The federal government seeks to offer business support to unemployed individuals. Business grants for the unemployed range from business assistance, capital support and even business counseling and training. Depending on the scope and target group of the program, eligibility and requirements for such grants may vary. For instance, some grants specifically target rural areas and members of such communities. Unemployed individuals may have to show proof they are part of the community to be eligible.
Microenterprise Development Grants
Unemployed individuals may qualify for different business grants, including the Microenterprise Development Grants program from the Small Business Administration. The main objective of the program is to encourage the creation and development of microenterprises. The program also helps interested individuals learn proper entrepreneurial skills. The grant specifically aids in helping entrepreneurs expand their business. The grant also caters to individuals who want to start their own business, including those who are unemployed. Business assistance is offered at little or no cost. Eligibility requirements comply with the Prime Act. The Microenterprise Development Grants program is authorized under the Riegle Community Development and Regulatory Improvement Act of 1994.
Unemployed individuals can also get business ownership assistance from the federal government if they can provide proof they are part of the economically and socially disadvantaged sectors. Unemployed individuals seeking to start their own business may apply for a Business Development grant under the Small Business Administration. The main objective of the program is to help individuals from socially and economically disadvantaged sectors to jump-start their own enterprises and develop the necessary skills to properly manage the business. The program also provides funding to qualified individuals. The program is authorized under the Small Business Act of 1953.
Rural Business Enterprise Grants
Unemployed individuals in rural areas may qualify for rural business development grants from the federal government. The Rural Business Enterprise Grants program seeks to create and expand small and private business in rural areas. Unemployed individuals may seek help from distance learning networks in their communities to help them jump-start their own business. These networks are funded to help interested individuals learn proper business development skills
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