Passive income also known as "Unearned Income" is income that can be earned automatically with minimal labor to earn or maintain. It can be a great way to help one generate extra cash flow, whether he or she is running a side hustle or just trying to get a little extra dough each month.
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What is Passive Income?
Starting a business is never an easy task. It takes time, patience, effort, and of course, money. Finding resources can be difficult, but you can make something big once you do.
If you look at some of the wealthiest people in the world, you will notice that they began with some capital to get their ideas off the ground. Fortunately, there are many ways to find free money to start a business. Some people invest in start-ups to help them grow, while others lean into securing small business grants.
What is a Small Business Grant?
In 1995, Jeff Bezos got his parents to invest around $250,000 to help him start Amazon. With that initial investment, Bezos realized his dream. However, not all are fortunate to have angel investors, old money, or parents to invest in your brand-new business. For those of us that aren't, there are small business grants.