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Small businesses around the globe can benefit greatly from grants and programs. Whether they are offered by the government or private corporations, grants and programs help small businesses by offering finances, training, and guidance.
There are several opportunities that provide resources for small businesses. Here are a few of these opportunities as well as the benefits of forming an LLC.
Advantages of Forming an LLC
Forming a limited liability company (LLC) is one of the business structures available for small businesses starting out.
There are several benefits that come with registering an LLC, making it a popular choice among aspiring entrepreneurs.
Some of these benefits include the following:
- Limit personal liability by legally separating the business entity
- Less paperwork and administrative hassle
- Avoid double taxation and benefit from the pass-through deduction
- Flexibility in ownership and management
- Flexibility in sharing profits
Does the legal process of incorporating an LLC intimidate you? Then you may be interested in hiring a formation service.
The Benefits of a Formation Service
Incorporating an LLC is the first official step to starting a business. However, the business needs to follow state-specific regulations in order to be legally valid. As each state has different rules and requirements, it’s important to do the necessary research before filing the paperwork.
A formation service can help with the process of incorporating an LLC. Instead of doing the legwork yourself, or paying expensive lawyer fees, a formation service assists by offering guidance. Prepare for a simple, fast, and cost-effective company registration process by connecting with Capital Q Ventures.
Grants and Programs for Small Businesses
Women Founders Network
The Women Founders Network hosts an annual Fast Pitch Competition. As the name suggests, female entrepreneurs are given the opportunity to pitch investors for the chance to win a cash prize.
The opportunity provides access to capital, a platform for visibility, and mentorship connections. The mission of the Women Founders Network is to increase the number of start-ups founded by women that benefit from VC funding.
KKR Small Business Builders Grant
COVID-19 has had a devastating effect on countless businesses around the world. To help alleviate the financial strain experienced by so many small businesses, KKR has partnered with Hello Alice to launch the Small Business Builders Fund.
The fund offers COVID-19 recovery grants of up to $10,000 to small businesses in need. While the capital can help business owners sustain their enterprises, the fund also offers technical expertise and a network of support.
To be eligible, the business should meet the following basic criteria:
- Employ between 5 – 50 people
- Earn less than $7 million in annual revenue
- Demonstrate a strong need for support
- Be operated by historically underrepresented groups
- Provide important community service
Idea Café’s Small Business Grants
The news and resource site supports small business owners and entrepreneurs, even before the business has been established. Idea Café offers $1,000 grants to winners decided by votes from the community.
Wherever your business is based and whatever your needs are, there are funds, organizations and strategies available to help. Get in touch with Capital Q Ventures, and our team of experts will help take your business to the next level.