The job scenario has become challenging in the current climate of recession. Several people have lost their jobs in the past few years and faced difficulty when it comes to managing funds for even the most basic tasks. A large majority of people have a dream of someday starting their own business but more often than not this goal remains unfulfilled due to lack of funds. People can now apply for government grants in order to get over the lack of finances and turn their dreams into reality. These federal grants for small business have major potential and are not as difficult to acquire if you conduct ideal research and get all the necessary documents in place. Grants are available for a large number of reasons ranging from education to setting up your own business. Before you start preparing for the application it is important to know which type of grant best suits your requirement. For e.g. federal housing grants are ideal for those who want to secure their own home while home improvement grants are best suited for those who want to renovate existing homes. Want to chase your dreams of having a higher education degree? Do your research and apply for pell grant and watch your education dreams come true!