how to write a business plan for a small business grant

Grant Writing for Small Business: A Step-by-Step Success Guide

• Post author By awesome
• Post date September 5, 2023

Grant writing for small businesses involves identifying relevant funding opportunities and crafting compelling proposals that demonstrate the business’s need, viability, and potential impact.

Successful grant applications require a clear understanding of the business’s goals, a well-researched and persuasive narrative, detailed budgets and timelines, and strict adherence to the grant provider’s guidelines and submission requirements.

Understanding Grant Proposals

Proposal components.

Grant proposals are crucial for securing funding. They must include a cover letter, an executive summary, project description, game plan, eligibility requirements, specific programs, and budget. Each component, including specific programs, specific business, team, and technical assistance, serves a unique purpose in making a strong case for support.

The executive summary introduces the business and its goals. The project description outlines how objectives will be achieved. The budget details financial needs and allocations. Tailoring these elements to meet specific funder guidelines, including eligibility for grant funding and formula grants, is essential for success in the grant writing process.

Key Elements

Cover letter.

A personalized cover letter is your first impression. It should introduce your business and outline the grant amount requested, specifying if it’s for formula grants or local grants, and the project’s impact, serving as a game plan for applicants. Keep it concise and aligned with the funder’s mission to make a strong initial connection, following instructions for grant funding support during the grant writing process.

Executive Summary

The executive summary summarizes your proposal’s main points, including objectives, methods, and expected outcomes, vital in the grant writing process for following instructions and securing grant funding. It should be compelling to encourage further reading. Clarity, brevity, and effective use of resources such as information and instructions are key in the writing process of presenting your business case effectively.

Types Explained

Federal grants.

Federal grants, offering resources and information, award significant opportunities for small businesses in need, especially in research and development. Navigating federal grant applications requires understanding of compliance requirements. Use federal databases and their website information to find suitable grants, get help, and ensure alignment with your business goals by following the provided instructions.

Corporate Grants

Corporate grants award funding opportunities for small businesses and startups, with instructions and information available on their website. Understand corporate grantmakers’ goals and align your proposal accordingly. Networking and building relationships with small business corporations can open doors to valuable funding sources , help with grant writing, and award opportunities.

Preparing Your Proposal

Research first.

Before diving into writing, thorough research is crucial . It ensures your proposal aligns with the funder’s mission. Look into past award winners and review their grant funding proposals for valuable insights and information, following the provided instructions. This can help give you a clear idea of what information you need to succeed in grant funding.

Check the eligibility criteria and grant objectives meticulously. Every grant has specific requirements. Meeting these increases your chances of success.

Team Collaboration

Involving a diverse team in the grant writing process brings numerous benefits, including help for small businesses that need information. Different skills contribute to a stronger proposal. Assign roles based on expertise, such as financial planning or project management, to help use information on grant funding.

Hold regular meetings to discuss progress. This ensures everyone stays aligned with the proposal’s objectives. Collaboration fosters creativity and innovation, essential for a standout proposal that can help secure grant funding for a small business with the right information.

Writing Process

Needs statements.

Crafting a compelling needs statement is vital. It should outline the problem clearly, the need for help, and how the grant will address it by using the information. Use data and research to back up your claims.

Link this need directly to the funder’s priorities for a stronger connection, emphasizing how grant funding can help meet this need with information beneficial to small businesses. This shows you understand what they value and how your project aligns with their goals, demonstrating the need for grant funding and how this information can help.

Project Description

Detailing your project’s objectives, methodology, timeline, and personnel involved is next, which will help provide the information small businesses need. Demonstrate its feasibility and potential for success clearly. Funders want to invest in projects that show promise.

Highlight how the project aligns with the funder’s goals. This reinforces your understanding of their mission and how your project contributes to it, by providing information, help, grant, and the need.

Budgeting Strategies

Detailed budget.

A clear and justified budget is crucial in grant writing to help small businesses in need of information. It should outline all project costs and funding sources. Accuracy is key. Make sure your budget aligns with the funder’s guidelines. This shows you understand their requirements.

A budget narrative is equally important. It explains why each cost item is necessary. This transparency builds trust with funders. They see where their money goes.

Financial Planning

After crafting your proposal, focus on the project’s future. A solid financial plan demonstrates sustainability post-grant. It reassures funders that their grant investment has a lasting impact, providing the information and help they need.

Include a plan for future funding or revenue generation . This shows you’re thinking ahead. Detail your financial management practices too. Funders need to know you’ll spend responsibly.

Submission Guidelines

Final review.

A thorough final review of your small business grant proposal is crucial if you need help. It ensures the proposal’s coherence, completeness, and compliance with the submission guidelines, helping small businesses in need to secure grant funding. This step should never be overlooked. It ties directly to the budgeting strategies outlined previously, as any discrepancies between the budget and project description can lead to rejection, especially when the need for a grant to help a small business is involved.

Seeking external feedback is highly beneficial. Reach out to peers or mentors who have experience in grant writing to help your small business if you need it. Their insights can provide invaluable perspectives and help that you might have missed, especially for small businesses seeking to grant opportunities. They can help spot weaknesses in your argument or suggest improvements that make your small business grant proposal more compelling.

Proofreading is another essential step in the final review process. Look for grammatical errors and ensure your ideas are clear and concise. A well-written grant proposal not only communicates professionalism but also makes it easier for reviewers to understand your objectives and how you plan to achieve them, thereby offering help to small business.

Tracking Applications

Once your small business grant proposal is submitted, setting up a system to help track its progress is vital. This helps manage multiple applications efficiently for small business grants, ensuring you meet all deadlines and follow up appropriately.

Maintain detailed records of all grant submissions and correspondence with funders to help small business. This includes dates of submission for grant help, responses received for small business assistance, additional documents requested, and any other relevant interactions. Such records are invaluable for tracking your small business grant application’s status and preparing for future communications with the funder, which can help.

Analyzing unsuccessful small business grant applications offers a golden opportunity for learning and improvement, which can help. Identify areas where your business proposal may have fallen short by comparing it against the eligibility criteria and instructions provided by the grant funders to help you. Use these insights to strengthen future applications.

Enhancing Writing Skills

Strategic game plan.

Developing a long-term strategy for grant seeking is crucial to help your business. It involves targeting specific grant opportunities that align with your business’s needs and planning your submissions well in advance. This approach ensures you’re not just throwing darts in the dark but aiming with precision in your business grant strategy.

Setting realistic goals and timelines for each business grant application can significantly increase your chances of success. It’s important to allocate enough time for research, writing, and revision stages in the business grant process. Rushed applications are rarely successful.

Continuously refining your strategy based on outcomes and feedback is key. If an application is unsuccessful, learn from it. Adjust your approach accordingly for future submissions.

Using Rich Media

Incorporating images, videos, or infographics can make your business grant proposal stand out. These elements should not be added just for the sake of visual appeal but must be directly relevant to the business grant proposal. They should enhance the narrative and help explain complex ideas more simply.

Ensure any media used is professional and high-quality. Poorly presented visuals can harm credibility more than help it. Visuals must complement the written content in a business grant application, providing a cohesive and compelling application.

Research Winners

Studying successful grant proposals offers invaluable insights. It allows you to see what worked for others in the business and grant sectors and how you can adapt those strategies to fit your proposal. Look for patterns or common elements among business grant winners that could be applied to your own strategy.

Reaching out to past grant winners for business tips and advice can also be beneficial. They may offer practical suggestions or highlight pitfalls to avoid in business or grant applications based on their personal experiences.

Analyzing winning strategies isn’t about copying them verbatim but understanding why they were effective. Adapt these strategies to suit your unique business proposition and grant objectives.

Applying Strategically

Local grants first.

Starting with local grant opportunities for your business can be a wise move. These grants often come with less competition and are more accessible to small businesses. By focusing on these business grant opportunities, you increase your chances of success.

It’s beneficial to build relationships with local grantmakers. Understanding their business goals for community impact can give you an edge in grant applications. They look for business projects that align with their vision, making your grant application stand out.

Leverage your local networks and resources for support. Many communities have organizations dedicated to helping small businesses thrive, often through grant assistance. They can offer invaluable business advice and assistance throughout the grant application process.

Grants of All Sizes

Applying for business grants of various sizes is crucial in diversifying your funding sources. It’s a business strategy that balances risk and opportunity, ensuring a steady flow of resources and grant opportunities.

Small grants should not be overlooked. Despite their size, business grants can add up and often come with less competition. They might also require less comprehensive business grant applications, saving you time and effort.

Balancing efforts between large and small grant applications is key. Consider the potential return on investment (ROI) for each business grant opportunity. This approach ensures that you’re not putting all your eggs in one basket but rather spreading your efforts wisely in business and grant applications.

After Submission

Common mistakes.

After submitting a grant proposal, many small businesses wait anxiously for a response. However, this period can be used to reflect on the business grant application process and identify any potential errors that could have been made. Common mistakes in business grant applications include missing deadlines , which immediately disqualifies the proposal. It’s crucial to double-check all business grant submission dates in future applications.

Another pitfall in the grant application process for businesses is failing to follow the funder’s instructions or submitting incomplete applications. These oversights can lead to an automatic rejection. Businesses should ensure every question is answered and every required document, including grant applications, is included before submission.

Using overly technical language can also be detrimental. It might obscure the grant proposal’s objectives, making it hard for reviewers to understand the project’s value. Instead, aim for clarity and simplicity in describing your grant project’s goals and how they align with the funder’s priorities.

Lastly, not tailoring the grant proposal to directly address the funder’s criteria is a missed opportunity. Reviewers look for grant proposals that closely match their interests and objectives. Therefore, understanding and reflecting these grant priorities in your application is key.

Requirements Post-Grant

Understanding post-grant requirements is as important as securing the grant itself. Small businesses must prepare for reporting and audits that come with most grants. They should familiarize themselves with these grant requirements early on to ensure compliance throughout the project duration.

Maintaining good communication with the funder cannot be overstated. It builds trust and may pave the way for future grant funding opportunities. Regular updates on project progress demonstrate your commitment and responsibility towards the grant-funded project.

Setting up internal processes for monitoring and reporting on grant project progress is essential. This includes establishing clear roles within your team for who will handle reporting duties and how data on project outcomes will be collected, analyzed, and grant-related information managed. Such measures ensure you meet all post-grant requirements efficiently.

Additional Resources

Finding grants, federal databases.

Federal databases, such as Grants.gov, are treasure troves for finding government grant opportunities. They offer a comprehensive list of available grants across various sectors. Small businesses should dive deep into these resources . Familiarizing oneself with the search features is crucial. It helps in narrowing down the vast options to those most relevant.

The application processes on these platforms can be intricate. Hence, it’s advisable to understand them well ahead of time. Regular checks for updates and new grant announcements are essential. This ensures businesses don’t miss out on timely opportunities.

Corporate Databases

Corporate grant databases and websites are equally valuable for finding private funding opportunities. Many companies run corporate social responsibility (CSR) initiatives that include grants for small businesses. Researching these can open up new avenues for support.

Creating alerts or subscribing to newsletters from these entities can keep you informed about new grant opportunities as soon as they arise. This proactive approach can give businesses an edge in the competitive grant application process.

Grant Proposal Templates

Using templates can significantly ease the process of structuring grant proposals. They serve as a solid starting point for a grant, ensuring all fundamental aspects of a proposal are covered. However, customization is key. Each grant funder has specific requirements and guidelines that your proposal needs to meet.

It’s beneficial to review multiple grant templates to find the one that best suits your proposal’s needs. This not only saves time but also increases the chances of your grant proposal standing out.

Final Remarks

Navigating the world of grant writing for your small business can seem daunting, but armed with the right knowledge on proposal understanding, budgeting strategies, and submission guidelines, you’re set for success. Remember, enhancing your writing skills and applying strategically for grants are key steps. Don’t let the grant process after submission deter you; use it as a learning curve. The resources provided are there to guide you further.

Taking this journey can significantly impact your business’s growth, sustainability, and grant opportunities. It’s all about making smart moves, leveraging available opportunities, and utilizing grants. So, dive in, apply what you’ve learned, and remember—the effort you put in now can lead to substantial rewards down the line. Ready to make your mark? Start crafting that winning proposal today!

Frequently Asked Questions

How do i start writing a grant proposal for my small business.

Begin by understanding the grant requirements thoroughly. Then, outline your project’s goals, objectives, and how it aligns with the grantor’s mission. This initial step is crucial for a successful proposal.

What are key elements to include in my grant proposal?

Your grant proposal should clearly articulate your project description, objectives, target population, budget details, and the impact it will have. Transparency and specificity are key to standing out.

How can I create an effective budget for my grant proposal?

Start by itemizing all project costs realistically and justify each expense for the grant. Ensure your budget aligns with the project’s goals and the grant funder’s guidelines. Clarity and accuracy in this section are vital.

What are some tips for submitting a grant proposal?

Carefully follow the grant submission guidelines provided by the funding agency. Double-check your grant proposal for completeness and compliance with all requirements before submitting it on time.

How can I improve my grant writing skills?

Practice regularly, seek feedback from experienced grant writers, and consider attending workshops or courses on grant writing. Reading successful grant proposals can also provide valuable insights.

Is there a strategic approach to applying for grants?

Yes, research extensively to find grants that closely match your business needs and goals. Tailor each grant application to reflect how your project aligns with the funder’s priorities. Applying selectively but thoughtfully increases your chances of success.

What should I do after submitting a grant proposal?

Follow up with the grant funding agency if they allow it, but be patient as grant review processes can take time. Use this period to gather additional data or refine project plans that could strengthen future proposals.

• Tags Financial and Operational Management , Specialized Industry Strategies

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A Guide to Writing a Small Business Grant Proposal

Last Updated on 

January 19, 2023

While there may be more opportunities for non-profit organizations when it comes to grant funding, grants for small business owners are not rare.

In fact, small businesses received more than $334 billion in total award obligations through the SBA in 2021 , spread across more than 9 million transactions and 7 million new awards. Over $254 million was spent through grants alone. The amount spent on grant awards has risen in 2022 as well, increasing to more than $455 million.

Federal contracts and financial assistance are out there. And that is without mentioning small business research grants and other types of non-governmental contracts and awards.

Grants for small businesses can often be a better option than a loan, as grants do not require repayment of any kind. The caveat? Your goals need to align with the goals of the organization or awarding agency you’re seeking a grant from.

Many grants are dedicated to supporting non-profit work or specific research initiatives. However, small business grants are dedicated to helping owners and founders achieve specific business goals or projects that align with a funding agency’s mission or a particular initiative.

This includes research grants designed to support businesses working on research and development that has a high potential for commercialization. As a biotech founder, CEO, or employee, this is most likely the exact type of grant you’re looking for.

Like non-profit grants, small business grants are offered through both government and non-government agencies. Furthermore, unlike loans, grants do not need to be paid back.

In this article, we’ll review small business grants, grant proposals, and how to write small business grant proposals. We’ll also review some best practices for grant writing, the differences between a “good” and “bad” proposal, the various types of grants available, and additional resources to help you write a small business grant.

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What Is a Small Business Grant Proposal?

A small business grant proposal, like a typical grant proposal, is a clear and concise presentation of what you’re proposing to do before it actually happens. It usually takes the form of a written document that you either prepare online or physically.

You send your proposal to a particular funding agency that’s providing a grant opportunity you’re interested in.

The presentation should thoroughly explain the reasons for your proposal and why you’re applying for grant funding from a specific funder. Explain the who, what, when, where, how, and why of your proposed project or program.

When you clearly and concisely explain your proposal in an organized and well-thought manner, you will have a better chance at receiving approval from the grant reviewers.

What Are the Steps to Developing a Grant Proposal?

There are several steps you should take to develop an effective proposal. First, begin with an idea, followed by planning, strategy, and success.

What is the idea you’re hoping to make a reality? It’s ideally something you’re already working on and are seeking additional funding to help continue developing, but it can also be something you’re planning on starting and need funding to begin that journey.

Once you know what you’re trying to accomplish, you need to start planning. Flesh out the details of what your program, project, or initiative is all about that you’re seeking funding for.

After planning, you’ll need to start forming a strategy. This involves detailing your approach and methodology regarding bringing your program or project to life. How will you effectively put your plan into action?

With a strategy in place for success, you’ll be able to show the funder how you will accomplish what you’re setting out to do and how you will evaluate your accomplishments, giving the funder confidence in you by showing them you’ve got a game plan.

From here, you will want to take some additional steps before you start researching grant and developing your proposal:

• Make sure your idea can be funded, as some things are not eligible for grant funding
• Read the grant application guidelines carefully, they will help you determine if you actually qualify or not
• Make note of the eligibility requirements and what the funder is requesting; you might not be eligible or have everything they’re asking for

Lastly, ask yourself:

• Is my proposal doable?
• Does it have a focused goal?
• Can you provide everything a funder is asking for in the application? (If you can’t, you’re putting yourself in a position to become disqualified, wasting time and effort)
• Is it in alignment with your own goals and, most importantly, with the goals of the potential funding agency?
• Is there a beginning, middle, and end? (Granting agencies do not fund projects forever; in fact, most grants only last a year or two, depending on who’s providing the grant)
• Can you meet the deadline? (Grants have deadlines; if you start too late, you’ll have to rush and that can lead to mistakes and disqualification)

Grant Proposal Review & Common Elements

Grant proposal guidelines and instructions vary from funder to funder. This means the required information and formatting may be different from proposal to proposal. To better understand the common elements, it can help to review grant proposal guidelines and instructions to get a sense of what will be asked of you.

In the guidelines that you can typically find on the funding agency’s website, you’ll see exactly what you need to do in order to apply for a grant. While following these guidelines and instructions does not guarantee you’ll get funding, it does increase the likelihood of getting approved.

If the guidelines provide a list of do’s and don’ts, take note. Funding agencies will have various requests for you that include things they’d like to see in your application and things they wouldn’t like to see.

There may also be a checklist for completed requirements. If that’s the case, you can use the checklist to track your progress and make sure you don’t miss anything. Budget your time to make sure you’ve got enough time to get everything together that is required of you before the deadline. You don’t want to rush. It can lead to mistakes, which will automatically disqualify you in most cases.

Similarly, if you don’t complete and submit the proposal by the listed due date, your application will automatically be denied. We can’t stress this enough—give yourself enough time!

You’ll also see in the guidelines that a grant proposal must include information submitted in a specific order. Make sure to do this, and follow the instructions for each section exactly. Funders will most likely reject your application if your proposal is not in the correct order.

There are additional requirements for proposals that can include submitting the proposal to a specific address or department, rules about how you can submit the application, and reporting leadership or major staffing changes after you’ve submitted your proposal.

Do your diligence and read the guidelines and instructions carefully. Grant proposal reviews can be the best way to learn what to expect. That said, there are some elements, or sections of information, seen across many different types of grant proposals. These can include:

• A cover sheet or letter of intent that allows the agency to estimate how many independent reviewers will be needed; it also helps the agency avoid potential conflicts of interest in the review
• A short executive summary, or “abstract” in the non-profit world, summarizing your grant proposal
• A table of contents; it should help the reviewer find what they need quickly and easily should they want to flip to a specific section
• A needs statement and problem statement describing the purpose of your project, the need you’re addressing, or problem you’re solving, and why the project is important
• A project description or narrative explaining the project you want to fund in greater detail; you can separate different ideas into sections to better explain each aspect of your project and review the expected outcomes; this description can sometimes be included in the executive summary
• A list of your goals; ideally you will pick SMART (Specific, Measurable, Attainable, Realistic, Timeline) goals
• A description of the methods you will use, in addition to project management plans and timeline, illustrating how you will achieve your goals and objectives
• A staffing list showing how you will staff your project
• A detailed budget explaining what the money will be used for
• A cover letter providing an introduction of yourself or your business as the grant seeker, in addition to a description of your ethos, professionalism, and proposed project or business goal

You will most likely need to include information about yourself and your business as well, including:

• Your business’s mission and history
• Your business’s financial health and stability
• Any additional support documents, usually in the form of appendices; additional records, endorsements, tax status information, personnel bios, letters of support, etc.

Including this information is not only important, it’s necessary. Without it, your application will be disqualified.

Remember, this isn’t the exact order for every grant proposal. Proposals vary from funder to funder, and each may ask for a different order that the information above should be included. It’s vital that you follow the grant’s instructions exactly and include everything that’s asked for.

Before You Start, Research

Before you start writing your grant proposal, you’ll want to research the grant or grants you are applying for and the organization to whom you are submitting your proposal. This is part of the pre-award phase, covered in more detail on grants.gov .

Also consider who your audience is, what the grant’s expectations are, and how you will achieve your goals if you secure funding. To properly prepare for your application, it’s important that you:

• Follow the steps for developing a grant proposal listed above; this means clearly defining what you want to do, why you want to do it, how you’ll do it, when you’ll do it, and who you’ll do it for—remember to be SMART when defining your goals (Specific, Measurable, Achievable, Relevant, and Time-bound.)
• Identify an awarding agency or organization that funds projects or goals like the one you have in mind and figure out if their goals align with your own.
• Identify a grant funding opportunity before you begin the application process; it’s important that you find a grant that matches your proposal and goals and a funder whose mission aligns with yours.
• Review the agency’s grant proposal guidelines, eligibility requirements, and instructions document to determine if you are eligible and have everything on hand that they’ll require.
• Register to apply for grants through websites like grants.gov and sbir.gov ; depending on the agency, you will have to go through several steps to register and may be required to complete different types of registration to receive all the necessary identification.
• Review any grant proposal samples you might have or can find in order to get a better understanding of what a good or bad proposal looks like.

Research will help you identify a grant you can actually apply for, an agency that will want to work with you, and a better feel of what the funder’s interests actually are. This will vary from funder to funder, but doing your research will help greatly.

How to Write a Small Business Grant Proposal

The grant writing process can be quite arduous. But, there are a variety of ways to approach it. The best way you can handle the writing process, in our experience, is to begin with great research, followed by developing an effective proposal that carefully follows all the instructions and guidelines a funding agency provides, including everything they ask for. It’s all about giving the information that is required, not pushing the information that you want.

After taking all the necessary steps, such as registering your business in the proper places, identifying a grant funding opportunity, and determining your eligibility, you’ll begin preparing your written application and developing your proposal.

Below we break down the basic approach to writing a small business grant proposal based on our own experience as a small business.

Keep in mind that this is a guide for you to learn how to write a proposal. We outline a general approach of how to write a small business grant proposal. It will help you be well-prepared to begin the writing process, but does not necessarily follow exactly how a funder will want you to put together your proposal. Remember to follow instructions carefully!

Be meticulous in your following of the proposal’s instructions. This means including all the necessary documentation, completing the required forms, and staying on top of deadlines.

Write Your Cover Letter

You can start by writing your cover letter. However, it may help to leave this till the end of your application, as you might have a clearer idea of the main parts of your proposal and their value.

That said, if you do start with your cover letter, make sure to keep it short but impactful—you need to capture the attention of the agency’s reviewers.

Say what you need without using too much fluff, being as direct as possible without missing the important parts. And make sure to connect your project and goals with the funding agency’s own. If you can make a connection between their mission, funds, and your proposed project, you will have a better chance of getting approval.

Write Your Executive Summary

Next, write your executive summary. This serves as an overview of why your organization wants the grant, what your funding needs are, and how you plan to follow through with the project. Be as engaging as possible, using short and clear sentences that concisely illustrate the main aspects of your proposal.

Introduce Your Business

You can introduce your business next. Share as much relevant information as you can about your infrastructure, history, mission, experience, etc.

Here you include a biography of key staff, your business track record (success stories), company goals, and philosophy; essentially, highlight your expertise.

Client recommendations, letters of thanks, feedback from customers and the general public are must-have things to write in a grant proposal.

Also include all valid industry certifications (ISO or Quality Certifications), licenses, and business and indemnity insurance details.

You need to show that your company or organization has the capacity and the ability to meet all deliverables from both an execution perspective but also meet all legal, safety, and quality obligations.

Write Your Needs & Problem Statements

Now, write your needs and problem statement. It should illustrate the problem you will solve and how the grant funds will help you do it. It will be important to convey the scope of the problem or need of addressing and what sets you apart from others trying to solve the same problem or need. It can be helpful to include any research you’ve done on this matter as well.

Don’t rush this section of the proposal. It’s a critical element. Craft your argument patiently, and make sure to use any supporting data and research you have to back up your argument and plan.

It’s important to keep the language simple as well, as there is a big chance the reviewer doesn’t have the same technical expertise you do. Keep jargon to a minimum, or fully explain what each term means, in order to keep things clear.

Write Your Project Description

Next, write your project description. Clearly explain your goals for the project, how you plan to achieve those goals, and how the grant funding will help. Stick to SMART objectives, ones that can be easily tracked and measured. Doing so will help you demonstrate your eventual successes to the grantor, an important part of the grant process later on.

When you explain how you plan to achieve your goals, it can help to include specific information about your project’s timeline, budget, staffing, the resources and community you’ll leverage, and why you’re in a strong position to tackle a problem or need. It can also help to explain how you will track your project and goals, evaluating your overall success.

Ideally, your project description provides a clear picture of your goals, how you will achieve those goals, what you plan to do with the funds, and how you will manage and measure your project’s progress. If you tie your goals into the funding agency’s mission or goal, you will build an even stronger case for your business.

Write a Detailed Budget

After that section, you will need to write about your budget. It’s critical that you provide a detailed project budget that outlines how you will use the funding and what your operational costs will be. This will also serve to explain your expenses and justify the amount of money you’re seeking.

Provide any financial documents you may have to back up your budget here, and try to stay within the funding limits the funding agency is offering. It’s important to neither overquote nor underquote yourself, because while you might secure the grant by underquoting, you may not walk away with enough funding for your project. Overquote and you may see your application rejected.

When we say provide a detailed budget, we mean it. Include information about all of the costs, whether they’re direct or indirect. This can include everything from personnel, materials and supplies, and equipment to travel costs, advertising, utilities, insurance, and more.

Remember to check your numbers. You want to ensure they’re accurate. Otherwise, your application might not make it through the review process. Simple errors like an incorrect decimal point or forgotten number can significantly distort your budget. If you need to, leverage a team member who is excellent with numbers.

Perform a Final Review & Have Your Team Help

After you’ve finished writing, attached all the necessary documentation, and completed the required forms, you need to review your application! Make sure you have:

• Followed all the instructions
• Stuck within the guidelines
• Included all the necessary documentation
• Completed the required forms
• Formatted your proposal correctly
• Eliminated simple spelling or math errors

It can help to have others review your application as well. They can bring a different perspective and fresh eyes to the proposal and catch things you may have missed. In fact, it can help to have as many people you trust review the proposal. When you’re confident there are no errors, it’s time to submit your proposal.

Properly Submit & Track Your Application

Depending on the funding agency you’re submitting your application to, there will be different instructions for submitting. Figuring out what these submission processes look like can sound a little daunting, but each group will provide clear instructions somewhere on their website on how to properly submit your proposal.

It will be important that, once you submit the application, you make sure to track it to address any errors that are flagged and view the assembled application to ensure it is 100% accurate.

Once you’ve submitted, you can check online that your application has all the correct information and hasn’t been flagged for errors. After making sure your proposal wasn’t flagged, all you can do is wait for a response from the funding agency.

If the review process goes well, you may be asked to provide additional information. The way this request is handled can vary from department to department. For example, the NIH uses the Just-in-Time (JIT) process, located in its eRA Commons .

If you’re selected to receive funding, you’ll be sent a notice that you have been selected for the award! In the case of the NIH and the SBIR/STTR programs, you’ll receive a Notice of Award (NoA) , the official grant award document the department uses to notify an awardee the grant has been made. From there, you will be able to access more information on how to manage the award, and what the post-award process and requirements entail.

In addition, you will gain access to a wide number of agency resources and programs, helping you maximize the benefits of your grant funding.

While the approval rating for grants has increased through 2022, grant funding is highly competitive, and there is a big chance your proposal will be rejected. Don’t give up! It’s important that you keep trying. If the review does not go well, you will be able to reach out to the program official to discuss next steps. You can review feedback, address the issues, and resubmit your application .

12 Tips for Writing A Successful Business Grant Proposal

Below are steps to writing award-winning grants that you can use to improve your proposal, potentially increasing your chances at writing a small business grant application that will get approved.

Develop a Game Plan

Create a game plan for where you’re headed. Don’t dive into effort without knowing exactly what you’re doing. You’re going to want some mode of operation to complete the grant writing process, and a game plan can help you do that. In fact, you’re already using a game plan right now: learning how to write grant proposals in an effective way.

Don’t Rush & Pay Attention to the Agency’s Goals

First and foremost, don’t rush your writing. Grant applications can be long and grueling, and it can be easy to make mistakes if you try to rush through the grant proposal writing process.

Hopefully you start early enough so that you can take your time writing before the deadline gets closer. Making mistakes can make it take even longer to complete your proposal, and will lead to a rejection.

Taking your time will undoubtedly make it easier to craft your story and proposal, leading to a more developed proposal narrative and project description before you start writing grant applications. Having a strong story and a detailed proposal will help you stand apart from other grant applicants, clearly explaining the what, why, and how of your proposal.

Use Rich Media When You Can

Use pictures, charts, and graphics if permitted. Using rich media can help your proposal come to life and convey important points in different ways. While this may be harder to do with certain applications, look for instances where you can add visuals.

Research Prior Winners

If there are previous grant winners for the specific grant you’re applying for, review their business and the project. There may be a connection or similarity between your business and a prior winner that you can integrate into your proposal.

Seeing what kinds of businesses are awarded a certain grant can help you narrow down if your business is a good fit, what you could do to increase your chances, and ultimately help you save time by not applying to a grant you’re unlikely to land.

Search Through Local Grants First

It might be easier to secure a local grant than a federal grant offered nationwide. While federal grants can be more appealing—the award is typically larger—local grants are sometimes less competitive. Start your search by looking at locally offered grants, and expand your search as you rule out grants you might be able to apply for through your city, the state and regional levels.

Apply for Grants of All Sizes

In addition to searching for local grants first, you should also pay attention to funding opportunities of all sizes. Smaller grants can sometimes be easier to secure, and doing so can even make your business more appealing to agencies offering larger grant funds. Showing the support you’ve already received can make you more attractive to grantors.

Use a Team Approach

It’s often helpful and more effective to assemble a team to write your proposal. Ideally you can include people who have review proposals before or someone who has experience as an editor. Your choices do not have to be limited to your business, you can find people outside your organization to help with the process.

Approach The Writing Process Like a Reviewer

It can help to think about your grant proposal like a peer reviewer, rather than a business owner. The funding agencies you’ll send your applications to always have long-term organizational goals and objectives that you will want to appeal to. If you can set your proposal apart from others by showing how your use of the grant funds will directly align with the funding agency’s mission, you may stand a better chance at securing approval.

Provide Up-To-Date Information & Complete All Requests

Provide relevant up-to-date information. If you provide out-of-date information, you will come across as dated. This relates to completing all requests. Remember to give the funder 100% of what they ask for. This means following instructions exactly. You want to provide the information they need, not push your information on them.

Include an Evaluation

Include an evaluation that clarifies how you will evaluate your project or program’s performance. Determine a way to evaluate the project you’ve just received funds before. Will it be internal or external? Funding agencies typically look at evaluations very favorably.

