Business Starting Grants

What are the first steps to starting up a business.is there any grants available or financial help.?

I will be qualified as a counsellor next year and would like to set up on my own but don't really know how to go about it.

Public Comments

1. Starting a small business takes a lot of courage. But, as they say, courage does not pay the bills. To be successful – to stay in business – you need more than courage. You need a combination of hard work, skill, perseverance, and lots of luck. Some things you need to consider: - "How can I support my family while I build up by business?" - "What are my abilities?" - "Is there a market for the product or service I have chosen?" - "How long will it take this business to reach the financial goal I have?" You may want to read the article "How to Start a New Business Successfully" http://www.powerhomebiz.com/vol51/launch.htm , which lists six steps to launch a new business successfully: 1. Provide a benefit. 2. Determine the fit with your market. 3. Right timing is everything 4. Be ready to support your business 5. Develop a blueprint for success 6. Market, market, market I recommend that you read the following books: - What No One Ever Tells You About Starting Your Own Business : Real Life Start-Up Advice from 101 Successful Entrepreneurs - Starting From Scratch: How To Start A Business When You Don't Have Money - If You're Clueless About Starting Your Own Business and Want to Know More - On the Move : How to Succeed and Survive As an Entrepreneur - How to Make 1000 Mistakes in Business and Still Succeed 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) http://www.cfda.gov and Grants.gov http://www.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 http://www.sba.gov/expanding/grants.html "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 http://www.sba.gov/financing 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. http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show 11.800 DOC Minority Business Enterprise Centers 14.132 HUD Mortgage Insurance_Purchase of Sales-Type Cooperative Housing Units 14.155 HUD Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects 14.197 HUD Multifamily Assisted Housing Reform and Affordability Act 20.907 DOT Minority Institutions 59.007 SBA 7(j) Technical Assistance 59.012 SBA Small Business Loans 59.026 SBA Service Corps of Retired Executives Association 59.041 SBA Certified Development Company Loans (504 Loans) 59.043 SBA Women's Business Ownership Assistance 59.046 SBA Microloan Program 59.050 SBA Microenterprise Development Grants 81.036 DOE Inventions and Innovations 81.105 DOE National Industrial Competitiveness through Energy, Environment, and Economics 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 For private grants, you may want to check the Foundation Center's Foundation Grants for Individuals Online. It's a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for "students, artists, academic researchers, libraries and financial aid offices." Entrepreneurs are apparently not one of them, so I take it they also don't have listings of private foundations who give grants to would-be entrepreneurs. http://www.cfda.gov http://www.grants.gov http://gtionline.fdncenter.org http://www.powerhomebiz.com/vol66/grants.htm http://www.sba.gov/expanding/grants.html
2. read the "emyth revisited" by michael e. gerber if you are contemplating going into business for yourself. it is an inspirational read and this book will save you a lot of time and energy. it is a must read and essential edition to any business library.
3. ofcourse, these days there are plenty of banks that will give u out loans for a start-ups Approach some banks, they will help u out.