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What Are the Different Types of Self-Employment Grants?

By G. Wiesen
Updated: Feb 19, 2024

Most self-employment grants are either private grants presented to an individual by a company or private organization, or government grants awarded to someone by a federal or local agency. Private grants are given to a self-employed individual or small business by a private company, usually an entrepreneurial business that supports self-employed individuals who are just starting off or foundations started to help small businesses. There are also self-employment grants offered by government agencies in some areas, and these can be federal grants provided by government at a national level, or grants given out at a more local level.

Self-employment grants are forms of funding provided to individuals who are self-employed, usually through a small business or home business. These grants are awarded to those deemed most in need or worthy of such assistance, typically do not need to be paid back, and can be used to help a self-employed individual stay in business or get started. Private self-employment grants come from a private organization, not through governmental support or sponsorship. These organizations can be businesses looking for ways to support other businesses or foundations started to provide grant money to small businesses in need of assistance.

There are also self-employment grants that can be acquired from public agencies, such as government offices. In some countries, there may be governmental agencies created to help support small businesses and self-employed individuals, such as the Small Business Administration (SBA) in the US. Where federal grants may not be available, many areas have local agencies established to provide support for small businesses or self-employed individuals in the community. These types of self-employment grants are also often provided at a state or provincial level, rather than through federal programs, as many states and provinces seek to support small or local businesses.

Care should be taken by anyone looking for self-employment grants, however, as there are a number of offers designed to scam self-employed individuals out of money through such grants. Some companies claim to assist small businesses with finding grants, but charge unnecessary fees and provide little real help. The promise of free money can be alluring, but someone interested in finding self-employment grants should be sure to look into the background of any company with which he or she considers working. These grants also commonly have lengthy application procedures and require a great deal of paperwork to be filled out when applying for them, which means someone applying for such grants should expect a good deal of time to pass before being awarded any money.

WiseGeek is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
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