Try, Try, Try Again

Even people who have a lot of experience writing grant proposals face rejection. In fact, most applicants face rejection more than approval. That said, the grant writing process can be highly productive. You get to dial in your objectives, methodology, and more, clearly defining what problem you’re addressing, how you will achieve your objectives, and more.

Don’t let rejection stop you. Try again and incorporate whatever feedback you can get a hold of into your next proposal.

Think About Hiring a Grant Writer

It’s no secret that grant writing can be difficult. If it’s proving too difficult or time-consuming, consider hiring a grant writer to help you complete and submit your proposal. Although these professionals can be expensive to hire, it may be worth the money in the long term.

The writer will likely know the type of language to use to make your application stand out in addition to the correct formatting. Their expertise in grant writing can make the process much quicker as well.

What Makes a Good Proposal?

A good small business grant proposal has a number of identifiable characteristics. None of which are very surprising:

• Easy to understand; it doesn’t need to be sophisticated, it needs to be understandable
• Proposes something that is doable within a certain timeframe
• Clear and concise
• Details what will be done, when it will be done, and how it will be done
• Tells a compelling and exciting story; what led up to your business’s decision to go in this direction, and what benefits people will experience
• Has excellent flow and continuity
• Visually appealing
• Engages the reader and provides social proof

If your proposal has all of these characteristics, it doesn’t guarantee you will get approved. But, it does increase the likelihood you will secure the funding you need. Having a well-written and visually appealing proposal, in addition to compelling research and data, is essential.

What Makes a Bad Proposal?

Sure enough, bad grant proposals have some common traits as well. These include:

• Lacks clarity; make sure the funder knows what you’re proposing to do
• Loaded with errors; if you can’t take care of proposal, how will you treat the money you’re provided
• Unrealistic expectations
• No clear outcomes
• Lack of alignment; doesn’t match up with funder’s goals and how the funder wants to see the world
• Bores the reader; you want the proposal to excite the reader by proposing a brighter future

Bad writing, no matter the context, is just that: bad writing! Even if you believe your proposed project has all the marks of a winner, you will still need to make sure your grant proposal is well-written and thought out to help stand out from all the other applicants and make it easier for peer reviewers to understand your proposal.

Types of Grant Proposals & When to Use Them

There are several types of grants small business owners can apply for. Your eligibility for each type will depend on a number of factors. When to use each type will vary based on your proposed project and goals as well.

Federal Grants

Federal grants are a type of government grant or economic aid the US government provides from the funds made available through the general federal revenue. The government gives grants to stimulate the economy and draws from the U.S. general federal revenue. Grants can be funds for a portion of a certain project or organizational costs, or include complete funding for a project or research.

There are more than 1,000 different grant programs available to businesses and individuals that qualify, distributed by 26 grant-specific agencies across 21 distinct categories.

State Grants

State grants are need-based, state-specific awards that usually provide a smaller amount of funds than federal grants. As they are state-specific, there is often less competition, making them more attainable for small businesses. While they are smaller than a federal grant, state grants can provide the boost an organization needs to carry a project or program further, and demonstrate the project’s attractiveness to other granting agencies.

Local Grants

Local grants are awards issued by a city, county, or township, or any other local government department or agency. that stimulate the economy directly around them. Applicants are only eligible for local grants if they meet specific requirements, the most obvious being whether or not the county or city deems that the business is part of that area. This is typically true if the organization provides services to the city and its residents.

Corporate Grants

A corporate grant comes directly from a major corporation. Like federal grants, corporate grants will have various requirements, provide different amounts of funding, and be suited for specific or broad types of business or research. Companies generally set aside capital at the beginning of the fiscal year and host competitions to distribute the funds to qualified businesses.

Other Types of Grants: Nonprofits

In addition to the grants dedicated to for-profit businesses, there are four types of non-profit grants. These are dedicated to and designed for non-profit organizations and businesses.

It may not apply to you and your business, but it’s worth mentioning. The four types include: competitive grants, continuation grants, pass-through grants, and formula grants.

Competitive Grants

Nonprofits, universities, colleges, K-12 schools, and government organizations can apply for competitive grants. Occasionally, a small business may be eligible to apply as well. Competitive grants, like any grant, are submitted for approval and reviewed by a team of reviewers who make a decision to fund the proposed project or not.

Competitive grants simply mean the grant application is competitive and involves an approval process that is performed by a committee or board of directors, who base their decision on different criteria. This also means the grants are discretionary, and do not need to be awarded.

Formula Grants

Formula grants are non-competitive, and are typically awarded to support larger programs. Like a competitive grant, formula grants award funds that are distributed to businesses and organizations based on meeting specific criteria. Unlike a competitive grant, these awards are distributed to applicants based on a statistical formula and overseen by a legislative body.

All applicants that meet the criteria will receive funding, but the amount is based on certain benchmarks. This means formula grants are always awarded. Awardees can include states, local governments, territories, and other types of government organizations.

From there, states may be able to allocate money to organizations and businesses for a specific activity. The amount the awardee distributes can be based on the numbers an organization serves or the number of residents in the community.

Pass-through Grants

Like federal, state, and local grants, pass-through grants come from the federal government. The funding is distributed to a state or local government, who then passes on the funding to different organizations, institutions, and businesses. Eligible applicants can apply to states or municipalities for federal funds to stimulate the local economy and make an impact in a specific community or area.

Continuation Grants

Non-profit organizations can use continuation grants to renew a previously awarded grant for an additional amount of time. Without a continuation grant, the funding for the project would expire. These grant opportunities are also an opportunity for the awardee and funder to foster a relationship. While continuation grants are discretionary and mostly available to existing awardees, new applicants may be considered.

How to Find Grants for Small Businesses

There are different databases available online that you can access to search for various small business grants. Some are free, while others require a subscription.

Below we review government grant databases on the federal, state, and local levels, as well as corporate grants you can apply for and the databases you can use to search for private grants.

Federal Small Business Grants & Databases

Government agencies are among the biggest distributors of business grants, supporting a range of enterprises from environmental conservation to child care services. Applying may seem intimidating, but federal grants are great opportunities for small-business owners looking to grow.

Grants.gov allows you to search for grants based on category, eligibility, agency, and funding instrument type. It lists all of the grant opportunities currently available across more than a thousand different programs as well as closed and archived opportunities. It aims to simplify the grant search and application process.

SAM.gov is an official US government website. It is a central database for everyone who makes, receives, and manages federal grants and awards. Government contractors can use SAM, short for Systems for Award Management, to search for grants and contracts and view contract opportunity reports . To use the site and do business with the US government, you need to register your business. Learn more about the website’s requirements and features using its  help center .

USDA Biotechnology Risk Assessment Research Grants

The National Institute of Food and Agriculture (NIFA) offers a wide range of grant programs for agriculture- and agriculture science-based research and business initiatives. One such program,  the Biotechnology Risk Assessment Research Grants (BRAG) program , provides funding to support research that will help regulatory agencies make “science-based decisions about the effects of introducing into the environment genetically engineered organisms (GE).” This includes a wide range of organisms, from plants, microorganisms, fish, and birds to mammals and other animals.

Businesses can view BRAG’s Request for Applications (RFA) to learn more about the grants program, funding opportunity, award information, eligibility information, and more. Businesses can also apply for a grant directly on the agency’s website.

USDA Rural Business Development Grants

The U.S. Department of Agriculture (USDA) oversees and manages the Rural Business Development Grant program . It provides funding to strengthen and grow small businesses throughout rural communities.

In order to qualify for funding, businesses cannot have more than 50 new employees. Additionally, the business must have less than $1 million in gross revenue. It needs to also be located in an eligible rural area . Grant proposals are accepted only once per year through the local or state USDA Rural Development offices.

SBIR/STTR Programs

The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs enable US-based, for-profit small businesses to become involved in federal research & development. The STTR also includes a partnership between the small business and nonprofit research institutions to formally collaborate in Phase I and Phase II.

These programs include a searchable solicitations database you can explore to find potential funding opportunities. These contract opportunities are available through different funding agencies, including the NIH, NSF, and more:

The National Institutes of Health (NIH) has a funding database that allows researchers to search for different types of grants, contracts, and even programs that help repay loans. There is also research training and career development available. You can subscribe to their weekly email newsletter that summarizes the funding opportunities posted each week and stay up to date with what solicitations are currently open.

The National Science Foundation (NSF) has an opportunities database that allows you to filter their opportunities according to different factors like award type, directorate, division, and education level. The database lists current, available opportunities with their respective due dates.

However, you can find the agency’s archived funding opportunities on its website as well. Reviewing the archived listings can give you a better idea of what the NSF has funded in the past, what they may fund in the future, and whether or not any of it applies to your R&D.

The US Department of Energy (DOE) lists funding opportunity announcements (FOAs) on their website according to offices within the department. You can search through its database based on program, fiscal year, and post date or close date. Additionally, the DOE lists Open Lab Announcements and Closed Lab Announcements as well.  

Through the Office of Small Business Programs (OSBP), the US Department of Defense (DOD) offers a number of grants, contracts, and funding opportunities for organizations and small businesses performing research and development.

OSBP manages a number of DOD programs, from the Mentor Protege Program and Indian Incentive Program to DOD small business program funding, market research, procurement goals, and contracting processes and activities. You can explore the various programs managed by OSBP and search for contract or grant opportunities on its website. These opportunities are mostly applicable to small businesses interested in commercializing their R&D.

State & Regional Small Business Grants & Databases

Economic development administration.

The Economic Development Administration (EDA) is an agency overseen by the Department of Commerce (DOC). It provides grants, resources and technical assistance to communities based on local business needs and conditions in order to stimulate and support economic growth and development while promoting entrepreneurship.

You can search the site for current and previous funding opportunities spread across the agency’s various programs. Additionally, you can search the economic development directory for regional offices and local resources.

State Business Incentives Database

The State Business Incentives Database is a database created by the Council for Community and Economic Research (C2ER) . With close to 2,000 programs from around the US, the database gives business owners, economic developers, business development professionals, and economic researchers a place to search for and compare various incentive programs.

Its site includes a map feature you can use to search for grants based on location, and provides information on tax credits and exemptions. To use the site, you must have an account. However, accounts are only available to members of C2ER.

California Grants Portal

The California Grants Portal was developed by the California State Library. It provides a central location for state grant opportunities, allowing state grant-making agencies to add and update their award information, and for grant seekers to search the database for opportunities. This makes it possible for all state grant opportunities to be searchable online.

Each listed grant includes a summary of what is needed to apply and how, along with links that businesses and organizations can follow to learn more. To the same effect, the California Grants Portal site includes an FAQ section .

State Trade Expansion Program

The State Trade Expansion Program (STEP) , provides state and territory governments with funding to distribute to small businesses with export development.

Supported by the SBA, STEP helps small businesses cover the costs to start or expand into international markets. Funding and eligibility requirements vary based on your state, but the money can be used to participate in a variety of business activities.

California Office of the Small Business Advocate

The California Office of the Small Business Advocate (CalOSBA) supports economic growth and development in California, ensuring California-based small businesses and startups have the support and resources needed to search for programs and understand regulations.

CalOSBA’s many funding programs include the California Microbusiness COVID-19 Relief Grant Program, California Small Business COVID-19 Relief Grant Program, California Dream Fund, and more.

Minority Business Development Agency Centers

The Minority Business Development Agency Centers (MBDA) is a nationally ran network of business development centers that support the growth and promotion of minority-owned small businesses. This includes helping businesses secure funding and contracts and compete in emerging markets.

Search for your local MBDA center and programs to apply for various types of funding, including state and local business grants and loans. The agency also typically holds a small-business grant competition annually. You can find contest updates on MBDA’s website.

Corporate/Foundation Small Business Grants & Databases

Many corporations and larger companies offer nonprofit and small-business grants. While some corporations work solely with nonprofits, others also provide funding to for-profit small businesses.

GrantWatch is a grant listing directory that currently features more than 28,000 grants, funding opportunities, awards, and archived grants—some of the archived grants will become available again as well. These grants come from a wide variety of sources: corporations, foundations, and government agencies on the federal, state, and local levels.

While GrantWatch can be an excellent database to search for grants , it does require that you become a member. With the free account, you gain access to a number of features and can search for grants using different dimensions, such as location and grant type.

However, if you want to get highly granular with your searches, access complete grant information, and access direct links to Requests for Proposals (RFPs) in order to apply, you’ll need to sign up for a paid account. The website also provides a wide range of resources, news, and more.

Sloan Foundation

The Sloan Foundation offers grants that support original research and education focused on science, technology, engineering, and more. The foundation’s funds are provided through the accumulated wealth of Alfred P. Sloan, and its mission is to use its funds and grantmaking abilities in the service of the public good.

The foundation selects projects to fund based on proposals submitted by both individuals and teams with original and innovative ideas. It is most interested in projects that have an expected return to society, show strong methodological characteristics, and do not yet have wide access to funding through government agencies, the private sector, or other foundations.

You can learn about the foundation’s grants , its grantmaking strategy, what it doesn’t fund, its grant application process, and more on its website. It also provides a searchable grants database you can use to see what’s currently available and archived.

GrantForward

GrantForward is a funding opportunity database and recommendation service created by academics for researchers. You can search for grants using a specific keyword, however, in order to get complete use of the site and additional searches, you’ll need to create an account. Free trials are available.

GrantForward uses a search algorithm alongside a team of specialists to continuously add new and up-to-date funding opportunities to its database, making sure your searches are as relevant and current as possible. It also provides search filters that make it easy to quickly find a funding opportunity that fits your needs.

The database includes a wide range of grant types you can search through, from fellowships to post-doctoral to equipment, facility, and organization grants. In addition to searching for grants, you can find pre-solicitations and awarded projects as well. However, you’ll need an account to complete these searches.

Instrumentl

Nonprofits and professional grant writing consultants rely on Instrumentl to match with the right funders, identify trends, and track and manage grants.

While Instrumentl works most closely with nonprofits, helping match grant writers with private and corporate grants their organizations can use to achieve specific goals, it also provides an extensive database for other opportunities. This includes federal and state grant funding opportunities.

You can search the website’s grant database by focus area, location, or foundation . In addition to its databases, you can leverage Instrumentl’s educational resources to better understand how to use Instrumentl, improve your grant writing, and more.

Visa Everywhere Initiative

The Visa Everywhere Initiative is a grant competition that offers funding to tech-forward startups across five different regions around the globe. Applicants must show how they’ve developed a product or service that creatively involves Visa’s products.

Visa will select the top five finalists in each region — and these businesses will move forward to a global finals event. The overall winner of the competition is awarded a $100,000 small-business grant. Additional grants are awarded to second- and third-place finalists, audience favorites, as well as regional and local winners.

FedEx Small Business Grant

FedEx’s annual grant competition awards more than $250,000 to 10 small businesses. This includes $4,000 in FedEx print and business services and a $50,000 grant to its three grand prize winners. While the 2022 contest has closed, it opens up again each year. Dates are posted to the company’s website once they are finalized.

The FedEx small business grant, as one would expect, is available to US-based, for-profit small businesses that have been in operation for a minimum of six months. Businesses can have no more than 99 employees. You can visit the site’s FAQs to learn more about eligibility requirements and more.

fundsforNGOs

fundsforNGO provides a wide range of resources and services for countless industries . It works to improve access to resources and enable a more sustainable environment. The organization accomplishes this by researching, developing, and curating content that supports the growth and sustainability of nongovernmental organizations (NGOs) and individuals working specifically in poverty alleviation and sustainable development.

Its many features include business intelligence, training, publications, and networking. However, most importantly for you, it also provides searchable databases of grants, donors, and proposals aimed to help NGOs find the information they need and track funding opportunities. In addition to its databases, fundsforNGOs also assists with grant writing, helping you plan and create your proposals.

Additional Resources

There are additional resources you can rely on to help with your search for grant funding. This includes various organizations that provide free help for your business. Many sources you can find through sba.gov and sbir.gov, however, you can also review the agencies below.

Small Business Development Centers

Small Business Development Centers (SBDCs) offer support to small businesses and entrepreneurs. There are local, regional, state, and national offices located across the country, so it can help to find one closest to you.

Some SBDCs are associated with local universities or a state’s economic development agency, as well, and can help connect you with small business grants, federal grants, and business financing opportunities. SBDCs generally offer training, counseling, and technical assistance in addition to support with grant funding.

For example, an SBDC can usually help you create a compelling business plan and pitch for your business, and help you understand how you’ll want to use the grant money you’re seeking out.

This also includes navigating the grant process. SBDC advisors have a lot of visibility locally and can help connect you with small business grants.

SCORE is a nonprofit organization supported by the SBA. It provides free entrepreneurship training, tools, and mentorship to US-based small business owners. Like SBDCs, SCORE is a free online resource entrepreneurs can access when they need help.

You can use SCORE to connect with a wide range of experts based on zip code for free. You can also request a match, search for a business mentor, or find your local chapter to get the advice or expertise you’re looking for. The SCORE mentor you’re matched with will hopefully be able to identify local grant opportunities for you and review your pitch or proposal to ensure it’s compelling and well-written.

In addition to mentorship, you can access a variety of workshops online and in-person. Browse through SCORE’s library of webinars , on-demand courses , and local workshops to find a class that can help you improve. Live classes are also available if you can’t attend workshops in person.

Grant Resources Center

The Grants Resource Center (GRC) is part of the American Association of State Colleges and Universities. This subscription service helps college/university offices secure more funding from federal and private groups.

It provides publications on a fixed schedule, management resources , funding resources , and a database where you can search for grants . Searching for a grant requires an account with GRC.

Procurement Technical Assistance Centers

P rocurement Technical Assistance Centers (PTACs) provide assistance to businesses looking to work with the US government, Department of Defense, and other federal, state, and local government agencies. Most of the assistance provided by your local PTAC is free.

If you need to determine if your business is ready for government contracting, eligible for small business certifications, register in the correct place to begin the process, or assistance with researching past contract opportunities, then your local PTAC can help. You can search the SBA PTAC database to find a center near you.

You can also work with a procurement center representative (PCR) if you need help securing government contracts. Because PCRs are able to see government procurement strategies before they’re announced, they are in a good position to help you in touch with a small business opportunity.

Additionally, PCRs also help carry out SBA policies and programs, assist small businesses with payment issues, conduct market research, and provide counseling with the contracting process.

Small Business Grant Proposal Templates

There are many free online grant proposal templates to choose from. A template can help you put together a visually appealing proposal or give you an idea of how to format your own proposal.

We suggest you use a template as a study guide or reference point rather than your actual proposal only because the grant you are applying for may require different formatting or information. That said, here are some resources that provide small business grant proposal templates:

• PandaDoc grant proposal template
• Jot Form grant proposal PDF templates
• Wise free grant proposal template
• Sample.net small business grant proposals in PDF
• Technical Writer HQ grant writing templates
• SampleTemplates grant proposal samples & small business grant proposal templates
• Template.net grant proposal word templates

Conclusion: Applying For a Small Business Grant With Confidence

As a small business owner, things can feel pretty daunting at times. Being able to cover costs, push ahead on new programs or initiatives, and keep everything going requires significant cash flow. Luckily, there are a number of grant funding sources available to small businesses in the US.

Knowing what the grant writing process looks like and how to write a grant proposal before you get started can be a great help, reducing the amount of time, energy, and effort required to put together a winning grant proposal. This guide can serve as the first step toward building the knowledge and confidence needed when applying for a grant, and will make it easier to secure the funding you need to bring your idea to light.

Excedr has worked with a number of clients who secured grant funding in order to fund research and development, specific business initiatives, and provide services to the communities around them.

In some cases, that grant funding was available to use to lease lab equipment. By leasing the lab equipment they needed, our clients were able to extend their funding and save more for their research and development efforts.

In other cases, the grant funding was able to cover a client’s R&D or business costs, freeing up more room in their budget for equipment procurement and other initiatives.

Rather than put all that extra money into purchasing a few pieces of equipment, our clients leased instead, saving money on upfront costs and spreading out payments via manageable and consistent payments. If you’re interested in learning more about our leasing program , our team will be happy to provide you with more details. Contact us and let us know how we can help with your leasing needs.

Good luck on your grant writing journey. Securing grant funding can be an amazing moment and opportunity to accomplish great things!

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• Small Business

How to Write an Effective Grant Proposal

Updated Aug. 5, 2022 - First published on May 18, 2022

By: Liz Froment

As a small business owner, you probably know what it's like to need financing. Cash flow can fluctuate, and unexpected expenses can put a real squeeze on a budget that's already tight.

One avenue to explore for funding is securing a grant . A grant is essentially free money which you don't have to pay back. Funding can come from various places, including your local and state governments, the federal government , public and private organizations, and even individuals. All kinds of business owners , from solopreneurs to corporations, can apply for grants.

What to consider before writing your grant proposal

Before jumping into how to write a grant letter, you need to consider some key factors. Addressing these ahead of time, even before you begin your search, will help make the grant writing process much more effective.

Grants.gov lists thousands of grants available to business owners. Image source: Author

1. Time frame

Why a business credit card could transform your small business.

These business credit cards that offer a convenient and efficient way to separate personal and business expenses, simplifying accounting and tax reporting.

Additionally, business cards can provide valuable perks such as rewards points, cashback, and expense tracking tools, enhancing financial management and the potential to help save money in the long run.

Many grants are publicly open for a set period, which can be many months. Even then, if your proposal is selected, you might not see the funds right away. Writing a grant proposal can be a time-consuming process, so factor that in from the start.

2. Spending requirements

Many grants, especially those offered by the government, have strict rules on how you can spend the award. You won't just get a check you can spend on anything; you must meet the grant's requirements.

Before you apply, go through the requirements. Understand how the funds can be used and plan for that ahead of time. Thinking through this can also help you when it comes time to start your application -- if you know how the funds need to be spent, you can create goals and a budget around that.

3. Reporting requirements

With many grants, you must provide detailed information on how you've spent the funds, including documentation. Sometimes, these might require extensive tracking and reporting.

Consider if your company has the ability and the people power to meet these reporting requirements. If possible, designate a project stakeholder in charge of managing and monitoring all the requirements.

How to write your grant proposal in 7 steps

Now that you've done a search and found a grant that you’d like to apply for, it’s time to write a grant application. Here’s how.

1. Review the instructions

Before you write a word, clearly understand what you need to provide in your proposal. Missing any documents, requirements, or deadlines will disqualify your application.

An example of SBA instructions on Image source: Author

grants.gov. Source: grants.gov.

Read through the instructions and requirements multiple times. Then, research the organization to know their goals and what they’re looking for in the applications. You can use that information to your advantage in your proposal.

2. Write your executive summary

Your executive summary serves as the main overview of why your organization wants the grant, your funding needs, and how you plan to follow through with the project. Remember, you'll have only a few paragraphs in this section, no more than one page, so put your best foot forward.

Make sure your executive summary is engaging with short, crisp sentences that get right to the point. The summary is the first introduction to your business. Use this space wisely to convince the granting organization to keep reading.

3. Write your needs statement

The needs statement, also called the problem statement, is the real meat of your grant proposal. Here's where you detail the problem you plan to solve and how you’ll do it with the grant's funds.

When writing your needs statement, convey two key points: the scope of the problem and what sets your business apart in solving that problem.

Show that you've done your research and homework. Take the time to lay out your argument, use supporting data, and highlight your company's plans in detail.

Keep your reader in mind, and keep the language simple. Remember, the reader might not have your technical expertise in an area, so don’t overwhelm them with technical terms and jargon.

4. Write your project description

In this section, you cover two areas: the goals for this project and how you plan to hit those goals.

When considering your goals, stick to objectives that can be tracked and measured. That way, you can provide the grantor with an outline of your successes.

After you lay out the project goals, dive into how you plan to achieve them. Here again, you want to show your work, so get into specifics. The more information you can provide, the better.

Consider including:

• The project's estimated timeline
• The project's estimated budget
• How you've approached this problem before and why you're well-positioned to continue
• The number of people who will work on the project and their roles
• Your resources to tackle the project and any you may need
• Specific members of the community who will benefit from the project
• Highlight the key performance metrics you'll use to track the project
• How you plan to evaluate the project's success

Your ideal outcome for this section is to have the organization read it and have a clear picture of what you plan to do with the funds, how you will manage and measure your project’s progress, and who will benefit from its success. Tie your goals into the overall organizational goals of the granting institution, and it’s even better.

5. Write your budget

Although you've touched on your budget in the previous section, here's where you want to dig into the specifics. Create a detailed and realistic budget. It helps to provide some of your financial documents here. Always try to keep your numbers within the funding limits the granting organization provides.

It might sound obvious, but review your numbers and triple check calculations for accuracy. A simple error here could disqualify your entire proposal -- an organization isn't going to go out of their way to give money to a business that can't get the budget numbers right.

6. Write your cover letter

Even though your cover letter will be the first part of your grant application, it helps to write it last. Why? You’ll have a much deeper insight into everything you've put into the proposal, so you can best introduce your company, your approach, and summarize your needs.

7. Do one last review

Never submit your proposal without reviewing it one final time. Be sure you've hit all the guidelines, included the required documents, formatted the proposal in the right order, and eliminated simple spelling or math errors.

Once you're confident you have everything correct, submit it confidently.

3 tips and tricks for writing a successful grant proposal

Securing a grant isn't always easy, but there are tips and tricks those in the know use to help them get ahead.

1. Get an experienced proofreader

One of the best ways to improve your chances of success is to hire someone who has experience reviewing grants -- ideally from your industry. Besides catching general errors, they can offer advice and insights on how to make your proposal better.

2. Reach out to winning companies

If the organization has been giving out grants for a while, it never hurts to get in touch with a prior winner and ask for advice. They likely have a few tips or insights they might share with your company, and this information can be a secret weapon in learning how to write a winning grant.

3. Think like a reviewer

Approach your application from the angle of a reviewer instead of a business owner. Most organizations that bestow grants have long-term institutional goals, and they want to see how their funding can help boost those goals. Distinguish your proposal by showing how your use of their funds directly aligns with those goals.

Grant opportunities await -- you just need to find them

Writing a grant need not be daunting, if you know how to approach it. Now, you can search for opportunities and feel confident that you know how to write a grant application that can help you secure funding.

Our Research Expert

Liz Froment is an SMB financing expert writing for The Ascent and The Motley Fool.

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How to Write a Business Plan for Grants

How to Get Start-Up Capital Grants for Cosmetology Schools

Writing a business plan to get grants to start a new business can be a huge challenge. There are small business grants in federal and state governments, and nearly every small business has an opportunity to apply for grants for their business. From grants for technology to grants for women-owned businesses, there are thousands of grants available, but knowing how to write a business plan for grants is challenging--and places you above the others when it comes to decision time to hand out the grant awards. In this article you will learn how to structure a grant application to get a grant for your new business, and be on your way to starting or expanding your new business. Whether you are creating a new division or just starting out, grants for business will help you.

Search online for a business plan template. Enter the phrase "business plan template" into the search engine of your choice. You need to create a business plan before you even begin to think about the grant aspect of your application process.

Write a business plan. You want to be as thorough as possible, and write your objectives, description of the business, and financial statements with clarity and conviction. Have someone proofread your business plan carefully.

Search for grants. Locate the grant you want to apply for with your business plan. Be very careful when searching for grants. You want to pick a grant for which your business is fully qualified.

Tailor the business plan to the grant application. Go through the grant foundation's mission and purpose. Make sure to add some buzzwords from the grant's mission statement in your grant application.

Follow the grant application step by step. Be thorough and answer every question. Revise your business plan throughout the entire process. The business plan is a work in progress; it's never done until the day you mail out the application.

Finalize the grant application. Make sure the application answers every question, that it's well-written and error-free.

Mail the application certified mail, return receipt, or overnight via FEDEX or UPS, so that you get a receipt showing they received it.

Wait for a response. Don't call the grant agency; they'll contact you to let you know whether you received the grant.

• Always call, email or write grant administrators if you have questions. Never guess--always ask--if you have a question about the grant application.
• Don't waste time applying for grants that your business isn't qualified for. You waste your valuable time, the grant committee's time, and you also lose out on other grants that are more in line with your business.
• U.S. Small Business Administration. "Grants." Accessed July 2, 2020.
• Grants.gov. "The Grant Lifecycle." Accessed July 2, 2020.
• Grants.gov. "Community Connect Grants." Accessed July 2, 2020.
• U.S. Department of Housing and Urban Development. "Community Development." Accessed July 2, 2020.

How to Write Proposals for Small Business Grants

• Small Business
• Money & Debt
• Small Business Grants
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How to Write a Good Proposal for a Non-Profit Orgnization

How to write a grant for a nonprofit organization, how to apply for government grants for farm equipment.

• How to Motivate a Team to Be Professional
• Successful Proposal Strategies for a Small Business

Applying for a small business grant is a competitive process. The grant money is supplied for specific types of businesses, and those responsible for dispensing the money must review a a litany of applications to select the businesses that will receive the money. The most important way to raise the chances of success in applying for a grant is to write a successful proposal.

The proposal should detail the business’ mission and activities, future goals, reasons for requesting the grant money and plans for using the grant money. Writing a proposal for a small business grant will take some time, but it will be worth the effort when the proposal succeeds in meeting funding requirements for a new business venture.

Grant Proposal Preparation

The grant selection committee wants information not only about the type of business you operate but also about your objectives for that business. Start by reviewing your business plan, and make a list of all information about your business’ mission and goals. Take the time to write out this information for yourself in advance.

Next, research the grant program, its objectives and those who run it. In other words, complete some background work to see how you can tailor the proposal to meet the requirements of the grant program. Understanding priorities and where the proposal committee is coming from will help you in drafting an effective proposal. The Ascent – a Motley Fool Service – indicates that organizations such as the Small Business Administration offer resources geared toward grant writing for beginners for those who are new to the process.

Grant Proposal Instructions

Business News Daily emphasizes the importance of meticulously following instructions when responding to a request for proposals. For example, grant proposals generally instruct applicants to follow a specific outline to use an attached template. Where possible, use a template, as this provides consistency for the proposal committee. Disregarding writing instructions suggests you're not a serious contender for grant funding.

Review online examples of grant proposals for youth programs, for instance, to see how proposals similar to yours should be constructed. Provide clear headings and sub-heading for the reviewers to follow. Maintain consistency in font size and style throughout the document to ensure readability.

The call for proposals will also instruct you on the evaluation criteria that must be met and how the grant committee will consider each proposal. Make a list of all criteria for grant approval. Review these carefully before even drafting, and list them out to compare to your proposal to align your goals with the purpose of grant funding.

Grant Proposal Essentials

Explain your business and its objectives clearly and effectively. Focus on action words to describe business activities, and look for opportunities to indicate what sets your business apart from others. Discuss your target market and how you are reaching that market. Grant money should not remain stagnant, so the proposal committee needs to see how you will put the money to good use in expanding your business by gaining new customers.

Present your proposed budget for the grant money. Be as specific as possible, explaining how the money will be used and why. Offer charts and graphs to show allocation and expected growth projections.

