|
Everything You Need To Know About Business Grants |
|
7. Disadvantages of Business Grants The disadvantages of obtaining small business grants are actually very minimal - and to some, non-existent. Despite the risk-free arrangement that most grant programs have, many complain about the long application process and the tedious requirement of keeping detailed records. However, this is an extremely small price to pay when you are getting award with free funding for your business. The reality is that the advantages far outweigh the supposed disadvantages. Below are just a few case studies of how grant funding how helped difference businesses across the country. • In 2007, a $1 million award was given to the Pullman Industrial Park in Spokane, Washington. According to Robin Toth, director of business development for Greater Spokane, the area of the industrial park, one of two areas referred to as the “Innovation Partnership Zones,” will “spur the economy and grow jobs and companies for the region." -- Spokesman-Review, October 2007 • Skip Grant, president of GAIM Engineering Inc, was able to secure several grants that subsequently allowed him to buy new equipment and put himself and some employees through training courses. These courses made it possible for them “to become certified as a quality-control manufacturer to the automotive industry." -- Regional Business News, June 2004 • In 2007,
the Miami-Dade Chamber of Commerce granted 10 small business $5000 each.
This made it possible for business owners, such as Alma Knight, to lessen
the strain that has been causes through their own self-financing. Alma’s
business offers free or low cost healthcare to members of the community.
-- Miami Herald, March 2007 |