Federal grants for starting a business do not exist -- but there are certain grants for growing a business and other initiatives that help achieve specific agency agendas. For example, in order for America to be competitive globally -- the SBA administers grants for small businesses conducting scientific research & development and innovation in high-tech (SBIR/STTR). Government grants are very competitive and have strict rules for what the funds can be used for. The STEP (State Trade and Export Promotion) grant originated because of the Small Business Jobs Act of 2010. Part of this law builds on the President’s National Export Initiative, supporting and promoting American companies to grow sales outside the United States and create jobs – which is why we have the STEP program.
Westborough, Massachusetts-based EMSEAL took full advantage of SBA’s STEP program in 2013 -- using a 10K grant to fund a trade mission to the United Kingdom and a targeted print media campaign to... Read More