Ways to Become Grant Ready and Propel Your Business Growth Aspirations

Ways to Become Grant Ready and Propel Your Business Growth Aspirations

Author: Liz Fleming - The Grants Club

I’m the accidental accountant, a maths geek who didn’t even do Senior English at High School and is now successfully writing grant applications for businesses and organisations.

How did this happen? Well, I’m not entirely sure, but a combination of taking opportunities, following my passion and helping people has lead me to where I am now – writing grants for funding.

We all have things in our business that we don’t like doing, so we really need to create networks, have trusted advisors working with us and employ skilled staff so that we can work in our zone of genius and be dedicated to our business in a way that is fulfilling and enjoyable.

After all, this is normally why we take the plunge of starting our own business … and that’s what business and grants are all about… taking opportunities. Here I share with you my top tips to be in the best position to take advantage of funding opportunities that will propel your growth aspirations. I know it’s nobody’s favourite, but grants can be such a bonus to fast-track your growth. 

Liz’s Top 5 Tips to Become Grants Ready

1. Develop a Wish List

This is essentially your growth plan. Know what you want to spend funds on within your organisation. Think about things that will improve efficiencies, development, impact, innovation, and project costs that will fast-track your growth. Brainstorm your ideas and then see Tip #2.

2. Plan Out Your Projects and Ideas

Build relationships with local suppliers, collaborators, and other stakeholders who could assist with your projects. Seek out quotes to start planning these projects, especially the budget. Knowing the ballpark figure for each of your growth plan projects will help you quickly determine if a grant is suitable when it becomes available.

3. Keep Financial Records Up to Date

Ensure your financial records are up to date in your finance system (Xero, QuickBooks, etc.) and your annual income tax returns. In Australia, most grants over $50k require the last three Financial Years’ Statements to be submitted with your application. Speak with your accountant to ensure everything is in order. Up-to-date financial records will also help you determine if you can fund a project yourself or if you have sufficient funds for any matching funds required.

4. Know Where to Search for Grants

Government grants are available at Federal, State, and Local levels. Sign up for relevant newsletters to be the first to learn about new grants. Each State has business and community departments that regularly release grants. Contact your local council to make yourself known to them. Additionally, consider signing up for a grants directory, such as The Grants Hub.

5. Document Your Basic Business Information

Prepare and have your basic business information readily available. While each grant program is different, some standard information is commonly required:

• ABN/ACN Number
• Entity Type
• Business Name/Trading Name
• Contact Information (Key Persons, Address, Phone, Email)
• Employee Numbers
• Turnover Figures
• Financial Statements
• Industry.

Summary

These 5 tips should assist you in your quest to become grants ready and to learn more about how grants can help you and your organisation.

It is my aim that if you’re eligible to apply for grant, you have the resources and skills to be able to apply. If you don’t apply, it’s an automatic no, as nobody is going to tap us on the shoulder asking us to apply or to give us free money.

There are a range of resources on my website to help you on your grant readiness journey toward securing funds for your organisation.

Liz Fleming

Liz Fleming

Liz is a Grants Coach, Grants Writer and Chartered Accountant. She works with founders and key decision-makers of businesses, not-for-profits and organisations who are ready to invest in their growth through grants and funding, by taking a strategic approach to growth and creating opportunities.

Grant writing is a real skill that Liz has honed with 85% success for grants and 100% of her grants have been submitted on time, working online with clients across Australia.

She’s a Kiwi living in Roma in Outback Queensland with her family. She’s spent the majority of her life living in rural and regional areas, and is truly passionate about helping business owners succeed.