Starting a restaurant or cafe is an expensive venture, which is why many people never realize their dream. If you want to build your own business in the food industry, but lack the capital, you should consider applying for a government small business grant. These grants are essentially free money to start your business… unlike loans there is no interest and you don’t have to pay them back. Getting Started The first thing you should do when applying for a government small business grant is determine your budget. How much do you need in order to start your restaurant? This will help decide which grants to apply for and will also determine how many you need. You may have some of the money already, but it can’t hurt to apply for more grants than you really need, since competition can be stiff and you aren’t guaranteed to get any of them. Next, you’ll need to find a good source of government grant listings. There are over 2,000 grants in general available in the US, so you want to find a website that lists them all so you can be sure to check out all of your options. There are a number of specialized grants and while you may wish to apply for the more general ones, as well, these can be your best bet. Often they are for slightly less money, but it is easier to get them, so it’s a good tradeoff. Look for a government small business grant that will give you everything you need. For example, you might find one that is geared toward the food industry or even toward your particular type of restaurant or cafe. These will have less competition, so they are good ones to go for. However, don’t rule out those that are merely for small business in general. If you are a woman, single parent or minority, these may also be qualifications that you can use to narrow your search. Applying for the Government Small Business Grant In order to get that grant money, you’ll need to apply. Most grant applications are fairly detailed because they want to know exactly what you will be using the money for and why. Be prepared to offer up a business plan, a budget and any other information that is required. You’ll need to give them your reasons for requesting the grant money and be sure to get very detailed. The more details you give, the easier it will be for the powers that be to choose you over the next person who skipped a few too many numbers in his or her application. If yours looks better, you’ll be moved to the top of the list. It can be time consuming to fill out a government grant application, particularly if you aren’t certain how to go about it. However, if you have a good tutorial (often found on sites where you find extensive listings of government grants) on how to fill everything out and what is expected, it shouldn’t be too difficult. For those who really don’t have the time, there are grant writers available who have the experience necessary to turn out timely and professional applications that will catch the eyes of those making the decisions. Getting a government grant isn’t just a matter of luck. You can greatly improve your odds by providing top quality information, filling out the application correctly and, of course, being sure to select a government small business grant which has as little competition as possible. Do that and you have a very good chance of getting the money to make your restaurant dream a reality at long last.
By: jamiehanson
Archive for November, 2009
Small Business Grant Money for All
November 30th, 2009This article will take about how to find and obtain small business grant money. As growing niche in this country, owners of small businesses are increasing their efforts in applying and obtaining these loans. The reason for this trend is that people realize they need the federal government to help them out, thus, keeping their businesses afloat and to fulfill the “American Dream.”
In fact, the primary reason that most businesses fail within a few years, is due to the lack of capital vested or available in the business. By these small business owners apply for and receiving these grants, they will get a new lease of life.
Yes, my friends, the grant money to keep your small business up and running is out there – waiting for you to find and grab it! Of course, this easier said than done and you do not know where to look. If you do not know where to look, try Internet search engines, such as Yahoo, Google and AskJeeves. These search engines will guide you to the right places to find and apply for grant money.
Once you have found the grant(s) that you are looking for, apply for them, complete all the necessary info and submit them to the appropriate agency or agencies. Also, make sure that you do qualify for these grants since your application(s) will be rejected, if you do not meet the grant program’s requirements. Reading and not reading the fine print can mean the difference in whether you will receive a grant or no.
Moreover, the grant application process gives you the chance to outline your goals and needs for the company, including on how it will be operated. All of this must be included in the grant proposal, for it to be a success!
Also, for all small business loans that are funded by the federal government, the criteria for the acceptance of these grants does vary, from agency to agency. That is why you should read and review the application(s) carefully before submitting them, to ensure their accuracy. Remember, obtaining these grants takes a long time to be granted and to receive, so patience is the key.
In short, small business grants are not easy to come by and if you can find another source of capital to keep your business afloat, during the grant process, it is best to do so. But if you do receive a small business grant, make it last for as long as possible, since you another one is not guaranteed to come your way.
By: Lance Thorington
Guide to Getting Small Business Grants
November 25th, 2009Do You Know that Small Business Grants Can be Waiting for You Almost ‘Round the Corner’?
We are living in the times when governments understand the value of small businesses for the global economy. Small businesses are the pushers and testing grounds for new trends, they provide lots of jobs for the masses, they make any society more stable and happy. So governments have created special funds, programs, associations to provide government grants for small business.
You can be surprised to find out that there are so many types of grants that you can be missing and that can help you out almost instantly – minority small business grants, small business grants for woman, federal grants for small business, business start up grants and even free small business grants. All these types of grants act as a real proof that they really help many small businesses to succeed.
There are two typical issues about getting small business grants.
(1) WHERE to Get Small Business Grants.
Start with doing local search for ’small business grants’, ’small business bank loans’, ‘venture funds’ and ‘angel investors’. This will give you a pretty big list of places to apply for help.
If you are in the USA – there are some majors that provide this type of financial assistance – for example, Small Business Administration (SBA) that has many departments that fit all possible types of businesses or help. It can also be wise to check the catalogue of Federal Domestic Assistance – there you can find many good places to apply for the grants.
For businesses outside US there is also a way to succeed. Government, public or private organizations in your country must be giving some help to new small businesses within the framework of these institutions:
- economic development programs, funds, departments, opportunities, initiatives; – banks (usually they have special small business loans and programs); – venture funds, companies, firms; – credit partnerships; – angel investors (this type of business got very popular recently).
The list is big, but it means that you do not need to trust one business grant opportunity. The more opportunities, the better for you!
(2) HOW to Get Small Business Grants.
There is no magic formula to safe getting of grants.
But you can increase your chances using these simple tips.
Build a good business plan. Surely you are starting your business with some plan, but here you need to be very convincing, well-prepared to any questions. People who read this plan must understand and feel that the only element necessary for your success is the money, the grant.
Keep in good contact with your grant agent (manager, officer, anyone who is in charge of all details). Don’t be a pusher, but make sure that you are in control of the situation. A lot will depend upon this person, maybe not the final decision, but a lot. Make sure he/she can reach you at any moment. And would be great if you have his/her contact details, the more, the better.
Resource Guide For Small Business Start Up Venture Capital
Small Business Resource Guide. The “How to Where to Guide” for all small business on advice, money, financing, public funding, grants, capital seed, venture capital, networking, product development, research, education, management and start up business plans. Get small business loans and start up capital. US Government and local contacts for Cleveland and Akron Ohio.
Consortium of African-American Organizations Minority businesses, research, education. Information about starting or running a restaurant. Industrial Incubator – Management services, capital, seed, incubator, operations. Bio Enterprise – Business Plans, validation, assess, strategy, capital, seed, venture capital, research, incubator, advice. bio tech. Advice, public funding, manufacturing, operations, product development, info, intellectual, tech. network. Information about structuring a business plan sample plans. Services Offered Advice: Help with big picture management decisions such as how to make or price a product. Assess: Assessment or your business Concept. Management Help to develop managers. Plan Help writing a business plan.
Strategy Thinking or rethinking your business concept works. Validation Making Sure your business concept works. Capital Help Finding debt or equity to capitalize your business. Grants Help finding grants (which you don’t have to repay).Micro Loans and help for very small or start-up business. Public Funding Leading programs tat gets some or all of their money from the Government. Seed Early stage money for business being developed. Venture Capital Investor equity that comes later in a company’s development. Biotech – Biotech or bioscience business help. Incubator Buildings that offer, rent, utilities and technical help to small businesses. Marketing for your future. View Guide
By: Smith & Chen
