business grant application writing

business grant application writing

Effective Strategies for Writing Successful Business Grant Applications

1. Introduction to Business Grant Applications

It should be emphasized, at the outset, that submitting a business plan is not an easy matter; very large amounts of wasted time, disappointment, and frustration annually result from efforts to obtain grants – a significant percentage of which never existed, at least as viable candidates for federal dollars for specific financial assistance. Successful grant seekers only prepare and submit business grants that are offered, in other words, are actually available and can be written to be perfectly consistent with each known requirement of the funding source. The reality is that few businesses receive grants, at least in the form of outright gifts, because grant laws and regulations require public benefit, have prohibitively complex requirements, and generally limit the use of most government funding to financial assistance in the form of contracts, loans, loan guarantees, and other such instruments. Grant seekers also are quickly discouraged when technical difficulties, in fact, ignorance of the considerations peed they make optimally advantageous grant submissions, cause them to not according to the funding source’s specifications, no matter how laudable and undeniable the public benefits may be that will flow from the request.

However, many businesses and most business-related organizations can benefit significantly and in recognizable ways when receiving grants for specific research in areas of public concern, development of new and improved products and services, or funding of basic organizational projects such as building renovation or purchase of new equipment. Businesses are sometimes eligible for grant money (in the form of training funds or hiring incentives, to name a few types of permissible grants that small businesses can sometimes receive). Many commercial activities that are engaged in by small businesses are capable of producing benefits to the public, as well as profits and prosperity to the business enterprise. A remarkable number of private-sector proposals are therefore prepared each year.

Corporations, small businesses, and other organizations spend billions of dollars each year pursuing numerous types of business grant applications (also called proposals, submissions, bids, offerings, and many other names). These funds – from both federal and state governments, and from private foundations – are offered to assist in solving public problems in nearly every conceivable area of interest, and in every activity that is not business-related. That is, no grants are made with a primary goal of helping businesses.

2. Understanding the Grant Application Process

Once you have established what grant options are available, you need to take full advantage of them. First, remember that information equals power. The most successful grant applicants have a keen awareness of what is available to them and place themselves in the best possible position to take advantage of grants. Secondly, understand the grant process and treat it seriously. It is essential that you understand how to make an application. There are many factors that contribute toward making a successful application that are outlined in subsequent chapters, but start by looking at the basics. Thirdly, understand what makes an effective grant application. What do the assessors want to see? What is the selection process? What do you need to earn the right to be a grant recipient? Understand what the funding body is looking for. If you understand what processes are involved, it will enable you to submit a competitive application and manage successful outcomes.

Preparing an effective business grant application begins with a good understanding of the process. This chapter introduces the concept of business grants and provides valuable practical advice about how to write a successful business grant application. Many businesses are unsure whether grants are a practical and viable funding source for them. The best way to assess the viability of grants is to examine the types of grant schemes on offer and consider what types of activities are funded, the amounts of money available, and the objectives of these schemes. The two main questions a business must ask are: what is there to gain? And, is there anything to lose?

3. Key Components of a Successful Grant Proposal

Executive Summary. The executive summary is a brief, one-page summary of the contents of the application. The summary should contain enough detailed information so a reviewer will understand the project, whether it is a new project or the continuation of an existing project, the amount of money requested, how funds will be spent, the length or duration of the project, and who in the organization is responsible for the grant application. Keep in mind that a summary is a synopsis and not a composition, as maximum effectiveness in the use of words aids in and influences the interpretation of the subject’s objectives. A quick review by a colleague after writing the proposal should include the question, “After reading this summary, do I have a clear understanding of what this project is about?”

Table of Contents. The table of contents includes either a listing of all major sections in the proposal or a listing of major sections and subsections or includes both. Some agencies accept either format. A listing of tables and figures is also appropriate at this point. The table of contents is important as it allows readers to quickly scan the proposal and find the information they are looking for.

