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Small business grants have been quite a rage among small business owners, particularly small business start-ups with one man operations. What are small business grants? Who would qualify for this? I am attempting to answer few of these obvious questions.
First of all, let it be clear that small business grants are scanty in nature and generated from federal, state or local bodies. These bodies usually have their own set of time frame and processes, which may become frustrating at times. It may occur to a potential businessman that if only he could start business without the help of any grant.
There are industry or manufacturer’s bodies who provide grants, but such grants are very rare in nature. Chasing such grants may not really prove to be fruitful in shirt run. Secondly, grants are never individual in nature – the beneficiary has to match the amount of the grant with his own resources. Often this matching component is 50%, in some cases touching 80%.
Some objectives like export potential, farming, R & D, job creation, etc are often prioritized over other business objectives like business expansion, wealth creation, etc.
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