Specific grants, subsidies and loans can provide financial relief to my company.
How this helps you
Funding a company can be hard. Look for all the help you can get, but keep in mind that you may need to exchange some of your influence or time for that funding.
What is it?
A grant is a non-repayable type of funding often provided by a government or other organization for a particular purpose. Most grants are made to fund a specific project. In order to make sure the money is well spend on the intended goal, this may require some level of compliance and reporting. In most cases there is a formal ‘grant writing’ process to help you submit a request for a grant.
How does it relate?
Working on ideas often doesn’t come for free. Next to spending your life’s savings on your new company, which often is a healthy sign that you’re serious about it, there are many other options to seek funding for your ideas. From loans and crowdsourcing to angel investments and IPOs, different forms of financing exist, all for which you will be asked to exchange some form of guarantee to pay back the investment. Grants however are given without any required payback.
Your next Waypoint
Search for any grants that could help you finance your ideas. Are there grants available to support ideas that target the same audience as you do? Does your municipality provide grants to kick-start the starting of a company? A tip is to search for ‘grants for business’ in your language of origin.
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