Many small business owners have long thought of trying to apply for a grant, but the grant writing process seems complicated to them. It is vital to read each grantee’s requirements very carefully for exactly what information you need to include in your proposal. Generally, each grant needs seven basic components. Understanding those components allows small businesses to develop the contents for a successful grant.
1. The Project Summary
The project summary is often written best after you have completed the other parts of your grant. This section should include a statement showing where you have been and where you hope to go in the future. It should include a short biography of key team members showing that they have the experience necessary to be successful.
2. Assessment of Needs
The assessment of needs should show the reader that your small business grants Ontario will help solve client’s problems. It should include the purpose of requesting the grant n very specific language Usually this is best accomplished by breaking the problem into different objectives and showing how your company will solve each of those objectives. While you are writing the objectives be sure to show how the grantee’s money will be spent. These objectives should be specific, measurable, allocable, reasonable and time sensitive.
3. Description of Proposed Project
The description of your proposed project should link the objectives to the methods that you want to employ to achieve them. This is your chance to tell the grantee what you want to do with their help. It should explain the time guidelines for your objectives so that the grantee understands that you know how to set high obtainable goals. You should also include any limitations to your business such as things it will not do because that area is already covered by another business in the area. These objectives need to cover at least five years.
4. Methods and Design
Up until this point in time, your grants for small businesses proposal has focused mainly on proving that there is a problem that needs solving. Now, is the time to shine in showing how you have the best ideas for solving that problem. Tell the grantee why your skills and background makes you the perfect candidate for successfully completing the project. Spell out the specifics of your current and projected budget. Include the method of how you will evaluate your project. Tell how you will let your customers know what you are accomplishing so that they will be drawn to your business.
5. Your Business Plan
You should then include your well-written business plan for the next five years.
Conclude your proposal with a detailed budget that shows where the current money is coming from, why you need the grantee’s money and how you can grow after receiving that money.