Business Grants

Aspiring entrepreneurs aim at receiving business grants for setting up a small business or expand an existing one. Business grants are available from non-governmental sources and cost almost half the time spent in securing federal grants. Corporations are always on the lookout for start-ups and sanction funds for their growth. Non-governmental grants are also offered by various non-profit community organizations, especially if they consider the business to be beneficial to them in terms of creating job opportunities or local development.
Business Grants often depend on the demography or the location. These take the form of direct financial assistance, business coaching service, development, research, marketing service or networking. Usually, established companies offer these grants on the basis of a two-fold purpose. First, this makes them reach previously uncharted territories, and second, it gives them free promotional opportunities. Local communities and organizations come out in aggressive support for these small businesses.
There are various types of Business Grants available to entrepreneurs and small business owners. Direct grants are simple monetary sanctions. A portion of the total cost of the venture is paid. This might be paid one-time or at stages of business development. However, this might be either a free or a repayable grant according to the grant makers. In case the particular business bombs, the amount sanctioned does not have to be repaid. Repayable funds have to be returned once the business breaks even or achieves the projected targets. Although a business running into loses is not required to pay back, there are stringent rules and conditions governing such grants. Loans are also issued. These have reduced interest rates and are spread over a long repayment period.
Business Grants (non-governmental) are available in a number of sectors – farming, irrigation, food production and storage, education, transport and communication, economics, data banks and services, alternative energy, health and medicine including drug research and pharmacy, real estate including construction and housing projects and land development, humanities, science and technology. The reason a small business leans towards Business Grants (non-governmental) is that these are quicker to get and come with specific guidelines. The pressure to perform often produces excellent results with young entrepreneurs.