Small businesses are vital to our nation’s economy. Why, did you know they account for more than 50% of our GDP (gross domestic product)? And more than that, it is here that so many new jobs are being continuously generated. If you happen to be part of this and, as an entrepreneur, you would like to expand your business but don’t have the capital to do it, you could use a free small business grants program. Maybe you have a business idea that has great potential, maybe you are at the crossroads where you just need to diversify and get into the next level as far as your business is concerned. But you don’t have the money to get you there. Well, now you can get the money if you really want it.
What are free small business grants? These are grants given by the home state when you need money to start a business or to improve it. All states do not provide free small business grants. The ones that do are Nebraska, New Hampshire, Kansas, New Mexico and Utah. The others usually give you loans or incentives and financial assistance. Some even offer technical training and financing to those who want to start their own small business venture. All it takes to get a free small business grant is a bit of legwork and a little effort.
The DHS or the Department of Homeland Security offers free small business grants to entrepreneurs who would like to start something related to security. Through the Small Business Innovation Research (SBIR), DHS has an award for which US companies with less than 500 people can compete. At first, $100,000 is given to the small businesses in order to do research to validate the technical, commercial and scientific value of their concepts. If their ideas are approved, they get grants for the next two years to develop prototypes. The free small business grants are given in the areas of information technology and marine security and chemical and biological defense.
True the federal government will not give you grants but it assists individuals wanting to start a small business. This is done through its support arm, the SBA (Small Business Administration). Through this, the US gives small businesses attractive loans and technical support. However, no grants are given to those who want to start a business or want to grow their existing businesses. The SBA was started in 1953 and has been responsible for helping so many thousands of Americans start up their own small business. SBA would like to reach the 25 million small businesses in the US today.
Considering how much revenue small businesses are contributing today, it is imperative that we give them the right guidance and assistance. Free small business grants are just a very small well-deserved part in it.
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