Posts Tagged ‘business’

It turns out that nowadays business is not only for economic purposes. More and more people find that business degree has wider implementation than just managing company because a lot of the strategies can be used as life philosophies. No matter if you pursueonline business degree or conventional one, it is an investment that often has to get outer support. For such cases were invent the student scholarships. Which are the most popular grants for education in business? Here you go the lining:

  1. Marc Beaumont Scholarship Fund.

It is given by the Academy of Arts and Sciences. To be eligible you need to pursue blending of your business education with entertainment and art industries requirements are minimum 3.3 of 4.0 GPA, full-time student currently enrolled. It’s not renewable and it is total $2,500.

  1. Women in Public Finance Scholarship.

It is available only for high school seniors with intention for enrolling in program in law, accounting or finance. The application is made through number of essays and should be submitted by the end of August of the previous year before the student university attendance.

  1. Cappex Business Majors Scholarship

This is renewable $1,000 grant for business students. Applications are open till the end of the year. There is no minimum GPA but the extracurricular activities and leadership potential are greatly valued.

  1. NFIB Young Entrepreneur Awards.

This is program that promotes students who have already started their own small business. The criteria to receive the award are exemplary leadership both at work and in classroom. The program started in 2003 and it’s open for applications every year till December 18th.

  1. John L. Carey Scholarship Program.

This is AICPA’s grant for accountancy students. It is $5,000 for 10 students and applications are opened from December to April every year.

  1. NSHMBA Foundation Scholarship Program.

This one varies from $2,500 to $10,000 depending on the need and the application details of the candidates. Only for students from Hispanic lineage, graduate level.

  1. CEO of Tomorrow Scholarship.

History of academic achievements and excellent leadership abilities is what you need to get this one-time scholarship of $2,500.

  1. Ritchie-Jennings Memorial Scholarship.

ACFE offers this to students from accounting, executive leadership, finance and business management. ACFE chooses 29 winners and awards sums from $1,000 to $10,000 to each of them. Get ready with three recommendation letters, essays and minimum part-time enrollment in accredited school if you want to compete for these awards.

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Many business owners have encountered the money problem in some moment of the existence of their business. Usually in this situation they are standing in front of the decision to get a loan or find business funding grants that will allow them expansion, going through tough moment or another thing. Usually when it comes to grants the first things most people think are the government grants. Truth is that also many profit and nonprofit organizations offer business grants to small business owners and here we talk for numbers from $5,000 to sums that contain six figures. Here is a list of some of the most popular American organizations that are funding businesses:

  1. Small Business Administration.

This is government agency that also supports non-government businesses. The grants SBA provides are not meant for expanding or starting a business. To receive them you need to provide solid proof that your project will be absolutely successful. It doesn’t matter if your organization is non profit or for-profit. Also the grants are separated in two sections: Construction and Non-Construction Grants. To see if your business falls into the criteria check here: .

  1. The Bank of America Foundation.

They support mainly non-profit organizations. For 2013 the BAF has given about $200 million in grants to organizations, visionary leaders and high-impact initiatives that aim in improvement of local communities, housing and other charitable causes. Their programs are not available for schools, sport organizations and many other initiatives. For full list of inappropriate candidates and description of the eligible ones see this page: .

  1. The Mission Main Street Grants.

This is program of Chase that offers 20 grants of $150,000 each to small businesses throughout USA. The awarded companies are selected on viewers’ choice principle. The awards are annual and you can apply for them from 3rd September till 3rd October. The vote is taken from the opening till 17th October and the awards are received in January on the next year. The criteria that you need to cover are basically less than 100 full-time employees a year and to have your business running for at least 2 years before the launch date of Mission Main Street. Also these grants are available only for profit organizations. For full list of the requirements check the Program Rules: .

And these are not all available organizations, keep looking for opportunities!

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Practical tips on how to get business grants

Theory is good thing. You can have a thousand advices on how a process should work but when it comes to something that should be made on practice, advices from people who have been through it are priceless. Here are a couple of things to o and think of before you head to the local government office to ask for grant.

  1. Ask around.

Contact the local government agency, local business networks and chamber of commerce . Ask them about small business grants that are available to you. Discuss and share the information with your own network of directors and business founders. Creating a tree of people who know what you look for makes it easier to keep yourself informed what grants are available at any particular moment. And don’t forget that this network works both ways and if you have the opportunity you should help and provide information too.