Final Review

The grant proposal should contain all of the required information and be easy to follow from start to finish. If you have any trouble understanding the stated criteria or other jargon from the call for proposals, be sure to call or email the contact person. Grant committees know that understanding all the details of the grant proposal requirements can be a challenge, so they typically provide someone to answer questions that arise. Correct any grammar and spelling errors prior to submission and pay close attention to deadlines.

• The Ascent: SBA Grants: How to Prepare, Apply and Win
• Business News Daily: How to Secure a Business Grant
• If you have any trouble understanding the stated criteria or other jargon from the call for proposals, be sure to call or email the contact person. Grant committees know that understanding all the details of the grant proposal requirements can be a challenge, so they typically provide someone to answer questions that arise.
• Some grant proposals require a specific template, or a template is available to use. Where possible, use a template, as this provides consistency for the proposal committee.
• Review sample grant proposals online to see how other proposals are constructed.

Kristie Lorette started writing professionally in 1996. She earned her Bachelor of Science degree in marketing and multinational business from Florida State University and a Master of Business Administration from Nova Southeastern University. Her work has appeared online at Bill Savings, Money Smart Life and Mortgage Loan.

Related Articles

How to process grants, step-by-step grant writing, how to make the right decision on how to use your grant money, how to write a request for a grant proposal, how to write government grant applications for small businesses, what gives you a good chance of getting a small business grant, tips on how to write personal grants, how to apply for federal homeland security grants, how to get grants for equine-assisted therapy, most popular.

• 1 How to Process Grants
• 2 Step-by-Step Grant Writing
• 3 How to Make the Right Decision on How to Use Your Grant Money
• 4 How to Write a Request for a Grant Proposal

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11 Steps to Writing a Grant Proposal for Small Business Funding

Do you want to apply for startup grants but don’t know how to write a proposal? If YES, here are 11 steps to writing a grant proposal for small business funding. Starting a business is not easy feat especially for people who are considered disadvantaged like Veterans, the disabled or people who are in minority.

For this reason, certain nonprofit organizations, agencies and foundations have been set up by government and even private individuals to provide these people grants to start their small businesses. If a new small business is struggling financially or if the business operates within a certain field, like agriculture or nonprofit charities, a grant may be the best way to obtain funding.

What is a Grant?

Grants are typically a donation of a set amount of money made by foundations, other businesses, government agencies or nonprofit organizations to companies or individuals that meet specific requirements and qualify for the grant.

Grants are given to businesses for free, so they are not to be paid back. This is one of the major or even the only lure of grants. A grant differs from small business loans in that loans must be paid back, typically with interest. Because they offer free money, grant giving organizations are usually quite strict in their requirements.

How Easy Is It to Access Grants?

The truth is that there is a lot of free money out there begging to be spent on businesses that are ready to advantage of it. That’s grant money. Several organizations, foundations, and government bodies provide grants for small businesses and nonprofit organizations. If you are looking for grant money for an existing or new business, you are more than likely to encounter difficulties finding grant funding, but it’s not impossible.

If anything makes grant funding similar to bank loans and equity funding ( by investors and venture capitalists ), that would be the fact that you need to write a proposal to get it. And as with proposals meant for lenders and equity funders, your proposal for a grant funding must be downright compelling. Even though the grant issuer isn’t taking any gains from your profits, they don’t want their funds to go down the drain.

So, you need to send a proposal to convince them that your idea or business is viable. This explains why such a proposal needs to include many of the elements in your business plan—the same elements that make your business plan compelling. While business plans and grant proposals serve nearly the same purpose, the two are different from each other.

What Do You Need to Access Small Business Grants?

Organizations that provide grants have a vision they want to use that grant to accomplish, so you need to find this vision, read through it, and tailor your grant application to align with it. Typically, you get one shot at a grant proposal, so you need to make the best out of it. You should know that businesses of different sizes and types have different kinds of grants and they are different organizations that offer these grants.

Projects relating to medicine, agriculture or research, will all qualify for separate grants. So the first step in applying for a grant is to determine which one is best for your business. In the united states, the new business will need to register with a federal grant program before they can apply for a grant.

You would need to obtain things like a DUNS number, and an employer identification number (EIN) should be included in your form before you can complete your grant registration. Once the business has been registered, the next step is to write a proposal for the grant and fill out the application form.

Herein then lies the problem, writing the grant proposal. It should be noted that many people have been deprived of grants because their proposal was never at par with what the organization’s needs. Even if you are the best person for the grant but you have a poorly written proposal, the only thing your proposal would see is the trash. This is why you need to take time when writing your proposal.

You will greatly increase your chances of getting grant funding for your business if you really know how to write a compelling business proposal for grant funding. Writing such a proposal isn’t as difficult as you think. Here are the steps involved in writing a winning proposal.

• How to Write a Fundraising Proposal

Writing a grant proposal can be quite challenging for the small business owner as it is an art that takes time and practice to master. This is because grant writing is quite technical in its requirements, but that does not mean that it is the most difficult task in the world. Each grant is different in its requirements, but most of them ask for the same basic things. You only need to follow this general guideline and you are on your way to getting the perfect grant proposal.

Grant proposals are different from business plans, but include many of the same elements and serve nearly the same purpose. The grant proposal is usually divided into various parts; you need to be careful and as detailed as possible when writing each so your proposal does not appear shallow. Here is an outline you can use to write your small business grant proposal;

1. Know what the grant issuer wants

Before writing your business proposal for grant funding, you must bear in mind that your proposal must be tailored to each individual grant issuer that you seek grant funds from. So, you need to really understand the requirements of each grant issuer if you want your proposal approved for funding.

Find out the requirements of the grant issuer you are sending your proposal to. This will help you know what to include in your proposal and what not to include.

2. Your cover page

To start, you need to create a cover page for your proposal to make it look professional. Your cover page should include your company or Business Name, the date of submission, and the name and contact information of the company representative assigned to work with the grantor. This of course comes first but it is usually written or created at the end of the proposal.

3. Cover Letter

The cover letter introduces the business to the grant organization. It is the first part the grantor goes through so you need to describe your business clearly, but keep it short and preppy because your cover letter is not supposed to be lengthy. Here, you should let the organization know why your business is perfect for this grant and what you aim to accomplish with it.

Make sure to cater to the specific grant and not speak in generalities as if you are applying to every financing source in the United States. Use the cover letter to state the needs your organization serves, how you address these needs, and how your mission fits with the goals of the grantor. Include your contact information in the cover letter too.

Here are a few tips for writing a good cover letter;

• Address your cover letter to an individual—making sure they are the correct person.
• Limit your cover letter to one page with three or four paragraphs at most.
• Include a statement of support from your board of directors.
• Do not include a cover letter in federal or state grant applications, unless they specifically request one.

4. Table of Contents

This is where you outline the sub-heads of the various chapters and where they can be found. It makes it easy for the reviewer to jump to whatever section they wish with ease. It also displays some professionalism on your part. Again, funding organizations usually receive high volumes of grant proposals; the more reader-friendly your proposal is, the easier it is to fully understand your organization, its mission, and its needs. Place the table of contents immediately after your executive summary.

5. Compare your proposal to the funder’s requirements

Remember that each grant issuer is very specific in what they are looking for and will rarely deviate from their requirements. (The fact that there is a lot of money available doesn’t mean they will fund just anything).

So, you have to ensure that your proposal’s outline and summary really matches what they expect from you. Even if your business idea is brilliant and promising, the funder will never bend their rules to fund your business if your proposal doesn’t play by their rules.

6. Write the first draft

After having ensured that the content of your proposal matches the requirements of the grant issuer, start writing your first draft by expanding each point in your outline. This first draft doesn’t have to look good or perfect—it’s a draft and you can polish it later. You must emphasize the aspects of your business that the funder will like best (their requirements/guidelines will give you clues).

7. Executive Summary

The executive summary of a document summarizes the rest of it. In this document you should pinpoint the main reasons the grant is needed and how it will solve the problems of the granting organization. While you explain this, the amount of funding as well as information about the venture should also be listed.

Use this part of the document to convince the grantor that funding your business is the greatest idea ever. Describe how your organization and its mission match the philosophy and specialization of the grantor in the executive summary.

An executive summary is similar to a cover letter in many respects, but it is usually longer. Make certain that your summary clearly describes the contents of your grant proposal. If you manage to get their attention, they will continue reading the rest of the proposal. Here are Tips for writing an executive summary:

• Identify your organization.
• Include your mission statement.
• Emphasize the key points of your grant proposal.
• Clearly communicate the need for your business.
• State the cost of the project and the amount you are requesting.
• State the time period for the project.
• State the results that are expected from your business.

8. Your Statement of Need/Problem Statement

In this section of the document, you have to provide in great detail the needs and problems that the business, project or venture is fulfilling and solving. Conduct research and show that you have done your homework. Answer key questions like, what is the scope of the problem? What will your business do that someone hasn’t or can’t easily do in the future? Show that you fill a void in the market and that you need the grant to do so.

Fully conveying the nature of the unmet or underserved needs that your organization can fulfill is vital to gaining funding. Also, adding hard statistics and quotes from people impacted by your organization add weight and credibility to the proposal. Be concise and to the point. Here are some tips for writing statement of needs;

• Make sure your statement of need is well-written and reader-friendly.
• Use quantitative data: statistical analysis, trends and expert views that support your argument.
• Reference reputable research, literature and comparative data to support your argument.
• Explain your time frame, and why securing funding is critical now

9. Project Description

The project description section is the main section of your grant proposal. This section is written best by separating different issues and ideas in separate sections. This will make it easier for you to write the section by focusing on one idea at a time, and make it easier on the reader as well since the section won’t be all scattered.

10. Objectives of your business

This section would contain the goals you aim to achieve with your business. You may not have to list anything in intense detail; just give the reviewer a highlight of the objectives of your business. The objectives section includes measurable aspirations of the venture such as achieving a hold of a certain percentage of the estimated market. Break down your objectives in a bulleted list so it is easier to read.

Tips for writing your proposal’s objectives:

• Use quantifiable terms.
• Identify who or what your objectives will serve.
• Make sure your objectives are measurable and realistic.
• Objectives should be consistent with your statement of need.

11. Methods/Project Management Plans/Timelines of the business

This section will show the reader how you intend to achieve your objectives. The methods, plans, and timeline of implementation for those methods and plans will also be shown. Visual timelines are best to show the reader exactly where everything fits into the scheme of things as well as when. This section shows the reader you not only have goals and objectives but that you also know how to achieve them using a detailed well thought out plan.

12. Number of staff you need

Many government grants will have stringent personnel requirements because they want you to create employment with the money that they are giving you in order to alleviate poverty and want. If the grant requires a certain number of personnel, make sure your personnel planning matches those requirements.

Also make sure that your objectives match personnel planning. Provide an overview of your organization’s top leadership, including its founder and board of directors. Include short professional biographies, focusing on the experience and resources each leader brings to the organization. Then you can write briefly on all the roles required to be filled in your business.

13. Your Financial Projections/budget

This is where you tell how you’ll use the money you receive. It should be within the amount you are asking for, be realistic and include only eligible expenses. Grant amounts are generally determined by the funding organization. Use the dollar amount anticipated and set up a budget for your project.

Make it detailed enough to satisfy anyone’s curiosity on the question of how the money will be spent, and make sure everything adds up. The financial section is your opportunity to convince the grant organization that you have a firm understanding of managing finances and budgeting your anticipated grant money.

Use realistic numbers in your budget, remembering to include all the costs that might be associated with your project. For example, if your project includes the need for printed marketing materials, you might need the services of a graphic artist and a professional printing company, as well as postage for mailing the materials.

Here are some tips for writing this section;

• Make sure all figures are 100% accurate.
• Specify direct costs—the expenses for which the requested grant funding will be used. Direct costs include personnel, fringe benefits, travel, equipment, and supplies.
• Specify all sources of income and contributions, including volunteer services calculated at “market value.”
• State all indirect costs and overhead associated with administrative expenses.

14. Polish your draft

After completing your draft, go through it carefully and polish it up. Edit sentences where necessary to make your ideas clear and concise. Read it aloud to yourself to hear how it flows. You will probably do a lot of rewriting here—and that’s okay.

Look for strong words to replace any weak ones. Eliminate fancy or difficult words for simpler ones. Correct all typographical, spelling, grammar, and style errors. And ensure that your completed proposal goes well in line with your original summary and outline.

15. Conclusion

Write the conclusion section, which should be about one paragraph to reiterate your request and need in just one sentence and explain how your non-profit will sustain the project when funding ends. Thank the foundation for the opportunity and include a final appeal for assistance.

In conclusion, grant awarding organizations usually prepare an application package that lists what they’re looking for in a grant proposal and you should do well to follow their guidelines. Typically a grant package will require specific information that must appear in the grant.

To effectively respond and create a grant proposal, it helps to follow the grant application requirements in order. Answer each question that is asked using the same “voice” as that found in the documents. Mirroring the verbiage in the document helps to let the organization providing the grant know that you understand the organization’s purpose.

8 Things to Avoid When Writing a Small Business Grant Proposal

A. flowery language.

If your grant proposal is too confusing or too difficult to understand, it may have less of a chance of being accepted. Focus on conveying information in a clear, concise way and avoid giving it a lot of embellishments. The proposal should first address what impact the business will have on the surrounding community. Identify what the business aims to do, and make an outline of projected goals the business intends to accomplish.

b. Editing and proofreading mistakes

A simple error can wreak havoc on your proposal and may even cost you the grant because there are lots of other people applying for the same grant as you are. Special attention should be paid when reviewing the content of the proposal. A misplaced period or misspelled word can mean the end of a proposal’s consideration.

c. Beware of misplaced priorities

When writing your proposal, make sure you tailor our content correctly to what was demanded for by the grant organization. Asides that, your business’ outline needs to be specific and provide information on every step of the plan for growth and development. For instance, if the proposal focuses more on the existing problem than the solution the business will provide, it may not pass muster.

d. Accounting fails

Budget and accounting are other things that may prevent your grant from sailing through. Make sure all the accounting work is presented accurately and in a way that makes logical sense. Review your budget to make sure it tallies with the kind of business you are proposing. Make sure that you do not overask or underask because doing each would not make you successful. Just stick with the reality.

e. Eliminate jargon

Every industry has its own jargon and businesses are no different. However, use of these jargons will not convince your reviewer that you are smart or you are the most qualified candidate to receive the grant. As such, it is best to eliminate all internally used acronyms and jargon. Tell your story simply, from your heart.

f. Not paying attention to details

Some foundations can be very choosy. They may demand that your grant proposal must have a certain page length, page margins, typeface, et al., be sure to follow these specifications. Even if these minor details do not seem important to you as an individual, you should know that the grant makers have their reason for making such specifications and as such, you should respect them else you run the risk of having your application tossed into the trash. Don’t go to all that work just to have your proposal rejected because of logistics.

g. Waiting too long

A common mistake new entrepreneur’s make is waiting until the last minute to write and submit the proposal. Aim to finish the first draft three or four days before the deadline. This will allow plenty of time for proofreading. When submitting, make sure the proposal and application adhere to all guidelines set by the grant provider.

h. Sending unnecessary attachments

Most grant makers will tell you exactly what to send. Sending a lot more attachments that was demanded of you will not increase our chances of winning the grant. Again, it’s important to follow the rules. Grant makers are reading a lot of proposals, and they may view extraneous materials as an annoyance.

More on Business Grants

How to Write a Grant Proposal for a Small Business

Like a business plan, it is a challenge to complete a winning grant proposal, but if you are passionate about your business, then it is a small hurdle to overcome. Each grant is different in its requirements, but most of them ask for the same basic things as follows.

What is a Grant Proposal?

A grant proposal is a formal written request that someone, typically a potential donor willing to give grant money to an organization or cause based on merit, gives you financial assistance. There are many kinds of small business grants: for social service organizations by local and state government agencies and private organizations, for research projects and public health initiatives, and even for business ventures.  

Steps To Write a Grant Proposal for Small Business

Below are the steps to guide you through the process:

1. Research Grant Opportunities:

Start by researching available grant opportunities that align with your small business’s industry, goals, and needs. Look for grants from government agencies, non-profit organizations, and private foundations that support businesses like yours.

2. Read Guidelines and Requirements:

Once you’ve identified potential grants, thoroughly read and understand their guidelines and requirements. Each grant may have specific eligibility criteria, funding amounts, application formats, and deadlines.

3. Define Your Project or Business Need:

Clearly articulate the purpose of your grant proposal. Describe the project or business need that the grant will support and how it aligns with your company’s mission and objectives.

4. Craft a Compelling Executive Summary:

Write an engaging executive summary that succinctly summarizes your grant proposal. This section should highlight the most critical points of your project, emphasizing its significance and potential impact.

5. Outline Project Goals and Objectives:

Outline the specific goals and objectives of your project. Clearly state what you aim to achieve through the grant funding and how it will benefit your small business and the community.

6. Explain the Methodology:

Detail the methods and strategies you plan to use to accomplish your project goals. Provide a step-by-step explanation of how you will execute the project and measure its success.

7. Create a Budget:

Develop a detailed budget for your project, including all the expenses you anticipate. Be thorough and realistic in your estimates. Some grants may have specific budget formats that you must follow.

8. Demonstrate Sustainability:

Show how your small business plans to sustain the project’s impact beyond the grant period. Grant providers often look for initiatives that can continue making a difference even after the funding ends.

9. Include a Strong Organizational Profile:

Highlight your small business’s history, achievements, and expertise in the field. Demonstrate your business’s capability to successfully implement the proposed project.

10. Emphasize the Impact:

Clearly communicate the potential positive impact of your project on your small business, the community, or the industry. Use data and evidence to support your claims.

11. Review and Edit:

Go through your grant proposal multiple times to check for errors, consistency, and clarity. Consider having someone else review it as well to get a fresh perspective.

12. Submit the Proposal on Time:

Submit your grant proposal before the deadline. Late submissions are generally not accepted, so make sure you allow enough time for any unforeseen delays.

13. Follow Up:

After submitting the proposal, follow up with the grant provider if you don’t receive a response within the expected timeframe. Some grants may have a specific review process, and it’s essential to stay informed.

Why Write a Grant Proposal?

Grant funding can be a great way to get the money you need to start or expand your business. They are typically less restrictive than small business loans, and the application process is usually simpler. In addition, if your grant proposal is accepted, you may have access to other resources such as mentorship, networking opportunities, and workshops.

Who Can Apply For a Grant?

Not every cause will be eligible for grant funding. Applicants must meet the eligibility requirements outlined in the grant proposal guidelines, which means that they must fit into a certain category.

For example, an organization offering free job training to people who are physically or mentally disabled would be instantly eligible for grants by many granting agencies if it could prove its work ethic, validity, and financial stability. However, a new business start-up would not be as easily funded, since it is difficult to judge the potential success or failure of a company that has yet to go into operation.

What Are the Requirements?

Every grant proposal has different requirements, but most ask for the same basic information. These typically include:

• The organization’s history and mission
• What the grant money will be used for
• A detailed budget
• The impact the grant will have
• The organization’s financial stability
• A cover letter

It is important that your plan clearly states the specific purposes for which grant funds were requested, along with all the details about how they will be used and how much money will be required. Your proposal should also contain some personal information about yourself or your company, as well as your contact information.

What is the Grant Proposal Process?

• Your first step is to identify the grant you want to apply for and read the guidelines carefully.
• Gather all the necessary information – this will typically include your business plan, financial statements, resumes, and letters of recommendation.
• Complete the grant application and make sure you submit everything on time.
• Wait to hear back – if you are successful, congratulations! If not, don’t be discouraged and reapply the next year.

Types of Small Business Grants Available

There are many different types of grants that small businesses can apply for. The most common are federal grants, state grants, and local grants.

Federal Grants : These grants are awarded by the United States government to eligible organizations and individuals to support specific programs and projects. There are many different types of federal grants, and the application process is typically very competitive.

State Grants : State grants are awarded by state governments to eligible organizations and individuals to support specific programs and projects. The grant application process for state grants is typically less competitive than for grants from the federal government, but the awards are typically smaller in size.

Local Grants : Local grants are awarded by local governments to eligible organizations and individuals to support specific programs and projects. These grants typically have less stringent qualifications than federal or state grants, but the application process is typically more intensive due to the smaller number of available funds.

How Can I Find Grants for My Business?

There are many ways you can find grants for your business. The first step is to conduct an internet search for “grants for small businesses.” This will yield a variety of results, including government websites, private grant-making organizations, and online directories.

The next step is to identify which grants are best suited for your business. The most important factor to consider is the eligibility criteria of the grant. Each grant has its own set of qualifications, so take the time to review these guidelines carefully.

The final step is to complete and submit your grant application form before the deadline has passed. Although it may seem intimidating, completing a grant requires only a few hours of work and can have substantial benefits for your business down the road.

How to Write a Grant Letter for Small Business?

Although there is no set standard for a successful grant proposal, it usually includes a combination of all or most of the same elements. Here are some tips for writing a grant proposal for your nonprofit or small business.

To write an effective grant proposal, you should include the following elements:

Cover Letter

Table of contents, executive summary.

• Needs Statement & Problem Statement

Project Description

• Methods, Project Management Plans & Timelines

A good cover letter introduces the grantor to the business and extols its virtues about why the business is ideal for the grant. Make sure to cater to the specific grant and not speak in generalities as if you are applying to every financing source under the sun (even if you are).

This section helps the grantor flip right through to the specific section he wants to see. Make the grantor’s life easier and display your professionalism and courtesy at the same time. Our non-profit business plan template includes each of the items to include in your Table of Contents.

The executive summary of a document summarizes the rest of it. In this document, you should pinpoint the main reasons the grant is needed and how it will solve the problems of the grantee. The amount of small business funding, as well as information about the venture, should also be listed. Use this part of the document to convince the grantor that funding your business is the greatest idea ever and they’ll continue reading the rest of the proposal.

Needs Statement & Problem Statement

In this section of the document, detail the needs and problems that the project or venture is fulfilling and solving. Conduct research and show that you have done your homework. Answer key questions: What is the scope of the problem? What will your business do that someone hasn’t or can’t easily do in the future? Show that you fill a void in the market and that you need the grant to do so. Be concise and to the point.

The project description section is the main section of the small business grant proposal. This section is written best by separating different issues and ideas into separate sections. This will make it easier for you to write the section by focusing on one idea at a time and make it easier on the reader as well since the section won’t jump all over the place.

Goals & Objectives

The project goals section doesn’t list anything in intense detail but gives the reader an idea of what the potential grantee is trying to achieve.

The objectives section includes measurable aspirations of the venture such as achieving a hold of a certain percentage of the estimated market. Break down objectives in a bulleted list so it’s easier to read.

Methods, Project Management Plans, & Timelines

This section will show the reader how objectives will be achieved. The methods, plans, and timeline of implementation for those methods and plans will also be shown. Visual timelines are best to show the reader exactly where everything fits into the scheme of things as well as when. This section shows the reader you not only have goals and objectives but that you also know how to achieve them using a detailed well thought out plan.

Many government grants will have stringent personnel requirements because they want you to create employment with the money that they are giving you. If the grant needs specific information or provisions regarding personnel, make sure your personnel planning matches those requirements. Also, make sure that your objectives match personnel planning. Aggressive objectives might have to be matched with substantial growth in employment in certain industries.

The process of writing a grant proposal can seem daunting, but with careful preparation and organization, it can be a relatively easy task. By following these simple steps, you can increase your chances of being awarded the grant money you need to help your small business grow.  

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• Sources of Business Finance
• Small Business Loans
• Small Business Grants
• Crowdfunding Sites
• How to Get a Business Loan
• Small Business Insurance Providers
• Best Factoring Companies
• Types of Bank Accounts
• Best Banks for Small Business
• Best Business Bank Accounts
• Open a Business Bank Account
• Bank Accounts for Small Businesses
• Free Business Checking Accounts
• Best Business Credit Cards
• Get a Business Credit Card
• Business Credit Cards for Bad Credit
• Build Business Credit Fast
• Business Loan Eligibility Criteria
• Small-Business Bookkeeping Basics
• How to Set Financial Goals
• Business Loan Calculators
• How to Calculate ROI
• Calculate Net Income
• Calculate Working Capital
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• Calculate Net Present Value (NPV)
• Calculate Payroll Tax

How to Write a Business Plan in 9 Steps (+ Template and Examples)

Every successful business has one thing in common, a good and well-executed business plan. A business plan is more than a document, it is a complete guide that outlines the goals your business wants to achieve, including its financial goals . It helps you analyze results, make strategic decisions, show your business operations and growth.

If you want to start a business or already have one and need to pitch it to investors for funding, writing a good business plan improves your chances of attracting financiers. As a startup, if you want to secure loans from financial institutions, part of the requirements involve submitting your business plan.

Writing a business plan does not have to be a complicated or time-consuming process. In this article, you will learn the step-by-step process for writing a successful business plan.

You will also learn what you need a business plan for, tips and strategies for writing a convincing business plan, business plan examples and templates that will save you tons of time, and the alternatives to the traditional business plan.

Let’s get started.

What Do You Need A Business Plan For?

Businesses create business plans for different purposes such as to secure funds, monitor business growth, measure your marketing strategies, and measure your business success.

1. Secure Funds

One of the primary reasons for writing a business plan is to secure funds, either from financial institutions/agencies or investors.

For you to effectively acquire funds, your business plan must contain the key elements of your business plan . For example, your business plan should include your growth plans, goals you want to achieve, and milestones you have recorded.

A business plan can also attract new business partners that are willing to contribute financially and intellectually. If you are writing a business plan to a bank, your project must show your traction , that is, the proof that you can pay back any loan borrowed.

Also, if you are writing to an investor, your plan must contain evidence that you can effectively utilize the funds you want them to invest in your business. Here, you are using your business plan to persuade a group or an individual that your business is a source of a good investment.

2. Monitor Business Growth

A business plan can help you track cash flows in your business. It steers your business to greater heights. A business plan capable of tracking business growth should contain:

• The business goals
• Methods to achieve the goals
• Time-frame for attaining those goals

A good business plan should guide you through every step in achieving your goals. It can also track the allocation of assets to every aspect of the business. You can tell when you are spending more than you should on a project.

You can compare a business plan to a written GPS. It helps you manage your business and hints at the right time to expand your business.

3. Measure Business Success

A business plan can help you measure your business success rate. Some small-scale businesses are thriving better than more prominent companies because of their track record of success.

Right from the onset of your business operation, set goals and work towards them. Write a plan to guide you through your procedures. Use your plan to measure how much you have achieved and how much is left to attain.

You can also weigh your success by monitoring the position of your brand relative to competitors. On the other hand, a business plan can also show you why you have not achieved a goal. It can tell if you have elapsed the time frame you set to attain a goal.

4. Document Your Marketing Strategies

You can use a business plan to document your marketing plans. Every business should have an effective marketing plan.

Competition mandates every business owner to go the extraordinary mile to remain relevant in the market. Your business plan should contain your marketing strategies that work. You can measure the success rate of your marketing plans.

In your business plan, your marketing strategy must answer the questions:

• How do you want to reach your target audience?
• How do you plan to retain your customers?
• What is/are your pricing plans?
• What is your budget for marketing?

How to Write a Business Plan Step-by-Step

1. create your executive summary.

The executive summary is a snapshot of your business or a high-level overview of your business purposes and plans . Although the executive summary is the first section in your business plan, most people write it last. The length of the executive summary is not more than two pages.

Generally, there are nine sections in a business plan, the executive summary should condense essential ideas from the other eight sections.

A good executive summary should do the following:

• A Snapshot of Growth Potential. Briefly inform the reader about your company and why it will be successful)
• Contain your Mission Statement which explains what the main objective or focus of your business is.
• Product Description and Differentiation. Brief description of your products or services and why it is different from other solutions in the market.
• The Team. Basic information about your company’s leadership team and employees
• Business Concept. A solid description of what your business does.
• Target Market. The customers you plan to sell to.
• Marketing Strategy. Your plans on reaching and selling to your customers
• Current Financial State. Brief information about what revenue your business currently generates.
• Projected Financial State. Brief information about what you foresee your business revenue to be in the future.

The executive summary is the make-or-break section of your business plan. If your summary cannot in less than two pages cannot clearly describe how your business will solve a particular problem of your target audience and make a profit, your business plan is set on a faulty foundation.

Avoid using the executive summary to hype your business, instead, focus on helping the reader understand the what and how of your plan.

View the executive summary as an opportunity to introduce your vision for your company. You know your executive summary is powerful when it can answer these key questions:

• Who is your target audience?
• What sector or industry are you in?
• What are your products and services?
• What is the future of your industry?
• Is your company scaleable?
• Who are the owners and leaders of your company? What are their backgrounds and experience levels?
• What is the motivation for starting your company?
• What are the next steps?

Writing the executive summary last although it is the most important section of your business plan is an excellent idea. The reason why is because it is a high-level overview of your business plan. It is the section that determines whether potential investors and lenders will read further or not.

The executive summary can be a stand-alone document that covers everything in your business plan. It is not uncommon for investors to request only the executive summary when evaluating your business. If the information in the executive summary impresses them, they will ask for the complete business plan.

If you are writing your business plan for your planning purposes, you do not need to write the executive summary.

2. Add Your Company Overview

The company overview or description is the next section in your business plan after the executive summary. It describes what your business does.

Adding your company overview can be tricky especially when your business is still in the planning stages. Existing businesses can easily summarize their current operations but may encounter difficulties trying to explain what they plan to become.

Your company overview should contain the following:

• What products and services you will provide
• Geographical markets and locations your company have a presence
• What you need to run your business
• Who your target audience or customers are
• Who will service your customers
• Your company’s purpose, mission, and vision
• Information about your company’s founders
• Who the founders are
• Notable achievements of your company so far

When creating a company overview, you have to focus on three basics: identifying your industry, identifying your customer, and explaining the problem you solve.

If you are stuck when creating your company overview, try to answer some of these questions that pertain to you.

• Who are you targeting? (The answer is not everyone)
• What pain point does your product or service solve for your customers that they will be willing to spend money on resolving?
• How does your product or service overcome that pain point?
• Where is the location of your business?
• What products, equipment, and services do you need to run your business?
• How is your company’s product or service different from your competition in the eyes of your customers?
• How many employees do you need and what skills do you require them to have?

After answering some or all of these questions, you will get more than enough information you need to write your company overview or description section. When writing this section, describe what your company does for your customers.

The company description or overview section contains three elements: mission statement, history, and objectives.

• Mission Statement

The mission statement refers to the reason why your business or company is existing. It goes beyond what you do or sell, it is about the ‘why’. A good mission statement should be emotional and inspirational.

Your mission statement should follow the KISS rule (Keep It Simple, Stupid). For example, Shopify’s mission statement is “Make commerce better for everyone.”

When describing your company’s history, make it simple and avoid the temptation of tying it to a defensive narrative. Write it in the manner you would a profile. Your company’s history should include the following information:

• Founding Date
• Major Milestones
• Location(s)
• Flagship Products or Services
• Number of Employees
• Executive Leadership Roles

When you fill in this information, you use it to write one or two paragraphs about your company’s history.

Business Objectives

Your business objective must be SMART (specific, measurable, achievable, realistic, and time-bound.) Failure to clearly identify your business objectives does not inspire confidence and makes it hard for your team members to work towards a common purpose.

