Government Grants for Opening a Small Business

There are those that are content working for someone else for their entire life… then there are those that dream of having their own business. If you are the later, then one of the most important things you must do is procure the capital. There are many places to turn – private investors, banks, family – but one you should be sure to investigate is federal grants to start a small business. The type of grant will depend largely on the type of business you are wanting. Some examples:

  • Agricultural. Various US government grants for small businesses are specifically for the farming industry. They include land grants, rural economic research grants, agricultural research grants and animal health and disease research just to name a few.

  • Technological. Federal grants to start a small business can be useful in the computer and information science and engineering industries. These type grants are often referred to as Project Grants. Funds are provided to pay for the advancement of a specific project’s research. Once such program is found at by the National Science Foundation. There are others dealing with issues such as Biomass Energy and Renewable Energy Systems.

  • Medical. Often grants in the medical industry enable specific research. For example, the National Institute of Nursing Office working under the Department of health and Human Services Agency supports nursing research.

  • Services. Federal grants to start a small business extend to many types of services: Employment Services, Education Services, Homeland Security Research, Inspection Services and the list goes on and on.

Besides industry specific grants, there are also government grants for opening a small business that are for specific types of business hopefuls. There are grants for Veterans, Minorities, Disabled Veterans, Women, Senior Citizens, International, Native American, and so on.

Grants for opening a business, or to support some disadvantaged businesses, can be a feasible way to get your venture off the ground and keep it there. Whether the assistance is in the form of grant money, a loan guarantee, a direct loan, or counseling, training and technical assistance, it may very well make the difference between your small business prospering or failing.

Some of the application processes and requirements can be challenging and tedious, but in the end it will be worth it. As Tom Hanks once said, “If it wasn’t hard, everyone would do it. It’s the hard that makes it great.”

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