Grants for small businesses

[Sotherefore]

Grant is a sum of money that is given by the government to a group of business men and women who are interested to start up a business or to people who do not have the opportunity to raise their own capital to start a business, Apart from the government there are other organisation that gives out loan for people who are interested , some are international while some are within the country..

Grant is just the best and the quickest way you can raise money to start up a business than getting a loan..
There are ways you can increase the possibility of securing a grant to start up a business which includes
1) following up an update from Grant giving organisations.

2) having a good identification document.


1) FOLLOWING UP AN UPDATE FROM A GRANT-GIVING ORGANISATION: This is one of the quickest and shortest way of applying for grants , if you are able to keep proper update of every event that is happening in any government or private organisation that gives out grants , There will be high possibility of applying at the right time which can increase your chance of you being selected.

2) HAVING A GOOD IDENTIFICATION DOCUMENTS : Most organisation who gives out grants to people will always need a good means of identification, having a national identification document or international passport can increase your possibility of securing a grant whenever an opportunity arises.

 

[moonchild]

Grants are good initiatives geared towards start up to get up and running, many grant initiatives open through out the year and there are different websites you can keep track of available grants and steps by steps procedures on how to apply and get it.

The most influential grant in my country, Nigeria, is the Tony Elumelu Foundation grant, they give out up to $5000 pre seed to selected applicants followed up with mentorship throughout the year that shapes the beneficiaries into full blown entrepreneurs.

If you're starting a business and you're low on funds you can try and apply to grants and see if you can get something that can get you started, you can also contact different pre seed investors I found crunchbase a good platform to canvass for some investors, send them your application or proposal and take it up from there.

 

[Alexandoy]

When I was in college there was a program by the government that grants capital for small business. It is actually a loan and not a grant that many have availed. A neighbor who works in the government invited me to file an application. But since I have no business IQ during that time so I declined. I didn't know that the business loan is not like an ordinary loan. After sometime I learned that those who were able to borrow money did not pay anymore. There was no collection system that eventually they admitted that those loans can be considered grants. In other words, the borrowers need not pay back the loan. That is a bad program because the government lost big money on such endeavor that I think was meant for political purposes only.

 

[Kingsley]

In a more developed country the government provides grants for small and medium scale enterprises because they are aware of the fact that the economic strength of the country really depends on strongly on how progressive this unit of the macro system performs. When that segment of the economy is affected adversely it will certainly have a negative effect on the economy of any country. But unfortunately the government of the developing countries or should I say underdeveloped countries are not channelling their efforts in biting these categories of business to speed, rather they focus on the large scale enterprise because they feel they can get direct tax and in a huge manner from those categories. But in the real sense of it the small and medium scale enterprises are play a very vital role in boosting the economy of any country where they are been assisted by the government.

But the beauty of things now in my country is thay we have some very good philanthropist we have been trying to empower Small and medium scale businesses in Africa, Tony Elumelu he gives $5,000 to well registered business and for start up aswel. To about 1,000 business in Africa every year.