3. Perform Market and Competitive Analyses to Proof a Big Enough Business Opportunity

The third step in writing a business plan is the market and competitive analysis section. Every business, no matter the size, needs to perform comprehensive market and competitive analyses before it enters into a market.

Performing market and competitive analyses are critical for the success of your business. It helps you avoid entering the right market with the wrong product, or vice versa. Anyone reading your business plans, especially financiers and financial institutions will want to see proof that there is a big enough business opportunity you are targeting.

This section is where you describe the market and industry you want to operate in and show the big opportunities in the market that your business can leverage to make a profit. If you noticed any unique trends when doing your research, show them in this section.

Market analysis alone is not enough, you have to add competitive analysis to strengthen this section. There are already businesses in the industry or market, how do you plan to take a share of the market from them?

You have to clearly illustrate the competitive landscape in your business plan. Are there areas your competitors are doing well? Are there areas where they are not doing so well? Show it.

Make it clear in this section why you are moving into the industry and what weaknesses are present there that you plan to explain. How are your competitors going to react to your market entry? How do you plan to get customers? Do you plan on taking your competitors' competitors, tap into other sources for customers, or both?

Illustrate the competitive landscape as well. What are your competitors doing well and not so well?

Answering these questions and thoughts will aid your market and competitive analysis of the opportunities in your space. Depending on how sophisticated your industry is, or the expectations of your financiers, you may need to carry out a more comprehensive market and competitive analysis to prove that big business opportunity.

Instead of looking at the market and competitive analyses as one entity, separating them will make the research even more comprehensive.

Market Analysis

Market analysis, boarding speaking, refers to research a business carried out on its industry, market, and competitors. It helps businesses gain a good understanding of their target market and the outlook of their industry. Before starting a company, it is vital to carry out market research to find out if the market is viable.

The market analysis section is a key part of the business plan. It is the section where you identify who your best clients or customers are. You cannot omit this section, without it your business plan is incomplete.

A good market analysis will tell your readers how you fit into the existing market and what makes you stand out. This section requires in-depth research, it will probably be the most time-consuming part of the business plan to write.

• Market Research

To create a compelling market analysis that will win over investors and financial institutions, you have to carry out thorough market research . Your market research should be targeted at your primary target market for your products or services. Here is what you want to find out about your target market.

• Your target market’s needs or pain points
• The existing solutions for their pain points
• Geographic Location
• Demographics

The purpose of carrying out a marketing analysis is to get all the information you need to show that you have a solid and thorough understanding of your target audience.

Only after you have fully understood the people you plan to sell your products or services to, can you evaluate correctly if your target market will be interested in your products or services.

You can easily convince interested parties to invest in your business if you can show them you thoroughly understand the market and show them that there is a market for your products or services.

How to Quantify Your Target Market

One of the goals of your marketing research is to understand who your ideal customers are and their purchasing power. To quantify your target market, you have to determine the following:

• Your Potential Customers: They are the people you plan to target. For example, if you sell accounting software for small businesses , then anyone who runs an enterprise or large business is unlikely to be your customers. Also, individuals who do not have a business will most likely not be interested in your product.
• Total Households: If you are selling household products such as heating and air conditioning systems, determining the number of total households is more important than finding out the total population in the area you want to sell to. The logic is simple, people buy the product but it is the household that uses it.
• Median Income: You need to know the median income of your target market. If you target a market that cannot afford to buy your products and services, your business will not last long.
• Income by Demographics: If your potential customers belong to a certain age group or gender, determining income levels by demographics is necessary. For example, if you sell men's clothes, your target audience is men.

What Does a Good Market Analysis Entail?

Your business does not exist on its own, it can only flourish within an industry and alongside competitors. Market analysis takes into consideration your industry, target market, and competitors. Understanding these three entities will drastically improve your company’s chances of success.

You can view your market analysis as an examination of the market you want to break into and an education on the emerging trends and themes in that market. Good market analyses include the following:

• Industry Description. You find out about the history of your industry, the current and future market size, and who the largest players/companies are in your industry.
• Overview of Target Market. You research your target market and its characteristics. Who are you targeting? Note, it cannot be everyone, it has to be a specific group. You also have to find out all information possible about your customers that can help you understand how and why they make buying decisions.
• Size of Target Market: You need to know the size of your target market, how frequently they buy, and the expected quantity they buy so you do not risk overproducing and having lots of bad inventory. Researching the size of your target market will help you determine if it is big enough for sustained business or not.
• Growth Potential: Before picking a target market, you want to be sure there are lots of potential for future growth. You want to avoid going for an industry that is declining slowly or rapidly with almost zero growth potential.
• Market Share Potential: Does your business stand a good chance of taking a good share of the market?
• Market Pricing and Promotional Strategies: Your market analysis should give you an idea of the price point you can expect to charge for your products and services. Researching your target market will also give you ideas of pricing strategies you can implement to break into the market or to enjoy maximum profits.
• Potential Barriers to Entry: One of the biggest benefits of conducting market analysis is that it shows you every potential barrier to entry your business will likely encounter. It is a good idea to discuss potential barriers to entry such as changing technology. It informs readers of your business plan that you understand the market.
• Research on Competitors: You need to know the strengths and weaknesses of your competitors and how you can exploit them for the benefit of your business. Find patterns and trends among your competitors that make them successful, discover what works and what doesn’t, and see what you can do better.

The market analysis section is not just for talking about your target market, industry, and competitors. You also have to explain how your company can fill the hole you have identified in the market.

Here are some questions you can answer that can help you position your product or service in a positive light to your readers.

• Is your product or service of superior quality?
• What additional features do you offer that your competitors do not offer?
• Are you targeting a ‘new’ market?

Basically, your market analysis should include an analysis of what already exists in the market and an explanation of how your company fits into the market.

Competitive Analysis

In the competitive analysis section, y ou have to understand who your direct and indirect competitions are, and how successful they are in the marketplace. It is the section where you assess the strengths and weaknesses of your competitors, the advantage(s) they possess in the market and show the unique features or qualities that make you different from your competitors.

Many businesses do market analysis and competitive analysis together. However, to fully understand what the competitive analysis entails, it is essential to separate it from the market analysis.

Competitive analysis for your business can also include analysis on how to overcome barriers to entry in your target market.

The primary goal of conducting a competitive analysis is to distinguish your business from your competitors. A strong competitive analysis is essential if you want to convince potential funding sources to invest in your business. You have to show potential investors and lenders that your business has what it takes to compete in the marketplace successfully.

Competitive analysis will s how you what the strengths of your competition are and what they are doing to maintain that advantage.

When doing your competitive research, you first have to identify your competitor and then get all the information you can about them. The idea of spending time to identify your competitor and learn everything about them may seem daunting but it is well worth it.

Find answers to the following questions after you have identified who your competitors are.

• What are your successful competitors doing?
• Why is what they are doing working?
• Can your business do it better?
• What are the weaknesses of your successful competitors?
• What are they not doing well?
• Can your business turn its weaknesses into strengths?
• How good is your competitors’ customer service?
• Where do your competitors invest in advertising?
• What sales and pricing strategies are they using?
• What marketing strategies are they using?
• What kind of press coverage do they get?
• What are their customers saying about your competitors (both the positive and negative)?

If your competitors have a website, it is a good idea to visit their websites for more competitors’ research. Check their “About Us” page for more information.

If you are presenting your business plan to investors, you need to clearly distinguish yourself from your competitors. Investors can easily tell when you have not properly researched your competitors.

Take time to think about what unique qualities or features set you apart from your competitors. If you do not have any direct competition offering your product to the market, it does not mean you leave out the competitor analysis section blank. Instead research on other companies that are providing a similar product, or whose product is solving the problem your product solves.

The next step is to create a table listing the top competitors you want to include in your business plan. Ensure you list your business as the last and on the right. What you just created is known as the competitor analysis table.

Direct vs Indirect Competition

You cannot know if your product or service will be a fit for your target market if you have not understood your business and the competitive landscape.

There is no market you want to target where you will not encounter competition, even if your product is innovative. Including competitive analysis in your business plan is essential.

If you are entering an established market, you need to explain how you plan to differentiate your products from the available options in the market. Also, include a list of few companies that you view as your direct competitors The competition you face in an established market is your direct competition.

In situations where you are entering a market with no direct competition, it does not mean there is no competition there. Consider your indirect competition that offers substitutes for the products or services you offer.

For example, if you sell an innovative SaaS product, let us say a project management software , a company offering time management software is your indirect competition.

There is an easy way to find out who your indirect competitors are in the absence of no direct competitors. You simply have to research how your potential customers are solving the problems that your product or service seeks to solve. That is your direct competition.

Factors that Differentiate Your Business from the Competition

There are three main factors that any business can use to differentiate itself from its competition. They are cost leadership, product differentiation, and market segmentation.

1. Cost Leadership

A strategy you can impose to maximize your profits and gain an edge over your competitors. It involves offering lower prices than what the majority of your competitors are offering.

A common practice among businesses looking to enter into a market where there are dominant players is to use free trials or pricing to attract as many customers as possible to their offer.

2. Product Differentiation

Your product or service should have a unique selling proposition (USP) that your competitors do not have or do not stress in their marketing.

Part of the marketing strategy should involve making your products unique and different from your competitors. It does not have to be different from your competitors, it can be the addition to a feature or benefit that your competitors do not currently have.

3. Market Segmentation

As a new business seeking to break into an industry, you will gain more success from focusing on a specific niche or target market, and not the whole industry.

If your competitors are focused on a general need or target market, you can differentiate yourself from them by having a small and hyper-targeted audience. For example, if your competitors are selling men’s clothes in their online stores , you can sell hoodies for men.

4. Define Your Business and Management Structure

The next step in your business plan is your business and management structure. It is the section where you describe the legal structure of your business and the team running it.

Your business is only as good as the management team that runs it, while the management team can only strive when there is a proper business and management structure in place.

If your company is a sole proprietor or a limited liability company (LLC), a general or limited partnership, or a C or an S corporation, state it clearly in this section.

Use an organizational chart to show the management structure in your business. Clearly show who is in charge of what area in your company. It is where you show how each key manager or team leader’s unique experience can contribute immensely to the success of your company. You can also opt to add the resumes and CVs of the key players in your company.

The business and management structure section should show who the owner is, and other owners of the businesses (if the business has other owners). For businesses or companies with multiple owners, include the percent ownership of the various owners and clearly show the extent of each others’ involvement in the company.

Investors want to know who is behind the company and the team running it to determine if it has the right management to achieve its set goals.

Management Team

The management team section is where you show that you have the right team in place to successfully execute the business operations and ideas. Take time to create the management structure for your business. Think about all the important roles and responsibilities that you need managers for to grow your business.

Include brief bios of each key team member and ensure you highlight only the relevant information that is needed. If your team members have background industry experience or have held top positions for other companies and achieved success while filling that role, highlight it in this section.

A common mistake that many startups make is assigning C-level titles such as (CMO and CEO) to everyone on their team. It is unrealistic for a small business to have those titles. While it may look good on paper for the ego of your team members, it can prevent investors from investing in your business.

Instead of building an unrealistic management structure that does not fit your business reality, it is best to allow business titles to grow as the business grows. Starting everyone at the top leaves no room for future change or growth, which is bad for productivity.

Your management team does not have to be complete before you start writing your business plan. You can have a complete business plan even when there are managerial positions that are empty and need filling.

If you have management gaps in your team, simply show the gaps and indicate you are searching for the right candidates for the role(s). Investors do not expect you to have a full management team when you are just starting your business.

Key Questions to Answer When Structuring Your Management Team

• Who are the key leaders?
• What experiences, skills, and educational backgrounds do you expect your key leaders to have?
• Do your key leaders have industry experience?
• What positions will they fill and what duties will they perform in those positions?
• What level of authority do the key leaders have and what are their responsibilities?
• What is the salary for the various management positions that will attract the ideal candidates?

Additional Tips for Writing the Management Structure Section

1. Avoid Adding ‘Ghost’ Names to Your Management Team

There is always that temptation to include a ‘ghost’ name to your management team to attract and influence investors to invest in your business. Although the presence of these celebrity management team members may attract the attention of investors, it can cause your business to lose any credibility if you get found out.

Seasoned investors will investigate further the members of your management team before committing fully to your business If they find out that the celebrity name used does not play any actual role in your business, they will not invest and may write you off as dishonest.

2. Focus on Credentials But Pay Extra Attention to the Roles

Investors want to know the experience that your key team members have to determine if they can successfully reach the company’s growth and financial goals.

While it is an excellent boost for your key management team to have the right credentials, you also want to pay extra attention to the roles they will play in your company.

Organizational Chart

Adding an organizational chart in this section of your business plan is not necessary, you can do it in your business plan’s appendix.

If you are exploring funding options, it is not uncommon to get asked for your organizational chart. The function of an organizational chart goes beyond raising money, you can also use it as a useful planning tool for your business.

An organizational chart can help you identify how best to structure your management team for maximum productivity and point you towards key roles you need to fill in the future.

You can use the organizational chart to show your company’s internal management structure such as the roles and responsibilities of your management team, and relationships that exist between them.

5. Describe Your Product and Service Offering

In your business plan, you have to describe what you sell or the service you plan to offer. It is the next step after defining your business and management structure. The products and services section is where you sell the benefits of your business.

Here you have to explain how your product or service will benefit your customers and describe your product lifecycle. It is also the section where you write down your plans for intellectual property like patent filings and copyrighting.

The research and development that you are undertaking for your product or service need to be explained in detail in this section. However, do not get too technical, sell the general idea and its benefits.

If you have any diagrams or intricate designs of your product or service, do not include them in the products and services section. Instead, leave them for the addendum page. Also, if you are leaving out diagrams or designs for the addendum, ensure you add this phrase “For more detail, visit the addendum Page #.”

Your product and service section in your business plan should include the following:

• A detailed explanation that clearly shows how your product or service works.
• The pricing model for your product or service.
• Your business’ sales and distribution strategy.
• The ideal customers that want your product or service.
• The benefits of your products and services.
• Reason(s) why your product or service is a better alternative to what your competitors are currently offering in the market.
• Plans for filling the orders you receive
• If you have current or pending patents, copyrights, and trademarks for your product or service, you can also discuss them in this section.

What to Focus On When Describing the Benefits, Lifecycle, and Production Process of Your Products or Services

In the products and services section, you have to distill the benefits, lifecycle, and production process of your products and services.

When describing the benefits of your products or services, here are some key factors to focus on.

• Unique features
• Translating the unique features into benefits
• The emotional, psychological, and practical payoffs to attract customers
• Intellectual property rights or any patents

When describing the product life cycle of your products or services, here are some key factors to focus on.

• Upsells, cross-sells, and down-sells
• Time between purchases
• Plans for research and development.

When describing the production process for your products or services, you need to think about the following:

• The creation of new or existing products and services.
• The sources for the raw materials or components you need for production.
• Assembling the products
• Maintaining quality control
• Supply-chain logistics (receiving the raw materials and delivering the finished products)
• The day-to-day management of the production processes, bookkeeping, and inventory.

Tips for Writing the Products or Services Section of Your Business Plan

1. Avoid Technical Descriptions and Industry Buzzwords

The products and services section of your business plan should clearly describe the products and services that your company provides. However, it is not a section to include technical jargons that anyone outside your industry will not understand.

A good practice is to remove highly detailed or technical descriptions in favor of simple terms. Industry buzzwords are not necessary, if there are simpler terms you can use, then use them. If you plan to use your business plan to source funds, making the product or service section so technical will do you no favors.

2. Describe How Your Products or Services Differ from Your Competitors

When potential investors look at your business plan, they want to know how the products and services you are offering differ from that of your competition. Differentiating your products or services from your competition in a way that makes your solution more attractive is critical.

If you are going the innovative path and there is no market currently for your product or service, you need to describe in this section why the market needs your product or service.

For example, overnight delivery was a niche business that only a few companies were participating in. Federal Express (FedEx) had to show in its business plan that there was a large opportunity for that service and they justified why the market needed that service.

3. Long or Short Products or Services Section

Should your products or services section be short? Does the long products or services section attract more investors?

There are no straightforward answers to these questions. Whether your products or services section should be long or relatively short depends on the nature of your business.

If your business is product-focused, then automatically you need to use more space to describe the details of your products. However, if the product your business sells is a commodity item that relies on competitive pricing or other pricing strategies, you do not have to use up so much space to provide significant details about the product.

Likewise, if you are selling a commodity that is available in numerous outlets, then you do not have to spend time on writing a long products or services section.

The key to the success of your business is most likely the effectiveness of your marketing strategies compared to your competitors. Use more space to address that section.

If you are creating a new product or service that the market does not know about, your products or services section can be lengthy. The reason why is because you need to explain everything about the product or service such as the nature of the product, its use case, and values.

A short products or services section for an innovative product or service will not give the readers enough information to properly evaluate your business.

4. Describe Your Relationships with Vendors or Suppliers

Your business will rely on vendors or suppliers to supply raw materials or the components needed to make your products. In your products and services section, describe your relationships with your vendors and suppliers fully.

Avoid the mistake of relying on only one supplier or vendor. If that supplier or vendor fails to supply or goes out of business, you can easily face supply problems and struggle to meet your demands. Plan to set up multiple vendor or supplier relationships for better business stability.

5. Your Primary Goal Is to Convince Your Readers

The primary goal of your business plan is to convince your readers that your business is viable and to create a guide for your business to follow. It applies to the products and services section.

When drafting this section, think like the reader. See your reader as someone who has no idea about your products and services. You are using the products and services section to provide the needed information to help your reader understand your products and services. As a result, you have to be clear and to the point.

While you want to educate your readers about your products or services, you also do not want to bore them with lots of technical details. Show your products and services and not your fancy choice of words.

Your products and services section should provide the answer to the “what” question for your business. You and your management team may run the business, but it is your products and services that are the lifeblood of the business.

Key Questions to Answer When Writing your Products and Services Section

Answering these questions can help you write your products and services section quickly and in a way that will appeal to your readers.

• Are your products existing on the market or are they still in the development stage?
• What is your timeline for adding new products and services to the market?
• What are the positives that make your products and services different from your competitors?
• Do your products and services have any competitive advantage that your competitors’ products and services do not currently have?
• Do your products or services have any competitive disadvantages that you need to overcome to compete with your competitors? If your answer is yes, state how you plan to overcome them,
• How much does it cost to produce your products or services? How much do you plan to sell it for?
• What is the price for your products and services compared to your competitors? Is pricing an issue?
• What are your operating costs and will it be low enough for you to compete with your competitors and still take home a reasonable profit margin?
• What is your plan for acquiring your products? Are you involved in the production of your products or services?
• Are you the manufacturer and produce all the components you need to create your products? Do you assemble your products by using components supplied by other manufacturers? Do you purchase your products directly from suppliers or wholesalers?
• Do you have a steady supply of products that you need to start your business? (If your business is yet to kick-off)
• How do you plan to distribute your products or services to the market?

You can also hint at the marketing or promotion plans you have for your products or services such as how you plan to build awareness or retain customers. The next section is where you can go fully into details about your business’s marketing and sales plan.

6. Show and Explain Your Marketing and Sales Plan

Providing great products and services is wonderful, but it means nothing if you do not have a marketing and sales plan to inform your customers about them. Your marketing and sales plan is critical to the success of your business.

The sales and marketing section is where you show and offer a detailed explanation of your marketing and sales plan and how you plan to execute it. It covers your pricing plan, proposed advertising and promotion activities, activities and partnerships you need to make your business a success, and the benefits of your products and services.

There are several ways you can approach your marketing and sales strategy. Ideally, your marketing and sales strategy has to fit the unique needs of your business.

In this section, you describe how the plans your business has for attracting and retaining customers, and the exact process for making a sale happen. It is essential to thoroughly describe your complete marketing and sales plans because you are still going to reference this section when you are making financial projections for your business.

Outline Your Business’ Unique Selling Proposition (USP)

The sales and marketing section is where you outline your business’s unique selling proposition (USP). When you are developing your unique selling proposition, think about the strongest reasons why people should buy from you over your competition. That reason(s) is most likely a good fit to serve as your unique selling proposition (USP).

Target Market and Target Audience

Plans on how to get your products or services to your target market and how to get your target audience to buy them go into this section. You also highlight the strengths of your business here, particularly what sets them apart from your competition.

Before you start writing your marketing and sales plan, you need to have properly defined your target audience and fleshed out your buyer persona. If you do not first understand the individual you are marketing to, your marketing and sales plan will lack any substance and easily fall.

Creating a Smart Marketing and Sales Plan

Marketing your products and services is an investment that requires you to spend money. Like any other investment, you have to generate a good return on investment (ROI) to justify using that marketing and sales plan. Good marketing and sales plans bring in high sales and profits to your company.

Avoid spending money on unproductive marketing channels. Do your research and find out the best marketing and sales plan that works best for your company.

Your marketing and sales plan can be broken into different parts: your positioning statement, pricing, promotion, packaging, advertising, public relations, content marketing, social media, and strategic alliances.

Your Positioning Statement

Your positioning statement is the first part of your marketing and sales plan. It refers to the way you present your company to your customers.

Are you the premium solution, the low-price solution, or are you the intermediary between the two extremes in the market? What do you offer that your competitors do not that can give you leverage in the market?

Before you start writing your positioning statement, you need to spend some time evaluating the current market conditions. Here are some questions that can help you to evaluate the market

• What are the unique features or benefits that you offer that your competitors lack?
• What are your customers’ primary needs and wants?
• Why should a customer choose you over your competition? How do you plan to differentiate yourself from the competition?
• How does your company’s solution compare with other solutions in the market?

After answering these questions, then you can start writing your positioning statement. Your positioning statement does not have to be in-depth or too long.

All you need to explain with your positioning statement are two focus areas. The first is the position of your company within the competitive landscape. The other focus area is the core value proposition that sets your company apart from other alternatives that your ideal customer might consider.

Here is a simple template you can use to develop a positioning statement.

For [description of target market] who [need of target market], [product or service] [how it meets the need]. Unlike [top competition], it [most essential distinguishing feature].

For example, let’s create the positioning statement for fictional accounting software and QuickBooks alternative , TBooks.

“For small business owners who need accounting services, TBooks is an accounting software that helps small businesses handle their small business bookkeeping basics quickly and easily. Unlike Wave, TBooks gives small businesses access to live sessions with top accountants.”

You can edit this positioning statement sample and fill it with your business details.

After writing your positioning statement, the next step is the pricing of your offerings. The overall positioning strategy you set in your positioning statement will often determine how you price your products or services.

Pricing is a powerful tool that sends a strong message to your customers. Failure to get your pricing strategy right can make or mar your business. If you are targeting a low-income audience, setting a premium price can result in low sales.

You can use pricing to communicate your positioning to your customers. For example, if you are offering a product at a premium price, you are sending a message to your customers that the product belongs to the premium category.

Basic Rules to Follow When Pricing Your Offering

Setting a price for your offering involves more than just putting a price tag on it. Deciding on the right pricing for your offering requires following some basic rules. They include covering your costs, primary and secondary profit center pricing, and matching the market rate.

• Covering Your Costs: The price you set for your products or service should be more than it costs you to produce and deliver them. Every business has the same goal, to make a profit. Depending on the strategy you want to use, there are exceptions to this rule. However, the vast majority of businesses follow this rule.
• Primary and Secondary Profit Center Pricing: When a company sets its price above the cost of production, it is making that product its primary profit center. A company can also decide not to make its initial price its primary profit center by selling below or at even with its production cost. It rather depends on the support product or even maintenance that is associated with the initial purchase to make its profit. The initial price thus became its secondary profit center.
• Matching the Market Rate: A good rule to follow when pricing your products or services is to match your pricing with consumer demand and expectations. If you price your products or services beyond the price your customer perceives as the ideal price range, you may end up with no customers. Pricing your products too low below what your customer perceives as the ideal price range may lead to them undervaluing your offering.

Pricing Strategy

Your pricing strategy influences the price of your offering. There are several pricing strategies available for you to choose from when examining the right pricing strategy for your business. They include cost-plus pricing, market-based pricing, value pricing, and more.

• Cost-plus Pricing: This strategy is one of the simplest and oldest pricing strategies. Here you consider the cost of producing a unit of your product and then add a profit to it to arrive at your market price. It is an effective pricing strategy for manufacturers because it helps them cover their initial costs. Another name for the cost-plus pricing strategy is the markup pricing strategy.
• Market-based Pricing: This pricing strategy analyses the market including competitors’ pricing and then sets a price based on what the market is expecting. With this pricing strategy, you can either set your price at the low-end or high-end of the market.
• Value Pricing: This pricing strategy involves setting a price based on the value you are providing to your customer. When adopting a value-based pricing strategy, you have to set a price that your customers are willing to pay. Service-based businesses such as small business insurance providers , luxury goods sellers, and the fashion industry use this pricing strategy.

After carefully sorting out your positioning statement and pricing, the next item to look at is your promotional strategy. Your promotional strategy explains how you plan on communicating with your customers and prospects.

As a business, you must measure all your costs, including the cost of your promotions. You also want to measure how much sales your promotions bring for your business to determine its usefulness. Promotional strategies or programs that do not lead to profit need to be removed.

There are different types of promotional strategies you can adopt for your business, they include advertising, public relations, and content marketing.

Advertising

Your business plan should include your advertising plan which can be found in the marketing and sales plan section. You need to include an overview of your advertising plans such as the areas you plan to spend money on to advertise your business and offers.

Ensure that you make it clear in this section if your business will be advertising online or using the more traditional offline media, or the combination of both online and offline media. You can also include the advertising medium you want to use to raise awareness about your business and offers.

Some common online advertising mediums you can use include social media ads, landing pages, sales pages, SEO, Pay-Per-Click, emails, Google Ads, and others. Some common traditional and offline advertising mediums include word of mouth, radios, direct mail, televisions, flyers, billboards, posters, and others.

A key component of your advertising strategy is how you plan to measure the effectiveness and success of your advertising campaign. There is no point in sticking with an advertising plan or medium that does not produce results for your business in the long run.

Public Relations

A great way to reach your customers is to get the media to cover your business or product. Publicity, especially good ones, should be a part of your marketing and sales plan. In this section, show your plans for getting prominent reviews of your product from reputable publications and sources.

Your business needs that exposure to grow. If public relations is a crucial part of your promotional strategy, provide details about your public relations plan here.

Content Marketing

Content marketing is a popular promotional strategy used by businesses to inform and attract their customers. It is about teaching and educating your prospects on various topics of interest in your niche, it does not just involve informing them about the benefits and features of the products and services you have,

Businesses publish content usually for free where they provide useful information, tips, and advice so that their target market can be made aware of the importance of their products and services. Content marketing strategies seek to nurture prospects into buyers over time by simply providing value.

Your company can create a blog where it will be publishing content for its target market. You will need to use the best website builder such as Wix and Squarespace and the best web hosting services such as Bluehost, Hostinger, and other Bluehost alternatives to create a functional blog or website.

If content marketing is a crucial part of your promotional strategy (as it should be), detail your plans under promotions.

Including high-quality images of the packaging of your product in your business plan is a lovely idea. You can add the images of the packaging of that product in the marketing and sales plan section. If you are not selling a product, then you do not need to include any worry about the physical packaging of your product.

When organizing the packaging section of your business plan, you can answer the following questions to make maximum use of this section.

• Is your choice of packaging consistent with your positioning strategy?
• What key value proposition does your packaging communicate? (It should reflect the key value proposition of your business)
• How does your packaging compare to that of your competitors?

Social Media

Your 21st-century business needs to have a good social media presence. Not having one is leaving out opportunities for growth and reaching out to your prospect.

You do not have to join the thousands of social media platforms out there. What you need to do is join the ones that your customers are active on and be active there.

Businesses use social media to provide information about their products such as promotions, discounts, the benefits of their products, and content on their blogs.

Social media is also a platform for engaging with your customers and getting feedback about your products or services. Make no mistake, more and more of your prospects are using social media channels to find more information about companies.

You need to consider the social media channels you want to prioritize your business (prioritize the ones your customers are active in) and your branding plans in this section.

Strategic Alliances

If your company plans to work closely with other companies as part of your sales and marketing plan, include it in this section. Prove details about those partnerships in your business plan if you have already established them.

Strategic alliances can be beneficial for all parties involved including your company. Working closely with another company in the form of a partnership can provide access to a different target market segment for your company.

The company you are partnering with may also gain access to your target market or simply offer a new product or service (that of your company) to its customers.

Mutually beneficial partnerships can cover the weaknesses of one company with the strength of another. You should consider strategic alliances with companies that sell complimentary products to yours. For example, if you provide printers, you can partner with a company that produces ink since the customers that buy printers from you will also need inks for printing.

Steps Involved in Creating a Marketing and Sales Plan

1. Focus on Your Target Market

Identify who your customers are, the market you want to target. Then determine the best ways to get your products or services to your potential customers.

2. Evaluate Your Competition

One of the goals of having a marketing plan is to distinguish yourself from your competition. You cannot stand out from them without first knowing them in and out.

You can know your competitors by gathering information about their products, pricing, service, and advertising campaigns.

These questions can help you know your competition.

• What makes your competition successful?
• What are their weaknesses?
• What are customers saying about your competition?

3. Consider Your Brand

Customers' perception of your brand has a strong impact on your sales. Your marketing and sales plan should seek to bolster the image of your brand. Before you start marketing your business, think about the message you want to pass across about your business and your products and services.

4. Focus on Benefits

The majority of your customers do not view your product in terms of features, what they want to know is the benefits and solutions your product offers. Think about the problems your product solves and the benefits it delivers, and use it to create the right sales and marketing message.

Your marketing plan should focus on what you want your customer to get instead of what you provide. Identify those benefits in your marketing and sales plan.

5. Focus on Differentiation

Your marketing and sales plan should look for a unique angle they can take that differentiates your business from the competition, even if the products offered are similar. Some good areas of differentiation you can use are your benefits, pricing, and features.

Key Questions to Answer When Writing Your Marketing and Sales Plan

• What is your company’s budget for sales and marketing campaigns?
• What key metrics will you use to determine if your marketing plans are successful?
• What are your alternatives if your initial marketing efforts do not succeed?
• Who are the sales representatives you need to promote your products or services?
• What are the marketing and sales channels you plan to use? How do you plan to get your products in front of your ideal customers?
• Where will you sell your products?

You may want to include samples of marketing materials you plan to use such as print ads, website descriptions, and social media ads. While it is not compulsory to include these samples, it can help you better communicate your marketing and sales plan and objectives.

The purpose of the marketing and sales section is to answer this question “How will you reach your customers?” If you cannot convincingly provide an answer to this question, you need to rework your marketing and sales section.

7. Clearly Show Your Funding Request

If you are writing your business plan to ask for funding from investors or financial institutions, the funding request section is where you will outline your funding requirements. The funding request section should answer the question ‘How much money will your business need in the near future (3 to 5 years)?’

A good funding request section will clearly outline and explain the amount of funding your business needs over the next five years. You need to know the amount of money your business needs to make an accurate funding request.

Also, when writing your funding request, provide details of how the funds will be used over the period. Specify if you want to use the funds to buy raw materials or machinery, pay salaries, pay for advertisements, and cover specific bills such as rent and electricity.

