Use Grant Money to Help Business Relocation!

by : Andy Andersohn

Business Relocation: How to examine the grant money options.

Business relocation can be a costly procedure. Not only is there the actual cost of moving the business, but ancillary costs can escalate. Hiring and training new employees can be substantial. If necessary the business may lose days if not weeks of production. Data can be misplaced or lost causing customer service problems. Key employees may elect not to make the move further adding to the overall cost of relocation.

In these cases, many companies start looking for other sources of capital to assist with the relocation. Business relocation grant money may become a consideration for the informed business owner. For those who have already considered business relocation grant money, there are a number of ready options that can be resourced by the business that needs to relocate their operations.

Following are a review of a few of these options. Look them over and see which ones may be applicable to your business relocation and it's accompanying extraordinary costs.

There are several online organizations that appear to specialize in providing resources, information, and access to grants and loans for every conceivable need including, education, occupational, and small business assistance. Accurate information that you can use to help in your relocation requires viewing the information offered with a critical eye.

After some investigation you'll find that some of the small business grants service firms do not provide all the services they advertise. For those businesses that do find business relocation grant money, it may take some time to research different organizations to see if their reputation and credentials are legitimate. For those that prove to be sound in their practices, the next obstacle may be whether your business meets the requirements to receive grant money.

Although becoming more popular, these independent online organizations, they still have not replaced the traditional sources like federal, state, non-profit and endowment funds, all which offer some provisions for issues like business relocation grant money. Most of these more traditional options will contain a mixture of public and private funding institutions.

Federal and state grants, as well as those provided by non-profit groups are generally distributed on the basis of panel approval of the business seeking grant money to be used in its relocation efforts. These traditional options generally seek to govern how the money is used. Another consideration is that the funds are used consistent with the grant request and is appropriate to the other guidelines of the granting organization.

Economic development departments within various regional planning commissions, cities and state agencies also dispense grant relocation grant money and other financial assistance. In addition many states have programs which provide financial, tax and assistance to relocating corporations.

The assistance provided, generally, attempts to benefit specific areas that it has been determined need additional economic development. The introduction of new businesses, it is planned, will often have a revitalizing effect on the local economy. For more information on specific areas you can contact the areas Department of Economic Development.