Capital is the most vital component of a business. Whether you are the owner of a startup, a fledgling retail business, or a venture that wants exposure to new markets, you need funding in the form of grants or loans if you cannot afford all by yourself. Capital is also needed to survive and grow when your business is negatively impacted by a natural disaster or a pandemic. Thankfully, there are lots of grants available from the Australian government at federal, state, and local levels. But there is stiff competition among businesses to get approved for a grant. In this article, you will understand on how to strengthen your grant application so that it gets approved by the assessors.
Choose the right grant
This is very important if you want to increase your chances of being selected for funding. Just because there are so many types of grants available from the government doesn’t mean you need to apply under a grant whose objectives do not align with the activities of your business. Visit the grant portal and read the programs and activities for which funding is available. It will help you in choosing the right grant whose funding objectives align perfectly with your business
Check your eligibility
Every grant comes with its own set of eligibility criteria. It means that only some people are eligible for funding under the program. It is not prudent to waste your time and effort in applying for a grant only to discover later on that you didn’t qualify for a crucial eligibility criterion. Most of the applications get rejected only because businesses ignore selection criteria and do not check their eligibility.
Writing the grant application
Assessors go through the application carefully to decide whether to go ahead with it or reject it. It is a good idea to write it in a formal manner and avoid using conversational tone. Stick to the word limit and keep paragraphs short and easy to understand. It is necessary so that your application is easily understood by an assessor unfamiliar with your industry. Choose formatting, bullet points, headings and subheadings cleverly to allow the assessor to get to the key points quickly. Make sure you have inserted relevant keywords mentioned in the guidelines of the funding portal.
It is very important to describe how your business activity aligns with the objectives of the grant and all the stakeholders.
Give a thought to using services of a professional grant writer
There are professional grant writers to help applicants in writing a wonderful grant application. Like resume writers, these writers have the skills and the experience to write grant applications in a convincing manner to increase the chances of being selected for funding. Before going ahead with the services of a grant writer, make sure you talk to them so that you can give your inputs about your business activities and also to suggest ideas why you are the right candidate for this funding. A great introduction to your business gives your grant application an edge over hundreds of other applications that assessors have to go through.
Simply put, your grant application has to be really strong and relevant covering all the requirements of the program to stand out from the rest of the crowd and to win financial assistance from the government. If you want more information on how to strengthen your grant application, please speak to one of our advisors at the number mentioned below.