GovernmentGrants

Small business grants are provided to help you expand, reach out to new customers, and grow . Government agencies are among the biggest distributors of first-time business owner grants, supporting a range of enterprises. Though the grant money is not required to be repaid, it is not a handout, you need to meet certain eligibility criteria to win first time business owner grants. Most grants are awarded to businesses that innovate or contribute to a social cause. These are not immediate, and do not consider them as a short-term funding solution. Small Business Innovation Research (SBIR) and Small Business Technology Transfer Program (STTR) are longstanding funding programs for research-based businesses with potential for commercialization . The US Economic Development Administration provides first time business owner grants , resources, and technical assistance for communities to support entrepreneurship and innovation. If your small business is engaged in scientific research and d

Small business grants are available for many purposes, from starting a venture to helping it run more efficiently, or aiding in its expansion. These are provided for specific purposes, and the application process is generally rigorous and time-consuming. Business grant lifecycle usually consists of three phases, viz. Pre-Award phase, in which the granting authority decides what it wants to fund, and accepts and reviews applications. In the second Award Phase, applicants are informed whether their application has been approved, and the agency works with the applicant to finalize the legal framework for the funding. In the Post-Award Phase, the grants management officer oversees grant compliance during the life of the grant through regular reports. Eventually, the grant is closed, once it is determined that the goal of the grant has been achieved. Though many business grants are offered by federal, state and local governments, and also by private organizations and nonprofits, the