Top Rules to Follow When Applying for Grants
The Government Grants landscape can be particularly challenging for new applicants. The area of focus, applicant eligibility, permitted expenses and expected outcomes can drastically differ between each program. A successful application must consider all of these while building a compelling business case for the project. Businesses can improve their chances of success by following 3 simple yet effective rules:
1. Understand the policy need behind the program. While all grants may offer funding, understanding the reason behind each program can help applicants determine the priority areas and focus of each of these programs. This enables businesses to align their projects with the program’s focus areas and increase chances of success. While applicants don’t need to conduct in-depth policy research, it pays well to understand the reasoning behind a program and what it is trying to achieve with the funding.
2. Review the list of eligible and ineligible activities. This allows applicants to understand costs that can be funded by the grant and develop a project budget and scope. Without an understanding of the allowable costs, applicants run the risk of incurring expenses that will not be reimbursed. Moreover, a lack of understanding of ineligible costs can result in a bloated budget and project scope. Ultimately, applicants may incur expenses that are not reimbursable by the grant or an outright rejection of the proposal.
3. Leveraging subject matter expertise. While grants may appear straightforward, applying for them can involve numerous steps and documentation. The process can be particularly cumbersome for first-time applicants and in the absence of subject matter experts, this can result in a non-competitive application. Subject matter experts can understand the process and leverage their knowledge of the landscape to include documentation and details that have led to successful applications in the past. Moreover, an expert may also refine the project scope to better align it with the program. Knowing how to build a project that stands out from the competition can be critical in submitting a strong application.
All grant applications compete for a limited pool of funds. While it is tempting to attempt a grant themselves, businesses can vastly benefit from the skills and experience of experts who have developed an understanding of the landscape. Our team has a combined experience of over 10 years in the agri-grants field and uses an in-house database to track hundreds of programs in the United States and Canada. Contact us today to book a free 30-minute consultation session and benefit from our knowledge and expertise to help secure grant funding for your business.
