With the economy in a tail spin, grants for small business are a hot topic these days! If you are an entrepreneur with a great idea and a small budget – a grant probably seems like the perfect solution…but it’s not quite that easy to get government funding for a business start-up.

To start with, most government grants do come from the US government level – they are usually awarded at the state and local level, and the grant programs are very specific qualifying criteria, with the bulk of the grant money going to education, medical research or community based programs.

To start with – the search process for any grant, but especially for a business grant, can be tedious and time consuming. Finding the right business grant program that you may qualify could take months or longer.

Before you apply for a business grant, you need to make sure your business plan is in order!

A business plan is more than just an overview of your idea – it needs to be concise, detailed and should carry through to at least the first 18 months of operation.  

What is a good business plan?
A good business plan should provide a complete, detailed explanation of your business, your marketing plan, a comprehe

nsive budget, and bios of the founders and other key personnel, and most importantly – a financial forecast for the profitability of your new venture.

As part of the marketing strategy, you will need to be able to accurately describe the market for your product or service, projected price points, potential or existing competition, and your expected revenues for at least the first 18 months, and preferably, the first 36 months.

If you think that government grants are available for anyone that wants to start a business – think again! Small Business Grant Money IS available – but most small business owners will have a difficult time finding the right program without help from a service or Small Business Grant Money professional.

In the case of government grants, the rules are very, very strict – every year, Congress allocates almost $100 million in the form of grants to be distributed to a wide variety of agencies under the Federal Government.