business plan vs grant

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If You Can Write a Grant, You CAN Write a Nonprofit Business Plan

by Suzanne Smith | Mar 4, 2020 | Business Planning , Grow , Strategic Planning

• Grant Proposal’s Need Statement vs. Business Plan’s Research & Analysis In grant proposals, nonprofit organizations typically start with a statement of need that  highlights challenges facing clients and/or the community, the extent of barriers and the scope of the issue.  Similarly, business plans cover the needs of customers in the  market research  sections, which include an analysis of the customer, industry (also called the environment in the social sector) and  competition . In this phase of business planning, ventures will illustrate the  estimated need for their proposed product or service  (e.g., market size) and show the industry and competitive conditions that will affect the success (e.g., favorable or unfavorable conditions) of the venture.
• Grant Proposal’s Project Description vs. Business Plan’s Strategy and Venture Description & Goals In grant proposals, organizations provide an overview of the project’s design and demonstrate how the  intervention uniquely meets the client’s needs and reduces barriers to their receipt of assistance.  (See our  Lean Startup for Nonprofits  for some tips on how to do this effectively.) Similarly, business plans contain a venture description, guiding principles and strategy  that show how the proposed product or service will uniquely fulfill customer needs or desires.  However, it’s important to note that there is one big difference between a social sector business plan and a for-profit business plan.  While for-profit business plans need only take into account how to generate revenue, social sector business plans often include multiple goals (i.e., how to create revenue AND fulfill their mission by hiring hard-to-employ clients and/or providing a service that otherwise would not be available in the marketplace).  
• Grant Proposal’s Organizational Background and Personnel & Project Plan vs. Business Plan’s Organization & Management and Operations and Risk Mitigation In addition to showing that your nonprofit organization is implementing a best practice or promising program in a grant proposal, you also must demonstrate to funders that the  organization and key staff are qualified and have the right experience to execute the proposed activities, even if the worst-case scenario happens (e.g., buildings get delayed, clients do not come as fast as expected).  Organizations typically highlight how long they have been serving their clients and the professional expertise of their staff. Likewise, in a business plan, the organization should highlight the  specific qualifications, expertise and previous successes of key staff to demonstrate competency to investors.
• Grant Proposal’s Budget vs. Business Plan’s Financials In a grant proposal, you show various categories in the budget – total cost of project, total request for the specific funder, and, if there is a difference, how you plan to raise the rest of the money. This inspires confidence by the funder that the organization’s financials are well-understood and the project will be sustainable over the long-term (if that is the goal). In a business plan, you show financials differently – it typically includes a 3-5 year budget (or P&L) as well as cash flow. It also often includes a tool called sensitivity analysis to demonstrate the relative impact of various changes on the financials.

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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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What Is a Small-Business Grant?

How small-business grants work, types of grants for small businesses, is a grant a loan, is a grant a form of income, can you pay yourself with grant money, does a grant have to be paid back, the bottom line.

• Salaries & Compensation

Small-Business Grants: Everything You Need to Know

A small-business grant is an award, usually financial, given by one entity (typically a company, foundation, or government) to a company to facilitate a goal or incentivize performance. Grants are essentially gifts that usually do not have to be paid back.

Small-business grants are targeted to a variety of purposes, from starting a company or helping it run more efficiently to aiding its expansion. Grants are not simply free money, however. The funds must be used in accordance with the terms of the grant, and if they are not, they will have to be paid back—possibly with interest.

Key Takeaways

• A grant is a gift to an individual or company that does not need to be paid back.
• Grants usually involve a three-phase lifecycle: pre-award, award, and post-award.
• The five main grant types for small businesses are federal, state or regional, corporate, specialty, and startup.
• Grants are considered income and thus subject to taxation, unless the law says otherwise.

Grants are tailored to a specific purpose, and the application process is generally rigorous and time-consuming. The federal government delineates what it terms “the grant lifecycle,” which has three phases.

