Assignment: Small-Business Grants
Small-business grants for entrepreneurs are essentially interest-free financing, as opposed to business credit cards or small-business loans that must be paid back. This, however, does not mean it is "free money" as there are expectations and contracts involved. You must do what you said you would do in your proposal.
Understandably, the competition for small-business grants is fierce, and it takes considerable time and effort to win them. But if a person is up for the challenge, the payoff can be worth it.
From the federal government entities to economic development agencies, here's a list of resources where a small business owner/entrepreneur might find business grants-many of them targeted to women.
o Grants Gov
o Small Business Innovation Research and Technology Transfer Programs (SBIR/STTR)
o The Girlboss Foundation Grant
o Women's Business Centers
o Economic Development Administration
o Visa Everywhere initiative
o Small Business Development Centers
o Amber Grant
o Chase Main Street Grant
o Eileen Fisher Women-Owned Business Grant
o Fedex Small Business Grant
o National Association for the Self-Employed
I. Choose three of the above listed resources and write a report describing the following for each:
a. Is the resource available to everyone? If not, who can apply? For whom is the resource best suited?
b. What is the process for getting financial support from this resource? (Be specific)
c. How likely is it that the requested funds will be awarded?
d. How much money can an entrepreneur expect from this resource?
e. What is expected in return for the funding from this resource? (Does the entity require reporting, accounting, endorsements, product?)
f. Discuss the pros and cons related to asking for/receiving funding from this resource. (i.e. what the advantages of this source are to the entrepreneur and what the disadvantages of this source are to the entrepreneur)
g. Is this source debt, equity, or neither?
II. Find financial resources tailored specifically to:
a. veterans
b. minorities
c. older entrepreneurs
List what you find, including amounts that are available for requests.
Format your assignment according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.