Getting Started with the Grant Process

There are three main steps that you will have to follow if you are hoping for successful grant seeking. First, you must be able to properly identify potential grant makers who would be interested in supporting your business project. You should use the many different websites to there to hunt down the perfect grant for you. If you need additional reference materials, you may wish to consult other publications in the Grants information database or contact the nearest Foundation Center Library near you for help, which will contain reference books on private foundations in your region as well as basic information on government and corporate grants. Of course you can also call the Foundation Center at 1-800-424-9836 for the location of the collection closest to you.

Second of all, after you have found and located your list of potential prospects, you should contact all of the key people who can help you plan your proposal before you start writing it in the first place. What this really means is that you must do your homework if you are going to be successful. A sure way to fail in grant seeking is to write a proposal without talking to the right people who can maximize your potential for success.

Now, after you have qualified your prospects and planned an effective approach, you must produce a carefully written, very well thought out proposal. Some grant proposals are rejected because they contain bad ideas; however the most common reason why grant proposals are rejected because they contain good ideas that are very badly written. There are basically two types of grant proposals which are:  long proposals that you write to government agencies, and shorter letter proposals that are generally given to private sponsors. Know who you are talking to and what they expect.

Make a special effort to check out the website of the place that you plan to apply to just to be sure that all of the facts that you have about the process is concise and correct. Your business plan and your proposal is the key point in getting the right funding for your business. You will also do well to build a great marketing strategy, and financial forecast estimate. The more information that you provide the more prepared they will think you are and the higher your chances are for success.

Some of the businesses that are eligible for a grant are: non-profits, self help business groups, anything to do with the arts like publishers or galleries, magazines etc. and businesses that are hoping to be the sole provider in a specific locale. You can also get business start up money if you are able to give an outstanding proposal. Sometimes the government grants will be given to people with a great proposal even if they are not necessarily regulated under the arts or beneficial to the community at large. If this is what you are working with, then you are as good as in.