A quick guide on how to secure Small Business Grants for single moms
Introduction: Small Business Grants for single moms.
Single moms face a lot of tough challenges raising up a family all alone. Kids need to go to school, bills need to be paid, food must be prepared on the dinner table and silently warming up the family is no easy task. This is why there are quite a number of government grants for single moms available out there. Government grants for single moms is a totally different form of finance source as compared to a household loan. Raising cash will be an issue now and probably in the future. Thus, applying for a grant is always better than raising cash through loans that require repayment and interest payments. How much will be the amount that you might be granted?
Well, over the past few years, people are being granted from a couple thousand to a few hundred thousand depend on the type of grants that they applied for. The government is lenient when it comes to approval of single mom government grants. All you should do is to prove that you’re indeed a single, which is by providing the birth certificates of your children, evidence of divorce or death of the husband and you’re very likely to be rewarded with a grant. Thus, you may want to prove to the department that you really need the grant to improve the quality of life of your family. Case studies have shown that there are indeed people who receive grants from the government for more than one occasion and this might happen to you as well. Because of the widespread of the info that you’re currently reading, the conditions of government grants for single mothers can be tightened.
What are Small Business Grants?
Starting a business right requires that certain driving factors are put in place to ensure the continuity and progress in the right direction of your business. Finance is perhaps the key driving force of every business hence inadequate funding will only lead to the abrupt collapse of your business. In this article, we are going to take you through possible ways to secure a reliable boost to your business, thus possible small business grants.
It is very important to first define the type of business you aim to operate, not every self-business can merit to be called a “small business’’, there are exceptions. Then what is a small business? Small businesses are privately owned cooperation’s, partnerships, or sole proprietorship that have fewer employees and/or less annual revenue than a regular-sized business or corporation. Businesses are defined as “small” in terms of being able to apply for government support and qualify for preferential tax policy varies depending on the country and industry. Small businesses range from fifteen employees under the Australian Fair Work Act 2009, fifty employees according to the definition used by the European Union, and fewer than five thousand employees, to qualify for many U.S. Small Business Administration programs. While small businesses can also be classified according to other methods, such as annual revenues, shipments, sales, assets, or by annual gross or net revenue or net profits, the number of employees is one of the most widely used measures.
Forms of Small businesses
Small businesses in many countries include service or retail operations such as convenience stores, small grocery stores, bakeries or delicatessens, hairdressers or tradespeople (e.g., carpenters, electricians), restaurants, guest houses, photographers, very small-scale manufacturing, and Internet-related businesses such as web design and computer programming. Some professionals operate as small businesses, such as lawyers, accountants, dentists and medical doctors (although these professionals can also work for large organizations or companies). Small businesses vary a great deal in terms of size, revenues, and regulatory authorization, both within a country and from country to country. Some small businesses, such as a home accounting business, may only require a business license. On the other hand, other small businesses, such as daycares, retirement homes and restaurants serving liquor are more heavily regulated and may require inspection and certification from various government authorities.
Great, where do you fall then? Have your business met the criteria above to call it a small business? If yes, then you should know what is termed as a ‘’Grant’’. People perceive the word grant in different interpretations and ways. Grant is simply non-repayable funds or products disbursed or gifted by one party (grantmakers), often a government department, corporation, foundation or trust, to a recipient, often (but not always) a nonprofit entity, educational institution, business or an individual. In order to receive a grant, some form of “Grant Writing” often referred to as either a proposal or an application is required.
Most grants are made to fund a specific project and require some level of compliance and reporting. The grant writing process involves an applicant submitting a proposal (or submission) to a potential funder, either on the applicant’s own initiative or in response to a Request for Proposal from the funder. Other grants can be given to individuals, such as victims of natural disasters or individuals who seek to open a small business. Sometimes grant makers require grant seekers to have some form of tax-exempt status, be a registered nonprofit organization or a local government.
Now knowing what a small business is and also knowing what grants are, we take you to the all-important ways of securing small business grants. Looking at the goodies surrounding a grant it is very important and advisable that small business owners should go the nook and cranny of writing a good proposal that will merit you a grant. A small business without grants can be very tedious to many but the blessing of having grants at your disposal can enhance your operations with utmost ease and efficiency.
