Why Business Grants Will Never Go Out of Style
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Business grants were originally created by federal and local governments to provide financial assistance to entrepreneurs and business owners. The goal was and still is to help stimulate the national and local economy, and to help fund research that will help a certain industry. In more recent years, non-profit organizations and major corporations began to give out business grants. They had similar goals, but also found that giving away grant money is great for public relations and is a great tax write-off.
For nearly 100 years now, business grants have helped thousands of individuals across the country either start or expand an existing business. Some business grants have even provided free tools and services (software, hardware, consulting, coaching, etc) to underrepresented minorities and disadvantaged women who want to start businesses.
Many are concerned though that a bad economy might lead to the end of business grants. They reason that companies will no longer be able to afford to give money away, and that government agencies will reallocate funds to more needy issues. That reasoning, however, is mostly false.
The good thing about business grants is that, unlike business loans, they will never go out of style. Remember that business loans are given by greedy companies looking to make a profit. Business grants, on the other hand, are given as charitable gifts. Their availability is not as dependent on the economy, and because they never have to be repaid – they don’t and never did pose any risk to the grantor. Even more, business grants are great tax write-offs for major corporations – even if they are doing bad financially. Granted, some companies will reduce the amount of grants that they give out – but they generally won’t terminate the program completely.
Government agencies too may reallocate some of the funds that normally were for business grants, but their business grant programs will always exist. This is because local and federal government officials realize that small businesses drive the economy and create jobs. They would dare not destroy programs that can help small businesses thrive – especially during a recession.
Therefore, don’t give up in your search for the business grant that is right for you. They are still out there, and many entrepreneurs are receiving such assistance every single year. To find relevant opportunities, remember to check the web sites of all major companies and smaller companies. You also want to check with your local city, county, and state government offices.
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