Free money grants to start up your own small business seems to be a popular pitch these days. You may have heard it over the television shows, radio or seen it on some newspaper and internet advertisements. These announcements have bold "Free Government Money" headers that will surely catch your attention. The question is 'Are these free government grants for women a myth?'
Myths vs Facts
Some people say that grants can be a source of investment money for you to start up a small or large scale business. The above statement is indeed a myth. The government doesn't have a program for aspiring entrepreneurs for them to jumpstart a business.
You may have heard that the Federal Government offers grants to women entrepreneurs and minority groups - this is a common myth too. Regardless of gender or ethnicity, the US government will not provide for your capital money.
It is very important to remember that government grants can be accessed publicly through www.grants.gov. The government does not require any fees at all whenever you want to apply for any type of grant.
Understanding the Basics of Government Grants
It is true that the government has a budget for grants that are being given away annually. These grants are already allocated to several organizations and institutions and not directly to private individuals. The government offers small business grants for women like you help you in your small medium enterprise; this usually happens however under the supervision of an established organization and not directly to you. However, there is free grant money for small businesses but that is usually for research and development of technology based products and services for the federal government. These grants are usually specialized and aren't that available the entire year. Federal agencies usually post their funds during a weekday on the Federal Register.
The government also gives grants to students to help them with their respective student loans. Some grants can also be helpful for your housing needs such as the Section 8 voucher. Others can even help you with fixing your utilities and taking care of your bills.
Avoiding Financial Scams
You don't want to be a victim of these fraudulent scams online. Make sure you do not divulge and give away sensitive information about you like your social security number, bank account numbers to individuals who claim that they can find you free grants for your business.
Never pay any start-up fees to any company who promises you that free grant. Put in mind that the government does not require any fee at all for processing your application.
If you think that the firm you are dealing with right now is a scam, file a claim right away to the Federal Trade Commission. It is better that you help your community by not letting other people fall into the same old trap.
You can also download a Fraud Prevention Guide from the Federal Trade Commission by logging in to ftc.gov.