Start Up Companies – Do you qualify for Government Grants?November 14, 2012
What your business needs to do to qualify and apply for government grants.
In the last several years I have had the pleasure of working with talented entrepreneurs and innovators across many industries. I have noticed that many entrepreneurs’ possess an uncanny passion for what they are building. Passion for your business is a critical factor for the success of a start-up venture. In addition to passion a successful venture must have a good plan and align themselves with professionals that have the expertise and knowledge to guide them in the right direction.
Recently many of our clients have been asking us to assist with finding grant opportunities. One common question they ask is: “Is my business able to get a government grant?” The answer is “It depends”. The following are eligible to apply for government grants:
- Government agencies
- Educational organizations
- Public housing organizations
- Non-profit and for-profit organizations
- Small business
The federal government releases new grant opportunities daily. To find listings of grants you may qualify for go to www.grants.gov, which allows you to search for grants given by a federal agency. Many opportunities exist for the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) program which encourages small businesses to undertake research and development (R&D) projects that (1) meet federal R&D objectives and (2) have high potential for commercialization.
We have worked with our clients to identify grant opportunities, assist with creating reports in the existing accounting system, help with their existing grants and contract compliance, create budgets, set up accounting systems and procedures, identify R&D credit opportunities, create web sites with e-commerce functions and education on how to use their existing systems to give them the required tools for grant compliance.
If you are an entrepreneur that has the passion to grow your business, KLR has the expertise to help you obtain and comply with grant requirements. Please contact any member of our emerging and start-up companies group for more information.
KLR, one of the leading accounting firms in Boston, offers a wide range of services to assist startup companies in creating business models and navigating through the early stages of development. Benefits include bookkeeping services and financial statement preparation, talent recruiting, business valuations and general consulting, and assessments from trusted advisors.