Gov. Grants for small business?

Anyone know about any small business government grants that are available. It seems like I keep hearing little things here and there about what good opportunities there are for small business owners to get grants. Yet I can never seem to pin anything down as a solid lead.

All I come across are those pay sites that will send you a training book deal... look kinda scam-ish to me thought.

I'd like to move out to Chicago and get a studio/equipment/marke​ting going on. So anyone from Chicago that knows of any state level grants would be super helpful as well.

I've never looked fully into them, but the whole thing never seemed as easy as implied. The current bailout system notwithstanding, the government doesn't usually hand out money for business for just anything.

Grants I believe are generally for businesses that will benefit a community. You starting a photography business is not one of those. They aren’t going to give you money so you can buy new stuff for yourself.

Not true, alleh, grants vary. Basically, they're granted on terms of conditions that you agree to fulfill. Some require you to pay them back, some don't, some are monetary and some aren't..the process reminds me of applying for scholarships. Some you need a certain mark for, some you don't. Some you need a certain interest, some you don't. Some you just put in your name and you get it...you get the idea.

That said sometimes grants require you to give back the money, according to their terms. I'm no accountant, but I just gained a 5000$ grant myself to buy a new printer (along with a few other odds and ends). Small businesses grants are exploding right now, and up here in canada there are hundreds being handed out..Not really, you have to qualify is the tricky business and you have to agree to certain terms. I theorize the reason being for there being more grants; the more business there are created, the less unemployment there is and the more willing the gov't is to help you get set up so you don't rely on them later.

OP: Research into your local Investment and Business Development/Industry offices or ask at your branch of bank. In Canada I know of a few, but they vary by area.

Like I said, I'm canadian and the way it works up here probably is different from the way it would in the USA as far as what's available.

There are usually no constrains on what you do with the money, as long as you spend it how you originally intended to spend it. They don't care what your business is, though some require you to submit a completed business plan and marketing plan to show your business is viable enough.

I found I qualify for a 20 000 grant, and am currently working to apply for that. There's lots of opportunity out there - you just have to look for it and qualify for it. Sometimes its luck, so good luck.

Alleh wrote in post #7506704
Grants I believe are generally for businesses that will benefit a community. You starting a photography business is not one of those. They aren’t going to give you money so you can buy new stuff for yourself.

Not true - a photography business can qualify for a grant as long as it meets the requirements, one being it's something "needed" in the community in some instances. It's not a quick loan to buy new stuff, it's a process you have to apply for and get approved and then follow through. Some require paying back the grant while others don't as already stated. This is nothing new and money has been put aside by the government for years to do grants.

Something that I have my accountant looking into is how to list the business. If I put my wife as the biz owner and I am merely an employee, she would qualify for minority grants before I would. I know this has been done successfully in the past and is very legal. It's all in how you write up your business structure. Our accountant is looking into the best way to catagorize ourselves that is most beneficial for tax purposes (tax breaks for minority run businesses) and for small business grants/loans.

A lot of small businesses (under 500 employees - a lot of businesses have less than 500 employees, especially unincorporated ones) run on grants, not just start up. Some are ongoing and some are once in a lifetime. One thing I will note though; Don't apply for the big ones if you can't afford to. Usually the bigger a handout; the more strings attached. Read those papers and read them well before signing anything.

Thanks for all the info. I am in the middle of writing up a solid business plan. I plan to get a business loan as well and know I will need it for that.

Kajuah, it sounds like you didn't use any of those online "grant search engine" systems that pop up all over when you do a search for grants? I will look into my local Investment and Business Development/Industry offices and bank like you suggested.

I can't find the article right now, but I think it was Slate.com that did a story about the scam grant sites a few weeks ago. There are some legitimate grants out there, but stay away from the paid adds you see on the web.

Try S.C.O.R.E.

http://www.score.org/i​ndex.html

when i looked into it, you basically had to be doing research or some crap to benefit the community. def not something that photography would fall into. ( in their eyes

gravy graffix wrote in post #11300376
when i looked into it, you basically had to be doing research or some crap to benefit the community. def not something that photography would fall into. ( in their eyes

We looked into for a recording studio awhile ago (7-8 years ago), and it fit the criteria simply because it was a business that was not in the area, I guess that is benefiting the community by adding it in their eyes. Photography I could see it being different because there's a business ever 30 feet in some towns, so they could view it as not needed.

My day job is for a state agency and I have some experience with government grant administration. Forget what you hear on TV about free money to open a business. Yes occasionally a government agency will provide grant funding to underwrite a small business, but its usually a targeted business in an underserved area. Generally photography isnt a critical service. You might find some assistance from your local (county, or city) government if you are looking to start or expand a business in an area thats commercially underserved. As said above its usually in the form of loans or perhaps some form of local tax abatement. Almost universally this would apply only to a brick and mortar retail operation, not a wedding business from your home office.

There are grants that are typically to non-profit organizations and there are often tax incentives for for-profit companies. If you find a grant for which you would like to apply and your company is a for-profit entity, a common strategy is to partner with a non-profit who applies for the grant and pays you for the work you do. For the latter, it might be something like not having to pay sales tax on equipment purchased in-state for film production, writing off a percentage of salary for new hires who were unemployed for over 6 months, that type of thing - for those your accountant might be of help.