Everything You Need To Know About Business Grants

4. Small Business Grants Vs. Minority Business Grants There are several types of business grants available - specifically for small business owners, minority entrepreneurs, women entrepreneurs, and even disabled veterans. Essentially, the grant opportunities are one in the same. The difference is that the grantor has specified a certain group that they want the funds to be allocated to. Generally, the motivation is to assist a group of people who are disadvantaged. For instance, women and minorities have long been mistreated and undervalued when it comes to equal opportunity. So, a women-owned organization who has grant money to give away may decide to only help women and girls. The same may occur for a minority organization that wants to help only minorities, and so on. By creating women business grants or minority business grants, these targeted groups can know that the available funding is specifically for them - encouraging them to better take advantage of the opportunities. Four students from Trent University after winning a local small business grant competition. The motivation behind small business grants may be slightly different though. These may have the sole purpose of restoring a tarnished economy. Usually, such grants are given by federal and local governments with the long-term goal of rebuilding a large community of other small businesses. Such grants are designed to intentionally leave out large corporations who because of their size would be better advantaged to win the funding to use for their own benefits. The general reasoning behind this is that 1) large corporations shouldn't need this type of assistance; and 2) twenty small businesses are better for the economy than one large corporation. In conclusion, both small business grants and minority business grants are targeted to specific groups of people, but with two purposes. One needs a boost because of previous centuries of unequal treatment, and the other needs a boost because the economy literally thrives on them. Of course, minority business owners are a part of the small business community - and thus they contribute to the economy too.

Table of Contents 1 Business Grants - An Overview 2 What Are Business Grants? 3 Why Do They Exist? 4 Small Business Grants Vs. Minority Business Grants 5 How To Find Business Grants and Loans 6 How To Apply For Business Grants 7 What Are The Disadvantages? 8 Business Grant Resources