GovernmentGrants

Embarking on the entrepreneurial journey often involves navigating obstacles that demand not just creativity but also financial backing. In recognition of these challenges, FedEx introduced the Small Business Grant Contest in 2012, a program designed to uplift innovative small businesses across the United States. This article will unravel the intricacies of this initiative, shedding light on the application process, recounting success stories, and examining what sets the FedEx Small Business Grant Contest apart.   Unveiling the Contest At the heart of the small business ecosystem, the FedEx Small Business Grant Contest emerges as a catalyst for growth. Boasting a total prize pool of $120,500, this contest annually supports 10 small businesses in the U.S. The prizes, ranging from the grand prize of $25,000 to the bronze prize of $7,500, come with additional perks such as credits for FedEx Office print and business services.   Eligibility and Application: A Simple Pathway El...

  Taking a loan is something that may come to your mind first while looking for funding to grow your small business, but it can be challenging to get the money you need. However, do not overlook other possibilities, like grants, which are essentially free money that you are not required to repay provided you are eligible, and utilize it for the purpose for which it was given. The US Small Business Administration (SBA) provides government grants for small businesses through its two programs – Small Business Innovation Research (SBIR), and Small Business Technology Transfer (STTR). The funds are given to small businesses who undertake scientific research that helps meet federal research and development objectives, and have a high potential for commercialization.      Awards by SBIR and STTR range between $50,000 to $250,000, and are generally awarded for a period of six months to one year. The objective of the awards is to help small businesses continue w...