Sources of Grants
Securing grants can be sometimes difficult but with the right guidance, things can be done with ease.
The US government if you never knew is a primary source of getting grants for your small business, well, you must know that government grants are funded by our tax dollars. Any grants should be appropriated through The White House and Congress and are in close collaborations with specific agency agendas, examples of which is the Department of Energy or the Department of Agriculture. To further complicate matters, you must also know that the government has very stringent rules about persons it provides grants to and what gains, benefits or impacts those funds can be used for.
It is necessary to know that the government holds some exceptions in disbursing grants, thus there are some features when enveloped in your business will place you in the limelight of rejection from the government. It must be noted that you will be rejected if
- You are challenged with debt and aim to pay off debt with grants
- Covering your business operational expenses
- Also if you are starting or expanding business
Certainly, businesses that are not planned on making any positive impact on society would stand a very tough chance of securing grants from the government. The government through special agencies rigorously peruse through your applications for onwards considerations. Proposals that make much sense( thus impacting positively on the environment, achieving an agenda and creating meaningful employment etc.). Hence in securing a grant from the government, individual and business owners must methodically place their priorities right to stand taller among other proposals to get a grant. Just put in your best to be favoured for your benefit.
It must also be noted that it is possible to secure grants from the following places aside from the government. Grants.gov is Uncle Sam’s central repository and searchable database of over 1,000 different grant programs. To narrow down your search to small business grants, navigate to the “Browse Eligibilities” tab and select “Small Businesses”.
It is also advisable to contact your state economic development agency for information about discretionary incentive grants available. Small business grants are also available from select nonprofits (WomensNet, for example) and corporations, such as the Intuit “Love our Local Business” campaign.
Seekers of grants should always know that the first rule for considerations for grants has always remained it economical, societal and environmental impacts it has on people, hence you should set your composure right and prioritize your development plan to entice any possible guarantor all at your benefit. Just Get Things Right!!!
Characteristics of a Winning Proposal for Small Business Grants for single moms
If the RFP or new opportunity meets ones bid-decision criteria, your task now shifts from deciding, Should we do this proposal? to, How do we write a winning proposal? Whether you are responding to an RFP or initiating the proposal, remember that your overriding purpose is to convince the sponsoring agency that your firm is uniquely qualified to get the grant. From the grant sponsor’s perspective, proposals make it possible to evaluate the skills and capabilities of a select range of small business grant seekers and to choose the best grant seeker for the grant. No matter what type of grant it may be, a winning proposal will always include at least the following elements:
- Evidence that you clearly understand the requirements of the grant. It is astonishing how many proposals show that the submitting firm or person has not taken the time to study the requirements of a grant. Do background research to find out what the grant really requires. You may discover that the there are other important areas the grant hasn’t stated in the press release. This element is so important that it should be first on the proposal team‘s list and be featured prominently in the proposal document. Your ability to identify a pressing problem which should be of interest to sponsors increase your chances of winning the said grant.
- A strategy and program plan that the sponsor feels meet his requirements. The strategy and program plan is the heart of your proposal. The plan describes how you are going to undertake your project and still meet the sponsor’s needs and requirements. You should clearly state how your project would promote the cause of the sponsor while solving yours as well. The proposal must tell sponsors enough without telling them everything.
- Evidence that your firm is reliable and dependable. You can include references or client contacts who will vouch for your firm or you. The new sponsor must have confidence that you will deliver on your promises and will complete make appropriate use of funds within the time and cost estimates you have developed.
- A convincing reason why the sponsor should choose your or your firm over all the other firms competing for the grant. Do you have a better program plan, more expertise in the field, better staff, or some other competitive edge? Highlight this advantage; clients should feel they can‘t afford to do without you.
- Clear documentation of your firm’s qualifications and capabilities for the grant. The sponsor must be convinced that you or your firm has the required expertise and staff to accomplish the project than anyone else. This documentation can take the form of a list of previous grants, projects and résumés of staff members.
- Finally, your proposal for the small business grant should look like a winner. Whether you submit a hard copy or an electronic version of your proposal, the cover, title page, format, and graphics should convey the spirit and professionalism of your company. Take the time to proofread your copy—do not rely on spell-check programs