If you’re starting a business, nothing sounds better than the words “free money.” Although free money in the form of small business grants seems impossible to get, your odds of getting that money increase dramatically if you know how to go about it. The government often has money for small business start-ups but you have to first know how to apply for the money and what the requirements are. This is easier than you might think; below are some ways to get your hands on that free money for your business.
- Make Sure That You Understand the Correct Phrases and Terminology
There are many terms that you have to understand before you apply for any type of grant and one of the easiest ways is to learn which phrases to look for during your research. This includes words such as contributions, subsidies, awards, shared costs, rebates, and tax credits, among others. The words “free money” may not be how the grants are described so look for other terms and phrases instead.
- Know Your Business Well
Grants for small businesses usually require that you spend the money on something specific and there are certain businesses that get free grants more often than others. This means that you need to be familiar with your business and make certain that the grant you’re applying for is looking for that type of business. For instance, retail businesses rarely qualify for business grants whereas businesses located in certain areas of the country may qualify for the grants much more quickly.
- Look for the Money Within Your Industry
The government has websites that will tell you the classification code for your industry and this is a great way to start looking for that free money. Learn more about Ontario grants for small businesses on https://www.oce-ontario.org/. Many small business grants can be found by looking to organizations that help or assist your particular industry. They are often the first source to search for these grants because their number-one goal is to help your type of business grow and thrive.
- Prepare Your Business to Be Accepted
If you’re not sure which types of businesses are more conducive to getting free grant money, do a little research online. Often, businesses such as alternative energy and exporting are businesses that can easily qualify for a grant. Think of it this way: the government provides most of these grants and they do so to encourage certain types of businesses to expand. Learn what those businesses are to increase the odds that you’ll get some free money for assistance.
- Research, Research, Research
The more you learn about small business grants, the easier it will be to find them. This takes a lot of research. The government has hub sites that make it easy to learn about the various types of grants and you can get started by researching “government business financing” online. Government assistance pages can also help; even though you may have to visit numerous websites to get the information that you need, it will be worth it in the end once the money is in your hands.
