Restaurant business valuation

The Truth About Government Grants And My My Home Based Business

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Is it possible to to get 'free money'- government grants - for your home based business? Depending on the type of business you CAN. Find out more.

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With more and more people starting up home businesses today, not everyone has got the required funds to make their dream come true. Nevertheless there is always the chance to get your hands on some free government money - or is it?

Government grants have been trumpeted around for many years now but is it that easy to secure? For the typical home based businesses particularly home internet businesses is it an easy option?

Depending on what kind of business you intend 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.

Generally, grants are designed to encourage specific kinds of businesses. It is always given for a very specific purpose almost never cover the full amount of whatever it is required for, 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 provide training to their employees or are involved in exporting. Environmentally-friendly businesses tend to be looked upon favourably. And so are those that are involved in research and development although there's fierce competition in this area.

If your business is developping an invention, you might be eligible for a research grant. This can go a long way in helping to cover patent applications costs and such like. Also, if your home based business provide services or jobs in places that need 'regeneration' then you are likely to be well-favoured.

Grants for training are some of the easiest to secure. If you're planning to have any staff in the future for your home based business, you should really investigate them. If successful, you will get a grant towards the cost of training your employees an area that will not only benefit your business but will also improve their future careers.

As a home based business, you need to bear in mind that whatever kind of grant you're going for, the biggest factor that influences whether you get it will or not is the area you live in. Grants tend to be locally-focused especially for areas that need regeneration.

From our investigation grants are not that easy to get. In fact, beware of anyone who makes securing grants look like a walk through the park. There are myriads of middlemen or 'grant agencies' who take a fee, and 'guarantee' to secure you a grant. This is highly improbable and like most other things, it is advisable never pay up front, no matter how tempting an offer may seem.

You should be apply for the grants yourself. To do this, you will generally need a plausible business plan with an accompanying letter explaining why you should get the grant in question. This is where it's important to show all your facts and figures, future business and financial projections. Usually, this should be at least between 4 - 10 pages long. Pick what you apply for carefully, as it's a waste of time to apply if you don't meet the criteria required.

Should you need help in applying correctly, the best thing to do is to phone up the organisation offering the grant and they will usually be eager to offer help and advice.

In short, it is possible to get a grant for your home based business even your home internet business depending on what kind of business it is.

Author: Ben Bardot

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By Ben Bardot For A Bona-fide Step-by-step Guide To Starting Your Home Internet Business visit the Home Internet Business Guide And How To Secure Government Grants

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