Starting a business as a student is an exciting and eventful experience where you will have to face many hurdles in order to become successful. Throughout the process of starting my own business, I went through several challenges that many students who own businesses face and learned a lot of lessons that I want to share today.
Worrying about your finances is perfectly normal for students and one where having a full savings account, wealthy parents, or another source of capital would certainly come in handy. Starting out on your own can still be done with a small capital, no matter what your financial situation looks like. Continue reading
With access to capital being so tight right now, grants are a hot topic among cash-strapped entrepreneurs looking to start or expand a business. Each year, the United States government supports businesses by providing billions of dollars in grants administered by 26 different federal agencies. More than 1,000 business grant opportunities are offered through the federal government each year and thousands more are offered through state and local agencies.
Out of the $600 billion in grants the federal government gives out every year about 5% ($30 billion) are awarded to businesses. The rest go to states, governments, governmental agencies, nonprofit organizations, universities, schools and school districts. When the federal government does provide grants directly to businesses, most are awarded to support research and development activities—primarily related to technology, energy, healthcare, public safety and criminal justice, among others. Continue reading