Most people associate grants with nonprofit organizations, as they do not generate their own revenue. While this is correct, there is a whole world out there of grants for small businesses.
Although for-profits generate their own revenue, many businesses fail to generate enough income to cover all their necessary costs. Entrepreneurs need a constant flow of cash to keep things running in their business, such as payroll, rent, advertising, etc.
Especially during times of the pandemic, many small businesses have fallen through the cracks and are barely holding up. Applying for grants is a great way to gain funding to recuperate from a significant financial loss.
Fortunately, there are many grants available for small businesses. GrantWatch is a platform that has many available grants for nonprofits, individuals, and businesses.
Finding grants may be easy with GrantWatch, but applying for them can be challenging. To be awarded the grant, your application must be well written and detailed oriented. If this is outside your skillset, then consider employing the skills of a grant writer on GrantWriterTeam. Their expertise will increase your chances of acquiring the funding you need for your small business.
What does it take to write a winning grant for a small business?
Below are some tips that will guide you through your grant writing experience, and help you secure the proper funding for your business!
Check the Requirements of the Grant
Grants have specific guidelines as to how they want their applications to look. Look through the requirements thoroughly, as a small mistake can prevent you from winning the grant.
If the funding source requires double spacing and 12’ Arial font, make sure to align with these guidelines. In addition to this, if a grant is requiring the promotion of medical research, make sure to highlight your company’s accomplishments and activities in this area.
Structure Your Grant Proposal Correctly
Ideally, you should follow the exact guidelines of the grant, but at the very least, these elements should be included in your grant proposal.
- Cover letter
- Executive summary
- Statement of need/Problem statement
- Project Description
- Budget Information
Not all grant proposals match this template, but make sure to follow exactly what your founder requires. Remember that you are competing with many other companies that are in the same market, so you must make sure to stand out amongst them.
The Executive Summary Should Stand Out
The Executive Summary is the first thing the founder will be reading, so make certain that it is eye-catching so that the founder will continue to read through the rest of the proposal.
In this document, write specifics of why the grant is needed and how it will aid the grantee. Highlight your value proposition and what issues your company will address.
Make sure to write precisely directed toward the grant, and not to speak in generalities. The founder wants to know why you are the perfect company for their specific needs.
Convey a Professional Image
Your grant proposal must be written professionally and concisely. Each sentence must have meaning and must be essential to the grant proposal.
Write clearly and use industry-specific language, so that your grant proposal is well understood by the founder. A grant proposal that is too long and too complex will leave the readers uninterested in your proposal.
Grammar and spelling are extremely essential. One misspelled word can affect your chances of being awarded the grant. Using an app like Grammarly can be a great way to check your proposal for any revisions that are necessary.
Make sure to proofread your writing and have others on your team read through it, because they may find mistakes that you haven’t found.
Hiring a Grant Writer
Grant writing may be a complex and tedious process for many businesses. That is why many companies hire grant writers to do the job for them.
GrantWriterTeam has many professional and experienced grant writers that can write the grant for you. With the grant writer’s expertise and experience, he/she can greatly increase your chances of winning the grant.