• Pre-Award Phase: During this phase the grant-awarding government agency decides what it wants to fund, announces a grant (or grants), and accepts and reviews applications.
• Award Phase: Applicants are told whether or not they have been approved, the agency works with the grantee(s) to finalize the legal framework for the funding, and the funds are disbursed.
• Post-Award Phase: A grants management officer is assigned to oversee grant compliance during the life of the grant(s) through regular reports submitted by the grantee(s) and on-site audits. Eventually, each grant is closed out once it is determined that the goals have been attained and the funds spent.

Non-federal grants, of course, may vary in how closely they are scrutinized and monitored, but the process remains largely the same.

There are at least five different general types of small-business grants, available from myriad grantors. Within these five categories are opportunities too numerous to elucidate in one article, and the categories can sometimes overlap.

The most comprehensive source for federal business grants is the government website grants.gov, which maintains a database of thousands of available business grants. GrantWatch is on online database of over 27,000 grants, including more than 1,000 small-business grants. It has a free membership, or you can pay for a subscription lasting a week ($18), a month ($45), a quarter ($90), or a year ($199), which provides added benefits such as keyword search and full grant info.

Here are some grant examples that will help you understand what kind of help is available and where to look for it.

Federal small-business grants

The U.S. Small Business Administration (SBA) , a federal agency, is a principal source of limited small-business grants for certain defined purposes. These include:

• Research and development : If your business does scientific research and development, you might qualify for a grant from the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs.
• Management and technical assistance : The SBA’s 7(j) Management and Technical Assistance Program helps small businesses that give management and technical assistance and guidance to other eligible small businesses. The intent is to help them be competitive in landing federal, state, and local government contracts as a prime or subcontractor.
• Export development : The SBA’s State Trade Expansion Program (STEP) “provides financial awards to state and territory governments to assist small businesses with export development.” To date it has awarded more than $200 million to help small businesses learn how to export their products, participate in foreign trade missions, design international marketing products and campaigns, support website globalization and e-commerce possibilities, pay for subscription services provided by federal agencies, and participate in export trade shows and training workshops.
• Entrepreneurship promotion : These grants do not go directly to small businesses. Instead, they go to community organizations that promote entrepreneurship through counseling and training programs, including organizations that support veteran-owned and service-disabled veteran-owned businesses and government-sanctioned “ small business development centers .”

The U.S. Department of Agriculture also has grants for rural small businesses.

• USDA rural business development grants : These USDA grants pay for technical assistance and training for small rural businesses, which are defined as having “fewer than 50 new workers and less than $1 million in gross revenue.” The money must be used for “projects that benefit rural areas or towns outside the urbanized periphery of any city with a population of 50,000 or more.”

Federal small-business grants cannot be used for starting or expanding a business.

State or regional small-business grants

As noted above, the SBA provides grant money through STEP and its Small Business Development Centers that eventually funds small business support and development on the state or regional scale. In addition, the U.S. Department of Commerce has two programs that fund a variety of grants distributed statewide or region-wide. They are:

• Minority Business Development Agency (MBDA) : The MBDA serves minority business enterprises owned and operated by African Americans, Asian Americans, Hasidic Jews, Hispanic Americans, Native Americans, and Pacific Islanders. Through a network of business centers, specialty centers, and grantees , it offers at the state and regional level “customized business development and industry-focused services to provide greater access to capital, contracts, and markets.”
• Economic Development Administration (EDA) : The EDA has a grant investment portfolio that ranges from planning to infrastructure construction designed to enhance “local efforts to build, improve, or better leverage economic assets that allow businesses to succeed and regional economies to prosper and become more resilient.” Its investment priorities include projects that advance equity for underserved populations and communities, recovery and resilience from economic shocks, workforce development, manufacturing, technology-based economic development, environmentally sustainable development, and exports and foreign direct investment. Its grants are competitive, and each state has its own agency.

There are also states and regions that offer small-business government grants. Here are just two examples from New York and Texas.

• Neighborhood business grants : The Citizens Committee for New York City (CitizensNYC) offers neighborhood business grants of up to $10,000 to “fill gaps in funding by prioritizing businesses owned by people of color, immigrants, and women .” These grants prioritize small businesses that give back to the communities they serve.
• Skills for Small Business grants : The Texas Workforce Commission (TWC) and its Skills for Small Business program has a budget of up to $2 million and provides grants for employees to pay for “training offered by their local community or technical college, or the Texas A&M Engineering Extension Service (TEEX).” To qualify, a business must have fewer than 100 employees, and the grant can be used either to train new workers (up to $1,800 per person per year) or improve the skills of current employees (up to $900 per person per year). Employees must be full-time workers.

