The world is not an easy place to survive. You will find cut-throat competition in jobs for promotion and in growing businesses. And only the most worthy stand till last. But sometimes, even the worthiest lose the race or fail to start the race due to various restrictions. And there could be any kinds of restrictions that could be the reason for one’s failures, even if they are deserving.
In some cases, the restrictions are related to family and relationships. Sometimes, these restrictions are physical. But one of the most common kinds of restrictions we have observed is financial restrictions.
Even the most creative, focused, dedicated, and hard-working fails to achieve their business goals due to financial restrictions. But the government looks after everyone. Thus, there are many Government grants for small businesses that you can use to grow your small business. However, nothing in the world comes for free, especially financial support or grants. Although you are not supposed to pay back for government grants for small businesses. But finding the right ones that suit your business needs and applying for such grants is a mind wrecking hustle.
However, we know you are already very occupied with the responsibilities of your business. So you don’t have the time to look out for the grants that are ideal for your business needs. Hence, just for you, we have thoroughly researched and have found some of the best Government grants that would be ideal for growing your small business. So, let’s start.
Best government grants for small business in the US
There are various government grants that you can for to support your small business. And some of the best grants are the following:
Shuttered Venue Operators Grants (SVOG)
Many small businesses whose major services provided amusement and food to their host or customers were shut down during the lockdown. Later, their business was affected by the covid restrictions. Thus, they suffered heavy losses during the pandemic. But the Shuttered Venue Operators, administered by the Small Business Administration (SBA), aims to provide financial assistance to such businesses.
The venue of businesses eligible for these government grants for small businesses are venue operators or promoters, theatrical producers, live performing arts organization operators, relevant museum operators, motion pictures theater operators and talent representatives, and zoos and aquariums who meet specific criteria.
The criteria of this grant program are that it provides grants up to 45% of the gross annual income of your business. And you can get a grant of up to 10 million, depending on the gross annual income of your business. Hence, it is one of the best small business grant applications to apply for.
Small Business Innovation Research Program (SBIR)
Just like (SVOG), this grant program is also run by the Small Business Administration (SBA). It is a competitive grant program that aims to support and encourage small businesses to research and development for federal agencies. So if you have a business-focused dedicated to high tech innovation and have the potential for commercialization, you can apply for this and compete for the Small Business Innovation Research Program grants.
However, there are some eligibility criteria for the businesses to apply for this grant program. Firstly, you must have a for-profit business. Secondly, you should not have more than 500 employees working for your business. And there are several more terms of eligibility that you’ll know when you’ll apply for this grant program.
The National Institute on Disability, Independent Living, and Rehabilitation Research (NIDILRR) also runs one of the SBIR grant programs that specifically provides ten grants worth $100,000 to the businesses providing research and innovation inaccessibility.
The Economic Development Administration (EDA)
This one is not a federal but state government grant for small businesses. So EDA is a subsidiary of the US Department of Commerce agency, and it offers technical assistance, resources, and grants to promote entrepreneurship and innovation among small businesses. And because this one is not a federal program but a state program for providing grants and funding to small businesses, the value of grants could vary from state to state. Hence, it would help to search for Economic Development Administration (EDA) grants in your state.
The Small Business Development Centers (SBDC)
The SBDCs are usually connected with the Economic Development Agencies of the state. They can help you connect networking opportunities, financing, and business mentors so you can have assistance in growing your small business. One great thing about SBDCs is that you can easily find one in your local area, and it will provide you support to compete and survive in the market.
The Small Business Technology Transfer Program (STTR)
The STTR grant program is almost similar to the SBIR grant program, but there are a few significant differences between the two. The common points between these two grant programs are that both programs provide competitive grants to the applicants owning small businesses. Also, both the programs support the research partnership of the small businesses with the federal agencies.
However, one significant difference between the STTR and SBIR grant programs is that STTR requires the business to partner with a non-profit organization for the first two phases of the program. But the applicants should have a for-profit business with a strength of fewer than 500 employees.
What you need
Now, you know about some of the best government grants for small businesses, but several small business grants applications can help you grow your business. These grant programs are aimed to provide financial support to startup businesses, company expansion, and businesses involved in research and development.
However, many of these grant programs have restrictions, like the methods and assets on whih the money should be spent and other terms and conditions. And while running a business, it becomes hard to find the grant program that suits your business needs. But USAGrantApplication stands as a solution here. They have the experts to do thorough research and find the best grants that suit your business needs. Then, all you would do is apply for those grants.
