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Grants for Self Employment

If you want to pursue self employment, you will have to know where you look for grants. It is not that hard as long as you surf the web.

Take your time in filing applications so that you can get the needed financial assistance.

Because of the economic slump several years ago, people have become concerned about job security. Most of them are thinking about starting their own business but due to lack of capital, they may never be able to realize their dreams and live a decent life. First and foremost, you have to decide on the business that you want to enter. It should be something that you’re interested in or passionate about. It wouldn’t be a great idea to start a business that you don’t even like! For instance, if you love sports, then you can sell sports stuff or items.

Concerns of a Businessperson

Capital is a major concern but if you’re determined to succeed, you will be willing to look for various resources like that of government grants. In order to get grant money, you should be a qualified applicant. Determine the eligibility requirements and if you think that you can make it, then go ahead. You can use the money to cover all financial aspects of the business until you get it running. Keep in mind that the government will monitor where the funds are going, so you’d better prepare the needed documentation. The good thing about grants is that you don’t have to repay the government. Isn’t this great news to potential business owners?

Where to Get Grants?

If you’re looking for additional ways to get a grant, you can also check with SBA or small business administration. The SBA does not award grants directly to recipients. There is a need to contact other agencies that are extending financial assistance. Here are other places where you can find grants:

  • Nonprofit organizations
  • Private companies
  • Local groups

A small venture can still cost you considerable sum of money. It pays to get grants so that you don’t have to exhaust your personal savings. A business plan is very important if you’re planning to apply for a grant. You have to prepare a comprehensive and viable plan to attract funding. Just in case you have an existing business and you want to expand, you can also apply for grants. Some college students these days are already managing their own small business, online or locally. All it takes is the right attitude, knowledge, and skills. You can apply for a university grant if you’re still studying. Take your time in looking for the right grants that will suit the business that you want to open. There is extreme competition online and you have to make sure that you can keep up with the ever changing demands of the market.

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4 Comments

  • saurabh srivastava said on November 28, 2011
    it was nice and informative article. at present I am running a advertising agency on partnership basis. now i want to expand my business and i want to install a flex cum vinyl printing machine. for that purpose i need financial assistance from any reputed funding agency. i want to the required and needed procedures to follow in order to expand my business.
  • paul omongin said on February 6, 2013
    dear friend, i am presently employing my self in local chicken keeping. its sustainable but i would like to expand it by building some structures, and also need to establish a small hatchery to be powered by solar. if i achieve this , i will run a community local chicken improvement center which will do cross breeding. do support me as together we build each other.
  • okello kirk joseph said on January 13, 2014
    kindly give me a loan of ksh.800,000.my phone no. 254700841028
  • Arun maheshwari said on November 12, 2014
    We are manufacturer of herbal and food processing products in Haridwar Uttarakhand we want some help for expend our business

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