In addition to explaining what you want to use the funds requested for, you need to clearly state the projected return on investment (ROI) . Investors and creditors want to know if your business can generate profit for them if they put funds into it.

Ensure you do not inflate the figures and stay as realistic as possible. Investors and financial institutions you are seeking funds from will do their research before investing money in your business.

If you are not sure of an exact number to request from, you can use some range of numbers as rough estimates. Add a best-case scenario and a work-case scenario to your funding request. Also, include a description of your strategic future financial plans such as selling your business or paying off debts.

Funding Request: Debt or Equity?

When making your funding request, specify the type of funding you want. Do you want debt or equity? Draw out the terms that will be applicable for the funding, and the length of time the funding request will cover.

Case for Equity

If your new business has not yet started generating profits, you are most likely preparing to sell equity in your business to raise capital at the early stage. Equity here refers to ownership. In this case, you are selling a portion of your company to raise capital.

Although this method of raising capital for your business does not put your business in debt, keep in mind that an equity owner may expect to play a key role in company decisions even if he does not hold a major stake in the company.

Most equity sales for startups are usually private transactions . If you are making a funding request by offering equity in exchange for funding, let the investor know that they will be paid a dividend (a share of the company’s profit). Also, let the investor know the process for selling their equity in your business.

Case for Debt

You may decide not to offer equity in exchange for funds, instead, you make a funding request with the promise to pay back the money borrowed at the agreed time frame.

When making a funding request with an agreement to pay back, note that you will have to repay your creditors both the principal amount borrowed and the interest on it. Financial institutions offer this type of funding for businesses.

Large companies combine both equity and debt in their capital structure. When drafting your business plan, decide if you want to offer both or one over the other.

Before you sell equity in exchange for funding in your business, consider if you are willing to accept not being in total control of your business. Also, before you seek loans in your funding request section, ensure that the terms of repayment are favorable.

You should set a clear timeline in your funding request so that potential investors and creditors can know what you are expecting. Some investors and creditors may agree to your funding request and then delay payment for longer than 30 days, meanwhile, your business needs an immediate cash injection to operate efficiently.

Additional Tips for Writing the Funding Request Section of your Business Plan

The funding request section is not necessary for every business, it is only needed by businesses who plan to use their business plan to secure funding.

If you are adding the funding request section to your business plan, provide an itemized summary of how you plan to use the funds requested. Hiring a lawyer, accountant, or other professionals may be necessary for the proper development of this section.

You should also gather and use financial statements that add credibility and support to your funding requests. Ensure that the financial statements you use should include your projected financial data such as projected cash flows, forecast statements, and expenditure budgets.

If you are an existing business, include all historical financial statements such as cash flow statements, balance sheets and income statements .

Provide monthly and quarterly financial statements for a year. If your business has records that date back beyond the one-year mark, add the yearly statements of those years. These documents are for the appendix section of your business plan.

8. Detail Your Financial Plan, Metrics, and Projections

If you used the funding request section in your business plan, supplement it with a financial plan, metrics, and projections. This section paints a picture of the past performance of your business and then goes ahead to make an informed projection about its future.

The goal of this section is to convince readers that your business is going to be a financial success. It outlines your business plan to generate enough profit to repay the loan (with interest if applicable) and to generate a decent return on investment for investors.

If you have an existing business already in operation, use this section to demonstrate stability through finance. This section should include your cash flow statements, balance sheets, and income statements covering the last three to five years. If your business has some acceptable collateral that you can use to acquire loans, list it in the financial plan, metrics, and projection section.

Apart from current financial statements, this section should also contain a prospective financial outlook that spans the next five years. Include forecasted income statements, cash flow statements, balance sheets, and capital expenditure budget.

If your business is new and is not yet generating profit, use clear and realistic projections to show the potentials of your business.

When drafting this section, research industry norms and the performance of comparable businesses. Your financial projections should cover at least five years. State the logic behind your financial projections. Remember you can always make adjustments to this section as the variables change.

The financial plan, metrics, and projection section create a baseline which your business can either exceed or fail to reach. If your business fails to reach your projections in this section, you need to understand why it failed.

Investors and loan managers spend a lot of time going through the financial plan, metrics, and projection section compared to other parts of the business plan. Ensure you spend time creating credible financial analyses for your business in this section.

Many entrepreneurs find this section daunting to write. You do not need a business degree to create a solid financial forecast for your business. Business finances, especially for startups, are not as complicated as they seem. There are several online tools and templates that make writing this section so much easier.

Use Graphs and Charts

The financial plan, metrics, and projection section is a great place to use graphs and charts to tell the financial story of your business. Charts and images make it easier to communicate your finances.

Accuracy in this section is key, ensure you carefully analyze your past financial statements properly before making financial projects.

Address the Risk Factors and Show Realistic Financial Projections

Keep your financial plan, metrics, and projection realistic. It is okay to be optimistic in your financial projection, however, you have to justify it.

You should also address the various risk factors associated with your business in this section. Investors want to know the potential risks involved, show them. You should also show your plans for mitigating those risks.

What You Should In The Financial Plan, Metrics, and Projection Section of Your Business Plan

The financial plan, metrics, and projection section of your business plan should have monthly sales and revenue forecasts for the first year. It should also include annual projections that cover 3 to 5 years.

A three-year projection is a basic requirement to have in your business plan. However, some investors may request a five-year forecast.

Your business plan should include the following financial statements: sales forecast, personnel plan, income statement, income statement, cash flow statement, balance sheet, and an exit strategy.

1. Sales Forecast

Sales forecast refers to your projections about the number of sales your business is going to record over the next few years. It is typically broken into several rows, with each row assigned to a core product or service that your business is offering.

One common mistake people make in their business plan is to break down the sales forecast section into long details. A sales forecast should forecast the high-level details.

For example, if you are forecasting sales for a payroll software provider, you could break down your forecast into target market segments or subscription categories.

Your sales forecast section should also have a corresponding row for each sales row to cover the direct cost or Cost of Goods Sold (COGS). The objective of these rows is to show the expenses that your business incurs in making and delivering your product or service.

Note that your Cost of Goods Sold (COGS) should only cover those direct costs incurred when making your products. Other indirect expenses such as insurance, salaries, payroll tax, and rent should not be included.

For example, the Cost of Goods Sold (COGS) for a restaurant is the cost of ingredients while for a consulting company it will be the cost of paper and other presentation materials.

2. Personnel Plan

The personnel plan section is where you provide details about the payment plan for your employees. For a small business, you can easily list every position in your company and how much you plan to pay in the personnel plan.

However, for larger businesses, you have to break the personnel plan into functional groups such as sales and marketing.

The personnel plan will also include the cost of an employee beyond salary, commonly referred to as the employee burden. These costs include insurance, payroll taxes , and other essential costs incurred monthly as a result of having employees on your payroll.

3. Income Statement

The income statement section shows if your business is making a profit or taking a loss. Another name for the income statement is the profit and loss (P&L). It takes data from your sales forecast and personnel plan and adds other ongoing expenses you incur while running your business.

Every business plan should have an income statement. It subtracts your business expenses from its earnings to show if your business is generating profit or incurring losses.

The income statement has the following items: sales, Cost of Goods Sold (COGS), gross margin, operating expenses, total operating expenses, operating income , total expenses, and net profit.

• Sales refer to the revenue your business generates from selling its products or services. Other names for sales are income or revenue.
• Cost of Goods Sold (COGS) refers to the total cost of selling your products. Other names for COGS are direct costs or cost of sales. Manufacturing businesses use the Costs of Goods Manufactured (COGM) .
• Gross Margin is the figure you get when you subtract your COGS from your sales. In your income statement, you can express it as a percentage of total sales (Gross margin / Sales = Gross Margin Percent).
• Operating Expenses refer to all the expenses you incur from running your business. It exempts the COGS because it stands alone as a core part of your income statement. You also have to exclude taxes, depreciation, and amortization. Your operating expenses include salaries, marketing expenses, research and development (R&D) expenses, and other expenses.
• Total Operating Expenses refers to the sum of all your operating expenses including those exemptions named above under operating expenses.
• Operating Income refers to earnings before interest, taxes, depreciation, and amortization. It is simply known as the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization). Calculating your operating income is simple, all you need to do is to subtract your COGS and total operating expenses from your sales.
• Total Expenses refer to the sum of your operating expenses and your business’ interest, taxes, depreciation, and amortization.
• Net profit shows whether your business has made a profit or taken a loss during a given timeframe.

4. Cash Flow Statement

The cash flow statement tracks the money you have in the bank at any given point. It is often confused with the income statement or the profit and loss statement. They are both different types of financial statements. The income statement calculates your profits and losses while the cash flow statement shows you how much you have in the bank.

5. Balance Sheet

The balance sheet is a financial statement that provides an overview of the financial health of your business. It contains information about the assets and liabilities of your company, and owner’s or shareholders’ equity.

You can get the net worth of your company by subtracting your company’s liabilities from its assets.

6. Exit Strategy

The exit strategy refers to a probable plan for selling your business either to the public in an IPO or to another company. It is the last thing you include in the financial plan, metrics, and projection section.

You can choose to omit the exit strategy from your business plan if you plan to maintain full ownership of your business and do not plan on seeking angel investment or virtual capitalist (VC) funding.

Investors may want to know what your exit plan is. They invest in your business to get a good return on investment.

Your exit strategy does not have to include long and boring details. Ensure you identify some interested parties who may be interested in buying the company if it becomes a success.

Key Questions to Answer with Your Financial Plan, Metrics, and Projection

Your financial plan, metrics, and projection section helps investors, creditors, or your internal managers to understand what your expenses are, the amount of cash you need, and what it takes to make your company profitable. It also shows what you will be doing with any funding.

You do not need to show actual financial data if you do not have one. Adding forecasts and projections to your financial statements is added proof that your strategy is feasible and shows investors you have planned properly.

Here are some key questions to answer to help you develop this section.

• What is your sales forecast for the next year?
• When will your company achieve a positive cash flow?
• What are the core expenses you need to operate?
• How much money do you need upfront to operate or grow your company?
• How will you use the loans or investments?

9. Add an Appendix to Your Business Plan

Adding an appendix to your business plan is optional. It is a useful place to put any charts, tables, legal notes, definitions, permits, résumés, and other critical information that do not fit into other sections of your business plan.

The appendix section is where you would want to include details of a patent or patent-pending if you have one. You can always add illustrations or images of your products here. It is the last section of your business plan.

When writing your business plan, there are details you cut short or remove to prevent the entire section from becoming too lengthy. There are also details you want to include in the business plan but are not a good fit for any of the previous sections. You can add that additional information to the appendix section.

Businesses also use the appendix section to include supporting documents or other materials specially requested by investors or lenders.

You can include just about any information that supports the assumptions and statements you made in the business plan under the appendix. It is the one place in the business plan where unrelated data and information can coexist amicably.

If your appendix section is lengthy, try organizing it by adding a table of contents at the beginning of the appendix section. It is also advisable to group similar information to make it easier for the reader to access them.

A well-organized appendix section makes it easier to share your information clearly and concisely. Add footnotes throughout the rest of the business plan or make references in the plan to the documents in the appendix.

The appendix section is usually only necessary if you are seeking funding from investors or lenders, or hoping to attract partners.

People reading business plans do not want to spend time going through a heap of backup information, numbers, and charts. Keep these documents or information in the Appendix section in case the reader wants to dig deeper.

Common Items to Include in the Appendix Section of Your Business Plan

The appendix section includes documents that supplement or support the information or claims given in other sections of the business plans. Common items you can include in the appendix section include:

• Additional data about the process of manufacturing or creation
• Additional description of products or services such as product schematics
• Additional financial documents or projections
• Articles of incorporation and status
• Backup for market research or competitive analysis
• Bank statements
• Business registries
• Client testimonials (if your business is already running)
• Copies of insurances
• Credit histories (personal or/and business)
• Deeds and permits
• Equipment leases
• Examples of marketing and advertising collateral
• Industry associations and memberships
• Images of product
• Intellectual property
• Key customer contracts
• Legal documents and other contracts
• Letters of reference
• Links to references
• Market research data
• Organizational charts
• Photographs of potential facilities
• Professional licenses pertaining to your legal structure or type of business
• Purchase orders
• Resumes of the founder(s) and key managers
• State and federal identification numbers or codes
• Trademarks or patents’ registrations

Avoid using the appendix section as a place to dump any document or information you feel like adding. Only add documents or information that you support or increase the credibility of your business plan.

Tips and Strategies for Writing a Convincing Business Plan

To achieve a perfect business plan, you need to consider some key tips and strategies. These tips will raise the efficiency of your business plan above average.

1. Know Your Audience

When writing a business plan, you need to know your audience . Business owners write business plans for different reasons. Your business plan has to be specific. For example, you can write business plans to potential investors, banks, and even fellow board members of the company.

The audience you are writing to determines the structure of the business plan. As a business owner, you have to know your audience. Not everyone will be your audience. Knowing your audience will help you to narrow the scope of your business plan.

Consider what your audience wants to see in your projects, the likely questions they might ask, and what interests them.

• A business plan used to address a company's board members will center on its employment schemes, internal affairs, projects, stakeholders, etc.
• A business plan for financial institutions will talk about the size of your market and the chances for you to pay back any loans you demand.
• A business plan for investors will show proof that you can return the investment capital within a specific time. In addition, it discusses your financial projections, tractions, and market size.

2. Get Inspiration from People

Writing a business plan from scratch as an entrepreneur can be daunting. That is why you need the right inspiration to push you to write one. You can gain inspiration from the successful business plans of other businesses. Look at their business plans, the style they use, the structure of the project, etc.

To make your business plan easier to create, search companies related to your business to get an exact copy of what you need to create an effective business plan. You can also make references while citing examples in your business plans.

When drafting your business plan, get as much help from others as you possibly can. By getting inspiration from people, you can create something better than what they have.

3. Avoid Being Over Optimistic

Many business owners make use of strong adjectives to qualify their content. One of the big mistakes entrepreneurs make when preparing a business plan is promising too much.

The use of superlatives and over-optimistic claims can prepare the audience for more than you can offer. In the end, you disappoint the confidence they have in you.

In most cases, the best option is to be realistic with your claims and statistics. Most of the investors can sense a bit of incompetency from the overuse of superlatives. As a new entrepreneur, do not be tempted to over-promise to get the interests of investors.

The concept of entrepreneurship centers on risks, nothing is certain when you make future analyses. What separates the best is the ability to do careful research and work towards achieving that, not promising more than you can achieve.

To make an excellent first impression as an entrepreneur, replace superlatives with compelling data-driven content. In this way, you are more specific than someone promising a huge ROI from an investment.

4. Keep it Simple and Short

When writing business plans, ensure you keep them simple throughout. Irrespective of the purpose of the business plan, your goal is to convince the audience.

One way to achieve this goal is to make them understand your proposal. Therefore, it would be best if you avoid the use of complex grammar to express yourself. It would be a huge turn-off if the people you want to convince are not familiar with your use of words.

Another thing to note is the length of your business plan. It would be best if you made it as brief as possible.

You hardly see investors or agencies that read through an extremely long document. In that case, if your first few pages can’t convince them, then you have lost it. The more pages you write, the higher the chances of you derailing from the essential contents.

To ensure your business plan has a high conversion rate, you need to dispose of every unnecessary information. For example, if you have a strategy that you are not sure of, it would be best to leave it out of the plan.

5. Make an Outline and Follow Through

A perfect business plan must have touched every part needed to convince the audience. Business owners get easily tempted to concentrate more on their products than on other sections. Doing this can be detrimental to the efficiency of the business plan.

For example, imagine you talking about a product but omitting or providing very little information about the target audience. You will leave your clients confused.

To ensure that your business plan communicates your full business model to readers, you have to input all the necessary information in it. One of the best ways to achieve this is to design a structure and stick to it.

This structure is what guides you throughout the writing. To make your work easier, you can assign an estimated word count or page limit to every section to avoid making it too bulky for easy reading. As a guide, the necessary things your business plan must contain are:

• Table of contents
• Introduction
• Product or service description
• Target audience
• Market size
• Competition analysis
• Financial projections

Some specific businesses can include some other essential sections, but these are the key sections that must be in every business plan.

6. Ask a Professional to Proofread

When writing a business plan, you must tie all loose ends to get a perfect result. When you are done with writing, call a professional to go through the document for you. You are bound to make mistakes, and the way to correct them is to get external help.

You should get a professional in your field who can relate to every section of your business plan. It would be easier for the professional to notice the inner flaws in the document than an editor with no knowledge of your business.

In addition to getting a professional to proofread, get an editor to proofread and edit your document. The editor will help you identify grammatical errors, spelling mistakes, and inappropriate writing styles.

Writing a business plan can be daunting, but you can surmount that obstacle and get the best out of it with these tips.

Business Plan Examples and Templates That’ll Save You Tons of Time

1. hubspot's one-page business plan.

The one-page business plan template by HubSpot is the perfect guide for businesses of any size, irrespective of their business strategy. Although the template is condensed into a page, your final business plan should not be a page long! The template is designed to ask helpful questions that can help you develop your business plan.

Hubspot’s one-page business plan template is divided into nine fields:

• Business opportunity
• Company description
• Industry analysis
• Target market
• Implementation timeline
• Marketing plan
• Financial summary
• Funding required

2. Bplan’s Free Business Plan Template

Bplans' free business plan template is investor-approved. It is a rich template used by prestigious educational institutions such as Babson College and Princeton University to teach entrepreneurs how to create a business plan.

The template has six sections: the executive summary, opportunity, execution, company, financial plan, and appendix. There is a step-by-step guide for writing every little detail in the business plan. Follow the instructions each step of the way and you will create a business plan that impresses investors or lenders easily.

3. HubSpot's Downloadable Business Plan Template

HubSpot’s downloadable business plan template is a more comprehensive option compared to the one-page business template by HubSpot. This free and downloadable business plan template is designed for entrepreneurs.

The template is a comprehensive guide and checklist for business owners just starting their businesses. It tells you everything you need to fill in each section of the business plan and how to do it.

There are nine sections in this business plan template: an executive summary, company and business description, product and services line, market analysis, marketing plan, sales plan, legal notes, financial considerations, and appendix.

4. Business Plan by My Own Business Institute

My Own Business Institute (MOBI) which is a part of Santa Clara University's Center for Innovation and Entrepreneurship offers a free business plan template. You can either copy the free business template from the link provided above or download it as a Word document.

The comprehensive template consists of a whopping 15 sections.

• The Business Profile
• The Vision and the People
• Home-Based Business and Freelance Business Opportunities
• Organization
• Licenses and Permits
• Business Insurance
• Communication Tools
• Acquisitions
• Location and Leasing
• Accounting and Cash Flow
• Opening and Marketing
• Managing Employees
• Expanding and Handling Problems

There are lots of helpful tips on how to fill each section in the free business plan template by MOBI.

5. Score's Business Plan Template for Startups

Score is an American nonprofit organization that helps entrepreneurs build successful companies. This business plan template for startups by Score is available for free download. The business plan template asks a whooping 150 generic questions that help entrepreneurs from different fields to set up the perfect business plan.

The business plan template for startups contains clear instructions and worksheets, all you have to do is answer the questions and fill the worksheets.

There are nine sections in the business plan template: executive summary, company description, products and services, marketing plan, operational plan, management and organization, startup expenses and capitalization, financial plan, and appendices.

The ‘refining the plan’ resource contains instructions that help you modify your business plan to suit your specific needs, industry, and target audience. After you have completed Score’s business plan template, you can work with a SCORE mentor for expert advice in business planning.

6. Minimalist Architecture Business Plan Template by Venngage

The minimalist architecture business plan template is a simple template by Venngage that you can customize to suit your business needs .

There are five sections in the template: an executive summary, statement of problem, approach and methodology, qualifications, and schedule and benchmark. The business plan template has instructions that guide users on what to fill in each section.

7. Small Business Administration Free Business Plan Template

The Small Business Administration (SBA) offers two free business plan templates, filled with practical real-life examples that you can model to create your business plan. Both free business plan templates are written by fictional business owners: Rebecca who owns a consulting firm, and Andrew who owns a toy company.

There are five sections in the two SBA’s free business plan templates.

• Executive Summary
• Company Description
• Service Line
• Marketing and Sales

8. The $100 Startup's One-Page Business Plan

The one-page business plan by the $100 startup is a simple business plan template for entrepreneurs who do not want to create a long and complicated plan . You can include more details in the appendices for funders who want more information beyond what you can put in the one-page business plan.

There are five sections in the one-page business plan such as overview, ka-ching, hustling, success, and obstacles or challenges or open questions. You can answer all the questions using one or two sentences.

9. PandaDoc’s Free Business Plan Template

The free business plan template by PandaDoc is a comprehensive 15-page document that describes the information you should include in every section.

There are 11 sections in PandaDoc’s free business plan template.

• Executive summary
• Business description
• Products and services
• Operations plan
• Management organization
• Financial plan
• Conclusion / Call to action
• Confidentiality statement

You have to sign up for its 14-day free trial to access the template. You will find different business plan templates on PandaDoc once you sign up (including templates for general businesses and specific businesses such as bakeries, startups, restaurants, salons, hotels, and coffee shops)

PandaDoc allows you to customize its business plan templates to fit the needs of your business. After editing the template, you can send it to interested parties and track opens and views through PandaDoc.

10. Invoiceberry Templates for Word, Open Office, Excel, or PPT

InvoiceBerry is a U.K based online invoicing and tracking platform that offers free business plan templates in .docx, .odt, .xlsx, and .pptx formats for freelancers and small businesses.

Before you can download the free business plan template, it will ask you to give it your email address. After you complete the little task, it will send the download link to your inbox for you to download. It also provides a business plan checklist in .xlsx file format that ensures you add the right information to the business plan.

Alternatives to the Traditional Business Plan

A business plan is very important in mapping out how one expects their business to grow over a set number of years, particularly when they need external investment in their business. However, many investors do not have the time to watch you present your business plan. It is a long and boring read.

Luckily, there are three alternatives to the traditional business plan (the Business Model Canvas, Lean Canvas, and Startup Pitch Deck). These alternatives are less laborious and easier and quicker to present to investors.

Business Model Canvas (BMC)

The business model canvas is a business tool used to present all the important components of setting up a business, such as customers, route to market, value proposition, and finance in a single sheet. It provides a very focused blueprint that defines your business initially which you can later expand on if needed.

The sheet is divided mainly into company, industry, and consumer models that are interconnected in how they find problems and proffer solutions.

Segments of the Business Model Canvas

The business model canvas was developed by founder Alexander Osterwalder to answer important business questions. It contains nine segments.

• Key Partners: Who will be occupying important executive positions in your business? What do they bring to the table? Will there be a third party involved with the company?
• Key Activities: What important activities will production entail? What activities will be carried out to ensure the smooth running of the company?
• The Product’s Value Propositions: What does your product do? How will it be different from other products?
• Customer Segments: What demography of consumers are you targeting? What are the habits of these consumers? Who are the MVPs of your target consumers?
• Customer Relationships: How will the team support and work with its customer base? How do you intend to build and maintain trust with the customer?
• Key Resources: What type of personnel and tools will be needed? What size of the budget will they need access to?
• Channels: How do you plan to create awareness of your products? How do you intend to transport your product to the customer?
• Cost Structure: What is the estimated cost of production? How much will distribution cost?
• Revenue Streams: For what value are customers willing to pay? How do they prefer to pay for the product? Are there any external revenues attached apart from the main source? How do the revenue streams contribute to the overall revenue?

Lean Canvas

The lean canvas is a problem-oriented alternative to the standard business model canvas. It was proposed by Ash Maurya, creator of Lean Stack as a development of the business model generation. It uses a more problem-focused approach and it majorly targets entrepreneurs and startup businesses.

Lean Canvas uses the same 9 blocks concept as the business model canvas, however, they have been modified slightly to suit the needs and purpose of a small startup. The key partners, key activities, customer relationships, and key resources are replaced by new segments which are:

• Problem: Simple and straightforward number of problems you have identified, ideally three.
• Solution: The solutions to each problem.
• Unfair Advantage: Something you possess that can't be easily bought or replicated.
• Key Metrics: Important numbers that will tell how your business is doing.

Startup Pitch Deck

While the business model canvas compresses into a factual sheet, startup pitch decks expand flamboyantly.

Pitch decks, through slides, convey your business plan, often through graphs and images used to emphasize estimations and observations in your presentation. Entrepreneurs often use pitch decks to fully convince their target audience of their plans before discussing funding arrangements.

Considering the likelihood of it being used in a small time frame, a good startup pitch deck should ideally contain 20 slides or less to have enough time to answer questions from the audience.

Unlike the standard and lean business model canvases, a pitch deck doesn't have a set template on how to present your business plan but there are still important components to it. These components often mirror those of the business model canvas except that they are in slide form and contain more details.

Using Airbnb (one of the most successful start-ups in recent history) for reference, the important components of a good slide are listed below.

• Cover/Introduction Slide: Here, you should include your company's name and mission statement. Your mission statement should be a very catchy tagline. Also, include personal information and contact details to provide an easy link for potential investors.
• Problem Slide: This slide requires you to create a connection with the audience or the investor that you are pitching. For example in their pitch, Airbnb summarized the most important problems it would solve in three brief points – pricing of hotels, disconnection from city culture, and connection problems for local bookings.
• Solution Slide: This slide includes your core value proposition. List simple and direct solutions to the problems you have mentioned
• Customer Analysis: Here you will provide information on the customers you will be offering your service to. The identity of your customers plays an important part in fundraising as well as the long-run viability of the business.
• Market Validation: Use competitive analysis to show numbers that prove the presence of a market for your product, industry behavior in the present and the long run, as well as the percentage of the market you aim to attract. It shows that you understand your competitors and customers and convinces investors of the opportunities presented in the market.
• Business Model: Your business model is the hook of your presentation. It may vary in complexity but it should generally include a pricing system informed by your market analysis. The goal of the slide is to confirm your business model is easy to implement.
• Marketing Strategy: This slide should summarize a few customer acquisition methods that you plan to use to grow the business.
• Competitive Advantage: What this slide will do is provide information on what will set you apart and make you a more attractive option to customers. It could be the possession of technology that is not widely known in the market.
• Team Slide: Here you will give a brief description of your team. Include your key management personnel here and their specific roles in the company. Include their educational background, job history, and skillsets. Also, talk about their accomplishments in their careers so far to build investors' confidence in members of your team.
• Traction Slide: This validates the company’s business model by showing growth through early sales and support. The slide aims to reduce any lingering fears in potential investors by showing realistic periodic milestones and profit margins. It can include current sales, growth, valuable customers, pre-orders, or data from surveys outlining current consumer interest.
• Funding Slide: This slide is popularly referred to as ‘the ask'. Here you will include important details like how much is needed to get your business off the ground and how the funding will be spent to help the company reach its goals.
• Appendix Slides: Your pitch deck appendix should always be included alongside a standard pitch presentation. It consists of additional slides you could not show in the pitch deck but you need to complement your presentation.

It is important to support your calculations with pictorial renditions. Infographics, such as pie charts or bar graphs, will be more effective in presenting the information than just listing numbers. For example, a six-month graph that shows rising profit margins will easily look more impressive than merely writing it.

Lastly, since a pitch deck is primarily used to secure meetings and you may be sharing your pitch with several investors, it is advisable to keep a separate public version that doesn't include financials. Only disclose the one with projections once you have secured a link with an investor.

Advantages of the Business Model Canvas, Lean Canvas, and Startup Pitch Deck over the Traditional Business Plan

• Time-Saving: Writing a detailed traditional business plan could take weeks or months. On the other hand, all three alternatives can be done in a few days or even one night of brainstorming if you have a comprehensive understanding of your business.
• Easier to Understand: Since the information presented is almost entirely factual, it puts focus on what is most important in running the business. They cut away the excess pages of fillers in a traditional business plan and allow investors to see what is driving the business and what is getting in the way.
• Easy to Update: Businesses typically present their business plans to many potential investors before they secure funding. What this means is that you may regularly have to amend your presentation to update statistics or adjust to audience-specific needs. For a traditional business plan, this could mean rewriting a whole section of your plan. For the three alternatives, updating is much easier because they are not voluminous.
• Guide for a More In-depth Business Plan: All three alternatives have the added benefit of being able to double as a sketch of your business plan if the need to create one arises in the future.

Business Plan FAQ

Business plans are important for any entrepreneur who is looking for a framework to run their company over some time or seeking external support. Although they are essential for new businesses, every company should ideally have a business plan to track their growth from time to time.  They can be used by startups seeking investments or loans to convey their business ideas or an employee to convince his boss of the feasibility of starting a new project. They can also be used by companies seeking to recruit high-profile employee targets into key positions or trying to secure partnerships with other firms.

Business plans often vary depending on your target audience, the scope, and the goals for the plan. Startup plans are the most common among the different types of business plans.  A start-up plan is used by a new business to present all the necessary information to help get the business up and running. They are usually used by entrepreneurs who are seeking funding from investors or bank loans. The established company alternative to a start-up plan is a feasibility plan. A feasibility plan is often used by an established company looking for new business opportunities. They are used to show the upsides of creating a new product for a consumer base. Because the audience is usually company people, it requires less company analysis. The third type of business plan is the lean business plan. A lean business plan is a brief, straight-to-the-point breakdown of your ideas and analysis for your business. It does not contain details of your proposal and can be written on one page. Finally, you have the what-if plan. As it implies, a what-if plan is a preparation for the worst-case scenario. You must always be prepared for the possibility of your original plan being rejected. A good what-if plan will serve as a good plan B to the original.

A good business plan has 10 key components. They include an executive plan, product analysis, desired customer base, company analysis, industry analysis, marketing strategy, sales strategy, financial projection, funding, and appendix. Executive Plan Your business should begin with your executive plan. An executive plan will provide early insight into what you are planning to achieve with your business. It should include your mission statement and highlight some of the important points which you will explain later. Product Analysis The next component of your business plan is your product analysis. A key part of this section is explaining the type of item or service you are going to offer as well as the market problems your product will solve. Desired Consumer Base Your product analysis should be supplemented with a detailed breakdown of your desired consumer base. Investors are always interested in knowing the economic power of your market as well as potential MVP customers. Company Analysis The next component of your business plan is your company analysis. Here, you explain how you want to run your business. It will include your operational strategy, an insight into the workforce needed to keep the company running, and important executive positions. It will also provide a calculation of expected operational costs.  Industry Analysis A good business plan should also contain well laid out industry analysis. It is important to convince potential investors you know the companies you will be competing with, as well as your plans to gain an edge on the competition. Marketing Strategy Your business plan should also include your marketing strategy. This is how you intend to spread awareness of your product. It should include a detailed explanation of the company brand as well as your advertising methods. Sales Strategy Your sales strategy comes after the market strategy. Here you give an overview of your company's pricing strategy and how you aim to maximize profits. You can also explain how your prices will adapt to market behaviors. Financial Projection The financial projection is the next component of your business plan. It explains your company's expected running cost and revenue earned during the tenure of the business plan. Financial projection gives a clear idea of how your company will develop in the future. Funding The next component of your business plan is funding. You have to detail how much external investment you need to get your business idea off the ground here. Appendix The last component of your plan is the appendix. This is where you put licenses, graphs, or key information that does not fit in any of the other components.

