Running a business is tough enough. Acquiring the appropriate funding only adds to the complexity. The entrepreneur can look to personal assets and friends along with financial institutions for loans. There are also some private investors available if the small business owner knows where to look. But what about a small business grant? What does it take to obtain one? Here are some easy tips for the small business owner:

1.   There are Federal small business grants as well as state small business grants. The entrepreneur should explore both options, but be aware that there are very few Federal small business grant opportunities available. Nonetheless, it would be worth investigating.

2.   Be prepared for a long process. The small business grant process can take up to a year. There is a significant amount of paperwork and follow-up involved. The small business owner should be prepared to take a significant amount of time to complete the paperwork and do the appropriate follow up with the grant agency.

3.   Provide complete and accurate information for the small business grant. Incomplete or inaccurate application information can delay the approval process or completely derail the approval process.

4.   A well-prepared business plan will go a long way. The entrepreneur should be able to clearly explain in the business plan how the small business grant will benefit the government agency. The business plan should also demonstrate how well the entrepreneur understands the business and how the grant monies will be utilized. 

In addition to the business plan, having statements from experts such as accountants, lawyers, and consultants can further enhance the entrepreneur’s credibility.

5.   Know the grant officer and the small business grant process. Ongoing follow-up with the grant officer will help to move the process along. Any follow-up should be professional and should not be too demanding of the grant officer’s time. A simple professional follow-up every couple of weeks should be adequate.

TopGovernmentGrants.com can get the entrepreneur started with the small business grant process. We also provide a listing of all grants from the Catalog of Federal Domestic Assistance (CFDA).  Many grants favor minority business owners or businesses located in rural communities. However there can be grants available for almost any type of business. 

It does take time to research, and some small businesses contract this work to consultants in order to find the right small business grant. Persistence and patience can pay off for those willing to go the distance for a small business grant.

This article was written by Karen Neal, an expert
in the US Government Info category at www.yoexpert.com