Grant Money Available to Start a Gift Basket Business

by Shirley George Frazier on October 30, 2008


“Those who are looking for the money, we want to let them know we are giving away more than $500,000 in grant money just sitting there waiting for someone to meet the criteria,”…

Money to start your business – yes, it’s still out there if you look for it, even as the media constantly paints a doom and gloom economic picture.

A representative for The Center for Business Development at Indiana State University stated the above quote in Monday’s MyWabashValley.com. You can read the article here, and I hope that Indiana-based gift basket designers and aspiring designers apply.

This type of program is the reason I talk about where to find money sources, which begins on this page. Monies continue to be available. It’s a matter of you looking for it, uncovering sources, and applying for funds.

It’s important to realize that no institution will simply hand you the money. As the article states, one of the key factors is to be “willing to put forth the effort.” That goes beyond a mere idea. You must:

  • Create a business plan
  • Research the current gift basket market, specifically in your region
  • Project your revenue for five or more years
  • Document the competition, listing all strengths and weaknesses
  • Be ready to answer questions about your entire plan in front of the people who will approve you for funds
  • Most of all, prepare a complete plan that focuses on a specific underserved gift basket niche. That’s what will truly get attention and funding.

    If you’re not based in Indiana, there’s still possibility that a business development center in your state or country has such a program. It’s up to you to find it.

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