Corporations may offer grants as a way to burnish their image since philanthropy usually plays well to the public.

Corporate small-business grants

Corporations are usually concerned about projecting a positive image to the public, and philanthropy is one way to do that. This can take the form of grants to worthy causes, often nonprofit ones, but it can also take the form of small-business grants. Here are but a few of what is out there.

• DoorDash Disaster Relief : The ubiquitous food delivery company maintains a relief fund that makes $10,000 grants to “selected restaurants across the United States, Puerto Rico, New Zealand, Australia, and Canada affected by natural disasters like fires, floods, and hurricanes.” The restaurant must have a brick-and-mortar location (and no more than three of them), employ 50 or fewer people, have been open for at least six months, and have revenues of $3 million or less per location.
• Visa Everywhere Initiative : The company behind the internationally accepted credit card stages a worldwide competition among fintech startups from five regions—North America, Europe, Asia Pacific, Latin America, and Central Europe, Middle East, Africa (CEMEA)—for a $50,000 Overall Winner grant. Visa is looking for companies that have “products that deliver innovative payment and commerce solutions to consumers and businesses.” Also available are an Audience Favorite grant of $10,000 and a Visa Direct grant of $10,000. Local and regional grants ranging from $10,000 to $40,000 are also awarded. Applications are closed for 2023, so get on your mark for 2024.
• FedEx Small Business Grant Contest : The famed delivery company offers grants to small businesses “to be applied toward growing or enhancing their business.” To be eligible, a company “must be for-profit, have a valid FedEx business shipping account number, currently ship with FedEx, and have fewer than 99 employees.” Grants of $30,000, plus $1,000 worth of FedEx Office print services were awarded to 10 small businesses in 2023.

Specialty small-business grants

All grants are targeted to a specific goal, but some are aimed solely at a defined group . It could be the LGBTQ+ community, veterans, or—as with DoorDash above and the SoGal Foundation below (see "Start-up grants for small businesses")—restaurant owners (DoorDash) and self-identified Black women and nonbinary people (SoGal). Here are a couple of other examples.

• Queer to Stay Initiative : A joint venture of the Human Rights Campaign and Showtime, partnering with Visa, the Queer to Stay Initiative will award grants to at least 25 LGBTQ+ small businesses across the country in 2023. A prime goal is simply to keep safe spaces for the community open. You must be a U.S.-based for-profit business, primarily serve/cater to the LGBTQ+ community, and explain how you have been negatively impacted by the Covid-19 pandemic. Special consideration will be given to businesses that are community-owned. Application deadline is Aug. 31, 2023.
• Military Entrepreneur Challenge : Run by the Second Service Foundation, the Military Entrepreneur Challenge "is a nationwide grant program that gives veteran, military spouse, and Gold Star family entrepreneurs the opportunity to network, learn, and compete for capital to grow their small business." You prepare a pitch for your business that must be delivered first to a panel of judges and then to a live audience. The judges decide who gets to the final round, and the audience decides the winner. Grant amounts and prizes vary based on event. In the upcoming 2023 Challenge round in Arlington, Texas, due to be held Oct. 4-6, cash grants are $1,000 or $2,000, plus a $5,000 PR package and a $25,000 in-kind legal services package.

Startup grants for small businesses

As mentioned above, federal small-business grants cannot be used for starting a business. Fortunately, plenty of other entities are more than happy to help out in that regard. Here are just three.

