Small Business and Government Grants for Starting a Business

Very often the problem for a budding entrepreneur is the capital while initiating a business. Different types of government grants for starting a business, especially small business, are available as a solution for them. In a highly competitive world where the scope of employment is dwindling pretty consistently, the most plausible alternative is small business that offers the scope of self employment. However, for most budding entrepreneurs the problem is that of getting the capital for running the business. Good news for such people is that the federal government has been providing resources in form of Government Grants for starting a business. Learning about the Programs It would be good for the prospective entrepreneurs to learn about the government grants for starting a business that are available for them. One of the programs is the Federal and State technology partnership program. Objective of this program is to boost as well as strengthen the technological capabilities and competitive vigor of the small business enterprises across the country. Value Added Producer Grants Another program that could come up very handy for the small enterprises is the value added producer grants program. Basic features of the program are as follows. - It is geared towards helping independent producers of agricultural commodities. - Target groups for the program are the agricultural producer groups, majority controlled producer based business enterprises, farmers and ranchers cooperatives, and other community small business enterprises. - Main objectives of the program is to create adequate marketing opportunities as well as to establish efficient business plans that will involve viable marketing opportunities for the small entrepreneurs; and - Involvement of production of bio-based products from the agro based commodities. Other Grants for Small Business In order to facilitate government grants for starting a business, the United States Small Business Administration or SBA was created in the year 1953. It was an independent agency that worked to help small businesses offering aids, counseling, assistance, as well as protection. Another major objective of the concern is to preserve free competitive enterprises in order to maintain as well as strengthen the overall economy of the nation. Most of the programs of the SBA are carried out through the state agencies and they include grants, loans, as well as counseling programs. Major SBA Programs While the government grants for starting a business varies from state to state, the SBA has initiated some common programs. Major programs among them are the followings. - Business Development Program that aims to foster the ownership of business by such individuals who are either socially or economically disadvantages. The objective of the program does not end up with giving grants alone but also promoting the competitive viability of the firms by providing assistances for business development to them. - Technical Assistance Program aims at providing business development assistance and grants to the socially and economically disadvantaged enterprises. Grants and cooperative agreements are provided under the guidance of SBA for such small business organizations. - Disaster assistance loans are provided by the SBA to victims of declared disasters or for uninsured as well as uncompensated physical disasters faced by the business organizations. Various other government grants for starting a business like the procurement assistance to small businesses, small business investment grants; loan guarantees; and surety bond guarantees are also there. If an enterprise is trying to live up in conformity with the law of the land, there is no reason why it will not get the desired government grants to start a business.