The business model canvas is a business management tool used to quickly define your business idea and model. It is often used when investors need you to pitch your business idea during a brief window.

A pitch deck is similar to a business model canvas except that it makes use of slides in its presentation. A pitch is not primarily used to secure funding, rather its main purpose is to entice potential investors by selling a very optimistic outlook on the business.

Business plan competitions help you evaluate the strength of your business plan. By participating in business plan competitions, you are improving your experience. The experience provides you with a degree of validation while practicing important skills. The main motivation for entering into the competitions is often to secure funding by finishing in podium positions. There is also the chance that you may catch the eye of a casual observer outside of the competition. These competitions also provide good networking opportunities. You could meet mentors who will take a keen interest in guiding you in your business journey. You also have the opportunity to meet other entrepreneurs whose ideas can complement yours.

Exlore Further

• 12 Key Elements of a Business Plan (Top Components Explained)
• 13 Sources of Business Finance For Companies & Sole Traders
• 5 Common Types of Business Structures (+ Pros & Cons)
• How to Buy a Business in 8 Steps (+ Due Diligence Checklist)

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Martin luenendonk.

Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.

This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.

How to Start a Grant Writing Business

Main Sections In This Post Steps To Starting A Grant Writing Business Points to Consider Knowledge Is Power Featured Video

This post offers a detailed step-by-step guide to kickstart your grant writing business.

It provides insight, examples, and samples to provide a comprehensive understanding.

The “Knowledge Is Power” section ensures access to up-to-date search results. These resources cater to both the startup and established phases of your venture.

Given the wealth of information, consider sharing and bookmarking this post for future reference—a valuable resource for aspiring and existing grant writers.

Let’s get started with the steps.

The Steps to Take To Start Your Grant Writing Business

Below are the steps to starting a grant writing business.

Each step is linked to a specific section, allowing you to jump to your desired section or scroll to follow the steps in order.

• An Overview of What You’re Getting Into
• Grant Writing Business Overview
• Researching Your Grant Writing Business
• Looking at Financials
• Creating Your Mission Statement
• Creating A Unique Selling Proposition (USP)
• Choose a Grant Writing Business Name
• Register Your Company
• Create Your Corporate Identity
• Writing a Business Plan
• Banking Considerations
• Getting the Funds for Your Operation
• Software Setup
• Business Insurance Considerations
• Supplier and Service Provider Considerations
• Setting Your Prices
• Physical Setup
• Creating a Website
• Create an External Support Team
• Hiring Employees
• Getting Customers Through the Door

1. An Overview of What You’re Getting Into

Working in a field you’re passionate about is a true blessing. Passion serves as the driving force behind your success. When you love what you do, challenges become opportunities for solutions rather than exit strategies.

Your level of passion profoundly influences your success, but it’s essential to reflect on a hypothetical scenario. Imagine having abundant wealth, a comfortable life, and no financial concerns. Would you still choose to run a grant writing business without monetary gain?

If your answer is a resounding “yes,” it signifies your unwavering passion for this endeavor. You’re on the right track.

Conversely, if your response is “no,” it raises an important question: What would you prefer to do instead? This introspection might lead you to a different path more aligned with your interests.

In conclusion, passion is the cornerstone of success when owning and operating a grant writing business. It’s the driving factor that fuels your determination and resilience. So, assess your passion and let it guide you toward a fulfilling career path.

For More, See How Passion Affects Your Business . Also, see Considerations Before You Start Your Business to identify key points for a new business owner.

2. Gaining an Overview of Owning a Grant Writing Business

Next, let’s spend some time on key issues to give you an overview of what to expect from owning and running your business.

a.) A Quick Overview of Owning a Grant Writing Business

A grant writing business is a professional service that specializes in assisting organizations, non-profits, businesses, and individuals to secure funding through grants.

These grants can come from various sources, including government agencies, private foundations, and corporations.

The primary goal of a grant writing business is to help clients prepare compelling grant proposals that increase their chances of receiving funding.

Day-to-day tasks involved in running and managing a grant writing business can vary but typically encompass the following:

• Client Consultations : Meet with potential clients to assess their needs, objectives, and funding requirements. This involves discussing project details and understanding their mission and goals.
• Research and Grant Identification : Identifying relevant grant opportunities that align with the client’s objectives. This involves extensive research to find suitable grants and funding sources.
• Proposal Writing : Creating persuasive grant proposals that effectively communicate the client’s project, objectives, and the impact of the proposed funding. This includes developing a compelling narrative, budgeting, and attaching required documents.
• Client Communication : Maintaining clear and regular communication with clients to provide updates on the progress of grant applications, answer questions, and address concerns.
• Networking : Building and maintaining relationships with potential grant providers, funders, and other organizations in the field. This involves attending conferences, workshops, and industry events.
• Administrative Tasks : Managing administrative duties such as invoicing clients, tracking project timelines, and maintaining records of grant applications and outcomes.
• Continuous Learning : Staying up-to-date with industry trends, changes in grant application guidelines, and emerging funding opportunities.
• Marketing and Outreach : Promoting the grant writing business through various marketing channels, including social media, websites, and networking events.
• Quality Control : Ensuring the quality and accuracy of grant proposals, including proofreading and editing, to enhance their competitiveness.
• Financial Management : Overseeing the financial aspects of the business, including budgeting, expenses, and revenue generation.
• Client Retention : Fostering long-term relationships with clients by delivering successful grant applications and providing ongoing support for grant management and reporting.

Running a grant writing business demands writing skills, research acumen, project management, and a deep understanding of the grant funding landscape.

Successful grant writers can translate their clients’ visions into persuasive proposals that secure the funding to advance their missions and initiatives.

b.) Grant Writing Business Models

Grant writing businesses can take various setups and business models depending on their focus and client base. Here are some common types:

• Business Model : Sole proprietorship.
• Description : Independent grant writers offer their services to multiple clients on a freelance basis. They charge per grant proposal or hourly rates.
• Business Model : Consulting firm.
• Description : Consultancies offer a range of grant-related services, including proposal writing, grant research, and program development. They often work with nonprofits, businesses, and government agencies.
• Business Model : Nonprofit organization.
• Description : Nonprofits focused on grant services assist other nonprofits in securing funding. They may charge fees or work on a percentage basis of the grants secured.
• Business Model : Education and training.
• Description : These businesses offer workshops, courses, and training sessions on grant writing. They generate revenue through course fees.
• Business Model : Software as a Service (SaaS).
• Description : Companies in this category develop and sell grant writing software and tools that assist grant writers in the proposal creation process. They charge subscription fees.
• Business Model : Combination.
• Description : Some grant writing businesses combine multiple models. For instance, a consultancy may also offer grant writing workshops or provide software tools to clients.

Choosing the right business model from the beginning is crucial, as switching your model later can be more challenging.

Consider your expertise, target market, competition, and the services you want to provide.

Identify a business model that aligns with your strengths and interests, as this will make the startup phase smoother and more planned.

Remember that flexibility in your business model can also allow adaptation as your grant writing business grows and evolves.

c.) Making Your Grant Writing Business Stand Out

Ideas to Make a Grant Writing Business Stand Out:

• Niche Specialization : Focus on a specific niche or industry, such as education, healthcare, or environmental conservation. Specialization demonstrates expertise and attracts clients seeking tailored solutions.
• Proven Track Record : Showcase a portfolio of successfully secured grants and highlight the impact these grants had on clients’ projects. Social proof is a powerful tool.
• Client Testimonials : Encourage satisfied clients to provide testimonials that highlight your professionalism, reliability, and the results you delivered.
• Partnerships : Collaborate with other businesses or organizations, such as nonprofits or consultants, to offer comprehensive grant solutions. Partnerships can expand your reach and service offerings.
• Transparency : Be transparent about your pricing, processes, and timelines. Clients appreciate honesty and clarity in their interactions.
• Educational Content : Create and share educational content through blogs, webinars, or workshops to position yourself as an industry thought leader and provide value to potential clients.
• Exceptional Communication : Maintain open and consistent communication with clients. Promptly respond to inquiries and keep clients informed about the progress of their grant applications.
• Diverse Funding Sources : Develop expertise in identifying and accessing diverse funding sources, including government grants, private foundations, and corporate giving programs.
• Innovative Technology : Utilize grant management software and tools to streamline processes, enhance organization, and improve collaboration with clients.
• Client-Centric Approach : Tailor your services to meet the unique needs and goals of each client. Demonstrating a client-centric approach fosters trust and satisfaction.

d.) Add-ons for a Grant Writing Business

• Grant Research Services : Offer comprehensive grant research services to identify suitable client funding opportunities. This can include creating a customized grants database.
• Grant Management Software : Develop or partner with software providers to offer grant management platforms that assist clients in tracking deadlines, requirements, and reporting.
• Funding Strategy Consulting : Provide strategic consulting services to help clients develop long-term funding strategies aligned with their mission and goals.
• Grant Review and Editing : Offer grant review and editing services for clients who have already drafted proposals. This ensures submissions are polished and competitive.
• Grant Evaluation Services : Assist clients in evaluating the effectiveness of their grant-funded projects, including impact assessment and reporting.
• Training Workshops : Host grant writing workshops and training sessions for clients and other professionals interested in improving their grant writing skills.
• Grant Compliance Services : Help clients navigate complex grant compliance requirements, ensuring they meet all obligations and reporting standards.
• Grant Marketing Services : Develop marketing and outreach strategies to promote clients’ grant-funded projects to potential donors, stakeholders, and the public.
• Grant Proposal Templates : Create customizable grant proposal templates tailored to specific industries or funding sources, providing clients with a valuable resource.
• Monthly Retainer Packages : Offer monthly retainer packages where clients can access ongoing grant writing support, consulting, and services as needed.
• Grant Writing Certification : Develop and offer a grant writing certification program for individuals looking to enter the field or improve their skills.
• Grant Funding Alerts : Provide clients with real-time grant funding alerts and updates on new opportunities that match their criteria.
• Grant Workshops for Donors : Organize workshops and training sessions for potential grant donors, helping them understand the grant application process and criteria.
• Social Impact Measurement Tools : Develop tools and services that help clients measure and communicate the social impact of their grant-funded projects.
• Diversity and Inclusion Services : Assist clients in addressing diversity and inclusion aspects within their grant applications, aligning with the priorities of many grant providers.

By implementing these add-ons, a grant writing business can expand its service offerings, cater to diverse client needs, and create additional revenue streams while enhancing its reputation and value in the industry.

e.) Pros and Cons of Owning a Business

Starting and running a business comes with both advantages and challenges.

While the benefits are enticing, it’s crucial not to overlook the potential hurdles.

Recognizing these challenges early on allows for better preparation and minimizes unexpected setbacks in your entrepreneurial journey.

For more, see Pros and Cons of Starting a Small Business.

f.) Challenges You Could Face When Starting and Operating a Grant Writing Business

Challenges When Starting a Grant Writing Business:

• Competition : The grant writing industry is competitive, with many experienced professionals and firms. As a newcomer, establishing a reputation and winning clients can be challenging.
• Building a Client Base : Acquiring the first clients can be daunting. Without a track record, potential clients may hesitate to entrust their grant proposals to a new business.
• Legal and Regulatory Requirements : Navigating the legal aspects of business formation, contracts, and compliance with grant guidelines can be complex and time-consuming.
• Financial Uncertainty : In the early stages, cash flow may be inconsistent. Securing steady revenue while covering startup costs can be stressful.
• Learning Curve : Understanding the intricacies of various grants, industries, and effective proposal writing takes time and continuous learning.
• Marketing and Branding : Building a strong online presence, marketing effectively, and establishing a brand identity require concerted effort and expertise.

Challenges When in Full Operation:

• Client Retention : Maintaining long-term client relationships can be challenging, as clients may seek other grant writers or reduce their grant-seeking efforts.
• Proposal Success Rates : Grant approval rates can be unpredictable, impacting the perceived effectiveness of your services.
• Workload Management : Managing multiple clients and grant applications simultaneously demands strong organizational skills and efficient project management.
• Changing Regulations : Grant guidelines and regulations may evolve, requiring ongoing adaptation and keeping up-to-date with compliance requirements.
• Fee Structure : Determining pricing strategies that balance affordability for clients with profitability for the business can be complex.
• Burnout : The workload and deadline pressures in grant writing can lead to burnout if not managed effectively.
• Evolving Industry Trends : Staying updated with industry trends, technology, and best practices is crucial to remain competitive.
• Economic Factors : Economic downturns can impact grant availability and funding priorities, affecting business stability.
• Client Diversity : Serving clients from diverse sectors and industries necessitates versatility and adaptability in grant writing skills.
• Legal Liabilities : Errors or omissions in grant proposals can lead to legal liabilities and reputation damage if not addressed properly.

Understanding these challenges at the startup phase and during full operation is essential for grant writing business owners.

Effective strategies, continuous learning, adaptability, and excellent client relationships are key to overcoming these obstacles and achieving long-term success in the field.

g.) Questions You Need to Consider for Your Grant Writing Business

Before embarking on your grant writing business journey, it’s essential to address crucial questions to ensure preparedness and success:

• Business Model : Determine the grant writing business model that aligns with your goals, whether freelance, consultancy, or a hybrid approach.
• Skills Assessment : Evaluate your grant writing skills and assess if you possess the necessary management and operational expertise.
• Solo or Team : Decide if you’ll handle all aspects alone or hire employees or partners to share responsibilities.
• Management : Consider if you’ll manage the business personally or hire a manager for day-to-day operations.
• Customer Acquisition : Develop a customer acquisition strategy, including marketing, networking, and outreach.
• Customer Retention : Plan how to maintain long-term client relationships and ensure repeat business through exceptional service.
• Partnerships and Investors : Explore potential partnerships or investors who can enhance your business’s capabilities and reach.
• Financing : Evaluate your startup costs and devise a financing strategy, considering loans, investments, or personal savings.
• Profitability Timeline : Determine how long it may take to turn a profit, understanding the financial challenges during the early stages.
• Personal Support : Identify how you’ll sustain yourself financially during the initial phase, which can be financially demanding.
• Service Offerings : Define the range of products and services your business will offer, from grant writing to additional support.
• Market Demand : Research market demand to ensure your offerings meet clients’ needs and preferences.
• Unique Value Proposition : Clearly define what sets your grant writing business apart from competitors and emphasize your unique value.
• Marketing and Branding : Establish a robust marketing and branding strategy to build a strong online presence and industry reputation.
• Legal and Compliance : Address legal requirements, contracts, and compliance with grant guidelines to operate ethically and transparently.
• Continuous Learning : Commit to ongoing learning and staying current with industry trends, regulations, and best practices.

By thoroughly addressing these questions, you’ll be better equipped to navigate the complexities of starting and operating a grant writing business, enhancing your chances of long-term success in this competitive field.

3. Research

Inside information grant writing business research.

Thorough Research is Essential

Before further steps, thorough research is necessary when starting a grant writing business. Quality information is your compass, guiding you through the complexities of this endeavor.

Learn from Experienced Professionals

Experienced grant writers can provide invaluable insights. Their knowledge and years of experience make them reliable sources of information. Spending time with them can be priceless for your business’s success.

Finding the Right Mentors

Discovering the right mentors goes beyond this post. Detailed strategies for identifying and approaching mentors are available in the article “An Inside Look Into the Business You Want To Start.”

Recommendation

I strongly advise reading “An Inside Look Into the Business You Want To Start” for comprehensive guidance on understanding and preparing for your journey into grant writing.  See An Inside Look Into the Business You Want To Start for all the details.

Supply, Demand, and Your Location

Assessing Market Demand for Your Grant Writing Business

Before launching your grant writing business, conducting a comprehensive assessment of market demand in your chosen location is crucial. Here are simple strategies to help you gauge demand effectively:

1. Market Research :

• Online Tools : Utilize online market research tools like Google Trends, Keyword Planner, and industry-specific databases to identify search trends and keyword volume related to grant writing services in your target location.
• Competitor Analysis : Study your competitors in the area. Evaluate their client base, services offered, and customer reviews to understand the demand they’re meeting.

2. Customer Surveys :

• Online Surveys : Create online surveys or questionnaires to gather insights from potential clients. Ask about their grant writing needs, pain points, and preferences.
• Local Networking : Attend local business events, chamber of commerce meetings, or industry-specific gatherings to network with potential clients. Engage in conversations to uncover their grant-related challenges.

3. Focus Groups :

• Organize Workshops : Host workshops or webinars on grant-related topics. This not only establishes your expertise but also allows you to interact with potential clients directly.
• Feedback Sessions : Arrange focus group sessions where you present your grant writing ideas and gather feedback. This can provide valuable insights into demand.

4. Local Partnerships :

• Collaborate with Organizations : Partner with local nonprofit organizations, educational institutions, or businesses. They often require grant writing services and can help you gauge demand.
• Networking Events : Attend local business networking events and build relationships with organizations that might need your services.

5. Online Presence :

• Website Analytics : If you have a website, analyze its traffic using tools like Google Analytics. Monitor the geographical location of visitors to assess interest in your services.
• Social Media Engagement : Use social media platforms to engage with the local community. Observe the response to grant-related posts and inquiries from your target location.

6. Pilot Projects :

• Offer Pilot Services : Consider offering discounted or trial grant writing services initially. This can attract clients and provide real-world data on demand.
• Client Feedback : Collect feedback from pilot clients to refine your offerings and understand the market better.

7. Industry Reports :

• Access Reports : Explore industry-specific reports and publications that highlight grant opportunities and trends in your chosen location.

8. Government Resources :

• Local Government : Check with local government agencies and economic development offices for information on grant programs in the area. This can indicate the level of grant activity.

By employing these strategies, you’ll gain valuable insights into the demand for your grant writing services in your chosen location. This data will inform your business decisions and increase your chances of a successful venture.

For more, see the Demand for Your Products and Services and Choosing The Best Location for Your Business.

Target Audience

Understanding Your Target Audience

Understanding your target audience is paramount for business success . Benefits include:

• Tailored Offerings: Customize products and services to meet customer needs.
• Efficient Marketing: Focus marketing efforts on interested individuals.
• Customer Satisfaction: Provide solutions aligned with customer preferences.

Target Market Ideas:

• Nonprofit Organizations
• Small Businesses
• Educational Institutions
• Healthcare Providers
• Government Agencies
• Arts and Culture Organizations
• Research Institutions
• Community Development Organizations
• Environmental Initiatives

For more, see How To Understand Your Target Market.

4. Looking at Financials:

Startup Cost Considerations

Starting a grant writing business requires meticulous planning, especially regarding startup costs.

Here’s a comprehensive overview:

Accurate Estimation : Precise estimation of startup costs is crucial for a smooth launch. Underestimating can lead to financial shortages while overestimating may deter potential investors.

Factors Influencing Costs :

• Business Size : Costs vary depending on the scale of your operation.
• Location : Your chosen location can significantly impact expenses.
• Employees : Deciding whether to hire employees or work solo affects costs.
• Equipment : Buying new or used equipment and office supplies is a cost consideration.
• Leasing vs. Renting : Deciding between leasing or renting space affects financial planning.

Estimation Process :

• Listing Expenses : Create a detailed list of everything you need to start your business.
• Price Research : Research and gather prices for each item or service.
• Unforeseen Issues : Anticipate unexpected expenses that may arise during the planning phase.

Sales and Profit Outlook :

The success of your grant writing business hinges on several factors:

• Customer Service : Exceptional service fosters customer loyalty.
• Product/Service Popularity : The demand for your offerings and their appeal to clients is vital.
• Effective Marketing : Reaching and engaging your target audience drives sales.

For More, See Estimating Profitability and Revenue.

Profit Simplified :

To assess profitability, consider the following:

• Profit per Sale : Calculate the profit generated from each transaction.
• Sales Volume : Determine the number of sales you can realistically achieve.
• Overhead Expenses : Account for all monthly expenses, including overhead.

Achieving profitability means balancing profit per sale and sales volume and managing monthly expenses.

For more detailed information, refer to my article on Estimating Startup Costs.

This holistic overview will guide your financial planning and set realistic expectations for your grant writing business.

Simple Sample: Financial Lists to Consider As a Starting Point

Note: Focus on the list items more than the numbers. The numbers are samples. Your estimates will differ due to how you set up your business, location, expenses, and revenues.

1. Start-Up Costs for a Mid-Sized Grant Writing Business:

2. Monthly Expenses for a Mid-Sized Grant Writing Business:

Please note that these sample estimates can vary based on location, specific business needs, and other factors.

It’s essential to conduct thorough research and consult with professionals in the field to get accurate figures for your specific situation.

Average Profits For Mid-Sized Grant Writing Business in The USA grant statistics, grant writing, and the grant industry.

• Writing a single federal grant application takes between 80 and 200 hours for a nonprofit. Source
• According to the Bureau of Labor Statistics, the grant writer’s hourly wages range from $20 to $100. Source
• The average salary for a Grant Writer in 2023 is $51,115. Source

To determine the average gross profit for a grant-writing business, one must consider various factors such as the number of grants written in a year, the success rate of obtaining those grants, the hourly or project-based fees charged, and any additional services offered.

Consider revisiting Step 3. Researching your grant writing business , where there is a technique to get inside information, will benefit you in this step.

5. Create Your Mission Statement

The Significance of a Mission Statement

A mission statement serves as a compass for your grant writing business. It crystallizes your business’s purpose and benefits, keeping you on the right path.

Clarity and Focus :

A well-crafted mission statement reminds you of your primary value to customers and the community, ensuring you stay committed to your core mission.

Examples of Mission Statements for a Grant Writing Business :

• “Empowering nonprofit organizations with expert grant writing services to drive positive change in our community.”
• “Dedicated to securing funding for innovative projects that make a lasting impact on society.”
• “Enabling educational institutions to access vital resources through comprehensive grant solutions.”
• “Committed to helping businesses thrive by securing grants that drive growth and sustainability.”
• “Supporting the arts and cultural initiatives by connecting creative minds with grant opportunities.”

These mission statements emphasize the purpose and focus of a grant writing business, guiding its endeavors towards serving its clients and the broader community.

For more, see How To Create a Mission Statement.

6. Creating A Unique Selling Proposition (USP)

The Power of a Unique Selling Proposition (USP)

A Unique Selling Proposition (USP) is a distinct feature or quality that sets your grant writing business apart from the competition.

It’s a crucial tool for identifying what makes your business unique and enticing to customers.

Stand Out from the Crowd : A well-defined USP helps you break through the clutter of similar businesses by showcasing what makes your services unique.

Attract and Retain Customers : Your USP can resonate with your target audience, drawing them in and keeping them loyal because they recognize your value.

Examples of USPs for a Grant Writing Business :

• “Guaranteed Grant Success: We promise a 95% success rate in securing funding for your project.”
• “Tailored Solutions: Every grant proposal is customized to match your organization’s unique needs and goals.”
• “Quick Turnaround: Our rapid-response grant writing team delivers results within 30 days, unmatched in the industry.”
• “Affordable Excellence: Access top-tier grant writing expertise without breaking your budget.”
• “Industry Expertise: Our grant writers specialize in healthcare, ensuring your medical facility secures vital funding.”

These USPs highlight the exceptional qualities that distinguish each grant writing business, whether it’s exceptional success rates, speedy service, affordability, or specialized expertise.

7. Choose a Business Name

Choosing the Right Business Name

Selecting a business name is a pivotal decision.

It should be catchy, industry-appropriate, easy to remember, and potentially stand the test of time.

Remember, your business name is a long-term commitment.

Online Presence : In today’s digital age, securing a matching domain name for your website is essential.

Avoid Conflicts : Ensure the name you choose isn’t already registered by another business to prevent legal issues.

Now, here’s a list of 30 ideas for Grant Writing Business names to ignite your creativity:

• GrantCraft Pro
• FundWrite Solutions
• GrantWise Advisors
• PhilanthroPro
• GrantGuru Partners
• FundingFocus Experts
• GrantMasters Inc.
• Purposeful Proposals
• GrantWave Consultants
• StellarGrant Strategies
• FundingFusion LLC
• GrantVista Services
• GrantElevate Solutions
• ProsperityPitch
• GrantHorizon Group
• Visionary Grants
• ElevateFund Pros
• FundForesight Experts
• ImpactWrite Team
• GrantSage Partners
• GrantBoost Advisors
• AscendGrant Solutions
• AccessFunds Pro
• QuestBridge Consultants
• VisionCraft Grant Writers
• SummitGrant Strategies
• GrantLift Pros
• VentureWrite Services
• FundedFutures LLC
• CatalystGrant Consultants

Use these suggestions as a starting point to brainstorm and create a unique and memorable name for your grant writing business.

For more, see the following articles:

• How To Register a Business Name
• Registering a Domain Name For Your Business

8. Register Your Company

Ensuring Legal Compliance for Your Grant Writing Business

Legal compliance is a fundamental aspect of starting and running any business. It’s essential to consult with a professional, such as an attorney or accountant, to ensure your grant writing business adheres to all legal requirements and tax considerations.

Common Types of Registrations :

• Business Structure : Decide on your business structure, such as a sole proprietorship, partnership, limited liability company (LLC), or corporation.
• Business Name : Register your chosen business name if required in your jurisdiction.

Permits and Licenses to Consider :

• Business License : Obtain a general business license, often required by local governments.
• Sales Tax Permit : If you sell services and your state has sales tax, you may need to apply for a sales tax permit.
• Home Occupation Permit : Check for a home occupation permit if you operate from home.
• Professional License : Depending on your location, you may require professional licensing or certifications in grant writing.
• Employer Identification Number (EIN) : If you hire employees or operate as a corporation, you’ll need an EIN from the IRS.
• State Grant Writing Associations : Some states may require membership in grant writing associations for certain activities.
• Contracts and Agreements : Consult a legal professional to draft contracts, agreements, and terms of service.
• Privacy and Data Protection : Ensure compliance with data protection laws when handling client information.
• Insurance : Consider liability insurance to protect your business from legal claims.
• Zoning Compliance : Check zoning regulations, especially if you operate from a commercial location.
• Permit for Seminars/Workshops : If you host training events, workshops, or seminars, check if permits are needed.

Consulting with professionals and researching local regulations will help you navigate the legal aspects of your grant writing business effectively, ensuring compliance and mitigating legal risks.

Registration:

• How to Register Your Business
• How To Register a DBA
• How to Register a Trademark
• How to Get a Business License

Business Structures:

• How to Choose a Business Structure
• Pros & Cons of a Sole Proprietorship
• How To Form an LLC
• How To Register a Business Partnership
• How To Form a Corporation
• How To Choose a Business Registration Service

9. Create Your Corporate Identity

Creating a Professional Corporate Identity

Building a strong corporate identity (ID) is essential for any business. It’s the visual representation of your brand and plays a significant role in how your business is perceived. Here are key components to consider:

Logo Design:

Your logo is the cornerstone of your corporate ID. Invest in a professionally designed logo that reflects your business’s values and personality. It should be simple, memorable, and versatile.

Business Cards:

Design eye-catching and informative business cards. They serve as a direct link between you and potential clients. Ensure they include your logo, contact information, and a clear description of your services.

A well-designed website is essential in today’s digital age. It’s often the first point of contact for potential clients. Make sure your website is user-friendly, informative, and visually appealing.

Business Signage:

If you have a physical location, invest in professional signage. Your business sign should prominently display your logo and business name, making it easy for customers to find you.

Stationery:

Consistency is key. Use your corporate ID on all your stationery, including letterheads, envelopes, and invoices. This reinforces your brand identity.

Promotional Materials:

Whether it’s brochures, flyers , or promotional products , ensure they align with your corporate ID. This consistency helps in brand recognition.

Brand Guidelines:

Create brand guidelines to maintain consistency in how your corporate ID is used. This includes specifying logo usage, color schemes, fonts, and more.

Professionalism Matters:

Invest in professional design services to create and maintain your corporate ID. Amateurish designs can harm your brand’s credibility.

Adaptability:

Your corporate ID should be versatile enough to work across various mediums and platforms, from digital to print.

Evolve Over Time:

Consider refreshing your corporate ID to stay relevant and competitive as your business grows and evolves.

A well-crafted corporate identity enhances your brand’s reputation and makes a positive impression on customers. It’s a valuable investment that sets you apart from the competition.

You can see our page for an overview of your logo , business cards , website , and business sign , or see A Complete Introduction to Corporate Identity Packages.

10. Writing a Business Plan

A business plan is a fundamental document serving multiple purposes.

It becomes invaluable when seeking financing or investors and acts as a guiding beacon throughout your business journey, whether in its infancy or full operation.

Crafting an effective business plan demands time and effort, as it involves envisioning your business’s future in intricate detail.

Despite the effort, the result is well worth it, providing you with a clear startup and operational success roadmap.

When creating your business plan, remember the flexibility in your approach. You can start from scratch, hire a professional, utilize templates, or leverage business plan software.

Regardless of your choice, active participation is crucial to convey your business’s nature and management strategy effectively.

Keep in mind that change is inevitable. Your business plan and operations may evolve as you gain experience or adapt to market shifts.

Regularly reviewing and updating your business plan ensures it remains a relevant and powerful tool in guiding your business toward continued success.

Business Plan Template for a Grant Writing Business

Executive Summary

• Business Name and Overview : Concisely describe your grant writing business, its mission, and goals.
• Key Highlights : Summarize the unique aspects of your business, such as your specialization, target market, and competitive advantages.
• Financial Summary : Include a brief overview of your financial projections, startup costs, and funding requirements.

Business Description

• Business Structure : Detail whether your business is a sole proprietorship, partnership, LLC, or corporation.
• Mission and Vision : Define your business’s long-term mission and vision statements.
• Business Goals : List specific short-term and long-term goals for your grant writing business.

Market Research

• Industry Analysis : Provide an overview of the grant writing industry, including trends, challenges, and growth prospects.
• Target Market : Define your ideal clients, including nonprofits, government agencies, or specific industries.
• Competitive Analysis : Identify key competitors, their strengths and weaknesses, and how you plan to differentiate your services.
• SWOT Analysis : Conduct a SWOT analysis to evaluate your business’s strengths, weaknesses, opportunities, and threats.

Services and Solutions

• Service Offerings : Detail the grant writing services you provide, including proposal writing, research, and consulting.
• Pricing Strategy : Describe your pricing structure, including rates, packages, and discounts.
• Value Proposition : Explain your unique value to clients and how your services address their needs.

Marketing and Sales

• Marketing Strategy : Outline your marketing plan , including online and offline strategies, content marketing, and social media.
• Sales Strategy : Describe your sales approach, lead generation methods, and the sales team’s structure (if applicable).
• Client Acquisition : Explain how you intend to acquire and retain clients, highlighting your unique selling points.

See How to Write a Business Plan for information on creating your business plan.

11. Banking Considerations

Choosing the Right Bank for Your Grant Writing Business

Regarding your grant writing business, the choice of bank matters. Here’s why:

1. Local Focus on Small Businesses

Opt for a nearby bank with a strong commitment to supporting small businesses. They understand your unique needs.

2. Business Account Benefits

Having a dedicated business account offers multiple advantages:

• Expense Tracking : Separating personal and business transactions makes expense tracking a breeze.
• Accurate Reporting : Maintaining a clean ledger ensures accurate financial reporting.
• Simplified Tax Filing : Come tax season, you’ll have everything neatly accounted for.

