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Thursday, December 31, 2009

More Business Grants In 2010?

Everyone wants 2010 to be the year that the U.S. economy fully recovers. Because of this, the Obama Administration has already committed to adding more funding to various programs that will benefit small businesses.

It's very likely that business grant programs will get more funding too, but necessarily.

Business grants, while very helpful to entrepreneurs, are typically not required to be repaid. This is something that the federal government just may not be able to afford to do a lot of. SBA loans, for instance, help entrepreneurs but also help the government make small profits from the low interest rates that are charged.

Despite this, 2010 can still be filled with lots of grant opportunities funded by major corporations and their foundations. Every year, regardless of the economical climate, they give millions of dollars away for tax write-off purposes.

Secondly, local governments (city, state and counties) are not as bad off financially as the federal government is. These local agencies too give away money every year to entrepreneurs to strengthen their local communities.

Whether grant funding overall ends up being less or more in 2010, the key is to pay attention and be ready to move fast. Opportunities can come and go so fast, that by the time you become aware - the deadline has already passed.
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