the 'Portable Assistance Program' proposed by SBA is a step towards enhancing the feeble small businesses in becoming a big empire by providing investment. These funds are however given to the eligible candidates only.

Guide to receive the federal government grants is the only and legal website that offers information about how to acquire such financial funding by the federal government. It came into existence in 2002 by the independent efforts of the central govt. This web site, running under the American department of overall health and human services, offers financial aid worth up to 400 billion dollars at present. This site goes global through the aid of the online branch of the same, managed by 'The office of management and budget'. This website serves as a guide and provides information regarding the grants provided on a single browse and click.

These federal government grants are not applicable to every single business. The main need is for one to be a non-profit business organization or to include a growth of some new technologies or knowledge intended towards economic improvement. Although government may make an exception and award you grant if you ensure the growth of a novel technology or that you simply can fulfill the requirements within an agreed-upon time period. Secondly, you must have a solid business plan. A business plan is important to guarantee the management that you're focused on your business and that it'll improve the country's economy positively.

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