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Having your own business can be one of the most life changing experiences you will ever have. The great sacrifice and hard work necessary in the be And more importantly entrepreneuring is the surest way to accumulate financial wealth in our society. About 66% of millionaires got that way by working for and not by inheriting their money did it by having their own business.
It will probably be difficult to get all you need with a grant. It is not impossible. Grants for business are there but they are hard to come by.
When you are looking for money you should make sure that you investigate every possible source of financial assistance. There are organizations that will even lend entrepreneurs money even if they have no money or bad credit.
When you start investigating how to get money for your business ask for "financial assistance programs" and don't ask for "grants". You may be able to apply for venture capital, loans you don't have to pay back or even direct payments. Ninety percent of all free money the government gives out is not called grants.
Investigate and apply for all financial assistance programs. You never know what they might give you money for. It doesn't hurt to ask. The worst that can happen is that they say "NO".
Also keep in mind that it is always good to have more than one way to get to your goal. I actually believe that when we start on a venture there is no one perfect way to get there and you can't even design the correct path until you get there. We each have to start on the best of the choices that are before us and follow that path until you see a better path. And I believe that you will see a better path once you start. So, here is where you start:
Members of the Association for Enterprise Opportunity provide free and low cost assistance and training, as well as financial assistance, to underserved populations who want to start a business including "people with low incomes and welfare recipients". Contact: Association for Enterprise Opportunity, 1601 North Kent Street, Suite 1101, Arlington, VA 22209; 703-841-7760; Fax: 703-841-7748; http://www.aeoworks.org/index.php/site/page/category/find/.
Over 500 programs run by nonprofit organizations will give you up to $5 for every $1 you place into a savings account that is used to complete a life goal like education, housing , starting a business, or even transportation. They are called Individual Development Accounts and they are designed for people with little money to save. You can make up to $60,000 and still qualify. To find a program near you contact the IDA Network. Contact: IDA Network, Corporation for Enterprise Development, 777 N Capitol St NE, Suite 800, Washington, DC 20002; 202-408-9788; http://cfed.org/programs/idas/
Minority and women-owned businesses succeed can access microloans at competitive rates, receive contract procurement and RFP announcements, assistance in accessing capital markets, SBA8(a) certification assistance, education and training, consulting and needs assessments, participate in purchasing exchanges and more. Contact: National Minority Business Council, 25 West 45th Street, Suite 301, New York, NY 10036; 212-997-4753; Fax: 212-997-5102; www.nmbc.org; Email: firstname.lastname@example.org;
Every state has a number of money programs for people to start or expand a business in their state. Governors compete with other governors to see who can create the most jobs, and that's why they offer money for people who create jobs in their state. You don't even have to be a resident of the state. You can live in one state and put your business in a state that offers you more money. States also offer special money for entrepreneurs to put their business in certain areas of the state or in certain areas of a city. There are also other money programs to build buildings or renovate old buildings. Some of this money comes from federal sources which is given to the states and distributed to entrepreneurs in the state. Other money is generated from local taxes. And some states use the winnings from their lottery money to give to entrepreneurs to create or expand businesses.
Many states offer programs from more than one agency. So it may take some time to find all the programs in a given state. A good place to start is your State Government Office of Economic Development located in your state capital. Contact your state at: California Business Portal at www.calbusiness.ca.gov
You can actually get up to $1,000,000 in grants and or loans to open or expand a business from the U.S. Federal Government alone. There are over 100 different money programs available from offices ranging from the U.S. Small Business Administration to the U.S. Department of Agriculture to the U.S. Department of Commerce. For the best source identifying all federal only government money programs available, look at a government published book called The Catalog of Federal Domestic Assistance published by the U.S. Government Printing Office (www.gpo.gov) or look at it for free on the web at www.cfda.gov. Another good starting place to find anything in the federal government is a free service called the Federal Information Center at 1-800-FED-INFO or www.pueblo.gsa.gov/call
The California Small Business Administration Office delivers a variety of programs and services, such as startup and operational assistance through small business training and counseling, financial assistance for startups, operational and disaster help, business opportunities, such as government contracting, subcontracting, procurement, and much more. For information on how the Small Business Administration programs maybe of help to you contact: Small Business Administration (SBA), Los Angeles District Office, 330 N. Brand, Suite 1200, Glendale, CA 91203, 818-552-3210 or 818-522-3260, www.sba.gov/ca
The government will give you:
The money is in the form of tax credits on your federal and/or your state income taxes. If you are paying any taxes then this is truly free money because it is taken right off your tax bill. To find out about every tax credit at your state level contact your state Department of Revenue by calling 411 and asking for the state capital operator, or go to www.govengine.com and click on your state and start looking for the Department of Revenue. For information on all federal tax credits contact Internal Revenue Service; 202-622-5000 or 800-829-1040 (Business Tax Questions) or go to www.irs.ustreas.gov/formspubs/. You can also turn to the California Development office for help: A good place to start is your State Government Office of Economic Development located in your state capital. Contact your state at: California Business Portal at www.calbusiness.ca.gov
Remember, these are just starting places. We have an entire book and DVD training program on this called Free Money For Entrepreneurs and you can check our website, www.myamericanbenefitsplan.com, and look under Business for more sources.
It is important to follow up as many sources as possible and if those sources cannot help you ask them for leads on who can. Also keep your mind open to other opportunities you never even thought about as you are investigating these sources. Maybe you can rent someone's existing business and give them part of the money you bring in. This way you learn how to get customers and run a business without having to pay for everything. The most important part of starting any business is getting a customer. Without that you are not in business.
Good luck and keep your dream alive. And keep finding more ways to fan the fire when the flames start to dwindle.
Matthew LeskoBest Selling Author and Entrepreneurwww.lesko.com