Small businesses are the backbone of the economy. They of course capture individuals’ drive to be as independent as circumstances would allow them. Of course, it’s never so easy, but it’s nevertheless an honest aspiration, which is definitely closer examination.
According to Jack Ma, the owner and founder of Alibaba, the world’s largest e-commerce portal, when one has their own company, one hasn’t got a day off. This shouldn’t scare you – if anything, it should drive you forward.
Inspiration is important and there’s no shame if it comes in the form of small business opportunities. But what sources of funding exist these days? Quite a few as a matter of fact.
This article focuses on government, federal, and closely-related grant opportunities for SMEs.
Government & Federal
Believe it or not, the government wants you to be a successful businessman. They do it not only because they believe in the right to tax you more. Quite the contrary, as a matter of fact. Many governments have a flat corporate tax, which means that you can run your business quite easily, without worrying about the tax man.
Case in point is the fact that the majority of governments apply special relieves when it comes to new businesses. So, there’s that.
Federal & government funding schemes are among the most preferred options of funding and we can definitely recommend them if you are interested. Nevertheless, you will have to be prepared and meet some specific criteria, to allow you and navigate certain specific areas of the application process:
- Preparing the right documents for your application
- Making sure that you can reliably exercise your business
- Come with a feasible plan to execute your strategy
This type of funding is quite popular indeed. You can enjoy government funds in almost all forms. The more successful your business becomes, the more you can benefit from government and federal funding.
There are many different schemes to reach out to, and it’s always helpful asking around other people who have participated in such projects. Companies seek extra capital to grow. And growth is good as your SME can soon start growing, and adding people – driving economic progress, which is something any government would be interested in.
Living in Europe? Check the Development Projects by the EU
European Project are quite the resourceful way to get your funding started. There’s a lot of red tape to clear and you have to get clearance from multiple sources, but overall – it’s all going to pay off in the long-term.
With this in mind, we recommend you to rely on your government or the economic unit your country is member of to securer some extra funding.
There’s no shame in asking. SME incentivizing schemes are put in place with the sole purpose of helping you expand your company and this, in turn, helps others. That’s why governments are interested in giving you all the financial momentum they can afford so that you can fly on your own.