Q: I am hopeful of finding government grants/loans to open a business as a woman entrepreneur. Can you provide any tips on how to get started?
In most cases the government grants that are available focus on technology research and homeland security. However, if your business idea is one that tries to capitalize on green concepts, helping the environment, browse the U.S. Department of Agriculture Cooperative State Research, Education and Extension Service Web site at csrees.usda.gov/index.html.
It has several resources appropriate for small businesses.
Also, check out the Environmental Protection Agency's Web site at http://es.epa.gov/ncer/sbir. EPA is one of 11 federal agencies that participate in the Small Business Innovation Research Program. To take part, a small business must have fewer than 500 employees, and U.S. citizens must own at least 51 percent of the business.
The program supports development of innovative technologies that "improve our environment and quality of life, create jobs, increase productivity and economic growth, and improve international competitiveness of the country's technology industry."
Also, many commercial banks now recognize the value of doing business with women. Begin by talking with the banker holding your personal account. However, don't stop there. Talk with other banks to compare terms. Be aware that under current economic conditions, it may be difficult to attain funding for a business startup.
Regardless of how you seek funding for your business idea, keep in mind that you will need a strong business plan that shows you know how to operate and that your concept is a valid one.
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