Author: Lisa Douglas-Paul
Grant Funding can provide a much-needed boost 💸 for businesses that are short on capital and trying to cover some real ground in the marathon 🏃♂️ that is business ownership. But like any typical investor, governments and organizations offering grants want to ensure that their investments, regardless of the size, have returns #ROI. 💰
Most Grant Funding applications have some basic requirements that applicants would need to satisfy in order to successfully qualify for funding. Although these requirements may vary from the donor agency to the type of grant fund, there are some basic elements that are consistently requested from applicants.
As in a marathon, if you want to go the distance and win big, you have to make sure you’re fit and in top shape. For businesses seeking grant funding, the same applies. If you’re considering applying for grant funding, consider some of the tips below for getting your business funding fit and ready.
Get your docs in order – Grant Donors look for proof that your business is #legit. Ensure that you have your business’ incorporation and registration documents as these are usually reviewed by agencies to validate the legitimacy of your business.
Financial Records – Most donor agencies look for at least 1-2 years of audited financials. At the very least, be sure to keep receipts and financial records of payments both received and made by your business from as early as possible.
Planning is Everything – Business Plans and Export Plans show donors how their investment can generate returns in the medium to long-term and give them a greater sense of confidence. Focus on keeping record of your plans for your business’ growth trajectory in the short, medium and long terms in a comprehensive document.
Whether you are looking for some much-needed financial stimulus to boost your facility’s production for export or trying to upskill your human resources to meet increasing market demands, there are a host of grant opportunities that you can access to help you get there. But before you go out and download those application forms, ask yourself: are you funding fit and grant ready?
Be sure to subscribe to our newsletter and check back to learn more about how to get your business funding fit and grant ready so you can take advantage of great opportunities for your business’ growth.
Business Content + Caribbean Spice. Mix up Nice!