Forums: Discussions for entrepreneurs and small business.

Quoting two investment experts on msnbc today discussing grants for small business:

Ken Yancey, CEO of SCORE "I've been doing this for 16 yrs and never met anyone that got a grant."

Phil Town, bestselling investing author, "...must be 20-30 websites about U.S. grants. I think they're all scams."

This is what I've been advising entrepreneurs for years...there are no grants for small biz start ups or for-profit small businesses. Stop chasing those non existent grants.

This is also why I created an alternative funding source. Follow that discussion here: http://tinyurl.com/yklj6tc

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Sylvia Business Plan Mentor

Hi Sylvia, I appreciate your post and agree that most of the sites that offer some sort of matchmaking services with grants and investors are scams with the operators of these sites being the only ones that get something out of this.

However, with that being said, I wouldn't go so far to say that there are no grants and nobody ever get a grant.

Over the years we have been working with various client that successfully received grants, especially in alternative energy field. For instance, we worked with a client in this field that receive various grants from NYSERDA (New York State Energy Research & Development Agency) and Consolidated Edison (http://www.fastventures.com/en/clients/case_gaiapower.php). Also, let's not forget about the thousands of grants that were made available to NYC businesses in the wake of the 9/11 attacks (i.e. I Love New York program).

I'm not saying that any small business owner should rely on grants or those who promise to know how to find them, as a viable source of financing, but for few, who are in the right industry sector, grants remain a viable option.

It's no different than dealing with investors, you have to be prepared to put a lot of work into it to pull it off. Those who promise shortcuts to achieve either goal are usually scams.

I hope this helps.

Mark

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Jackson Steiner
http://www.JacksonSteiner.com

Advanced Document Design for entrepreneurs, intermediaries, and the financial services industry.
http://www.Publications.FastVentures.com

My apologies for putting out such a blanket statement.

Addmitedly, when I tell people there are no grants I usually elaborate and explain that the grants that are available are usually for highly specialized fields or for specific economic development in specific geographical locations, or for situations such as Mark described.

Additionally,  you will occassionally find a "contest" type grant but the payout is often quite small and the competition is fierce.

But, for the average entrepreneur, I stand by my statement and add, don't waste your time or money looking for free government money.

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Sylvia Business Plan Mentor