Contrary to popular misconception, Federal government business grants are not free money to fund personal businesses or personal start-ups. However, they do offer federal benefit programs to aid families and individuals in becoming self-sufficient.
But, the inquisitive you would want to know “What exactly are Federal Government Grants?”
- They are government funds that empower projects and ideas to stimulate and boost the economy.
- They are grants that support critical initiatives, innovative ideas and research, and other programs listed on CFDA (Catalog of Federal Domestic Assistance).
In other words, organizations and institutions with innovative projects that will benefit a section of the population or the nation, in general, are primary recipients of the Federal Government Business grants.
Therefore, the only way you can become a beneficiary of grants from the Federal Government is when you a part of these organizations or sectors.
So, a few of these grants are listed below
#1. Federal Government Business Grants For Agriculture
This grant funds the agricultural sector in Nigeria. So a farmer registered under this association is automatically a beneficiary of this grant. Furthermore, it also supports small businesses intending to develop scientific entrepreneurship and technology around the federation.
However, to be eligible for this grant, you and your organization must strictly stick to the goals and objectives of this grant.
How to Apply
- Visit grant.gov to get information on accessible locations for the forms.
- Fill in the necessary and accurate information required by the Federal authority.
- Submit and wait for feedback.
Read Also: GRANTS FOR PARENTS: A Comprehensive 2023 List (Updated)
#2. National Institutes of Health Grant
NIH is a federal government-owned institution that provides funding to small business owners and companies involved in the research and development of innovative medical technologies.
Eligibility
- Companies or organizations applying for this federal government business grant should be research-based.
- Furthermore, they should be innovative commercially.
How to Apply
Visit Grants.gov for a detailed guide on application procedures.
Read Also: 5 Easy Single Moms Small Business Grants
#3. YouWin Connect Nigeria
YouWin is an annual Federal Government initiative to fund innovative business enterprises and ideas with the goal of job creation in mind. Furthermore, it aims at developing and executing those ideas.
Eligibility
- You must be a Nigerian between the ages of 18-45 years.
- You must have a post-secondary education
- A fully detailed business idea with the ability to function in Nigeria and employ Nigerians must be submitted.
How to Apply
- Register on the YouWin Official Website to get login details.
- Submit a fully detailed business plan.
- In addition, stay glued to your email for updates.
#4. Cybertipline Grant
This Federal Government Business grant focuses on empowering small businesses that provide programs to stop human trafficking and child exploitation. Furthermore, the Department of Homeland Security is responsible for financial obligations.
How to Apply
Visit the online portal to fill out a survey from the Federal Government.
#5. National Institute of Food and Agriculture (NIFA) Grants.
NIFA is a federal-owned agency under the umbrella of the USDA (United States Department of Agriculture). These grants, however, focus on nonprofit organizations, larger businesses, and leadership that tries to advance agriculture.
Furthermore, the agency disburses federal funds to tackle agriculture-related issues affecting the nation. Also, NIFA spins throughout the year, offering different grants to foster healthy competition in the agricultural sector.
How to Apply
Visit Grants.gov for a detailed guide on application procedures.
#6. Small Business Innovation Research Program
The Small Business Innovation Research Initiative (SBIR) is a highly competitive program that promotes small businesses to explore their technological potential and gives them the opportunity to profit from its commercialization. By incorporating eligible small enterprises into the nation’s R&D arena, high-tech innovation is promoted, and the United States obtains entrepreneurial spirit while meeting its specialized R&D demands.
Basically, SBIR focuses on the entrepreneurial sector because it is where the majority of innovation and inventors thrive. However, the risk and price of substantial R&D initiatives are frequently out of reach for many small enterprises.
SBIR protects small firms and allows them to compete on the same level as larger businesses by reserving a specified percentage of federal R&D dollars for them. Also, SBIR pays the essential startup and development stages, as well as encourages the commercialization of the invention, product, or service, hence stimulating the US economy.
#7. Small Business Technology Transfer Program
The Small Business Technology Transfer Initiative (STTR) is a critical small business program that increases funding opportunities in the government innovation research and development sector. The broadening of the public/private sector relationship to include joint venture opportunities for small businesses and the nation’s best nonprofit research institutions is central to the initiative. The primary goal of STTR is to stimulate the innovation required to fulfill the nation’s scientific and technical challenges in the twenty-first century.
Federal Grants for Small Businesses
Although applying for federal grants can be scary, they are excellent possibilities for small-business owners trying to expand.
Grants.gov:
Grants.gov is a comprehensive database of grants administered by various government agencies, including the United States Department of Education and the Department of Veterans Affairs.
Small Business Innovation Research and Small Business Technology Transfer Programs:
The SBIR and STTR grant programs are focused on R&D for technological innovation and scientific research. The programs assist small businesses in obtaining federal grants and contracts from 12 government agencies.
To be eligible, you must run a for-profit business, have no more than 500 employees, and meet other requirements.
USA.gov:
There are no federal small-business grants available on this website, but it does provide resources for starting or growing a business, including a link to GovLoans, which provides information on the various types of federal small-business loans available.
Grants for Small Businesses at the State and Regional Levels
Economic Development Administration
The Economic Development Administration is a U.S. Department of Commerce agency that provides grants, resources, and technical assistance to communities in order to promote economic growth and encourage entrepreneurship and innovation.
Each state’s agency assists businesses in obtaining financing (including state or regional grants), locating suitable locations, and recruiting employees. You can look up regional offices and local resources in the economic development directory.
Small Business Development Centers (SBDDCs):
Small firms and aspiring entrepreneurs can get help from their local SBDC. They are frequently affiliated with local colleges or the state’s economic development agency, and many may connect business owners with financing opportunities as well as counseling, training, and technical assistance.
Federal Government Business Grants FAQs
How can I get a government grant for my business?
Grants.gov is a good place to start looking for federal grants. This government website contains the most complete database of monies that the government intends to distribute. There are thousands of grants available, offering chances for businesses of all sizes.
What are the 3 types of federal grants?
Categorical grants, block grants, and general revenue sharing are the three categories of federal grants to state and municipal governments.
What is the $10 000 SBA grant?
The Targeted EIDL Advance awards up to $10,000 to candidates who meet the criteria of live=ing in a low-income community. A mapping tool (sbaeidl.policymap.com) is provided to help applicants assess if they live in a low-income community as specified in section 45D(e) of the Internal Revenue Code.
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