Government Grants for Women in Business
The numbers do not lie, more women then men start-up new businesses and successfully run existing small businesses every year. In fact they have a nearly 75% better chance of succeeding in their business ventures then men do. One of the best ways to ensure this success is to seek out and receive one of the many government grants for women in business.
Why are grants for women in business a good idea? To answer that question lets look at how most small business are started and financed. Most entrepreneurs will go to their local bank and take out a business line of credit, usually putting their home up as collateral. The second choice is to find someone or a group who is willing to invest in the idea with cash up-front.
For the woman who owns a small business this can create an inordinate amount of stress having this debt hanging over her head. And in the case of putting personal property up as collateral, if the business fails she stands a good chance of losing her home along with her failed business.
Small business grants for women are not subject to repayment. That’s right, once you have the grant you are not required to pay it back which can make starting and running a business much easier. This gives the woman business owner the opportunity to concentrate on growing her business without worrying about paying back any money she may have borrowed. It is important to use the money for what it was intended for otherwise there is a risk of being censured and even penalized to the point that you can be black listed from receiving government business grants.
Here are four quick tips to help find and receive grants for women owned businesses.
1. Use the Internet – The are a abundance of websites that will help you not only find government grants that meet your specific needs they also provide the necessary information you need to successfully apply for and receive this free money.
2. Research – Be sure to thoroughly research each grant and granting agency to find out what their requirements are. There literally grants available for just about everything, from starting a business to paying for college so it is important to target those that meet your goals.
3. Have a Business Plan – This can be one of the most important parts of applying for a business grant for women. This is your road map for success and any grant giving institution will want to see one.
4. Hire an Accountant or Attorney – Getting professional help from someone who is schooled in the world of applying for government grants can pay big dividends. It may cost up front but this cost can be worth thousands of dollars in successful grant requests.
Every year the government gives away millions of dollars in grants for women in business. What better way to start a new business or grow an existing business then with free money that leaves you free to concentrate on making money.