• Incfile's Fresh Start Business Grant : Incfile helps birth small businesses by managing all the complicated filing and paperwork, offering tax advice , and providing other support services for nearly one million customers. Its Fresh Start Business Grant gives $2,500 to help start your business, as well as offering Incfile's Gold plan for free, which usually costs $385 and includes incorporation and registered agent services plus tax consultation. There are three deadlines per year, with one still to go in 2023 on Sept. 30.
• Black Founder Startup Grant : The SoGal Foundation was formed in 2015 “to close the diversity gap in entrepreneurship and venture capital.” It has teamed up with sponsors such as Winky Lux, bluemercury, twelveNYC, Twilio, Walmart.org’s Center for Racial Equity, and others to offer $10,000 and $5,000 grants to people who “self-identify as a Black woman or Black nonbinary entrepreneur (inclusive of multiracial Black women and multiracial Black nonbinary folks).” Applicants must “have a legally registered business, plan to seek investor financing in order to scale, now or in the future, and have a scalable, high-impact solution or idea with the ambition to be the next billion dollar business.”
• Cincinnati Chamber Foundation Startup Grant : Thanks to a grant from the Johnson Foundation, this Ohio organization has established a $100,000 grant program “to support women-, minority-, or LGBTQ-owned small businesses that are opening in downtown, Over-the-Rhine, and Pendleton.” The goal is to support the revitalization of vacant retail storefronts in the city while creating new jobs and fostering minority-business growth. Grants of $5,000 and $10,000 are available.

No, it is not. A loan must eventually be repaid, usually with interest, while a grant does not need to be repaid.

Yes, it is, which means that it is considered taxable at both the federal and state level unless the law dictates otherwise.

This really depends on the grantor's terms for the use of the grant, but it is possible if those terms allow it.

No, it does not, unless the grantee fails to satisfy all the obligations of the grant.

Small businesses are an important component of the American economy, which is undoubtedly why there is such a plethora of support for them in the form of grant money. That support can come from the government—federal, state, or regional—corporations, private companies, nonprofit foundations, and other entities. It usually must be used for targeted goals and is often aimed at specific communities. So don’t by shy about it. If you and your small business are in need, go out and find the grant that’s designed for you.

Grants.gov. " The Grant Lifecycle ."

Grants.gov. " Search Grants ."

GrantWatch. " GrantWatch: Time to Apply ."

GrantWatch. " Choose Your Subscription ."

U.S. Small Business Administration (SBA). " SBIR STTR America's Seed Fund ."

U.S. Small Business Administration (SBA). " 7(j) Management and Technical Assistance Program ."

U.S. Small Business Administration (SBA). " State Trade Expansion Program (STEP) ."

U.S. Small Business Administration. " Small Business Development Centers (SBDC) ."

U.S. Department of Agriculture. " Rural Business Development Grants ."

U.S. Small Business Administration (SBA). " Grants ."

U.S. Department of Commerce Minority Business Development Agency. " Who We Are ."

U.S. Department of Commerce Economic Development Administration. " Investment Priorities ."

U.S. Department of Commerce Economic Development Administration. " Economic Development Directory ."

Citizens Committee for New York City. " Grantmaking ."

Texas Workforce Commission. " Skills for Small Businesses ."

DoorDash for Merchants. " Restaurant Disaster Relief Fund ."

Visa. " Visa Everywhere Initiative 2023 ."

FedEx. " FedEx Small Business Grant Contest ."

FedEx. " 2023 FedEx Small Business Grant Contest Winners ."

Human Rights Campaign. " Queer to Stay: LGBTQ+ Business Preservation Initiative Application Form ."

Human Rights Campaign. " Queer to Stay ."

Second Service Foundation. " Cultivating the American Dream: Military Entrepreneur Challenge Application ."

Second Service Foundation. " Military Entrepreneur Challenge ."

Incfile. " Powering Entrepreneurship. Powering People: Fresh Start Business Grant ."

Black Business Ventures Association. " Sogal's Black Founder Startup Grant (Up to $15,000) ."

Cincinnati USA Regional Chamber. " Grant to Support Women, LGBTQ, and Minority Entrepreneurs ."

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• Building Your Business

How To Find and Get Small Business Grants

Learn how grants work and the ways in which to receive them

How Small Business Grants Work

How to find small business grants, types of small business grants, how to apply for grants for your business, frequently asked questions (faqs).

PixelsEffect / Getty Images

Small business grants are sums of money awarded to businesses for various purposes such as economic development, job creation, or disaster relief by government and nonprofit organizations.

Grants essentially are free money, providing businesses of all types, sizes, ages, and industries with the resources to grow without requiring anything in return. Learn what grant opportunities are perfect for your business, including what types are available, how to find them, and how to apply for them.

