Seeking grants can be a strategic move for entrepreneurs for several reasons:
Non-repayable: Unlike loans, grants do not need to be repaid, which can significantly reduce the financial burden on new businesses. Validation: Receiving a grant can serve as a form of validation, enhancing your business credibility and potentially attracting additional investors. Resources: Grants often come with additional resources such as mentoring, networking opportunities, and access to specialized incubators or accelerators.