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Government grants tend to be highly competitive and specialized, so finding one that closely fits your business's circumstances can be a huge advantage.
Getting a government grant can be like hitting the jackpot. You can get money for your business without any of the burdensome debt obligations that usually go with it. Who doesn’t like free money?
But where do you find them?
While federal small business grants tend to be the most well-known, government grants exist on the state and local levels as well. As grants tend to be highly competitive, finding one that closely fits your business’s circumstances can be a huge advantage. Below, we’ll look into some of the grant programs offered by the government and where you can find them.
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When you take all levels of government into account, there is an overwhelming number of grant programs available to small businesses. As grants tend to be specialized, the trick is usually finding ones that fit the nature of your business. Below are some popular grant programs for small businesses.
The SBIR and STTR are federal programs designed to help small businesses engage in research and development and connect them to nonprofit research institutions. Basically, the government is looking for businesses that might be able to commercialize scientific discoveries.
Many federal agencies ranging from the Environmental Protection Agency to the Department of Defense participate in the SBIR Program. Just be aware that these grants tend to be highly competitive.
The State Trade Expansion Program (STEP) is aimed at helping small businesses export their products to other countries. Though technically an SBA program, funding is sent by the federal agency to state-level organizations, which then decide how the funds will ultimately be used.
This often takes the form of grants to businesses that are looking to expand their customer base beyond the border.
Government small business grants can be found at every level, from federal all the way down to municipal. Most government entities will have information listed about the grants they offer somewhere, but not every state or town puts that information in the same place.
Still, with some googling and a general idea of where to look, you should be able to track down all but the most elusive government grants.
The internet tends to be the resource of first resort, and for good reason — there’s a lot of useful information on it. Further, many grants have online applications, so linking up with the appropriate site can save you a lot of time and effort.
Here’s where you’ll probably want to start looking:
Unfortunately, the more well-advertised a grant opportunity is, the more competition it’s likely to have. If it’s on a website, anyone can find it just as easily as you did.
However, sometimes you can get ahead of the game by keeping your ear to the ground in your local community. You may be able to unearth some lesser-known grant opportunities this way.
Here are some possible ways to go about it:
The major downside to grants is that there is often tremendous amounts of competition for all that free money. Getting a grant can be a time-consuming process with multiple steps and plenty of ways to disqualify yourself accidentally.
If you want to increase your chances of standing out amongst the crowd of applicants, you’ll want to make sure you provide all the information the grant application asks you for. Blank spaces are one of the easiest ways for screeners to weed out applicants.
At the same time, you’ll also want to think of ways in which your business could be uniquely qualified for the grant money. You can accomplish that by standing out from the crowd and being very specific about how you plan to use the funds.
For a more in-depth look at grant applications, check out our top tips for writing a business grant application.
Finding the right grant opportunity for your business can be a time-consuming process, but you can save yourself some frustration by taking advantage of the resources we looked at above.
Looking for more information about business grants? Check out our feature on business grants and taxes. Need information on targeted grants? We can help you get started with our grant guides for veterans, minorities, or women.
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