Key Takeaways

• Small business grants are sums of money given for a particular purpose by government or nonprofit organizations for economic and business development.
• Grants don't require equity (a stake in your company), which means nothing is expected in return other than your time and effort to acquire them.
• Grants do not need to be repaid; however, your business must meet requirements to receive funding.
• You can find small business grants by browsing the websites or calling the offices of local, state, federal, and nonprofit organizations in your area.

Small business grants can be divided into two categories: those from the government (local, state, or federal) and those from private organizations. Many different types of small business grants are available, but not all grants are the same. Most grants are first come, first serve and based on need, so as long as you fulfill the requirements, you have a shot at receiving funding. Unlike traditional loans , which are available for any kind of business, your business must be eligible and match requirements for the specific grant you are applying for to receive funding.

How Much Funding Can You Expect to Receive?

Federal agencies, including the Small Business Administration (SBA), award billions of dollars every year in small business loans and grants to help fund startups, keep existing businesses thriving, and create jobs.

In 2021 alone, the SBA distributed nearly $416.3 billion in emergency relief aid through various grant programs to more than 6 million small businesses impacted by the COVID-19 pandemic.

Small business grants can range from a few thousand dollars to a few million. Government programs from federal down to state and local can provide small business owners with grant funding, tax credits, free training, no-interest loans, and other financial perks. Private organizations such as nonprofits function similarly but on a smaller scale, and can provide grants, equity investments, no-interest loans, and patent protections to business owners.

Do You Have To Pay It Back?

As a small business owner, knowing the rules and regulations surrounding your grant funding, including what you need to do after receiving a small business grant, is essential. The short answer is no. Grants do not need to be repaid once you receive them from a government or nonprofit organization. Grants are free sums of money awarded to businesses in need.

There is no need for monthly repayments or interest charges; however, you are still responsible for any associated taxes that come with accepting the grant.

How Difficult Is It To Get Small Business Grants?

Many factors can complicate the process of applying for grants, including the grant itself, the level of competition, the longevity of the business, and how well you detailed your purpose for the grant. However, the SBA and most nonprofit grant organizations have resources to help guide you through the process. If you still run into difficulties, you can always turn to an attorney, business mentorship network SCORE, or nonprofit guide for help.

There are many ways to find small business grants. One way is to research online for funding opportunities. Government sites such as Grants.gov are excellent places to start your search because they offer the most variety of programs. However, there are also non-governmental sources where you can find grant programs.

One option is to ask your local chamber of commerce or other small business associations in your area about grant opportunities and where you can apply. Depending on your location, you can check out local and regional grant programs that focus on specific industries, such as manufacturing or tourism.

There are various ways to find small business grants, depending on the type of grant you are looking for. Local, state, and federal government agencies receive funding and offer resources to small business owners expressly for this purpose.

It can be helpful to reach out to these agencies about the grants available in your area or for your business type or demographic. The U.S. Chamber of Commerce is also a helpful resource for locating grants that fit your business’s needs.

If you're looking to get support for your small business, keep in mind that there are many avenues to explore. Some funds are issued directly by the federal government, while others are distributed through state and local governments or private organizations such as nonprofits. After the funds are distributed, organizations then can use their funding to provide technical or educational assistance on a regional level.

Below are some examples of resources across government levels.

Local Grants

Since local grant programs generally have less competition than state and federal ones, they are excellent places to start. Search online for your local small business development center (SBDC) or economic development center. SBDC websites and SBA local chapter websites should have information on grants available for your business. Additionally, you can contact your district's elected officials' offices about grant funding in your area.

State or Regional Grants

You can find out if your business qualifies for any state or regional grants by checking out the SBA’s website and exploring its information on available grants and funding programs. Another place to check is your state’s economic development websites. You can also contact your elected state officials’ offices for more information on grant funding available. State grants generally have more competition than local grants, so apply early and make sure you meet eligibility requirements. For example, there is:

• U.S. Small Business Administration State Trade Expansion Program (STEP) : STEP offers financial assistance to small businesses seeking to export products. This grant program distributes federal funds through state agencies. Small businesses that meet the criteria set by each state can use the funds to participate in foreign trade shows, facilitate entry to foreign markets, develop websites, create products, and design international marketing campaigns.
• Minority Business Development Agency (MBDA) grants : The MBDA is an agency subsidiary of the Department of Commerce and provides grants to promote the growth and competitiveness of minority-owned businesses .