3. Building a Professional Relationship

Establishing a professional connection with your banker goes a long way:

• Financial Advice : Your banker can provide valuable financial guidance tailored to your business.
• Streamlined Transactions : They can help streamline loan applications and other financial services.

4. Embracing Card Payments

Consider having a merchant account or online service for card payments:

• Increased Sales : Accepting credit and debit cards can boost sales.
• Customer Convenience : It makes transactions more convenient for your clients.

Choosing the right bank and financial services sets a strong foundation for your grant writing business’s financial success.

For more, see How to Open a Business Bank Account. You may also want to look at What Is a Merchant Account and How to Get One.

12. Getting the Funds for Your Operation

Tips for Securing Funding for Your Grant Writing Business

If you need a loan to kickstart your grant writing business, consider these options:

• Traditional Lenders : Banks and credit unions often offer business loans with various terms and interest rates.
• Private Loans : Seek loans from family, friends, or private lenders willing to invest in your venture.
• Investors : Attract potential investors who believe in your business idea and are willing to provide financial support.
• Asset Sales : Sell assets you own to generate capital for your business.

When meeting with a loan officer, consider the following:

• Business Plan : Prepare a detailed business plan outlining your grant writing services, target market, and financial projections.
• Credit History : Ensure your personal and business credit histories are in good standing.
• Collateral : Be ready to discuss any assets you can use as collateral for the loan.
• Financial Statements : Provide financial statements, including income statements and cash flow projections.
• Use of Funds : Clearly define how you intend to use the loan proceeds.
• Repayment Plan : Present a well-thought-out repayment plan, showcasing your ability to meet loan obligations.
• Legal Documentation : Be prepared to provide legal documents such as business licenses and registrations.
• Personal Information : Your loan officer may request personal information, including tax returns and identification.

A sample list of documents needed to apply for a NEW business loan:

• Business Plan
• Credit Report
• Personal and Business Tax Returns
• Financial Statements
• Collateral Information
• Repayment Plan
• Legal Documents
• Personal Identification

Prepare thoroughly and demonstrate your business’s viability to increase your chances of securing the funding needed to launch your grant writing business.

For more, see the following:

• Getting a Small Business Loan
• Search: Grant Writing Business Start-up Loans
• Search: Grants For a Grant Writing Business

13. Software Setup

When selecting software for your grant writing business, thorough research is essential.

Implementing a program from scratch is far easier than switching systems after your data is already in another program.

Look for a company with a solid history, ensuring dependable future support. Take advantage of demos to test the software before committing. Software reviews and forums provide valuable insights from other users.

Additionally, consider software for expense tracking and financial document preparation for tax filing.

Consulting with a bookkeeper or accountant can aid in choosing the right accounting software tailored to your grant writing business.

Software types for grant writing business management and operations may include:

• Grant Writing Software : Specialized tools to streamline the grant application process.
• Project Management Software : Track grant projects, deadlines, and team collaboration.
• Accounting Software : For financial management, expense tracking, and tax preparation.
• Customer Relationship Management (CRM) Software : To manage client relationships and communications.
• Document Management Software : Organizing and securely storing grant proposals and related documents.
• Marketing Software : Tools for online marketing and client outreach.
• Time Tracking Software : For monitoring billable hours and project progress.
• Communication Tools : Email clients, video conferencing, and messaging apps for client interactions.
• Expense Tracking Software : To monitor business expenses and budgets.
• File Backup and Storage Solutions : Cloud-based services to ensure data security and accessibility.

Choose software that aligns with your business needs, streamlines operations, and enhances productivity in your grant writing endeavors.

Check out Google’s latest search results for software packages for a grant writing business.

14. Get The Right Business Insurance

Having the right insurance in place for your grant writing business is non-negotiable.

Unforeseen incidents can occur anytime, and the right insurance safeguards your business, clients, employees, and assets.

• General Liability Insurance : Protecting against accidents or injuries on your premises.
• Professional Liability Insurance : Safeguarding you against lawsuits related to your grant writing services.
• Property Insurance : Covering physical assets like computers, office furniture, and documents.
• Business Interruption Insurance : A lifeline in case of involuntary shutdown due to incidents.
• Home-Based Business Insurance : If you work from home, inform your home insurance agent to prevent nullifying your policy.

Consult a competent insurance broker to ensure you have adequate coverage tailored to your grant writing business’s needs. Being prepared with the right insurance provides peace of mind and financial security in case of unexpected events.

For more, see What to Know About Business Insurance . You can also browse the latest Google search results for grant writing business insurance .

15. Suppliers and Service Providers

Selecting Suppliers and Service Providers for Your Grant Writing Business

Establishing a reliable network of suppliers and service providers is essential when establishing a grant writing business. Here’s a list of items and services you might need from them:

• Office Supplies : Reliable sources for paper, pens, notebooks, and other stationery.
• Computers and Software : Suppliers for computers, laptops, and essential software applications.
• Internet Service Provider : A reliable internet connection is fundamental for an online-based business.
• Website Hosting : Hosting services to keep your website accessible and secure.
• Printers and Scanners : Equipment suppliers for printing and scanning documents.
• Marketing and Advertising Services : Graphic designers, advertising agencies, or freelancers to assist with promotional materials.
• Legal Services : Lawyers for contract review and legal advice.
• Accounting Services : Certified accountants or bookkeepers for financial management.
• Office Furniture Suppliers : Furnishing providers for desks, chairs, and storage solutions.
• Insurance Providers : Insurance companies for business liability and coverage.

Building strong relationships with suppliers and service providers is essential for business success. They can offer competitive prices, ensure a steady supply of necessary items, and contribute to your overall efficiency.

Respecting and benefiting them financially fosters trust and strengthens these crucial partnerships.

For More, See How To Choose a Supplier.

16. Setting Prices

Researching pricing when starting a grant writing business is paramount for several reasons. Firstly, it ensures a competitive edge.

Setting prices too high can deter potential clients, leading to lost sales.

Conversely, overly low prices might attract more customers but hinder profitability, making it challenging to cover expenses. Striking the right balance aligns your rates with the current market while emphasizing the value you offer.

This attracts clients and ensures you can sustain and grow your grant writing business while providing top-notch service. Pricing research guides your business toward a profitable and sustainable path.

See the following for more:

• Setting the Price of Your Products and Services
• Search Results for Pricing Strategies for a Grant Writing Business.

17. Physical Setup

Overview of a Grant Writing Business Setup

When establishing a grant writing business, even in the online realm, the layout and setup play a pivotal role in your operational efficiency and professionalism.

Signage: Making Your Presence Known

• Main Business Sign : Begin with a prominent sign showcasing your business name and logo. This is your virtual storefront, making a memorable first impression.
• Directional Signs : Install signs in relevant locations like parking lots, exits, and special areas. These guide clients smoothly through your digital landscape, ensuring they easily find what they need.

Office Setup: The Heart of Productivity

• Organization : Managing a grant writing business can be time-consuming. An organized office is the cornerstone of productivity. Ensure everything has a designated place, from documents to office supplies.
• Equipment : Invest in essential equipment like a reliable computer, printer, scanner, and comfortable ergonomic furniture . These are your tools of the trade, and their quality directly impacts your work.
• Software : Equip your computer with necessary software, including word processing, project management, and accounting tools. This ensures seamless business operations.
• Storage Solutions : Implement effective storage solutions for both physical and digital documents. Properly labeled files and digital organization systems streamline your workflow.
• Communication : Set up efficient communication channels, including email, phone, and video conferencing tools for client consultations.
• Internet Connection : A high-speed internet connection is paramount for online research and communication.
• Security Measures : Implement robust cybersecurity measures to safeguard sensitive client data and maintain trust.
• Ergonomics : Invest in ergonomic office furniture and accessories to create a comfortable and productive workspace.

In conclusion, setting up a grant writing business, even online, is crucial for conveying professionalism, enhancing productivity, and maintaining client trust.

Well-designed signage and an organized, fully equipped office are essential elements.

See Here are Considerations for The Setup of Your Office for tips and ideas to make your office work for you. Also, have a look at our article About Company Signs.

18. Creating a Website

The Vital Role of a Website

In the realm of grant writing businesses, having a website is non-negotiable. Here’s why it’s a pivotal asset:

1. Central Point of Contact

Your website is the primary hub for potential clients to learn about your services, expertise, and contact details.

2. Ownership and Control

Unlike social media profiles, your website is entirely owned and controlled by you when you register and host a domain name, ensuring independence and stability.

3. Marketing Powerhouse

Your website is a potent marketing tool. Utilize it to your advantage.

4. Blogging for Trust

Maintaining an active blog on your website allows you to share industry insights, tips, and expertise tailored to your audience. This positions you as an authoritative figure and builds trust among potential clients.

In summary, a well-structured website is more than an online presence—it’s the cornerstone of your grant writing business, a platform for client engagement, and a tool for establishing trust and expertise within your industry.

For more, see How to Build a Website for Your Business .

19. Create an External Support Team

Building Your External Support Team

Creating an external support team of professionals is a strategic move for your grant writing business.

These experts provide advice and services without being on your payroll, expanding your business’s capabilities. Here’s how to build your support team:

1. Identify Key Roles

Determine the essential roles required to complement your grant writing business. Consider an accountant, lawyer, financial advisor, marketing specialist, and technical advisor.

2. Establish Relationships

Start by working with professionals in these fields. Collaborate on project tasks or consult hourly to build trust and rapport.

3. Formalize Agreements

Once you’ve established trust and dependability, formalize your relationships with contracts or retainer agreements. Clearly outline the scope of work and terms.

4. Ongoing Networking

Continuously expand your external support team. Attend industry events, network, and seek recommendations to identify new professionals who align with your business needs.

5. Strategic Engagement

Engage team members strategically for specific projects or tasks where their expertise is required, optimizing cost-effectiveness.

6. Nurturing Relationships

Cultivate professional relationships over time. Regularly communicate, seek advice, and maintain a strong rapport with your support team.

7. Adapt and Grow

As your grant writing business evolves, adjust your support team to meet changing needs. Consider additional roles or specialists when required.

Building an external support team is an ongoing process that enhances your business’s capabilities and resilience. These professionals provide valuable expertise, enabling your grant writing business to thrive.

For more, see Building a Team of Professional Advisors for Your Business.

20. Hiring Employees

The following are job positions or outsourced services you may want to consider as your grant writing business grows:

• Grant Writers : Additional grant writers to handle a higher volume of projects.
• Administrative Assistant : To manage paperwork, emails, and scheduling.
• Marketing Specialist : To enhance your online presence and promote services effectively.
• Accountant/Bookkeeper : To handle financial records, taxes, and payroll.
• Research Analyst : To assist in gathering data and information for grant proposals.
• Customer Service Representative : To handle client inquiries and maintain client relationships.
• Legal Counsel : For contract review, compliance, and legal matters.
• IT Support : Manage technical aspects, including website maintenance and data security.
• Content Writer : To produce blog posts, articles, and marketing materials.
• Social Media Manager : To maintain and expand your social media presence.
• Graphic Designer : For creating visually appealing proposals and marketing materials.
• Public Relations Specialist : To manage your public image and media relations.
• Virtual Assistant : For tasks that can be outsourced, like data entry and research.
• Human Resources Manager : If you have a growing team, HR can handle hiring, onboarding, and employee relations.
• Business Development Manager : To explore new opportunities and partnerships.
• Project Manager : To oversee multiple grant projects and deadlines.

As your grant writing business expands, consider hiring or outsourcing these roles to maintain efficiency, professionalism, and quality of service.

Each position plays a crucial role in the growth and success of your business.

For more, see How and When to Hire a New Employee.

21. Getting Customers Through the Door

When you have reached this step, your business is set up and ready to go, with one more final step, which is important: getting customers through the door.

There are numerous ways to do this, like advertising, having a grand opening , word of mouth, etc.

Let’s dig a little deeper into the following sections.

Marketing Considerations

A grant writing business without customers is essentially just an idea. Success hinges on attracting the right clientele, especially in the early stages when your presence is unknown.

However, building a strong reputation over time and gaining marketing experience will ease this challenge. Marketing is a continuous effort that directly impacts revenue.

While you don’t always need a marketing agency, consider it if the fit is right. Simplify your marketing approach by focusing on raising awareness whenever the opportunity arises.

Simple methods to promote your grant writing business:

• Social Media : Establish a presence on LinkedIn, X, and Facebook platforms. Share valuable content and engage with potential clients.
• Networking : Attend industry events, join local business groups, and network online to build relationships and referrals.
• Content Marketing : Create a blog or resource section on your website. Share informative articles and guides related to grant writing.
• Email Marketing : Build an email list and send your subscribers newsletters with updates, tips, and success stories.
• Online Directories : List your business on relevant online directories and platforms like Yelp and Google My Business.
• Client Testimonials : Showcase satisfied client testimonials on your website and marketing materials.
• Community Involvement : Participate in community events or offer free workshops on grant writing to establish a local presence.
• Partnerships : Collaborate with related businesses, as mentioned earlier, for referrals and mutual promotion.
• Online Ads : Consider pay-per-click advertising on Google or social media platforms to reach a broader audience.
• Optimize Website : Ensure your website is user-friendly, mobile-responsive, and search engine optimized to appear in relevant online searches.
• Webinars and Workshops : Host online webinars or workshops to demonstrate your expertise and attract potential clients.
• Cold Outreach : Reach out to potential clients via email or phone with tailored proposals and offerings.

Remember, the key is consistency and adaptability. Evaluate the effectiveness of each method and adjust your marketing strategy as needed to maximize your reach and impact.

See How To Get Customers Through the Door and our marketing section to provide ideas to help you bring awareness to your business.

Sample Ad Ideas:

1. Sample Ad: “Unlock Funding Opportunities with Expert Grant Writers!”

Tap into grants for your business success. Our seasoned grant writers will guide you through the process. Contact us today!

2. Sample Ad: “Your Grant Writing Partner – Turning Visions into Reality!”

Transform your projects into reality with our grant writing expertise. Let’s secure your funding together. Inquire now!

3. Sample Ad: “Grants Made Easy – Your Path to Financial Support!”

Navigating grants can be challenging. We simplify the process. Get started with us and secure the funding you need.

4. Sample Ad: “Grant Success Guaranteed! Join Our Winning Team!”

Join our portfolio of successful grant recipients. Discover how our experts can elevate your grant proposals to triumph!

5. Sample Ad: “Funding Dreams Starts Here – Your Grant Writing Partner!”

Dream big, fund bigger! Partner with us for grant writing excellence. Let’s make your vision a funded reality.

Creating strategic partnerships with other businesses can be beneficial for growing your grant writing business. Here are some types of businesses you can approach for collaboration:

• Nonprofit Organizations : Nonprofits often require grant writing services to secure funding. Building relationships with local nonprofits can lead to referrals as they encounter grant-related needs.
• Accounting Firms : Accountants and CPAs may have clients needing grant funding for their businesses or nonprofit organizations. A referral fee arrangement can incentivize them to refer clients to your grant writing services.
• Law Firms : Law firms, especially those specializing in business or nonprofit law, often come across clients seeking grants. Establish partnerships with them and offer referrals in return.
• Consulting Firms : Management or strategic consulting firms may have clients seeking grants to support their projects. Collaborate with them and offer to refer clients who require their services.
• Chambers of Commerce : Local business chambers often connect businesses within a community. They can refer startups or small businesses to your grant writing services in exchange for promoting chamber events or services to your clients.
• Marketing Agencies : Marketing agencies seeking to expand their service offerings can partner with you to provide grant writing services to their clients. This can enhance their portfolio and generate referrals.
• Educational Institutions : Colleges and universities can refer faculty, researchers, or students seeking research grants or educational funding opportunities. Consider offering workshops or training programs in return.
• Technology Incubators : Incubators and accelerators nurture startups that may require grants for growth. Collaborate with them and offer referrals to startups that could benefit from their services.
• Social Media Influencers : Partner with influencers in the business or nonprofit sector. They can promote your grant writing services to their followers in exchange for exposure or referral fees.
• Government Agencies : Some government programs require grant applications. Establish connections with relevant agencies, and they may refer individuals or businesses seeking grants.
• Networking Groups : Attend local business networking events and join industry-specific groups. These connections can lead to referrals and partnerships.
• Financial Institutions : Banks or credit unions may have clients seeking grants for business expansion. Explore opportunities to collaborate and cross-refer clients.

When approaching these businesses for partnerships, consider creating a win-win arrangement. Offer referral fees, reciprocal referrals, or promotional opportunities that benefit both parties.

Building strong relationships and providing excellent service will encourage ongoing referrals and mutual success.

Points To Consider

Next, let’s review essential points for more tips, insights, and considerations before starting your grant writing business.

We will cover sections, including skills to consider, points to focus on, and equipment. Then you’ll reach the “Knowledge Is Power,” section, where you will want to use the resources for valuable information.

A List of Equipment and Supplies to Consider for a Grant Writing Business:

A grant writing business requires minimal equipment, mostly standard office supplies and some technology tools. Here’s a detailed list:

• Computer : A reliable desktop or laptop computer for research, writing, and communication.
• High-Speed Internet : A stable internet connection for online research, client interactions, and submitting grant applications.
• Printer : A printer for producing hard copies of documents and grant proposals when necessary.
• Scanner : To digitize documents, especially signatures and other physical materials required for grant applications.
• Telephone : A business phone line or mobile phone for client consultations and communication.
• Headset : A comfortable headset for clear audio during phone or video calls.
• Desk and Chair : Ergonomic office furniture for a comfortable workspace.
• Filing Cabinet : To organize and store essential documents, grant applications, and client records securely.
• Stationery : Basic office supplies such as pens, pencils, notepads, and paper.
• Binders and Folders : For organizing and presenting grant proposals and documents professionally.
• Whiteboard or Corkboard : For project planning, task management, and keeping track of deadlines.
• Shredder : To dispose of confidential or sensitive information securely.
• Backup Storage : External hard drives or cloud storage solutions for data backup.
• Software : Essential software programs include word processing (e.g., Microsoft Word), spreadsheet (e.g., Microsoft Excel), and presentation (e.g., Microsoft PowerPoint) software. Additionally, you may need project management tools, accounting software, and client management software.
• Email Client : A professional email client for efficient communication.
• Projector and Screen : If you plan to host workshops or presentations.
• Security Software : Antivirus and firewall software to protect your computer and data.
• Video Conferencing Tools : Software like Zoom or Microsoft Teams for virtual meetings with clients or team members.
• Digital Camera : For capturing images or documenting events if needed for grant applications.
• Reference Books and Subscriptions : Industry-specific reference materials and subscriptions to grant databases or resources.
• Business Cards : To distribute during networking events and meetings.
• Office Decor : Items like artwork, plants, or decorations to create a pleasant workspace.

Remember that the specific equipment you need may vary depending on the scale and scope of your grant writing business and your personal preferences. This list covers the essentials to ensure a productive and professional workspace.

Key Points To Succeeding in a Grant Writing Business

Operating a successful grant writing business demands strategic focus and attention to various key points:

• Niche Specialization : Concentrate on a specific grant writing niche to establish expertise and attract a targeted client base. This sets you apart in a competitive market.
• Customer Base Building : Gaining clients can be challenging in the startup phase. Invest in marketing, networking, and showcasing your expertise to expand your customer base gradually.
• Relationship Building : Forge strong relationships with customers, suppliers, and employees. Trust and reliability are pillars of long-term success.
• Tailored Offerings : Provide products and services aligned with customer needs. Regularly solicit feedback to refine your offerings and stay relevant.
• Customer Feedback : Act on credible customer feedback to enhance your operations. This valuable input can provide a competitive edge.
• Customer Service Excellence : Prioritize top-notch customer service; your customers are your business’s lifeblood. Satisfied clients become loyal advocates.
• Value-Centric Approach : Continuously focus on delivering value to customers. Ensure that your services meet or exceed their expectations.
• Skilled Team : Hire the right people for each role. A capable team is pivotal to business success, contributing to efficiency and client satisfaction.
• Effective Staff Management : Treat your staff respectfully, foster teamwork, and create a positive work environment. Employee retention is crucial.
• Financial Management : Master cash flow management to maintain financial stability, enabling steady operations and growth.
• Cost Efficiency : Keep costs low without compromising quality or customer service. Efficiency enhances profitability.
• Adaptability : Stay adaptable to industry, process, and technological changes. Adapting promptly is vital for sustainability.
• Revenue Fluctuations : Prepare for revenue fluctuations with a robust financial strategy, including savings and contingency plans.
• Competition Handling : Address new and existing competition through differentiation and continuous improvement.
• Effective Marketing : Implement effective marketing strategies to raise awareness. Marketing, whether in-house or professional, is essential for business growth.

Operating a grant writing business involves a multifaceted approach. You can navigate challenges, build a strong reputation, and succeed in this competitive industry by mastering these key points.

Evaluating your skill set for a grant writing business is vital. Without the necessary skills, success is elusive. If a crucial skill is lacking, consider learning or hiring expertise. Essential skills for a grant writing business owner include:

• Writing Proficiency : Excellent written communication is a must.
• Research Skills : Thoroughly researching grants and requirements.
• Project Management : Organizing and managing multiple grant applications.
• Communication : Effective interaction with clients and organizations.
• Budgeting : Understanding financial aspects of grant proposals.
• Networking : Building relationships in the industry.
• Time Management : Meeting deadlines is critical.
• Adaptability : Navigating changing grant landscapes.
• Technical Skills : Utilizing grant software and tools.
• Analytical Thinking : Assessing project feasibility and impact.
• Ethical Integrity : Upholding ethical standards in grant writing.
• Marketing : Promoting your services effectively.
• Negotiation : Securing the best terms for clients.
• Problem-Solving : Addressing challenges creatively.
• Funding Knowledge : Staying updated on grant sources.
• Attention to Detail : Eliminating errors in proposals.
• Cultural Competency : Understanding diverse grant requirements.
• Strategic Planning : Developing long-term grant strategies.
• Legal Awareness : Knowledge of relevant regulations.
• Self-Motivation : Maintaining drive and enthusiasm.

Assess your proficiency in these areas to ensure a strong foundation for running a successful grant writing business.

Knowledge Is Power if You Use It!

Utilize knowledge as a powerful tool—access valuable industry information through provided links for the startup and operational phases of your business.

Trends and Statistics

Monitoring industry trends and statistics is essential for a grant writing business to adapt, identify opportunities, and make informed decisions.

See the latest search results for trends and statistics related to the grant writing industry.

Grant Writing Associations

Trade associations provide benefits like industry news updates and networking opportunities for professionals.

See the search results related to grant writing associations and the benefits of Joining the Chamber of Commerce.

The Top Grant Writing Businesses

Analyzing an established grant writing business can spark ideas, identify industry gaps for a competitive edge, and reveal overlooked services offered by competitors.

See the latest search results for the top grant writing businesses.

The Future of Grant Writing

Researching the industry’s future is crucial for aspiring grant writing business owners. It helps anticipate trends, challenges, and opportunities, guiding informed decisions.

See the search results for the future of the grant writing industry.

Customer Expectations

Examining search results for customer expectations in grant writing offers valuable insights to meet and exceed their needs. Uncover unaddressed issues and optimize your approach.

See the search results related to customer expectations for grant writing.

Expert Tips

Expert tips benefit both novices and experts in skill enhancement. Experts may discover new approaches, while novices gain valuable knowledge to improve their skills.

See the latest search results for grant writing to gain tips and insights.

Grant Writing Business Insights

Reviewing tips and insights can uncover valuable ideas and pitfalls to avoid, enhancing your grant writing business and industry knowledge.

See the latest search results about insights into running a grant writing business.

Grant Writing Publications

Publications are a vital source for the latest grant writing insights and ideas. Stay updated with valuable information in the field.

See the search results for grant writing publications.

Grant Writing Forums

Engage in grant writing forums to foster connections and gain insights. These platforms facilitate customer perspective understanding for improved business understanding.

See the latest search results related to grant writing forums.

Enroll in online or local courses to effectively enhance grant writing skills and business knowledge.

See the latest courses that could benefit a grant writing business owner . Also, see our management articles for tips and insights for managing your business.

Grant Writing Blogs

Subscribe to leading grant writing blogs for insights and updates. Curate your collection, ensuring value and relevance. Stay informed in the grant writing industry.

Look at the latest search results for top grant writing blogs to follow.

Grant Writing News

Stay updated on grant writing through news outlets. They cover relevant stories, providing valuable insights.

See the latest results for grant writing news.

Watching YouTube videos on grant writing is valuable for improving your knowledge in this area. Explore and learn more here: YouTube videos related to grant writing.

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More From Forbes

How To Get A Grant For Your Small Business

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Seeking out grant funding is an often untapped opportunity in the entrepreneurial world. While there are complexities involved in the application process, the benefits of obtaining grant money for your small business are potentially vast—ranging from funding for starting a new venture to ramping up your company’s growth.

Small business owners often miss out on opportunities because they feel like the application process is just too cumbersome. Other times, it's because they believe they won't be eligible for a grant. But wouldn't it be a shame to miss out on assistance that could make all the difference?

Take some time to do the research and see what grants and resources are available to you. Chances are, there are programs out there that you qualify for, and with a little effort, you could be on your way to receiving the help you need to take your business to the next level.

Grants vs. Loans and Other Funding

It’s important to note that a grant is not a business loan , and as such, it does not require repayment or equity transfer. Grants consist of funds distributed for a specific purpose, typically defined by the grant program, such as research, community development, or economic expansion. This monetary gift represents a compelling reason for entrepreneurs to pursue grants as part of their financial strategy—it’s essentially free money to grow your business.

Eligibility Criteria for Small Business Grants

Grant eligibility criteria vary widely depending on the provider and the nature of the grant. However, certain common elements typically form part of the eligibility requirements. These might include factors such as location, the industry or sector your business operates within, the number of employees, the type of business entity, and your business’s financial health.

Best High-Yield Savings Accounts Of 2024

Best 5% interest savings accounts of 2024.

Common eligibility requirements:

• Business size and legal structure
• Business location and operation domain
• Business industry or niche
• Project or program specifics
• Financial needs and plan

Preparing a Compelling Small Business Grant Application

Crafting a successful grant proposal is a multi-step process that requires a strategic approach. Remember, competition for grants is often fierce, and a well-prepared proposal is your key to standing out.

A standard grant proposal includes the following sections:

Business overview and mission: Clearly outline your business’s mission and the purpose of the grant request within this context.

Project description: Define your project’s goals, scope, and anticipated outcomes, showing how the grant will support these initiatives.

Budget and financing plan: Lay out a detailed budget illustrating how the grant money will be used to achieve the project’s objectives.

Impact and benefit analysis: Articulate the broader impact and potential benefits your project will have on the community, industry, or economy, in alignment with the grantor’s mission.

Sustainability plan: Detail how the positive impacts of the project will continue beyond the grant period, ensuring lasting value.

Navigating the Application Process

Each grantor will have specific application guidelines that you must follow meticulously. This typically involves completing an application form, attaching required documents, and submitting the proposal within a given timeframe. Be mindful of deadlines and consider starting the application well in advance to avoid rushing the process.

Writing a Persuasive Grant Proposal

When writing your grant proposal , focus on addressing the funder’s key concerns, showcasing a clear alignment between your business’s activities and the grantor’s mission, and compelling storytelling that highlights the impact of your intended project. Data-driven arguments and evidence of past success can also bolster your proposal.

Overcoming Common Obstacles in the Grant Application Journey

Even with diligent preparation, the road to securing a grant can be fraught with obstacles. Being aware of these challenges and knowing how to overcome them is crucial to your success.

Establishing a solid business case

Grant providers are looking to support initiatives that have a strong likelihood of success. This means you must demonstrate the viability of your business and the project, complete with a strategic plan, market research, and any relevant track record your team has.

Articulating the right message

Effective communication with the grantor requires you to tailor your pitch to their preferences, priorities, and language. Engaging with the grantor prior to the application can provide valuable insights on how to properly frame your proposal.

Managing the application volume

Applying for multiple grants can be a time-consuming process. In such cases, consider establishing a system for managing the application process, including a calendar with important dates, reusable templates, and a clear distribution of tasks among team members or partners.

The bottom line is that the world of small business grants is rich with opportunities for ambitious entrepreneurs willing to invest the time and effort in this pursuit. By understanding the nuances of the grant application process, aligning your business goals with potential funding sources, and maintaining a strategic approach to securing and deploying grant money, you can position your venture for growth and success.

Melissa Houston, CPA is the author of Cash Confident: An Entrepreneur’s Guide to Creating a Profitable Business . She is the founder of She Means Profit, which is a podcast and blog . As a Finance Strategist for small business owners, Melissa helps successful business owners increase their profit margins so that they keep more money in their pocket and increase their net worth.

The opinions expressed in this article are not intended to replace any professional or expert accounting and/or tax advice whatsoever.

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Run » business financing, 63 grants, loans and programs to benefit your small business.

When you know where to look, help for your small business is there for the taking.

Whether you’re starting a new small business or looking to grow the one you already own, finding funding can be a challenge for businesses of all sizes. If you’re looking for a small business loan or grant, CO— is here to help.

Each week, we update this list of loans, small business grants, or other opportunities to connect with programs and organizations that can help you with your business. Come back often to see the latest. And, if your organization has a program or grant you’d like to see listed here, email us at [email protected] .

If you’re not sure of the difference between a loan and a grant, check out our explainer here . You can also learn more about all funding options in our small business financing guide here .

Government grants

Begin your search for a grant from the federal government at Grants.gov . This government site offers the most comprehensive database of funds the government is going to give away. There are thousands of grants to apply for, with opportunities for companies from all backgrounds.

Keep in mind that not all assistance flows directly from the federal government to small businesses. Some funds are distributed to state and local governments and agencies, nonprofit organizations, and institutions of higher learning. These entities, in turn, distribute the funds or use them to provide technical or educational assistance on a local level.

In addition to the programs listed here, be sure to check with your state and local governments and use the resources listed below. When searching through grant and contracting options, note that you may qualify for more than one program.

As illustrated by the following sampling of grants, the assistance available to you from the government will vary, depending on your specific situation.

