Aug-22-2008
Is there any way I can receive new small business grants?
I am starting up a new business in Cumbria and would like to know how I could apply for grants either locally, nationally or via the web. It is an educational toolbox for parents which comes with a monthly magazine subscription.
Depending on your age look at shell live wire on the web for general information on young entrepreuners starting up. National Council for graduate entrepreneurship may have additional info if you are a grad. Wow, I quite like the idea of being your own boss..
Try the Prince Charles Trust – it specialises in just that.
Try doing this, you may make enough for your new business.
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Go and see a good accountant……..Make sure he has good local knowledge as there are grants available which may be specific only to the area you live in as well as Nationally approved schemes.
We use a firm known as business in focus. They are a national network firm of business advisers, accountants and legal professionals. They are a government approved body and most of their advice is free and they can put you on the right path.
Try them or their website.
Good luck.
You stand a greater chance of getting a government-guaranteed loan through the Small Business Administration than a government grant. Read the SBA Financing page to learn about criteria needed for borrowing
It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business. And yes, grants mean PAPERWORK – lots and lots of it, that is why a cottage industry of grant writers was born.
Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) and Grants.gov – these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.
Even if you buy books on “how to get grants” or list that supposedly has information on grants — all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same – hardly any grants for starting a for profit business.
Even SBA does NOT give out grants. From the SBA website
“The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments.”
Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business — THERE’S NONE.
Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT – Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program
Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women’s Business Ownership Assistance that are given to those who will create women’s business center that will train women entrepreneurs
I suggest you read the following books to get ideas of how to finance your business:
Financing Your Small Business
Small Business Financing: How and Where To Get It
Financing the Small Business: A Complete Guide to Obtaining Bank Loans and All Other Types of Financing
The SBA Loan Book
Angel Capital : How to Raise Early-Stage Private Equity Financing
Financing Your Small Business (Barron’s Business Library Series)
For private grants, you may want to check the Foundation Center’s Foundation Grants for Individuals Online . It’s a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for “students, artists, academic researchers, libraries and financial aid offices.” Entrepreneurs are apparently not one of them, so I take it they also don’t have listings of private foundations who give grants to would-be entrepreneurs.
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