Monday, March 7, 2011

Arizona Grants to Start a Business

The second most common reason new businesses fail is inadequate or improper financing, according to Venture Worthy. Finding the right organizations that fund businesses like yours can be tricky until you learn the basics. Find state-specific grants, but do not stop there. Startup grants which are available to businesses nationwide apply to Arizona businesses, too.

Grants for Women
 
Women own a majority of new businesses. You might expect that the government offers many grants to help women-owned businesses. But the federal government offers more business loans than business grants. Grant funding for women-owned businesses comes primarily from nonprofits and private organizations. These hard-to-find grants, according to the Small Business Administration, focus primarily on funding minority women in business and women doing business in economically disadvantaged communities. FundNetServices.com lists dozens of grants for women.

Federal Grants for Technology

Federal grants are very limited. Two programs do exist: Small Business Innovative Research (SBIR) and the Small Business Technology Transfer (STTR). Both programs fund technology research and development which has commercial potential. According to the Arizona Commerce Authority, both programs fund grants for small businesses, and they expect to fund up to $1.9 million in fiscal 2011. STTR and SBIR encourage technological innovation in the private sector by providing grant funding for all three steps toward commercialization. Phase 1 is for feasibility studies. Phase 2 funds research and development, and Phase 3 moves into the commercialization phase.
 
                                        Business Plan Competitions                                            

Arizona State University logoImage via Wikipedia Why not enter your business plan in one or more business plan competitions? Arizona State University's ASU Innovation Challenge awards up to $10,000 to the winner. Candidates must be undergraduate or graduate students of ASU. First, judges evaluate the written business proposals based on the perceived level of impact, implementation and innovation each business plan would have in solving one of the named Innovation Challenges. Winning finalists compete by giving five-minute elevator speeches before a panel of judges. If you have a different alma mater, check your school for possible business plan competitions.
                                                                Nationwide Grants

With search engines, find opportunities to fund your Arizona startup with grant funding that might work just as well for someone in another state as it would for you in Arizona. For instance, Cheap Therapy sponsors the $500 Pay it Forward Grant which is open to entrepreneurs. When it works for you, they ask that you "pay forward" the $500 to another deserving recipient and let your grantor know when you are able to do so.

Arizona Job Training Program

If your new enterprise will create jobs in Arizona, the Arizona Job Training Program will reimburse you for up to 75 percent of eligible training expenses for your employees. This Net New Grant program includes the cost of designing and delivering training plans customized specifically for your business needs. Application for the program is first-come, first-served and based on funds available on the date of your approval.
 
 
References:
 
U. S. Small Business Administration: Women Owned Businesses

BizPlansCompetition.com; Arizona State Business Plan Competition 2011

FundsNetServices.com; Women Grants & Scholarships

Venture Worthy; Grants for Starting a Small Business

Arizona Commerce Authority; What is SBIR/STTR?

Arizona Commerce Authority: Arizona Job Training Program


Resources:

SBIR.gov; State Contacts: Arizona Contacts

Alternate Energy Sources: Governments Offer All Kinds Of Solar Energy Grants

SBA.gov: Loans and Grants

Cheap Therapy; Pay It Forward, January 2011

SBA.gov; SBIC Program: Seeking SBIC Financing for your Small Business
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2 comments:

  1. it is true start small business to need more money Start up businesses in need of funding capital can receive grants to finance their new business ventures. Grants are available for start up businesses in all brokerage consulting construction decorating, food and restaurants photography music and entertainment retail travel and more

    ReplyDelete
  2. Small business grants for women and minorities and government grants for businesses are available to assist you in developing your ecommerce business.

    ReplyDelete

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