When applying for a business grant, there are many key elements that can greatly improve your application’s chance of success.
Here are 10 top tips to remember when sitting down to write any business grant application:
- Make sure you are eligible.Check the eligibility criteria thoroughly before you start putting a lot of work into the application. If there is a small detail within the criteria you have missed which means you don’t qualify, it could mean your application is dismissed at the first hurdle!
- Thorough Research and Planning. Do thorough research to understand the need for your project so that you can demonstrate the positive impact your project will have with confidence.
- Read the questions carefully and plan you answer. Make sure you are fully answering the question. They have been carefully designed to make sure the assessor can get all the information they need to make a decision in your favour!
- Tell the assessor all about the project. They know nothing about it until they read your application and you know everything – spell it out for them!
- Write a Clear and Concise Proposal.Your application should have a well-defined and focussed proposal that clearly communicates your project idea, goals, and how the grant funding will be utilised.
- Include a Strong Value Proposition.State clearly the unique value and potential impact your project will have. Highlight the problem or need your project addresses and how it will benefit the community, economy, and/or specific target audience. Emphasise the potential for job creation, innovation, or social impact if appropriate.
- Make sure you include all the information requested.This could include a detailed project plan that outlines your objectives, strategies, financial projections, and timeline including key milestones. Refer back to the guidelines regularly to make sure you are providing everything needed.
- Demonstrate your capability and expertise.Showcase your team’s qualifications, relevant experience, and track record of success. Highlight any key partnerships or collaborations that add credibility to your project. Provide evidence of your ability to execute the proposed plan effectively.
- Emphasise Financial Sustainability and Accountability.Present a comprehensive budget that demonstrates a clear understanding of the costs associated with your project and how the grant funds will be used. Provide financial projections over the lifetime of the project, your plans for long-term sustainability and emphasise your commitment to financial accountability and how you will report against key targets.
- Check your application before sending it.Proof-read your application thoroughly, or better still, get someone else to do it for you. Then, once you’ve ensured all the required documents are included, make sure you submit it before the deadline.
Remember, each grant application may have specific requirements and evaluation criteria, so be sure to carefully review the guidelines and tailor your application accordingly.
Good Luck with your application!
What funding is currently available?
Applications are currently invited for grants from the UK Shared Prosperity Fund please see https://www.investinshropshire.co.uk/relocating-and-investing/uk-shared-prosperity-fund/ for further details
For the West Midlands Grant Programme see also https://www.investinshropshire.co.uk/relocating-and-investing/uk-shared-prosperity-fund/
Other business funding might be available to you via the Marches Growth Hub Shropshire please see https://www.investinshropshire.co.uk/relocating-and-investing/business-support/