Tuesday, February 3, 2015
Can I Receive Grant Money for My Non-Profit Business?
Feb. 3, 2015
I believe I am finally ready to start a business. I want to form my own non-profit organization to fed, clothes and shelter the homeless. Will I be able to get grant money to do this? Eager To Get Started in DC.
Dear Eager to Get Started:
I don’t know if you have been paying attention lately, but the U.S. doesn’t really care about homeless people. As a matter of fact many cities have declared war on the homeless so starting a business to fed, clothes and shelter them will be extremely hard to operate and be successful.
There is a lot of misinformation when it comes to non-profits and grant money. If you decide to move forward with this venture go in with both eyes opened. Only certain groups are getting this grant money.
The biggest myth about grant money is that it is readily available for businesses who is performing great work in the community but the truth is we’ve all seen the headlines -- “Millions in free government money for your business.” Late-night infomercials, reference guides and websites promote the availability of grant money to entrepreneurs for starting and expanding businesses.
Does it sound too good to be true? Well, it is! Generally, cities, counties, school systems, and other non-profit entities are the groups who receive grants. In addition, some federal and state agencies award a limited number of grants for very specialized business activities dealing with scientific research and development.
Everyone has great ideas, but the reality is if you open a “non-profit" business, the chances of you getting grant money is very slim. Your goal instead should be start a “for-profit” business. You can view a list of potential businesses in my business book “The New CEO: 185 Easy-To-Set Businesses for Youth and Adult Entrepreneurs” and this business book will take you through the entire process -- "How To Take Control of Your Own Life: A Self-Help Guide to Starting a Business (Series 2)."