Government Grants New Business – Oasis or Mirage?

As you are starting up a small business and begin to run out of money, free government grants for your new business, can seem like an oasis in the desert.  The problem is they may also be a mirage if you don’t know what you are doing, or are running short on time.

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Free money is rarely free.  Your goals must align with the goals of the federal agency giving away the money.  There is time involved for writing and revising the grant.  Grants have proposal deadlines and cycles that you must abide by.  And you may have to beat out the competition.

That said, if you have a business that the government is interested in, the kind that is perhaps non-profit, or can provide new jobs to disadvantaged workers, or develops new technology or ideas grants may be great for you.  In addition, you want to pay attention to grants that are out there on a regular basis.  Scope the field to find a match early.  Many grants are on a first come basis, so you want to be prepared to be first or at least early.

You also want to have time to fill out applications and revise applications.  You need to have time to call up and follow up with the grant agencies.  People forget that rapport is important in this kind of deal.  Yes, they are government agencies, but they still have gatekeepers and people on the inside who are “in the know.”  Build relationships.  Follow-up.

Don’t just put in your application and sit back.  If you politely build a relationship with the gatekeeper or the agency, you may find out some information to revise your grant and make it look better. Don’t be pushy, just friendly and inquisitive.  This is the government, and despite all language to the contrary, people are still people and are more likely to give money to others they know and are friendly with than random strangers.

Do your research.  Grants are not something you go out and see today, apply, and get tomorrow.  If you have the time to put in the time, energy, and effort expended, grants may be an oasis in the desert for you.  If not they are just a mirage.  Good Luck!

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