5 Common Business Grant Myths

Business grants have been accessible to business owners in the United States for decades. Annually, hundreds of millions of dollars in grant money are disbursed to individuals to help them start or expand an existing business.

Despite this, every year several business grant myths and misconceptions resurface discouraging entrepreneurs from taking advantage of such opportunities.

Here are the top 5 business grant myths:

1) Business Grants Aren't Real:
Of course, they're real. This can easily be verified by going to www.Grants.gov - a government sponsored web site that reveals all the federally funded grant opportunities available. Even more, one can check with their local (state, county and city) officials to find out about their grant opportunities. Business grants are very real.

2) Business Grants Are Only Given To People With Business Degrees:
This couldn't be further from the truth. Very few grant opportunities require that a person have a business degree. In fact, many of them don't even require that you have business experience.

3) Business Grants Aren't Given To Minorities:
Wrong again. There are tons of grants that are designed for minority-owned businesses. Even more, women are considered minorities too - and there are plenty of grants for women.

4) Business Grants Are Too Hard To Get:
Obtaining a business grant does require some work, and definitely some patience. It can involve a lengthy application, some tedious modifications to a business plan, and even some face-to-face meetings. However, many agree that its nothing close to rocket science.

5) Funding For Business Grants Has Been Drastically Reduced:
Reduced, yes. Drastically, no. What funding doesn't get reduced in a bad economy? Despite this, there are still tons of opportunities available. So stop making excuses, and go get them.

The National Institute of Business Grants (www.Business-Grants.com) provides free tips, advice, and frequently asked questions pertaining to business grants.