i am about to start my own construction business.what grants or any help can i get?

Question

i am hopeing to build houses and bunglows in and around my local area.

Answer 1

You stand a greater chance of getting a government-guaranteed loan through the Small Business Administration http://www.sba.gov/financing than a government grant. Read the SBA Financing page to learn about criteria needed for borrowing

It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business.

Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.

Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/mostrequesteditems/CON_FAQ2.html

"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."

Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business -- THERE'S NONE.
http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show

Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program

Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs

I suggest you read the following books to get ideas of how to finance your business:

Financing Your Small Business http://www.amazon.com/exec/obidos/ASIN/1572484500/powerhomebizguid
Small Business Financing: How and Where To Get It http://www.amazon.com/exec/obidos/ASIN/0808007386/powerhomebizguid
Financing the Small Business: A Complete Guide to Obtaining Bank Loans and All Other Types of Financing http://www.amazon.com/exec/obidos/ASIN/1580626815/powerhomebizguid
The SBA Loan Book http://www.amazon.com/exec/obidos/ASIN/158062202X/powerhomebizguid
Angel Capital : How to Raise Early-Stage Private Equity Financing http://www.amazon.com/exec/obidos/ASIN/0471690635/powerhomebizguid
Financing Your Small Business (Barron's Business Library Series) http://www.amazon.com/exec/obidos/ASIN/0764124897/powerhomebizguid

Answer 2

Some of your biggest costs are going to be UK land costs, if you wish to build from scratch. Check out your local land prices, and see if you think you have any chance of raising that much money.

Your potential bet is going to be via a bank, who knows your track record, if any, of running a business. Remember that there is some predicted fall in house prices that is expected, and you could be left without much profit too! That sort of issue will affect any lender.

If you're going into specialist rennovation, say of derelict but protected old houses, then there may be some form of local authority grant that you will get - this depends on your local council though, and how much money they have left in their coffers - remember, council tax payers are shouting for lower council tax, so again, money is tight for this too.

You could start to see if there is some leeway by doing insulation etc. for people, which can earn the householder a grant, payable to yourself. This particularly works for elderly, disabled people etc.

Good luck! Rob

Answer 3

You may be able to get start up grants depending where you live - ie if you start up in an area of high unemployment or economic deprivation you may get some financial assistance. Try www.j4bgrants.co.uk where you will be able to see if there is anything going where you are.

Also try your local Business Link who will have a business adviser you can access free of charge and should have a knowledge of any local financial assistance, as well as be able to help you with business plans, cash flow forecasts etc.

Also go and see Princes Trust if you are under 30 - they have a range of grants and soft loans for 16 to 30 yr olds.

Good luck.

Answer 4

I recommend you start by doing loft conversions and house extensions .. these days it can take YEARS to get planning permission for new homes (why do you suppose house prices are still going up ?)

However with the imposition of Stamp Duty more & more people are refusing to waste upwards of £20,000 b y moving and are staying where they are instead of 'trading up'.

They are extending their existing homes instead of moving - the owner is the one who has to spend 6 months to 1 year getting the plans approved, so all you have to do is get stuck in on the building ...

NB> I highly recommend employing Polish Builders (unlike the idiots who employed the work-shy morons who started next doors loft extension 2 years ago and are still turning up 1 day a week to finish replacing the guttering ... )

Answer 5

not to put a dampener on your plans but i tried to start a construction business two years ago and i had £20,000 behind me, believe me it went like that.
government grants no any other grants yes time frame about 3-6 months processing and vetting meanwhile you have to sort out tools and insurance plus employees files and insurance and then local competition.
result now on the verge of bankrupcy due to influx of cowboy builders.

so good luck to you

Answer 6

There aren't any grants available for this type of business. But, you might look into a business loan.

Answer 7

your not going to get grants for that .... why should you