Is this grant right for you, now?

Applying for a grant can be an exciting opportunity for your business or organisation.

It’s important though, to make sure that the grant you're looking at is the right fit for you.

Based on our experience, here are some key considerations to help you determine if a grant is worth pursuing.

1.     Are You in the Right Place to Get the Grant?

Location matters. Some grants are specifically designed for certain areas like the Northern Territory, rural, or remote communities. Check the geographical requirements carefully.

Often, the devil is in the detail, and being in the right place can make or break your eligibility.

If you are unsure, make enquiries with the grant provider so that you don’t waste time on something you aren’t eligible for.

2.     Are You the Right Type of Organisation ?

Grants often come with specific requirements regarding the type of organisation that can apply. For example, some grants are only available to non-profits, while others are aimed at businesses and for profit organisations. If the rest of the grant criteria are a perfect match, there might be ways to make it work, such as partnering with an eligible organisation under an auspicing arrangement.

• What is an Auspicing arrangement?

  An auspice arrangement is when a larger organisation assists a smaller organisation to fund a grant activity or event. The larger organisation is known as the auspice organisation.

3.     Can You Get the Proposal Together in Time?

Time is of the essence.

Preparing a grant proposal can be time-consuming and often requires a well-structured business plan, project plan, business case, financials, quotes (sometimes up to 3 for each item) and letters of support, among other things.

Make sure you can gather all necessary documents and meet the deadline.

Rushing through the process can lead to mistakes and omissions that could jeopardise your application.

We recently posted on our LinkedIn about an oversight on a grant application template that could have been really tricky if we were helping the client at the last minute instead of days ahead. Beware of unexpected surprises and allow your self enough time to deal with them. Read about it here.

4.     Do You Have the Right Expertise?

Expertise and/or experience is crucial. Evaluate whether your organisation and/or team has the necessary skills and experience to deliver on the grant's requirements.

If not, consider how you might bring the right people into your tent.

Collaborating with experts can strengthen your application and increase your chances of success.

• Some key skills you may need for your grant:

  1. Understanding of regulations and compliance: Some knowledge of regulations, compliance requirements, and legal frameworks relevant to the activity you are undertaking or grant management.

  2. Financial Management: Proficiency in budgeting, financial reporting, and accounting to ensure proper allocation, tracking and reporting of grant funds.

     3. Project Management: Strong project management skills to plan, execute, and monitor grant-funded projects, ensuring they meet objectives and timelines.

     4. Communication and reporting: Excellent written and verbal communication skills for preparing grant applications, progress or acquittal reports, and communicating with stakeholders.

     5. Analytical Skills: Ability to analyse data, evaluate program outcomes, and make data-driven decisions to improve grant performance.

     6. Stakeholder Management: Effective stakeholder engagement and relationship-building skills to collaborate with government agencies, partners, and community organisations.

5.     Can You Do What the Grant Needs You to Do?

Grants are not free money.

While they provide financial support, you need to deliver on your promises.

Assess whether you can fulfil the grant's objectives and whether you have the capacity to meet reporting requirements.

Being realistic about your capabilities is essential to avoid potential pitfalls and ensure you can meet the grant and granting body's expectations.

Think about the idea that grants are offered to stimulate economic, social, environmental or other activity or to deliver services to a certain group - is your proposal meeting this requirement?

6.     Do /can you meet all the other little criteria?

Grants often come with a list of smaller, detailed criteria. These might include ability to meet specific experience, standards, financial or reporting requirements, or other criteria.

Make sure you carefully review and meet all these criteria before applying. Missing out on a small detail could mean the difference between success and rejection.

Applying for a grant can be a valuable opportunity, but it's essential to ensure that it's the right fit for your organisation.

By considering the 6 factors above and doing your homework, you'll be better prepared to submit a strong application and increase your chances of securing the funding you need.

For more help or information about applying for grants, book a meeting with us, or if you need help with writing your grant application, book a fact find/needs assessment meeting here.