  1. Get to know the people who manage the grants.

Don’t stock them. Sometimes it seems endless torturing repetitive exercise to file a grant application. Gather as much information as possible before you go for it. This way when you meet the manager you will have an idea what he may ask from you and what will be expected from your project papers.

  1. Don’t wait for the last moment.

Sometimes it’s the worst you can do. Not that your documents will be rejected but in business if you want something done on time, you don’t wait till the last minute. Also some grants have limitation about the amount of applicants and being the last one may equal to be the first to be rejected.

  1. Give yourself time.

Documents may seem simple and easy to fill but sometimes they require extra declarations and reports that need time to be filed. Also if you are looking to start a project or to run your company in September, start applying for grants in June. It takes time both to you and to the authorities to take a look at the documentation and to pick the companies that will receive financial aid. Also getting the grant doesn’t mean you already have the money in your account. Sometimes the actual receiving takes up to month.

  1. Extra charges.

Some applications require outer assessment that may be chargeable for you. Don’t think that the process of grant application is always completely free.

And that’s from the practice: every grant has different requirements, read closely.

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Small business grants in UK

Every country seeks for ways to develop its economics and it seems nowadays that this development is in the hands of the small business. That’s why many governments gladly fund small companies with grants, loans and other ways. One of the countries with long long history in the business area is the United Kingdom. Here is what you need to know for the grants that its government gives:

  1. Positive sides of the business grants.
  • You don’t have to return them or to pay interest on them, in other words they are non-repayable.
  • You have all the control over your business and the decisions connected to it.
  1. Negative sides of the business grants.
  • They are hard to get because there is a great competition.
  • There is a lot of information you need to get and a lot of documents to fill; besides receiving the actual money can take a long time. The process of application and receiving of the business funding grants is very time-consuming.
  • Grants often go to projects that haven’t been started yet.
  • No grant covers your expenses in 100%.
  • Most grants are pointed toward specific fields of the business and sometimes finding one that matches your can be tough.
  1. What authorities offer small business grants in UK?

Except the national Government, you can search for financial support from the Government of the European Union; local authorities, Regional Development Agencies, Chambers of Commerce and many others.

  1. What criteria are important when you apply for government grants?
  • Location – government often sresses on the development of certain geographical areas; is your business in the right place?
  • Business classification – usually there are forms of business that are promoted with grants: partnerships, limited companies, sole traders, etc. What is your company?
  • Industry type – many grants focus on specific sectors and industries; search for the ones that match your industry. Search for information for such grants in specific newspapers, magazines or from people who operate in the same area as you.
  • Grant purpose – depending on the project you can find wide range of financing opportunities. Develop your aim with some ecological or social benefits and your project will get better acceptance.
  • Business size – what matters here are your incomes, how many employees you have and what scale and legal form has your business.
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What grant you can get to build a startup in Australia?

To start a business is a tough job. Especially if you have an idea but you don’t have the money to make it reality. What most people do is to get a loan, but in the long run they realize that loans are just temporary solution of the problem. One of the things that you can actually do is to find funding from private investors or from government program. Here is one way to fun your startup if you are developing it in Australia.

Australian government offers starters a couple of options for funding. Depending on the area in which you want to make business there are different options for government grants: Entrepreneurs’ Infrastructure Programme, grants for defence industry, Growth Fund, Import and Export Assistance, Industry Skill Fund, Regional Innovation Funds, Innovation and R&D and many others.

These grants have different range according to the program itself. For example, Entrepreneurs’ Infrastructure Programme is a program that offers support through network of advisers in business management, research connections and accelerating commercialization. This program focuses rather on problems solving through advices and creating of connections than financial assistance.

Other options for business grants are:

  • Enterprise connect

It offers business reviews for entrepreneurs for free. The Tailored Advisory Service grants allow you to engage consultants to help you with business improvements.

  • Grow your business

It’s a program of the Victorian Government that offers to cover up to 75% of the costs you will make on a group project.

  • Venture Capital Limited Partnerships

It helps you to find foreigner managers who want to invest in new companies with at least $10 million venture capital and assets of up to $250 million. All you need to do is to register in the site of the program. The only condition is your primer activity to be different from property development or finance.

  • Export Market Development Grants

These are business funding grants that promote and allow Australian businesses to access overseas markets.

  • iLab

Scheme funded by the government of Queensland especially for tech startups.

Except the government, there are also a lot of private investors that look for promising starting projects to invest their money. So if you can’t find a government program that fits you, maybe it’s time to search for private investors? Just search and you will find the right grant.

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