Minorities in US are encouraged
to start businesses in the country, as an aid to the same they offer minority grants, every year. A lot of
people refrain from applying for the grants because they don’t want the
unwanted hassle of paperwork. Although everyone understands what they could do
with these grants, one needs to understand the system properly.
Usually when
the Federal government approves a grant, 51 percent of shares are held by the
government. Commercial grants are tough to secure as compared to non-commercial
grants, since commercial grant opportunities are rarer.
To avail to such programs, you
first spot the opening through internet or print media and then send an
application for the same. After your application is processed they get in touch
with you to explain further. There are several Small Business Administration
grants but not all are minority grants, so you need to study carefully before
you jump on it. If you research you many find about several state and federal
schemes.
The whole process is long and
requires a lot of courage, but the offer is promising. Who wouldn’t want
someone else to invest in their idea, especially when the money is not to be
returned at all.