• The Blueprint Medtech Small Business Translator Grant. This is a government grant for small businesses working on creating medical devices to treat nervous system disorders. It supports activities like making prototype devices, safety testing, and clinical studies to get approval from the FDA. The grant is a cooperative program where the NIH helps plan and monitor the research. It also provides funding and access to experts for things like regulations, patents, and manufacturing. Small businesses with their device ideas or collaborations with manufacturers can apply for this grant to advance their projects. The next deadline to apply is September 27, 2024.
• Employee Retention Credit. The Employee Retention Credit (ERC), sometimes called the Employee Retention Tax Credit, is a stimulus program established by the CARES Act. This refundable tax credit functions as a grant that helps businesses impacted during the COVID-19 pandemic. Eligibility guidelines are available on the IRS website .
• Illinois Infrastructure Grants. In 2020, Governor Pritzker launched an initiative to improve Illinois' infrastructure. $3 billion of this was allocated for capital grants through the Department of Commerce and Economic Opportunity (DCEO) . These capital grants, part of Illinois' $45 billion infrastructure initiative, are designed to support various projects that benefit local communities and businesses. The DCEO maintains a transparent list of these grants, which can be either general or specific project grants. You can find more information about these grants on the GATA website .
• The Minnesota Emerging Entrepreneur Loan Program (ELP). ELP is an initiative aimed at supporting the growth of Minnesota businesses owned by minorities, low-income individuals, women, veterans, and persons with disabilities. The program provides grant funds to nonprofit lenders across the state, which in turn offer loans to startup and expanding businesses. These loans not only foster business development but also aim to create jobs for minority and low-income individuals, strengthen minority-owned enterprises, and boost economic growth in disadvantaged areas. To participate in the program, eligible businesses must apply through certified nonprofit lenders, with DEED assisting in lender identification if needed, and loans are subject to DEED's approval.
• National Institute of Health Grants . The National Institute of Health (NIH) is currently funding grant opportunities related to COVID-19 research. These grants are reserved for small businesses that develop and research biomedical technology. There are multiple grants available with deadlines throughout 2024 and beyond.
• NIDILRR's SBIR program . The SBIR program aims to support organizations to help advance technology and research, as well as support the social/economic benefits for the nation. The SBIR will be backing the National Institute on Disability, Independent Living, and Rehabilitation Research (NIDILRR) through the Administration for Community Living (ACL) to provide 10 grants that support the improvement of the lives of those with disabilities. The total grant funding is estimated to be $1 million, and an outline of the available grants under this program can be found on the ACL website.
• San Francisco Accessibility Grant. Small business owners in San Francisco can apply for a grant to enhance accessibility in their establishments. The grant can cover expenses like accessible equipment, construction to remove ADA barriers, CASp inspections, design services, and relevant permit fees, with a maximum grant amount of $10,000. Eligible businesses must be registered in San Francisco, have less than $2.5 million in gross revenue for a single location, and employ an average of 100 or fewer employees. The application process is fast, and applicants can expect a response within 15 days of submission. Upon approval, they will need to provide proof of payment and photos showcasing accessibility improvements.
• Small Business Innovation Research Program (SBIR) . The SBIR offers grants to small businesses so they can participate in federal research and development with the potential for commercialization. It’s a highly competitive awards-based program that helps businesses achieve scientific excellence and technological innovation. To qualify for SBIR grants, you must operate a for-profit company and satisfy other requirements.
• Small Business Technology Transfer Program (STTR) . Similar to SBIR, the STTR program focuses on funding research in the R&D arena. However, what separates the STTR is the requirement that the small business has a formal collaboration with a research institution. To qualify for STTR grants, you must operate a for-profit company and satisfy other requirements.
• Texas Enterprise Fund (TEF). The Texas Enterprise Fund (TEF) offers "deal-closing" grants to companies competing with out-of-state sites for new projects in Texas. These grants are based on performance, encouraging significant capital investment and job creation. Eligible companies must meet criteria related to job creation, capital investment, financial stability, and local support. Once approved, grantees sign contracts committing to job and wage targets, with clawback provisions in case of non-compliance. The application process includes a thorough screening, and unanimous support from top state officials is required for approval.
• U.S. Department of Agriculture Rural Development Business Programs. The USDA’s Rural Development Business Programs provide financial support and technical assistance to promote rural business growth. They offer loans, grants, and guarantees with the goal of enhancing economic opportunities and job creation in rural communities; deadlines and eligibility requirements vary by program.
• U.S. Department of Commerce Minority Business Development Agency (MBDA) . Targeted grants and loans designed to aid minority-owned businesses are offered throughout the year. Minority-owned businesses can find information about local MBDA Business Centers at MBDA.gov .
• U.S. Department of Education (DOE) Grants. The U.S. DOE has various grants available to small businesses in the education sector. Each grant has unique eligibility criteria, with some opportunities set aside for public schools, state agencies, or nonprofit organizations; however, others allow applications from for-profit private sector companies. Deadlines for currently available DOE grants run through September 16, 2024.
• U.S. Small Business Administration State Trade Expansion Program (STEP) . Intended to assist small businesses desiring to export product, this program distributes federal funds through state entities . Small businesses that meet the criteria set by each state can use the financial assistance to participate in foreign trade missions and shows, obtain entry to foreign markets, develop websites, and design international marketing products or campaigns.
• U.S. Economic Development Administration (EDA) . The EDA is part of the U.S. Department of Commerce and offers ongoing funding opportunities for projects that support regional and national economic development. Applicants can apply for a variety of rolling-basis EDA investments that fund projects in construction, non-construction, planning, technical assistance, research and evaluation, higher education, and more.

As you would expect, acceptance of free money from the government comes with a fair amount of paperwork. Applying for a grant can be time-consuming and technical. You want to make sure, therefore, that you are eligible before applying. In addition to the legal and administrative prerequisites, there are ongoing reporting and auditing requirements.

Government contract assistance

The federal government spends billions of dollars on goods and services each year. A lot of that money is spent through a competitive bidding process. Programs have been put in place to assist some small businesses with the process, allowing them a better chance to compete for those federal dollars.

• Service-Disabled Veteran-Owned Small Business Program . The federal government seeks to award at least 3% of all federal contracting dollars to veteran-owned businesses annually, so this program helps with meeting that target. This federal contracting program offers assistance to small business owners who are service-disabled veterans . Eligible small businesses must be over 50% owned/controlled by one or more service-disabled veterans, have day-to-day operations and long-term goals managed by at least one service-disabled veteran and have a service-connected disability.
• Women-Owned Small Business (WOSB) Federal Contracting Program . The federal government seeks to award at least 5% of federal contracting dollars to women-owned small businesses annually. Through this SBA program , the Office of Women’s Business Ownership provides support to women entrepreneurs by offering business training, counseling, federal contracts and access to credit and capital. Their goal is to offer equal opportunities for all women in business.
• 8(a) Business Development Program . The purpose of this program is to assist small businesses owned by socially and economically disadvantaged entities. This is achieved by limiting competition for certain government contracts to businesses participating in the 8(a) business development program. To participate a business must be certified as an 8(a) entity.
• HUBZone Program . This program aids businesses in underutilized business zones by making them more competitive in regard to some government contracts. Businesses that join the HUBZone program can compete for set-aside contracts as well as receive preference on others, including a 10% price evaluation preference in open contract competitions.

Natural Resource Sales Assistance Program

In addition to the billions of dollars spent purchasing goods and services, the federal government also sells large amounts of natural resources and surplus property. The SBA Natural Resource Sales Assistance Program sets aside a percentage of these goods for bidding by small businesses only. In addition, federal agencies sometimes divide surplus materials into smaller parcels, making it easier for small businesses to purchase. The five categories are:

• Timber and related forest products.
• Strategic materials.
• Royalty oil.
• Leases involving rights to minerals, coil, oil and gas.
• Surplus real and personal property.

The program also provides training for small businesses on government sales and leasing.

General small business grants

There are many nonprofit and corporate entities offering grants and other assistance to small businesses. Here are a few such programs that are open to qualifying small businesses in any industry:

• 500 Global Flagship Accelerator Program . Startups and small businesses seeking funding can do so on a rolling, year-round basis with the 500 Global Flagship Accelerator program . Since 2010, this program has offered businesses the opportunity for a four-month accelerator program based in San Francisco in addition to a $150,000 investment. Rules for applying can be found on the company's website.
• Awesome Foundation Grants. Each month, the Awesome Foundation awards grants of $1,000 to individuals and groups looking to fund various projects. The Awesome Foundation is made of 84 independently-run chapters, with members contributing to a micro-funding pool that goes towards grant projects. Though funding is not limited to businesses, startups, and small businesses have been among the recipients of the monthly grants. Applications are accepted on a rolling basis.
• Bizee Entrepreneur Grant . Bizee (formerly Incfile) offers two grants to support aspiring entrepreneurs and students. The "Young Entrepreneur Scholarship Grant" provides $2,500 to a high school senior, undergraduate, graduate, or trade school student in the U.S. with a GPA of 3.0 or higher and an interest in starting a business. The "Fresh Start Business Grant" offers $2,500 and Bizee's Gold plan for free to adult entrepreneurs (21 years or older) in the U.S. planning to start a new business or significantly grow an existing one. Though dates for the next round of funding are "coming soon," entrepreneurs can review eligibility and application criteria in the interim.
• Faire Small Business Grant. The Faire Small Business Grant provides $5,000 grants to select new retail businesses to help them stock their stores and cover their inventory expenses. To be eligible, applicants must be U.S.-based and have opened their retail store in 2023-2024 or plan to open this year. Applicants are asked to submit a short video about their store concept and community involvement, along with a few business and financial details. Applications for the first cycle are open through August 31, 2024. Learn more and apply here .
• Fast Break for Small Business. The Fast Break for Small Business grant program, in collaboration with the NBA, WNBA, and NBA G League, offers small business owners and entrepreneurs the chance to win a $10,000 grant and/or up to $500 in LegalZoom products and services. Awarding a monumental $3 million in total grants and services, the initiative, currently in its third run, has already aided over 3,150 small businesses. The application window closes on September 13, 2024, at 8:00 p.m. ET.
• The Freed Fellowship Grant. U.S.-based small business owners can apply for a monthly $500 grant from The Freed Fellowship . Applicants are evaluated based on the 5C Framework, which assesses various aspects of applicants’ business. Along with the grant, applicants receive feedback on their business and a two-month free membership in the Freed Studio, a community of ambitious business owners. Grant recipients are also eligible for an end-of-year grant of $2,500.
• GoFundMe Small Business Relief Fund . GoFundMe’s Small Business Relief Fund will match $500 grants to qualifying small businesses that have been negatively impacted by COVID-19 and raise at least $500 through a GoFundMe campaign. The fund is backed by GoFundMe and corporations like Intuit QuickBooks, Yelp, GoDaddy, and Bill.com. Small business owners with existing campaigns can add the hashtag #SmallBusinessRelief to their campaign and fill out this form to confirm their business.
• Hustler’s Microgrant. The Hustler's MicroGrant offers $1,000 in funding to support passionate entrepreneurs in their small business ventures. Presented by Deja Vu Parker of WBLS and HerSuiteSpot, this grant provides financial assistance and resources to promising small businesses across the United States, helping them grow their operations. Applications are accepted monthly, and eligible small business owners are encouraged to apply.
• Skip Monthly Grants. Small business aggregator Skip offers monthly grants for U.S.-based small business owners and entrepreneurs; grants are typically set at $1,000, though the exact amount varies by Skip’s monthly YouTube revenue. To be considered, you must have a Skip account and add the monthly grant to your Funding Assistant, as well as be subscribed to Skip’s YouTube channel. Deadlines for the next round of grant applications are expected to be announced soon.
• Skip Instant Grants. Skip offers Instant Grants on a rolling basis, providing funding opportunities with shorter turnaround windows. These grants are announced a couple of days in advance and generally occur twice a month. Applicants are required to participate in Skip’s YouTube livestream during the selection process. Learn more about these ongoing funding opportunities by following Skip on social media.
• Small Business Digital Readiness Program. In partnership with Verizon, National ACE has developed a digital readiness program to help small business owners succeed in a digital world. The free online curriculum includes expert coaching, peer networking, and other resources to support your small business. Those who register for the program and take two courses are eligible for a $10,000 grant. This opportunity is rolling and you can learn more at the program’s webpage .
• Small Business Readiness for Resiliency Program. Small businesses often feel the effects of a natural disaster the hardest. It can be difficult when starting a business to suddenly have to raise money to repair a roof or attend to flood damage. To help offset some of these concerns and costs, the U.S. Chamber of Commerce Foundation and FedEx have teamed up to create the Small Business Readiness for Resiliency (R4R) Program. The program helps small businesses put plans in place to prepare for disaster and also provides immediate emergency funding when necessary. Businesses are asked to complete a four-step process to be eligible for funding opportunities.
• Walmart Spark Good Local Grants. Organizations can apply for the Walmart Spark Good Local Grants program provided by Walmart and Sam’s Club, which offers grants ranging from $250 to $5,000 to address the unique needs of local communities. Tax ID status determines eligibility, with 501(c)(3) charities, public entities, and educational institutions qualifying. Grant applications are accepted quarterly, with the current round open through October 15, 2024. All organizations must be Deed verified and have a Spark Good account to apply.

Industry-specific and diversity small business grants and programs

Some small business grant programs are confined to a specific entrepreneur demographic or business profile and they often have an application process that is easier to navigate. This is a sample list, so be sure to check with nonprofits and large corporations in your geographic area or industry.

• 2024 Black Girl Ventures Pitch Program. The 2024 Black Girl Ventures Pitch Program is designed to support Black and Brown entrepreneurs from Los Angeles, Chicago, and NYC by offering coaching, a live crowdfunded pitch competition, and networking opportunities. To qualify, applicants must be revenue-generating, in good standing, and located in the city for which they are applying. The remaining application deadlines are October 9 for NYC applicants and November 6 for Los Angeles applicants. Winners will receive cash prizes ranging from $5,000 to $15,000, as well as access to the BGV Connect Incubator and a new network of business owners and investors.
• Accion Opportunity Fund. The Accion Opportunity Fund grants small business loans ranging from $5,000-$250,000, along with educational resources, coaching, and support networks in both English and Spanish. This program offers mentorship programs, microloans, and a hubzone program for small business owners’ financial needs. Accion Opportunity Fund works with a clientele that is 90% diverse, has created and retained over 50,000 jobs, and has generated $1 billion in economic activity. Those interested in applying for a loan can do so here .
• Amazon’s Black Business Accelerator Program. If you're a seller in Amazon's store, you may be eligible for the Black Business Accelerator Program. Created to support Black entrepreneurs, the program offers financial support, mentorship, business advice, and promotional support. Eligible sellers will have access to free imaging services, cash grant opportunities, advertising credits, and money toward start-up costs. You can learn more about this opportunity at their website .
• Amazon Business Small Business Grant Program. Amazon Business’s third annual Small Business Grant Program is set to award over $250,000 this year to eligible U.S.-based small businesses. There will be one grand prize winner who will receive $25,000, along with four $20,000 finalists and 10 $15,000 semi-finalists. Grant recipients will also walk away with one year of free Business Prime membership, Amazon devices, and Amazon Basics products. Current Amazon Business customers with an annual revenue of $1 million or less are eligible to apply; applications are due on May 24, 2024, with winners announced on July 22, 2024.
• Amber Grant Foundation . With a simple goal of supporting women entrepreneurs, the Amber Grant Foundation was founded by WomensNet in 1998. The foundation awards a series of grants throughout the year, including the $10,000 Monthly Amber Grant, two $25,000 Annual Amber Grants, and $10,000 each quarter for The Startup Grant and The Non-Profit Grant, respectively. There are also 12 Business Category Grants — an additional $10,000 each month — with all eligible applications remaining active until the month of their specific category.
• America’s Seed Fund. America’s Seed Fund, sponsored by the National Science Foundation (NSF), offers up to $2 million for U.S.-based startups and small businesses that are developing innovative technology. Project pitches are accepted on a rolling basis, and official responses from NSF typically take one month.
• Backstage Capital. Backstage Capital supports underrepresented founders by investing in startups led by women, people of color, and LGBTQ+ entrepreneurs. They focus primarily on U.S.-based, scalable businesses with the potential for high growth. Investments typically range from $100,000 and up, predominantly targeting early-stage companies. Applications are reviewed regularly and feedback is provided to those not selected with encouragement to reapply in the future.
• Beyond Open Small Business Grants. This competitive grant program supports diverse-owned small businesses in the Charlotte, North Carolina area, offering funds for capital assets such as equipment, technology, inventory, and real estate, with a total of $15 million being awarded across three rounds. In 2023, Foundation For The Carolinas selected 116 small businesses in Charlotte's Corridors of Opportunity, which “supports six underinvested areas in Charlotte,” to receive a total of $4.8 million in grants from the Beyond Open program's second round, aiming to enhance economic mobility. Those interested in the 2024 Beyond Open funding can subscribe to learn more ahead of the open application period beginning on August 5, 2024.
• Binc Foundation Emergency Financial Assistance. The Binc Foundation provides emergency financial assistance to bookstore owners, booksellers, and comic store employees and owners facing unforeseen financial needs. Eligibility criteria include specific employment durations and financial hardship resulting from qualifying life events. Binc's assistance process involves a confidential application and documentation verification, aiming to help individuals regain financial stability.
• Carhartt For the Love of Labor Grant. Carhartt, a popular workwear distributor, created the Love of Labor grant program to help connect workers with trade programs in their local communities during an unprecedented labor shortage. Awards will be distributed on a rolling basis to “like-minded organizations” that are dedicated to the education, training, and placement of workers into trade jobs. Organizations with interest in the program can apply by reaching out to Carhartt directly. Nominations are accepted as well.
• Casper Accelerate Grant Program. The Casper Association aims to support the adoption of blockchain technology via Casper, a scalable blockchain network. To support innovation within the blockchain industry, Casper has opened the Casper Accelerate Grant Program. Those who want to build apps to support infrastructure, end-user applications, and research innovation are invited to apply. This $25 million grant program has a rolling application deadline, so you can apply anytime here .
• Child Care Business Opportunity Fund. The Child Care Business Opportunity Fund , offered by the Women's Business Development Council (WBDC) in partnership with the Connecticut Office of Early Childhood, offers grants of up to $25,000 to support child care businesses in Connecticut. These grants are designed to help both licensed and aspiring businesses at different stages, whether they're just starting or ready to expand. Eligibility differs based on each grant offering, with application deadlines running through November 15, 2024.
• Etsy Emergency Relief Fund. If you’re an Etsy business owner, you may be qualified to apply for relief funding courtesy of a partnership with CERF+, a nonprofit organization dedicated to helping artists prepare for and recover from emergencies and disasters. The partnership was established in 2017, and both companies continue to provide up to $2,500 in funding through the grant program. To apply, you must have been a registered Etsy business for at least one year and have been affected by a natural disaster. This grant opportunity is rolling.
• Female Founder World Grant . The Female Founder World Grant , offered by VistaPrint and Female Founder World , will award a $15,000 cash grant plus marketing support to one small business owner. To qualify, businesses must be part of the Female Founder World community, have annual revenue between $40,000 and $1,000,000 and fewer than 10 employees, and sell a physical product. The grant funding must be used for marketing, manufacturing, or research and development. Applications are open through September 17, 2024.
• Foundation for a Just Society Grants . Foundation for a Just Society offers grants to local, national, regional, and global organizations and networks that support the rights of women, girls, and LGBTQI individuals. Grants are issued four times each year (March, June, September, and November), with invitations for proposals extended two months prior.
• Galaxy Grants. Galaxy Grants is on a mission to support women and minority entrepreneurs with their small businesses by offering valuable resources, tools, funding, and knowledge. They are running a $4,250 Galaxy Grant Giveaway , sponsored by Hidden Star, a 501(c)(3) organization, with a quick 30-second entry process. The deadline to enter is September 30, 2024, and winners will be announced the following week. Plus, there's an opportunity to win for both you and a friend, as each of you could receive a $4,250 grant if your friend wins, subject to the Terms and Conditions.
• Hawai'i FoundHer Business Accelerator. The Hawai'i FoundHer Business Accelerator offers capital and resources to women-founded businesses in Hawai’i, focusing on AAPI and Native Hawaiian wāhine who have historically been overlooked. To qualify, businesses must be for-profit entities based in Hawai'i, with at least 51% ownership by women of Native Hawaiian, Pacific Islander, or Asian descent, and should be in the early stages of development. Applications are due by September 30, 2024, at 11:59 PM HST, and participants must engage in regular mentorship meetings, complete surveys, and attend various program events if selected.
• HerRise MicroGrant. The HerRise MicroGrant offers financial aid to U.S.-registered businesses that are majority-owned by women of color, with a focus on businesses with innovative community solutions that are still struggling to obtain funding. Applications are reviewed monthly, with winners announced during the subsequent month's HerSuiteSpot First Friday Mixer. Nonprofits, franchises, direct sellers, authorized resellers, and independent consultants are ineligible to apply.
• Hivers and Strivers Investment Program. As an angel investment group, Hivers and Strivers works to provide capital to qualifying businesses. Specifically, the investment group funds projects submitted by veteran-owned and veteran-led businesses. Funding opportunities can range from $250,000 to $1 million. Those who qualify can apply for funding for a business idea on a rolling basis, but businesses reliant on government contracts are not eligible to apply.
• IFundWomen Universal Grant Application. This is a resource for female entrepreneurs seeking grants . Through partnerships with brands like Visa, Caress, and Comcast, IFundWomen has deployed over $170 million in grants to entrepreneurs. Applicants gain priority access to funding opportunities and resources within the IFundWomen community.
• #MomsMeanBusiness. ZenBusiness, a company that helps others launch and run their own businesses, has created the #MomsMeanBusiness campaign to recognize the resilience of moms and celebrate their accomplishments. To help mothers take the first step toward entrepreneurship, ZenBusiness is covering business formation costs and will help entrepreneurs form an LCC, track expenses, secure a business name, and more. All mothers are eligible and costs will be covered for “every mom in America.” The program is rolling and you can sign up here .
• National Association for the Self-Employed (NASE) Growth Grants . According to its website, the NASE has distributed over $1,000,000 in grants to its members. Its growth grants provide up to $4,000 to assist with training, marketing, and more. You must be a member for 90 days before you are eligible to apply.
• Olga Loizon Memorial Foundation. The Olga Loizon Memorial Foundation offers grants of up to $10,000 to aspiring women entrepreneurs in Michigan who embody the passion and vision of Olga Loizon, the founder of metro Detroit's Olga's Kitchen. Applicants must have a business located in Michigan and demonstrate financial need through a personal statement; a formal business plan is also required. Applications are accepted on a rolling basis.
• Patagonia Corporate Grant Program . Patagonia’s corporate grant program offers between $10,000 and $20,000 of funding to nonprofits with missions to protect and preserve the environment. Though grants are awarded by invitation only, Patagonia accepts recommendations for organizations that meet program criteria.
• Queer To Stay. The Queer to Stay: LGBTQ+ Business Preservation Initiative supports LGBTQ+ small businesses that serve as crucial community spaces, particularly for LGBTQ+ people of color, women, and transgender individuals. The initiative is a collaboration between the Human Rights Campaign (HRC) and SHOWTIME®, providing financial support to at least 25 businesses demonstrating financial need and community impact. Eligible businesses must be U.S.-based, for-profit entities that primarily serve the LGBTQ+ community and have been financially impacted by COVID-19. Applications for this year's initiative are open until 11:59:59 p.m. on August 31, 2024.
• RTC Women in Tech Fund. Rewriting The Code (RTC) works to support college and early-career women in tech by providing them with opportunities to help disrupt gender and racial inequality in the industry. The RTC Women in Tech Fund provides financial resources to women enrolled in undergraduate tech programs to help cover costs that may be an obstacle to education. There are three different grants available depending on each applicant’s specific financial needs. All applications are accepted on a rolling basis.
• StartOut Scholarship Program . StartOut offers scholarship opportunities to LGBTQ+ entrepreneurs who wish to participate in their Founder Program and become a Giving Member. The initiative provides a 12-month membership for those LGBTQ+ entrepreneurs who have been underrepresented, underserved, and underestimated within their community.
• Supplier Innovative Finance Program. The Empire State Development’s Supplier Innovative Finance Program offers up to $5,000 in unrestricted grants to help socially and economically disadvantaged businesses (SEDI) in New York grow and access capital. In addition to funding, businesses can access educational resources designed to help founders improve their funding readiness and connect them with funders in matchmaking sessions. To be eligible, companies must be headquartered in New York with annual revenues between $250,000 and $10 million and certified as minority, women, veteran, or LGBTQ+ owned. Applications are accepted on a rolling basis.
• Veteran Shark Tank . Veteran business owners can compete for $50,000 in the 11th annual Veteran Shark Tank , held on December 9, 2024, in Philadelphia. To qualify, businesses must be less than three years old, and veterans must own at least 50% of their company, have a clean legal record, and use the prize money for business improvement. Applications, due by October 6, 2024, must include a brief video pitch and a PowerPoint presentation detailing the business plan.
• The Wish Local Empowerment Program. This program brought to you by the e-commerce brand, Wish, assists Black-owned small businesses by dedicating a $2 million fund to support approximately 4,000 Wish Local partners. Recipients can receive financial assistance ranging from $500 to $2000, with flexibility in fund allocation. Eligible businesses must meet criteria such as having a Black-owned business with 20 or fewer employees and an average annual revenue under $1 million. Successful applicants will also join Wish Local, gaining access to its consumer base through various partnership opportunities.

Additional resources

The programs listed above are a good start when it comes to grants and funding. You may find additional resources available by following the links below.

• Agricultural Justice Project (AJP) , a program offering free resources and guidance for owners of farms and food businesses.
• Challenge.Gov , part of the General Services Administration's Technology Transformation Services, aids federal agencies in utilizing prize competitions and crowdsourcing to advance their goals. Hosting over 1,300 challenges since 2010, Challenge.Gov facilitated 105 in 2021 alone, totaling a prize pool of over $60 million alongside non-monetary rewards.
• Community Development Financial Institutions (CDFI) Fund , a government agency that offers financial support to certified lenders serving low-income communities. The CDFI is broken up into several different program areas, including Native Initiatives that provide training and assistance to Native communities, and the Capital Housing Fund that delivers affordable housing for low-income communities.
• Fearless Fund , a venture capital firm that actively invests in businesses led by women of color across the United States. Concentrating on early-stage investments in various industries, the fund looks for companies at the Pre-seed, Seed, or Series A financing stages, offering up to $3 million in exchange for a minimum equity stake of 10%.
• Funding options for Black-owned businesses , including venture capital firms and programs offering financing to Black entrepreneurs.
• Funding options for LGBTQ+-owned businesses , including resource networks and organizations that offer grants to LGBTQ+ entrepreneurs and those from other underrepresented backgrounds.
• Funding options for Hispanic-owned businesses , including funding sources and organizations aimed at supporting Latinx and Hispanic entrepreneurs.
• Funding options for minority-owned businesses , including multiple grants, funding sources, and low-cost loans that are intended to help minority-owned businesses grow.
• Funding options for veteran-owned businesses , from government-backed programs to pitch competitions and business accelerators.
• Funding options for women-owned businesses , including ten programs, agencies and organizations that are helping women entrepreneurs be better represented in the ranks of American business owners.
• GrantsForWomen.org , an online directory that provides a comprehensive database of grants for women globally, along with valuable advice on securing grants and information on relevant events and workshops for female business owners. The grants featured in the directory are sourced from reputable organizations, foundations, and venture capital funds, covering both nonprofit organizations and for-profit businesses.
• Live Your Dream Awards , sponsored by Soroptimist International of the Americas, which offers grants of up to $16,000 in financial support to help women overcome financial barriers and achieve their educational and career goals. Applications for this cycle are accepted through November 15, 2024.
• Resources and funding opportunities for AAPI-owned businesses , including accelerator programs, grants for AAPI entrepreneurs, and networking groups.
• SBA Small Business Development Centers , which can help companies of all kinds locate additional funding opportunities at the national and local level.
• SCORE , which can assign a volunteer business mentor who can provide guidance on numerous topics, including funding and operations.
• Tory Burch Foundation Funding Finder , a tool for founders that provides personalized funding recommendations and resources based on their responses to a few questions about their business financials and aspirations.
• Warrior Rising , a national organization designed to turn Veterans (and their immediate families) into “vetrepreneurs” through business opportunities in the form of mentorship, funding, education, and training. Since its inception in 2015, the program has supported over 26,000 Veterans — more than 5,400 so far in 2024 alone — and helped 21 Veteran-run businesses achieve a $1 million valuation.

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Small Business Financing: A Resource Guide

• Introduction
• Government Funding
• Venture Capital
• Crowdfunding
• Buying a Business or Franchise
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Depending on the kind of business you are starting, some private foundations, companies, and crowdfunding websites provide grants, ranging from micro-grants of under $100 up to thousands of dollars. All grants have eligibility requirements, so make sure to read the requirements carefully before applying. For example, some grants are only for jewelry businesses or businesses owned by veterans; many grants are exclusively for non-profit businesses. Additionally, make sure you research who is providing the money and watch out for scams: you should not have to pay money to find out if you are eligible for a grant. Finding and writing grant proposals can be a full-time job, but the resources on this page are a good starting point.

Online Resources

The following external websites provide links to resources on grants for small businesses.

• Assistance Listings. SAM.gov Formally the Catalog of Federal Domestic Assistance, SAM provides detailed, public descriptions of federal assistance listings available to State and local governments (including the District of Columbia); federally recognized Indian tribal governments, Territories (and possessions) of the United States; domestic public, quasi- public, and private profit and nonprofit organizations and institutions; specialized groups, and individuals.
• European Commission Funding and Tender Opportunities External A portal for finding EU-level grants, which can be searched by keywords or by browsing specific EU Programmes.
• Grants.gov Learn about federal grants, including eligibility, criteria, and how to apply. There are hundreds of grants to choose from that you may be eligible for at the individual or organizational level. Narrow down under the eligibility box by checking the box that says “small businesses."
• Nonprofit Startup Resources. Grantspace. External Find helpful resources for starting a nonprofit, such as checklists, nonprofit associations, legal support, and government agencies. This website content is published by Candid, a new organization created by Guidestar and the Foundation Center.
• BusinessGrants.org External Produced by The National Institute of Small Business Grants, this website is a global network of contributors that research "small business grant opportunities that are given away by major corporations, government agencies, non-profit organizations, and foundations."

Subscription Databases

• A keyword-searchable database of over 1 million recently filed IRS Forms 990 and 990-PF
• chart a funder's grants for any given year by recipient type or primary subject and drill down to disbursements by secondary and tertiary category

Selected Print Resources

The following materials link to fuller bibliographic information in the Library of Congress Online Catalog . Links to additional online content are provided when available.

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Small Business Trends

Where can i find a grant writer.

If you are looking to apply for a government grant or business grant and find the task of writing a grant proposal daunting perhaps you can seek the help of certified grant writers.

What Is a Grant Writing?

What do grant writers do, is hiring a grant writer worth it.

If you are busy with the day-to-day running of your organization you might not have time to write a grant. You may also not have resources for a full-time grant writer on staff this is where freelance grant writers can help you get funding,

How To Find a Grant Writer

Where to find grand writers.

If you’ve decided to hire a grant writer is right for your business, now you need to find one. But where can you find a professional grant writer? The American grant writers association is one great place to scout some great grant writers and resources and there are also several places where you can hire the right grant writer that is a good match for you.

1. Grant Writer Team

4. freelancer.

Freelancer is a freelancing and crowdsourcing marketplace, connecting almost 60 million employers and freelancers from 247 countries. Freelancer organizes projects by category related to skills, including websites, grant writing, product design, and more.

6. TaskRabbit

7. flexjobs.

Toptal helps to connect your business with technical writers that include grant writers, software developers, designers, finance experts, project managers, and product managers. It helps with selecting the right professional for you through its screening process to get you the best professionals the market offers. It advertises that depending on availability and how fast you can come to an agreement, you could start working with a technical writer within 48 hours of signing up.

9. PeoplePerHour

10. linkedin, how much does it cost to write grant proposals.