Many people have good ideas for a business, a way of filling a market need with a supply of a desired product. For example the pet toy, Zhu Zhu, became a best seller during the Christmas seasons, with sales exploding all across the country in toy stores because the toy fulfilled a need little children have for a hamster. Parents could delight their child with a hamster robot for $10 that would save them the bother of the care and feeding of a real hamster.
Some of these people are ready and willing to act on these ideas.
Unfortunately, all business ideas cost money. It costs money, often a large amount of money, to build prototypes, hire people, rent a business office, and conduct a sales and marketing strategy.
Although entrepreneurs can borrow money from friends and relatives, they are now obligated to return the money after they have turned a profit. What happens if the business fails because it is under funded? Similarly, entrepreneurs can borrow the money from a bank, this time enough money to stay in the game longer, but they have to pay high interest on it. Finally, entrepreneurs can find angel investors who will back them up, but while this money is sufficient in amount and does not come with an interest rate, the price is giving up more than half to three-quarters of the ownership of the business.
However, there is a fourth and final solution: a US business grant.
Anyone who is a citizen or a legal alien can apply for a US government business grant.
Apart from receiving money that is free to use for their business, the entrepreneur is also given free legal and business counseling from former industry experts, a service that could well run into $10,000.
To qualify, the entrepreneur has to fulfill the requirements of the grant.
For example, the grant may be offered to start a business, grow an existing business, hire disabled people or minority members, or be used to fulfill the needs of a government contract.
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