It is a common misconception that the US government can issue grants or “free money” to help veterans, minorities, and women start their own businesses. This is simply not true. The United States federal, state and local governments have initiatives in place to help these populations but “free money” is not in the government’s budget. The most common way the government assists these audiences is through offering work contracts to businesses owned by minorities and/or women. Many large corporations also have contracting goals where purchasers will actively seek out minority and women owned businesses to contract with. The Small Business Administration (SBA) also offers incentives to banks that sign business loans to qualified veterans, minorities, and women. More information can be found on the SBA’s website at: http://www.sba.gov/services/specialaudiences/index.html.

If you are interested in taking advantage of government and corporate contracts as a minority or women owned firm, visit our How Do I Find Government Contracts webpage.