Federal Grants

These grants can be the most competitive to apply for, but are available for a wide variety of recipients. Grants.gov is a great place to start while looking for federal grant programs for your industry or demographic. Federal grant programs include:

• Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) : SBIR and STTR are federal grant programs from the SBA that encourage small businesses to engage in research and development with the potential for commercialization and socioeconomic benefit.
• Boots to Business (B2B) : The B2B program provides entrepreneurship training, curriculum updates and program management support services for active military members, veterans, and their spouses.

Private Grants

The government is not the only provider of small business grants. Nonprofit organizations often provide funding for entrepreneurs starting or growing their business ventures. Private organizations, demographic-specific grants, and emergency economic development grants are also options. The type of small business grants available to help entrepreneurs grow their businesses vary greatly and include grants for women-owned businesses, minority-owned businesses, and veteran-owned businesses. Examples include:

• Fast Break for Small Business : LegalZoom has partnered with the NBA, WNBA, G League, and Accion Opportunity Fund to help out small business owners by offering $10,000 grants and up to $500 in LegalZoom services for small business owners. Applications are open twice a year.
• National Association for the Self-Employed (NASE) : The NASE offers up to $4,000 for business development through its Growth Grants program.
• Amber Grants : Grants are awarded monthly in the Amber Grants program to women who want to fulfill their entrepreneurial dreams. Previous grant recipients have ranged from bakers to inventors.

What’s involved in the typical small business grant application process? The process for obtaining a small business grant has three main phases.

• The pre-award phase : Grant applicants look for and apply for funding opportunities, then wait as their applications are reviewed.
• Award phase : Grant organizations make award decisions and notify the recipients.
• Post-award phase : Grant funds are utilized, any required reporting is submitted, and the grant organization closes the application.

Applying for a small business grant as a sole proprietor can be daunting and varies in time and effort depending on the type of grant and the funding organization's requirements. However, in general, the following steps are taken: c

• Determine which grants are a good match for your business needs and goals. Research government grant programs and reach out to specific organizations that might be interested in funding your business.
• Gather the information and documentation the funding organization needs to evaluate your application, including your pitch, financial statements, employer identification number (EIN) , and business plan.
• Fill out the application form or submit your online application.
• Wait for a response from the funding source.
• Repeat this process until you receive the funding amount needed for your business.
• If required, report back on how your business used the funding.

Is a Grant Right for You?

With the vast number of options available for this kind of funding, many applicants can find a grant that suits their business needs. However, there are potential downsides to seeking grant funding, including the competition and the time it takes to acquire it.

If you own a small business, need funding, meet grant eligibility requirements, and have time to be patient, then grant funding is right for you. For businesses unable to meet eligibility requirements for government or private grants, or who can’t wait for funding, there are better options, such as small business loans or lines of credit , worth looking into for financing.

How do I qualify for a small business grant?

You can qualify for a small business grant if you are a small business owner looking to start and grow your business, and meet the granting organization's criteria. The organization granting the funds will often specify what it is looking for during the application process. Call its office or review its website for more information about grant eligibility requirements.

How long does it take to get a small business grant?

The length of time it takes to get a small business grant will depend on what type of funding you're applying for and which organization is supplying it. Grant approval and funding, whether from government agencies or  private foundations, can take several months to as long as a year. Keep in mind that some grants have eligibility windows that applicants can't miss. Find out the average wait time for the grant you are applying for and plan accordingly.

U.S. Small Business Administration. “ FACT SHEET: The U.S. Small Business Administration Is Delivering Support to America’s Small Businesses, Helping Them Recover From the COVID-19 Pandemic .”

U.S. Chamber of Commerce. “ 52 Grants, Loans and Programs To Benefit Your Small Business .”

Grants.gov. " Grants 101 ."

Grants.gov. “ How To Apply for Grants .”

