Grants and Programs: How Start-Up Owners Can Get Support for Their Businesses

Written By Tina Martin

Starting a business or growing a young business takes time, effort, and energy. Cash flow is a serious issue for many business owners, especially in the first couple of years when the company is establishing itself. If you’re looking for help to grow your business, grant funding or business support programs can be invaluable, as the tips below will attest.

There are many government-run grants and options to help start-ups grow, compete for government contracts, or simply stay afloat during a crisis. Many corporations run targeted grant programs to help minorities or members of underprivileged groups build successful businesses.

Do the Legal Legwork First

Before you can apply for grant funding, you need to have your business properly set up with a suitable legal structure. You’ll need an LLC operating agreement. LLCs offer limited liability, are flexible, and may have tax advantages, but there’s a lot to learn, so it’s important to seek professional advice.

Top Grants for Small Businesses and Start-Ups

Some of the most interesting grants and support programs available for start-ups and small businesses include:

1. Small Business Innovation Research Program: This grant assists small businesses looking to participate in federal research. It’s aimed at companies that show technical innovation or scientific excellence.
2. U.S. Department of Commerce Minority Business Development Agency: This agency offers programs and grants to support minority-owned businesses. It runs several targeted grants and loans each year.
3. eBay Up and Running Grants: Compared to government grants, this program is slightly easier to apply for. It offers support and educational resources to help eBay sellers grow their business and achieve success.
4. Walmart Local Community Grants: Independent business owners looking for small sums of money may find this program from Walmart and Sam’s Club a simple and accessible option. Local organizations can apply for amounts between $250 and $5,000.
5. Power Forward Small Business Grant: This program is aimed at Black-owned small businesses with up to 25 employees and provides grants of up to $25,000.

The above grants are offered on a national level. There may be many other programs specific to your state or city. Your local chamber of commerce is a good starting point for learning more about the start-up funding in your area.

Apply Only to Programs That Fit Your Business

One common mistake business owners make is casting the net too wide when applying for grants. Don’t waste time and energy on grants that aren’t suitable for your business. Government grants have in-depth and detailed application processes, and it would be a waste of your time to try to win the support you don’t qualify for. Focus on the things that are naturally a good fit for your organization.

Success Takes Time

Growing a start-up isn’t easy, and it can take years of research, effort, and trial and error to achieve success. If you’re unsuccessful in your first few grant applications, don’t lose hope. Ask for feedback, tweak your business plan, apply again, and keep trying until you achieve financial success. In the meantime, investigate every opportunity to grow your business and promote your brand, such as creating your own design logo online free. In any case, keep at it and success will eventually come your way.