Help exists in the form of government grants and much, much more

So many people don’t realise there is more to governmental help than just government grants. Here is some information about other options for you and your business.

Grants can be a huge help

All small businesses, and particularly new businesses and enterprises require a lot of financial assistance in their first year of setting up or trading. Almost everybody who has ever set a business plan into motion has been shocked or surprised at the amount of hidden costs, unexpected expenses and problems which need to be fixed with cash that are encountered quickly, and can be disastrous if the funds are not there. As such, it comes as no surprise that government grants are in high demand, as any sort of grant can be a huge help in the turbulent early stages of business development. Nobody really likes taking loans from the bank or from private loans companies – when you are setting up your business, you want to be able to focus entirely on developing your ideas and your service or product, not worrying about making high interest repayments! However, it is true that government grants are not easy to come by, and not just because they are in such high demand, making competition fierce. There simply aren’t as many government grants for small businesses available anymore, but that isn’t to say they don’t exist.

Fierce competition

Most people will tell you that looking for even small government grants can be like looking for a needle in a haystack, but if you keep your aspirations realistic, and look mainly in your local area, you can improve your odds of success when it comes to being awarded government grants. In fact, the central government consistently provides money to city halls, local councils and other county and city based institutions for the purpose of assisting small businesses and to encourage entrepreneurship. However, the problem of competition is never far away, and it goes without saying that as soon as a grant is offered, that institution will be quickly flooded with applications.

Incentives for business minds

Government grants for small businesses are intended to encourage small businesses to flourish, and to add an incentive for entrepreneurs to come up with fresh new ideas to add to their local and national economies. This innovation and development can quickly translate to job creation, and all sorts of value for the government through taxes and profits, and so it is in the government’s interest to assist new business ideas. When you take into account that small businesses and enterprises account for up to sixty percent of all business in the country, it seems a shame that there is so much red tape to navigate yourself through in regards to accessing government grants.

 

Don’t let anything pass you by

However, focusing your attention and knowing where to look can greatly improve your chances of success, and opening your eyes to different types of assistance can really yield great results that may have otherwise passed you by. Government help doesn’t start and stop with government grants, and there are many repayable grants, soft loans, free consultancy programs and technology transfers to name just a few of the ways the government can help you in your new business.

Government grants: Help for entrepreneurs

Getting a government grant in these difficult times is rarely an easy process. However, there is plenty you can do to help yourself. Here are some top tips for success.

Are you looking for government grants?

If you have recently set up a small business, or if you have a business idea or plan which is ready to go and waiting for funds to get it started, then some sort of government grants must have crossed your mind. It is a simple fact that setting up any new business requires a lot of help, and a lot of money. Even the most basic businesses have setting up costs – whether you need to buy specialized equipment, or employ staff members, or even have a professional website built, everything requires you to pay somebody and have access to funds. Government grants are not necessarily easy to come by, but they are available for people who have the time and patience to apply for them and follow up their applications with accurate and well written business plans. With a government grant, you can cover some or all of those setting up costs, or get some assistance in expanding your business to a more successful level. There is also plenty of free help and assistance in the form of training, planning and all sorts of other related services for the new entrepreneur.

Start locally

One of the best tips for anybody looking to set up a new business and get access to government grants is to start their search locally. Because the central government at this time is not offering government grants to new businesses, the focus has shifted to local governments and other sources of local money. Often, the quickest and easiest places to look for help and advice, as well as grants, are your city halls, county offices, places of learning, local large corporations and private companies. A lot of these places and organisations receive funding from the government specifically for helping new businesses and people in need of advice, assistance and cash for which to set up their enterprises.

Be prepared to wait

There are many other things to keep in mind if you want to have success in your application for government grants. Firstly, you must be prepared to wait. Because these grants are in fierce demand by a lot of different people, with a lot of different business, when a grant is offered, a huge amount of applications are sent in. Obviously, each of these applications and proposals needs to be looked at carefully by a relatively small group of individuals, who are not willing to throw cash at anybody who comes along. As such, processing these applications can take a very long time to do.

Top tips for success

You can help yourself in your quest for a successful application by first making sure your proposal is as professional as it can be, but also by following up your application by contacting your grant officer. Of course, you should avoid being pushy, but simply making enquiries about your application, or the limitations and criteria of the grant can help your chances a lot, and make sure that your papers are not simply filed away and forgotten about. Not only this, but getting to know how the grant works, what it is they are looking for and how they can help you can massively improve your next application, if your first is unsuccessful.

This article is written by Jon Emge who is a Senior Debt Advisor writing for a range of financial sites including www.debtadvice.net and www.debtconsolidationloans.org.uk

Thinking of applying for a government grant?

There are plenty of options available for people looking for government grants, and plenty of ways in which your local government can help your business. Read on to find out more.

Lots of options for new businesses

If you are thinking about starting a small business, or have recently set up you own enterprise, you are probably looking into some way of getting yourself some financial help in the form of government grants. Every new business requires a bit of help, and setting up costs can easily run into huge amounts. You need money to make money, they say, and when you consider just how much equipment or resources need to be bought in order to get a new business going, we realize just how true this saying is. If you take a moment to think what even a very simple new business needs, it is little wonder that so many people seek help from the government in the form of free grants. However, currently, the US government is not providing government grants to help with setting up small businesses, and in these economically difficult times, it can be very difficult to find funds and grants anywhere. Thankfully, that isn’t the end of governmental assistance for new businesses, and there are many ways in which the government can help you through different means.

Free help and advice

Firstly, individual states, county councils and local development schemes do still offer grants for new small businesses, and the federal government is still offering plenty of assistance and advice in regards to starting or expanding a new business. It is also well worth looking at the options available to you in regards to small business loans backed by the SBA (The US Small Business Association), a governmental body dedicated to offering free advice and help planning, developing and training with new businesses. They can certainly help you set up extremely low interest loans in place of a grant, and they have helped thousands of people across the country build up their businesses and aim for success.

Stay local

On a local level, there are still plenty of government grants available to new businesses, and many people have benefitted greatly from applying for a grant from their city or county council. If your business is likely to improve your local area in some way, and particularly if it is of some benefit to minority groups or a rural area, you have a good chance of being awarded a grant. Most local authorities have certain criteria to meet, to ensure that minority groups, female-led businesses, and businesses aimed at improving rural areas get a head start in their bid for success. That isn’t to say that if your business plan doesn’t fit these criteria, you won’t be at all considered for a grant – just that it might take a bit longer to process your application, or others may be put before you in the queue.

Perfection and professionalism

Applying for government grants in these times is never really an easy process, but if you are determined to go through the paperwork and apply for one, make sure your papers are in order, your calculations done to perfection and your application is as professional as possible. All these things can greatly help your chances when the time comes for your grant officer to look over your proposal.

This article is written by Jon Emge who is a Senior Debt Advisor writing for a range of financial sites including www.debtadvice.net and www.debtmanagement.co.uk