Owning a business has never been easy, but in 2022 it may feel especially difficult. Between the pandemic, supply chain disruptions, inflation, and general economic turbulence, small business owners have a lot of obstacles to overcome. No matter why you need the money, a small business grant from the government can help.
Investing in Small Businesses
These grants are money from the government that is there for the taking. Don’t let ego or pride get in the way of receiving the funding you deserve. Governments provide these grants as an investment in the growth of the country or state.
Why? Because when small businesses thrive, we all succeed.
At Remote Accounting Experts, we’re also invested in your success. That’s why we’ve put together a list of some of the best government grants for small businesses in 2022. There are more grants out there than we could possibly include in one blog post. But these are some of the highest paying grants for which many businesses can qualify.
Federal Government Grants
Most grants related to the pandemic have closed applications, but that doesn’t mean the government has stopped investing in small businesses. The federal government has many ways of distributing grants to small businesses. Sometimes, these funds come directly from departments within the federal government, including:
- U.S. Department of Commerce (DOC)
- The U.S. Economic Development Administration (EDA)
- U.S. Department of Defense (DOD)
- U.S Department of Agriculture (USDA)
- U.S. Department of Health and Human Services (HHS)
- National Science Foundation (NSF)
Almost every federal government department has at least a few grants for businesses in their sector. Always be sure to check the department that most closely aligns with your business to see what they offer. For example, if you own a farm, the USDA has opportunities for you. Or if you work in healthcare research, you may find grants on the HHS website.
However, you don’t have to dig through every government website to find the right grant for your business. You can also check Grants.gov. This government-run website allows users to search through thousands of federal grants quickly.
Other Types of Federal Aid for Small Businesses
Grants are not the only resource that small business owners can gain from the federal government. You may also be eligible for federal contracts or learning opportunities. The U.S. Small Business Administration (SBA) can help with these opportunities.
Winning a contract with the federal government can be an excellent source of revenue and exposure for any small business. That’s why the federal government is dedicated to giving at least 23% of all contracts to small businesses. However, winning a government contract isn’t simple. There’s often plenty of paperwork and red tape to get through.
The SBA offers several assistance programs for small businesses that want to get government contracts. There are programs for women, veterans, and disadvantaged business owners. The SBA also offers opportunities for entrepreneurs to connect with one another.
Not interested in contracting with the government? No problem. Additionally, the SBA offers training programs for new and prospective small business owners. For example, the Boots to Business program helps veterans and their spouses learn to be successful entrepreneurs. The T.H.R.I.V.E. Emerging Leaders program helps ambitious small business owners who are ready to expand their businesses and access new types of capital.
State and Local Government Grants
The federal government is not the only entity that’s investing in small businesses with grants. Many state and local governments offer grants for small businesses as well. These governments know that helping small businesses can boost local economies and help the jurisdiction thrive.
Exactly how to find state and local government grants for small businesses varies by state. Here are some excellent starting points for your search:
- Find your local EDA office
- Get in touch with your local Small Business Development Center
- Contact your nearest Minority Business Development Agency Center (if applicable)
- Find your state’s department of economic development or similar department
No matter what type of grant you apply for, you will probably have to provide a lot of financial information about your company. Remote Accounting Experts can help. We help busy entrepreneurs and small businesses with bookkeeping, accounting, and more. Our dedicated team can help you find and assess the grants that are the best fit for your business, gather the necessary documentation, and more. Contact us today to get started.