Many governments want to incentivize their citizens by offering grants to them to fix any existing financial challenges. Hence, you need to know how to mold your business in a way that makes you eligible for these federal grants. This is because applying for it is easier than winning the grant. These grants also are awarded to local and state governments, researchers, organizations, law enforcement, and others with major projects that will be a benefit to the community or parts of the population. Also, you can apply as an individual, a non-profit organization, or if you already have a small business to help you build and grow it. Below are 5 tips to keep in mind when applying for a government grant.
- Ensure you are eligible
You must ensure you are eligible for the grants before you apply. Since, why apply for a grant when you are not sure you are eligible for it. Therefore, to talk about the eligibility, go through the instructions of the grant closely to understand what it requires. The grant that you are interested in will require eligible applicants. As an example, if it states eligible applicants are hospitals, higher education, individuals, non-profits, state, and local. If you do not fit any of these categories, you are not eligible, and applying will be a waste of time.
- Have clear and measurable objectives
Communicate clearly and have measurable objectives for your grant. This is important since you are competing among many other applicants of the same. Hence, create a list that has your key performance indicators as you hand over your application. This should state clearly, how you measure your objectives and remember to include how success and failure look like in your grant application. In this way, the government evaluators will see that you took time and thought deeply about the proposal you created.
- Present a clear plan on how you intend to spend the money
When applying for these government grants, it is vital to spell out how you plan to spend the money the government offers you. This is vital as governments do not intend to waste any money. Plus, it has specific aims that it should meet with every grant that it offers. Thus, ensure that the plan you present is clear on how you will spend the money. For instance, it is not wrong or illegal to pay your employees’ salaries with money you won from grants. Therefore, spelling out in your application that you will use $1-$2 million for employee salaries is a wrong move as it will make you lose the grant.
- Communicate why your application is the best
If you are seeking a grant for your business, the government aims to help you build and grow your business. So articulating why your application is the best for the position on offer is one way to mold your business to fit the grant you are eligible for. This is vital as the competition for that specific grant is stiff. Hence, you should go above and beyond to effectively show why you and your team will give the best to what the government’s goals will be. Importantly, stick to the government stated goals, even when they are different from your company or personal goals.
- Be aware of specific locations that the government wants the grants to be
Although various states may have specific requirements, it is vital to read and understand the specific guidelines of the location the government wants the grants. Because of this, ensure that you have a real presence in the location where the work for the government grant will be taking place. For instance, some grants will need applicants from places like Arkansas, Mississippi, specifically, among others. Thus, if you are not in any of these places, there is no need to go ahead and apply for the grant.
To sum up, the process of applying for grants may be tedious, but the government has a lot of money that it intends to spend. So, it is best to prepare carefully for your applications, take your time, and win a government grant.