Building a small business.....?
I have all of my ideas written down, ready to be put into action. I have all of my refrences listed, my prices, even my goals to be in a competitive market. Now i need funding, for advertising, and hiring employees. ...I have been checking arounds for government grants. I keep getting scammers. I know that you are not supposed to have to pay for info of this sort. Where do i go? I also have yet to get a tax identification number. I do need that as well. I know that i have a great plan, i just need to be pointed in the right direction. I would like to have my place up and going with 2-4 employees, by this time next year.
1. Who do i contact to get the forms for government grants? ( a true legit place)
2. How do i get my tax indentification number?
3. What can i do to help my application be more appealing?
4. What is the quickest way to go about getting this done.
5. How long does this process normally take?
- imisidroLv 71 decade agoFavorite Answer
The Internal Revenue Service (IRS) web site at http://www.irs.ustreas.gov/businesses/small/articl... contains all the information you need about EIN or tax identification number and how to apply for an EIN electronically.
As for grants, don't waste your time looking for one. It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business. And yes, grants mean PAPERWORK - lots and lots of it, that is why a cottage industry of grant writers was born.
Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov/ and Grants.gov http://www.grants.gov/ - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.
Even if you buy books on "how to get grants" or list that supposedly has information on grants -- all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same - hardly any grants for starting a for profit business.
Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/expanding/grants.html...
"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."
Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business -- THERE'S NONE.
Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program
Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs
For private grants, you may want to check the Foundation Center's Foundation Grants for Individuals Online. It's a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for "students, artists, academic researchers, libraries and financial aid offices." Entrepreneurs are apparently not one of them, so I take it they also don't have listings of private foundations who give grants to would-be entrepreneurs.Source(s): http://www.cfda.gov/ http://www.grants.gov/ http://gtionline.fdncenter.org/ http://www.powerhomebiz.com/vol66/grants.htm http://www.sba.gov/expanding/grants.html
- chefgrilleLv 71 decade ago
The tax ID number is the easiest part. I just can't remember anymore where to get the app for it. Do you have an accountant to ask? Might as well find one if you don't, because you'll be needing them. Try calling the SBA and they'll point you in the right direction. Oh, and the tax ID number usually only takes a couple weeks or less.
- 1 decade ago
I've seen "business plan software" on the shelves at Staples. You'll need a business plan before any bank considers a business loan/line of credit. Good luck. Never give up!
- 1 decade ago
so far I have just googled everything I've needed. I haven't run into trouble finding what I've needed, I just only click on sites that end in .gov
In order to find funding you must have a proper business plan, your local SCORES chapter can help.