Being a single mom requires a lot of effort and even more will power. Having to manage your kids’ lives along with your own and to top it all, having to work to earn enough to give your kids a secure future and a good present is a huge task. Not many single moms succeed at giving their kids the kind of life that they would want to. If you are a business owner along with being a single mom, we can understand how difficult life can get for you at times. This is to help point you to the right direction- the direction of business grants and other sources from where you can obtain sources for funding your business.
There are many types of grants that you could opt for. Some of them being:
- The first type of grant is the Federal Government Grant for which you have to access their online site and browse the categories and sub categories to find a grant that suits your needs the best. It involves looking into the kind of grants that they give and the finance offered by them.
- The next type of Grant is the Corporation Grant. Here, large corporations have departments that give grants to people for various purposes. These grants are usually given to low-income working people so that they can use it to build up assets and finance their children’s education and secure a future.
- The third type of grant is the Private Foundation Grant. These foundations are set up for people who are looking for financial aid to start up their own businesses. They also fund other finance needs if required.
Before you start applying for grants, you must be prepared to answer questions like:
- How far do you see your business going?
- How many employees will you require?
- What kind of financial back-up are you looking to get?
- Why do you want to get into this line?
- Would you be having a board of directors to assist you with your decision making?
How to get a Grant:
- The first step in trying to get a grant is to find a grant that suits your needs and finding out all about it and the person giving you the grant. The person must be willing to back up a need such as yours and must have the finance that you need. You will need to do a good amount of digging to get people who suit your needs and whose needs you suit.
- The next step would be to write out your grant proposal. Most organisations have their own requirements regarding the applications. You may have to contact individual organisations to find out about their application requirements. The proposal could be the deciding factor about your grant, so do not leave any stone unturned.
- The last step, which is the most important, is you being persistent. Getting a grant is not the easiest thing in the world. Hence, without persistence, you are just one of many who think of starting a business and never manage to do it because they lack the will-power to work hard towards it.
Written by Marie Nelson
Marie is a professional blogger, who covers a variety of topics including make money, stock market, loan, debt, bankruptcy, budgeting, binary options, retirement investment and she has been writing for the last 5 years.