Title Page. The cover page of the grant proposal should state the proposed project title, the agency to which the proposal is submitted, the name of the potential award recipient, address, telephone, fax number, and electronic mail address. Also, if the project is being submitted in response to a call for proposals, the request for applications number can be included along with any other identifying information that is important. The applicant’s organization or fiscal agent, the organization’s address, telephone, fax number, and electronic mail address are listed. If the organization has a business identification number or Dun and Bradstreet number, it should be included. This information can usually be found in a profile report from the previous year, and some agencies may even ask for a copy of the profile. These numbers are used by some funding agencies and the United States government for identification and tracking and can be obtained free of charge from the local public library or from their respective organizations.

4. Tips and Best Practices for Writing a Compelling Grant Application

Limit narrative-based text to five to seven pages. You may have all sorts of important information to share with your grant application, but think of providing that information in abbreviated and direct fashion. A concise project narrative (five to seven pages is a common request) allows an evaluator to more easily read through your proposal. It will be helpful for the evaluation panel if you can structure the application in line with the evaluation criteria and specify where the information can be found. You can do this by listing the evaluation criteria and sub-criteria that correspond with the table of contents of the proposal, together with the page numbers on which the reviewer can find the information required. If an evaluator has to go on a scavenger hunt to find specific pieces of information in the full proposal, you are potentially adding to their workload and potentially taking away from the overall resolution you are trying to secure.

Consider other questions that might logically arise. What is your plan, and what are your deliverables? Where is the geographical area where the project will take place? When do you expect to see outcomes from your project, and when will the project start and finish? How will you provide your solution and describe any existing data or resources you can draw on? Because these are the common pieces that reviewers will evaluate, be sure to address how you will provide your solution and describe any existing data or resources you can draw on. Offer enough information in a clear and coherent way to present your ideas effectively. Do not rely strictly on formats such as bulleted lists or long narratives. Provide a combination of both to permit grant reviewers to read and comprehend your proposal in more than one way. Use the criteria for the application to determine the order of your grant proposal.

Address the criteria and selection process as specified. Once you have invested the time to create a comprehensive project plan, someone else (often a person unfamiliar with your business or your project) will be reading and scoring your application based on criteria provided for the grant competition. Study the criteria for your grant’s specific competition to gain a thorough understanding of the pieces considered during the review. Consider setting up a grant proposal like a school book report, ensuring that the information required in “the five Ws and the H” are addressed: Who will be responsible for the project and involved in the implementation? What will you do and why is it important? When will your project be completed?

5. Case Studies and Examples of Successful Grant Applications

I would also recommend that all of you read the Grant Application and Guidelines. OMD assessment staff members indicate that those companies that present the grant requests in a clear and concise manner have a higher success rate. Frustration will slow down the process, and you can become bogged down. So, make it easy for the reader, highlight the information. Little proactivity goes a long way.

itis.fm Inc. – Music Television magazine and franchised broadcasting tool project itis.fm’s launch is designed to take the music scene by storm. Project Activities completed March 17, 2004. chicago.itis.fm printed and distributed the first 70-80 page capitalizable showguide magazine with music tv from contemporarypool.program hitsongs for 350 hundred-to-several thousand Chicago area bargain seekers – 27 separate cartoons by advertising coupon categories.

5M Music LTD. made by Canadians, coming soon to a world stage – artist marketing and product development plan 5M Music has contracts with three new artists for 2003-2005. In addition to recording and performing, these first product resumes and management contracts included materials for the creation of one European model compact disc for approximately January 2004. 5M Music does all of its own recording and production – studio facilities – it was established in 2001.

Redefining Entertainment Enterprises short films for young kids – not commercial television (Short Film Production – Category 1) Redefining Entertainment produced 80 minutes of unique 1-minute live action stop motion animation short stories for young kids accompanied by music. The original stories are charming adventures with a neat idea. A 50% buyer of product 2003-04 bought 40 more stories; Redefining sold 50.

Denham Company first-time Export Market Development grant (Product Development Grant Category) and Market Studies grant Denham’s “Redeployed Furniture” uses strange or orphaned office furniture parts from storerooms to create fun and functional new products. This market development/project was completed in 2003-2004. The marketing materials to be distributed in the Central US market in April 2004 under the banner “Innovative, Cost-savings, FUN”.

Here are a few examples of grants that OMD has supported over the last few years:

These are samples that you can use to understand these documents, but please remember to get guidance from OMD on specific items.

This page includes successful grant applications supported by Ontario Media Development Corporation.