If you are looking for federal funding for your small business, you should know that the federal government only awards grants to those small businesses that are into research and development for new products as well as new ideas for economic stability for the country. Very few people usually make their cases plausible enough for these grants, and unless you have a product or idea that is well worth the funding that the federal government shells out every year for such businesses, you might be better off considering a government backed loan or a grant that some private organization gives out to new businesses every year.
If you believe that your small business idea is well worth the effort and hard work it takes to put forth a grant request, then you may need to consult with the government organization that awards these grants to worthy individuals and businesses for whatever requirements you have to come up with to plead your case to them and get the funding you need for your idea or new business.
When you have a product well worth developing and researching further, one of the government agencies you can try to tap for help to fund your small business is the SBA. This agency runs the SBIR or the Small Business Innovation Research program and the STTR or the Small Business Technology Transfer program. You will find that each of these programs support certain small, hi-tech businesses that show a lot of promise and that have products that may be worth developing further. These two programs are under the umbrella of the SBA or the Small Business Administration of the U.S. Government.
A total of eleven of the government's federal departments are part of this drive for innovation and development by people who have brilliant ideas that require some funding. Included in this list of eleven are the Department of Agriculture, Department of Commerce, Department of Defense, Department of Energy, and Department of Education, to name but a few. These eleven federal agencies support and give out grants under the SBIR program.
Five federal agencies support the STTR program and give out a total of two billion dollars to small businesses in grants that are made to encourage research and development of hi-tech products and innovations. Technological ideas and breakthroughs that some individuals feel will greatly benefit the people of the U.S. and the world are pitched to these five federal agencies for the possibility of funding for further improvement of such discoveries and inventions.
Finding the right government agency to fund your idea as well as putting together a grant proposal may take a bit of doing and does require a lot of careful research. The work does not stop there either. Once you do get to pitch your idea and get the grant you are aiming for, you will still need to produce results for the government to continue funding your ideas. Getting these grants for your idea means a lot of hard work but, when you do produce results that you and the government expects you to produce, you will find the rewards are more than well worth all that hard work.
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You can find the right grants for your small business innovations and ideas with careful research and the right ideas.
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