I want to see if I can get a grant to start a home internet business but I don’t know where to look?
Terri C in LaPorte asked:
I want to start a home internet business selling speciality merchandise[SMC]. I don’t have the money to buy the website or for advertising etc. I get all those emails about gov. grants to start a home internet business but I haven’t been able to find the right info. Can anyone help me?
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I want to start a home internet business selling speciality merchandise[SMC]. I don’t have the money to buy the website or for advertising etc. I get all those emails about gov. grants to start a home internet business but I haven’t been able to find the right info. Can anyone help me?
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Tags: Business Selling, Smc
July 31st, 2008 at 10:17 am
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You may just have to get a bussiness loan first, then a buy a domain name for a website so you can sell your merchandise. If the site becomes popular, then other companies will start paying you to host their advertisements on your site. Simple as that I guess.
August 3rd, 2008 at 2:53 pm
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It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business. And yes, grants mean PAPERWORK - lots and lots of it, that is why a cottage industry of grant writers was born.
Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) and Grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.
Even if you buy books on “how to get grants” or list that supposedly has information on grants — all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same - hardly any grants for starting a for profit business.
Even SBA does NOT give out grants. From the SBA website
“The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments.”
Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business — THERE’S NONE.
Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program
Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women’s Business Ownership Assistance that are given to those who will create women’s business center that will train women entrepreneurs
I suggest you read the following books to get ideas of how to finance your business:
Financing Your Small Business
Small Business Financing: How and Where To Get It
Financing the Small Business: A Complete Guide to Obtaining Bank Loans and All Other Types of Financing
The SBA Loan Book
Angel Capital : How to Raise Early-Stage Private Equity Financing
Financing Your Small Business (Barron’s Business Library Series)