Getting a tax break through the US government's Business Development Centers (BBDC) can be easier for you and your small business than you think. There are ways to get free government money, but you need to be creative about it. The good news is that the Small Business Administration (SBA) has many different programs for new small businesses. You can qualify to receive grants and assistance, including tax credits, loans, and other miscellaneous business benefits.
What you'll need to do to find the money you need is to visit your local Developmental Service Agency. They have a number of grant programs that you can apply for, and they often have a special program for start-ups. If you don't have a business plan or other requirements to submit, they can help you with that as well. To find out what they need, call your local DSAs.
The SBA offers a lot of grant money, and you can be awarded up to 25 percent of the total cost of establishing the business. You need to find grants that will help you reach your goals, but you need to make sure that your business qualifies. You also need to understand the grant terms before you submit your application.
To find out if you're eligible, you'll need to submit an application. It should be submitted to the nearest regional development office, in any state in America. Contact the SBA's Grants Office and ask them for information about grants. They'll help you navigate the application process and tell you which documents you need to send off for processing. They can give you options about how much money you can get and help you fill out the forms.
Once you've found a few grants that you believe you'd be able to receive, be prepared to spend the necessary time getting your application accepted. Applications can take several months to evaluate, so you should be patient with the process if you want to receive SBA money for your small business. Keep in mind that many of these grants are only available to businesses that are in operation. If you already have a business, you may not qualify. You need to submit proof that you will be able to receive profits from your new venture, or it could be rejected.
In some cases, you'll need to show that your product or service is unique. Have your business plan reviewed by professionals, and include a letter explaining why your product or service is better than that offered by similar companies. Be prepared to explain why your small business is different, and how it will set it apart from similar companies. It can be tough to receive SBA money if you don't have a solid business plan, so you'll need to think hard about it. This grant isn't just money that you'll never see, it can be the start of something much bigger for you.
There are some other ways to find free grant money for your small business. Your local community might have an organization . . . . . . that offers grants for small business owners. Also, if you work for a government agency, you could inquire about getting funding through them. Many cities and counties offer SBA grants to business owners who show an immediate need for financial assistance. As long as you're eligible, you should have no problem getting approved and receiving the money you need.
Remember to apply for grants carefully. Read over all the requirements carefully, and only submit one application if you feel confident that you can meet them. It's best to do it early on in your business career, because these grants are available and you can't wait to receive them. If you can prove through your business plan and your marketing materials that your business will make money immediately, then you'll have a great chance of receiving this grant.