How to Find Free Grant Money to Start Small Business

by Resonna Shaw; Updated September 26, 2017
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Have you ever thought about becoming a self-employed business owner? There are a number of avenues to receive free grant money from public and private sector organizations. These organizations have stipulations to apply for free grant money. Small businesses need a well thought out business plan that outlines the business goals and objectives. Preparation is essential in receiving a grant that could help you start the business of your dreams.

Step 1

Develop a business plan. The business plan gives the grant provider essential information about your business. It gives details such as how you plan to grow your business, how it will be profitable and what its future financial standing might look like. The business plan should also include one- to five-year outlooks and budget information. Explain what portion of the grant money will be used for advertising and materials and so forth.

Step 2

Create a business proposal. A business proposal is used as a marketing tool to sell your business ideas and products and services. Business proposals may contain many elements, but the primary elements are an executive summary, pricing models, market research, demographics and description of your company. For additional information on proposal writing, see the resources list.

Step 3

Search the Internet for free grant funding for small businesses. There are many private, government and nonprofit organizations that provide grant funding to small businesses. Grants.gov has many grants available for small businesses and Foundationcenter.org has a listing of nonprofit grants. Also, visit your local library to find books on free grant funding. Join small business network groups. Sometimes, your acquaintances will have connections to help you accomplish your goal.

Step 4

Submit your application, business plan and proposal to the government, private sector, nonprofit and charitable organizations that have grant opportunities. Your business plan shouldn’t change, but you will have to adjust your proposal to fulfill each grant's guidelines.

About the Author

Resonna Shaw has been a writer since 2008, for personal enjoyment and for various websites. Shaw holds a bachelor's degree in human resources from DeVry University and is currently pursuing a Master of Business Administration at Keller University.

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