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Home Business Grants

Depending on what kind of business you're planning to start, you

might be able to get a home business grant. These grants are

usually government-issued. They are, effectively, 'free money' -

as long as you use the money for what you say you're going to

use it for, you don't ever have to pay it back. Even if you

don't think you would qualify for anything, you might be able to

modify your business plan subtly so that you do.

Why Would They Do That?

The money is designed to encourage specific kinds of businesses

- it will always be given to you for a very specific purpose.

Also, grants almost never cover the full amount of whatever it

is you want to do, leaving you to make up the rest yourself.

Note that not all grants come from the government -- some are

given out by charities trying to further a cause, or by local

community organisations.

Areas commonly covered by grants include businesses that are

exporting (every government wants exports to be more than

imports), businesses that will provide training to their

employees, businesses that are doing useful research and

businesses that are providing services and jobs in places that

are candidates for 'regeneration'. You may also be able to find

extra support for environmentally-friendly businesses, and if

you're a woman or a member of an ethnic minority then that could

qualify you for a grant too.

Training Grants

Grants for training are some of the best ones out there -- if

you're planning to have any staff, you should really look into

them. Basically, you get a grant towards the cost of sending

some of your employees on a training course. This is good for

you, as you can train your employees more cheaply, and they'll

do a better job afterwards. It's good for them, as they learn

new skills or improve the ones they have and improve their

career prospects for the future. Finally, at least in theory,

it's good for the economy, as there will be a greater diversity

of skills available in the job market.

Research Grants

If your business is trying to solve a problem or develop an

invention, you might be eligible for a research grant. This can

be especially helpful for covering the costs of things like

patent applications. Watch out, though -- application for

research grants is some of the fiercest out there.

Location, Location, Location

Whatever kind of grant you're going for, the biggest factor in

whether you get it will probably be where you're based. Grants

tend to be locally-focused, and especially targeted in areas

that are deemed to have a lacking economy. Since you're a home

business, you might even find it worth researching what is

available in each area, and moving home strategically.

It's Hard to Get a Grant

Beware of anyone who makes grants look easy. There are all sorts

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of 'grant agencies' who want to take a fee, and 'guarantee' that

they'll get you a grant. They won't - as with almost all things

like this, never pay up front. However tempting their offer

might seem, you should be applying for the grants yourself. This

will generally involve submitting your business plan plus a

letter of about 1,000 words saying why you should get the grant

in question -- you can't really use the same letter for each

grant. Pick what you apply for carefully, as it's a waste of

time to apply when you don't meet the criteria properly.

If you want to make sure you're applying correctly, the best

thing to do is to phone up the organisation offering the grant

-- they'll usually be eager to offer help and advice. Still,

don't be upset if you don't get chosen, as it might just be that

there were more qualifying candidates than there was money.

Other Benefits

Any grant you get is likely to bring you to the attention of

some kind of agency or organisation who want to help you in

other ways too. They might help you get onto courses if you're

lacking any business skills, or even provide a mentor to guide

you. You might think it all sounds a little silly, but believe

me, when you run a home business you need all the help you can

get.

About the author:

Original Source: Articles-Galore.com

Information supplied and written by Lee Asher of The Home Income Portal

Home of Serious Online Business Options.