South Dakota Small Business Grants
Written by admin on December 7th, 2010The South Dakota government awards business grants to the South Dakota residents and small businesses. There are 60 state government grant sources and over 200 federal government programs available for small businesses in South Dakota.
Many federal grants are awarded to organizations, institutions, State and local governments planning major projects that will benefit the specific sections of the community as a whole like street paving project, program to retrain the displaced workers, attracting new businesses in a backward area, water conservation program, flood control projects etc. The small businesses availing the grants are subject to strict government overview and they must meet the performance standards during the funding period of the grants. Some states provide grants for expanding child care centers, creating energy efficient technology and developing marketing campaign for tourism. These grants are not free money as the recipients are required to match funds with other forms of financing.
Most government grants are awarded to other federal agencies, states, cities, colleges, universities and research organizations. Due to severe competition, getting the grants are becoming more intense as it requires a lot of time and money with no guarantee for success. As detailed audit will be conducted by the government annually, the complete expenses incurred for the project should be properly accounted. If the grant money is not spent fully, then the balance amount will go back to the treasury. The project goals must be developed, approved and carried out as specified in the grant application. The project should get completed within the stipulated time with success.
The small business owners can apply for multiple grant programs at a time for running the business in and around South Dakota. In addition to the grants, the South Dakota government offers free consultants who will help to get the government contracts, provide free management advice legal help as well as information as to how to get more money and more business.
South Dakota government grants need not be repaid as the money given is to help those small business owners who are in need of financial assistance for startup or expansion of the business. By going through the South Dakota government grant listings, the business owners can find out the suitable government grants details from the database. The amount of money given as grants varies and some government grants are given throughout the years.
As the options for getting the funding from the traditional sources like banks and venture capital firms are very limited for small business women, there are grant resources made available for South Dakota women for starting a new business or own an existing business. The South Dakota business women interested in applying for grants can get more information on grants at Small Business Development Center offices located in various cities.
The application for grants will not get approved unless it is accompanied along with a detailed business plan. They will have to prepare a clear expenses budget and submit to the Small Business Development Centre so as to establish that the business grants are being fully utilized by them for that particular business proposal.
Small Business Grant Source:
Learn the application procedures, various funding sources for specific types of businesses and eligibility criteria for small business grants. You can find the most comprehensive information on availing of small business grants by visiting this online guide on grants here
