The government’s new focus on helping small businesses switch to green technology is indeed a wise decision. As our country moves further toward becoming a more sustainable and “greener” nation, it makes financial sense to invest in projects that will help save the planet. Government grants for green businesses will help entrepreneurs get off the ground running and make a difference. But how do they do it?
The first step is getting your business ideas “off the ground.” This means coming up with a solid plan, starting with a carefully monitored cost-benefit analysis of your business idea and then developing a business plan for your specific circumstances. It’s important to know what you’ll be doing, why you need to do it and how it will benefit both your company and the environment. You should also have a clear roadmap for achieving your goals.
Once you’ve determined those three things, it’s time to look for government grant funding. Start searching online for existing grants and private funding sources. It can be very time consuming and frustrating to search for grants without knowing where to start. Use a detailed search tool that lets you narrow down the field as you go along. Look at all the available programs to see what type of businesses are currently being funded, and what types of businesses you’d ideally like to apply for.
Keep in mind that grants for businesses don’t all have to be used for the same thing. In fact, many are not specifically designed to finance a particular business venture. As long as it boosts a local economy, aids in community development or improves environmental quality, it could be worth your while. In addition, some grants are available for companies that are considered small, either by industry standards or your own standards. (Don’t worry, though – there are plenty of options available.)
There’s one final way to increase your chances for getting grants for your business. If you have experience in your given field or industry, always consider submitting a proposal to help get funding. You may have already written up an impressive business plan or included presentations or case studies. This presentation could be used in lieu of an application. Don’t forget to stress how much your particular business idea or invention will benefit the community, and how your new business will put local citizens back to work.
You can’t say that grants for businesses switching to green energy are a guarantee, but it’s more likely than you think that they are available. Your local economic development office should be able to help guide you through the process. You should also check with your state’s economic development office, as well as those of several other nearby states, as well as the federal government. The grants may just help you get your idea off the ground and get your business going.