A major difference between grants for nonprofits and grants for small business is that grants for small business almost always require a business plan. A grant writer from GrantWriterTeam.com can help you develop a business plan. Here, I am going to summarize a couple sections of the business plan. A good business plan has the following sub-documents:
- executive summary
- company description
- market analysis
- organization and management
- service or product line
- marketing and sales
- funding request
- financial projections, and
The Executive Summary is considered the most important section of a business plan. It is where you explain yourself. What makes you think you will be successful? This summary should be comprised of the following section titles: Mission statement, Information, Highlights, Products/Services, Financial and Future Plans.
Our grant writers are skilled communicators and can help you come up with a clear and decisive Mission statement.
The Information section should include when your business was founded, by who, and the number of employees you have plus your locations.
Highlights should include information about growth, especially financial. Here, you should write about profit margins.
The Products/Services section obviously explains your product or service.
The Financial section should include your bank and the identities of any lenders.
Finally, in Future Plans, expound upon where you want to see your company in 10-20 years.
According to the Small Business Association, (SBA), the following are section titles for the market analysis: Industry Description and Outlook, Information About Your Target Market, Pricing and Gross Margin Targets, Competitive Analysis and Regulatory Restrictions.
In the Industry Description and Outlook, include information about the size and growth rate of your industry. Get into the history of your industry and include major customer groups.
Within Information About Your Target Market, include who is your target market. Remember to have a narrowed market because casting a wider net may not bring in a bigger yield but instead, waste resources. Know your market’s distinguishing characteristics, size, and how much market share you can potentially accumulate.
The Market Analysis also has other sections such as Pricing and Gross Margin Targets where you include your pricing structure.
The Competitive Analysis is where you evaluate your competition.
Finally, Regulatory Restrictions is where you include any laws or regulations affecting your business, and how you plan to follow them.
A grant writer from GrantWriterTeam.com can help you write all the sections of a business plan to include as part of your grant proposal. Remember to give them the complete and correct information so that he/she may write accurately. Fill out a request for a writer here and call (561) 249-4129.