As we have discussed previously on this blog, securing the necessary funding is one of the integral steps in starting your own business. Starting a business is challenging, and many entrepreneurs can use all the help they can get. This is why the Small Business Administration (SBA) is making an effort to help some organizations to be better able to help small businesses that are at a disadvantage.
Recently, the SBA announced that it is making $1.5 million in grant funding available to service providers to help give assistance to small disadvantaged businesses. According to a press release on the SBA website, both for-profit and non-profit organizations that have been in continual existence for at least three years are eligible to apply for the grant money.
The goal behind the issuing of these grants is to make resources available to business that might not otherwise be able to receive them. This could include education for executives, and training and tools to help promote business development. This effort may be able to provide assistance to eligible businesses in the areas of obtaining funding, federal contracting, and more.
The release details that there will be anywhere from 6-10 grants awarded. The grants will range from $150,000-$250,000. Qualified organizations have until July 20 to apply for the grants, which will be issued by the end of September of this year.
Starting a business can be a great move for many different types of people with varying backgrounds. Researching and making use of available resources can be an important step on the path to success.
There are many other considerations to account for as you go about establishing your venture. An online incorporation services provider is a trusted resource for everything you need to know about incorporating your business.