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How to Find Out About Government Grants
Currently, the website www.Grants.gov lists that over 400 billion dollars in federal grant money are made available to groups looking for loans to start up businesses. Unfortunately, obtaining those funds may be somewhat harder than expected as those kinds of funds are usually given to businesses working in a non-profit setting as well as other specialized services (also non-profit) that help the community at large. Though many advertisements foster the belief that locating such grants can be as easy as writing a letter to an appointed official, the competition for these allowances are widespread, meaning that the work that must goes towards obtaining a grant lies beyond simple letter writing.
Where to Start Looking for Government Grant Applications?
The one website most quoted as the starting point in finding a specific grant lies at www.Grants.gov. Here, anyone looking for grants for prospective business projects can be directed to specific federal grant-making agencies as well as different types of grants made available to the public. Also listed are specific resources associated with grants offering help towards those writing grant proposals and reporting the latest press releases concerning new grant opportunities. After registering on site, grant application forms can be obtained via a Funding Opportunity or CFDA (Catalog of Federal Domestic Assistance) number through the site. It is imperative to make no delays once the specific grant package is found as most grant opportunities listed are not kept in circulation year round.
Writing and Developing Grant Proposals
A grant proposal is essentially the key to unlocking finances for a business venture. Because writing the proposal is a task not to be taken lightly, making a strong case for support to persuade those in charge will make all the difference. It is important to research heavily by making sure a potential business idea has not already been proposed to government officials. Receiving strong support from the community will also serve to strengthen any proposal. This can be obtained through affiliation support and endorsement letters from different organizations that are willing to support the proposed business. Additionally, attending grant writing workshops and/or seminars may help overcome any problems during the writing process.
Another method in securing funds for business projects involves government contracting. Similar to receiving a grant, government contracting involves selling products or services for which the government pays. The United States federal government remains the top buyer when it comes to contracting. Small businesses working for profit in some cases stand a greater chance of becoming contracted through the government in this regard. In cases of government contracting a small business looking to place a bid must first adhere to the qualifications laid forth by the SBA (Small Business Administration). Afterward, bids are sent out by the independently owned business with the lowest bidder usually being awarded the government contract.