Fifth Third Bank. “ 3 Steps To Apply for a Small Business Grant .”

New York State, Empire State Development. “ Meet Me in New York Grant Program .”

GetFundid. “ How Long Does It Take To Get a Business Grant? ”

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Your privacy is important to Grant Training Center. This privacy statement provides information about the personal information that Grant Training Center collects, and the ways in which Grant Training Center uses that personal information.

Personal information collection

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• administer this website;
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Where Grant Training Center discloses your personal information to its agents or sub-contractors for these purposes, the agent or sub-contractor in question will be obligated to use that personal information in accordance with the terms of this privacy statement.

In addition to the disclosures reasonably necessary for the purposes identified elsewhere above, Grant Training Center may disclose your personal information to the extent that it is required to do so by law, in connection with any legal proceedings or prospective legal proceedings, and in order to establish, exercise or defend its legal rights.

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Grant Training Center will store all the personal information you provide on its secure servers.

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You agree to such cross-border transfers of personal information.

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You should check this page occasionally to ensure you are familiar with any changes.

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Write Your Proposal like a Business Plan

Knowing how to write a business plan can help your grant proposal stand out and increase your chances of acquiring funding. A business plan is a written document that describes in detail how a new business is going to achieve its goals. Similarly, a grant proposal describes in detail how a project’s goal and objectives will be achieved . Grant proposals include many of the same elements as business plans and serve nearly the same purpose. The success of either depends on the information presented, the way they are written, and the brilliance of their approach or methodology. Above all, deliverables are what they have in common. To demonstrate the results, both plans should be SMART: specific, measurable, attainable, realistic and time bound.

Certain important qualities in a business plan make it far more likely to find financial backing. Here are some of those qualities which are equally important for grant proposals as well.

1. It fits the business need

You have to start with whether or not the plan is going to achieve its business purpose. Some plans will sell an idea and a team, others will sell a research plan, and yet others will sell a service that will be undertaken for constituents. A good business plan fits the business need. Equally, your grant proposal should parallel the institutional mission. It should achieve the objectives or the goal in systematic and measurable increments.

2. It’s realistic and can be implemented  

You do not get points for ideas that cannot be implemented. You may have a brilliantly written and excellently researched business plan for a grant. However, if it does not have a management plan or team to manage implementation, it will not get funded. This proposal will not fare well with the donor, and the lack of feasibility may be the fatal flaw that will get it rejected.

3. It’s specific – you can track results against the plan

Measurable objectives are driven by outcomes and can be tracked against your goal. They will keep you on track to achieve your tasks, deadlines, budgets, and evaluation. Good planning requires specifics about who, what, when, and how much. Your plan of operation will include activities, timelines, personnel, outcomes, evaluation, and budgets. In other words, it will be specific and all the pieces will fit together like a puzzle.

4. It clearly defines responsibilities for implementation

You have to be able to identify a single person who will be responsible for every significant task and function. A task that doesn’t have an owner isn’t likely to be implemented. In a good business plan or a grant proposal, you can distinguish a specific person responsible for implementation at every point.

5. It clearly identifies assumptions

Since a proposal and a business plan are both guessing the future, they must clearly show assumptions and discuss alternative plans. Not thinking about the unexpected may lead to failed plans along the way. You will need to identify assumptions and outline alternative paths, in case the original plan does not unfold as initially envisioned. This demonstrates that you have projected into the future and developed plans that will lead to your ultimate goal, which is the effective completion of the project.

6. It’s kept alive by a regular review and follow-up

The evaluation process must be ongoing and measure the effectiveness of the activities at various stages. It has to bring the planning process with it, meaning regular review and course correction. This demonstrates that accountability will take place during all stages of the proposed plan. A large percentage of your success depends on regular review.

A plan that is simple, easy to read, and reflects the above qualities can sell even the most complex research grant ideas. The common denominator for both grant requests and business plans is that they are specific, measurable, achievable, realistic, and time-bound. At the end of your proposal, you should ask the following questions: Is the plan realistic? Is the budget reasonable? Are the milestone dates feasible? If the answers are yes, then you have created a proposal with a sound and cost effective business plan.

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Mathilda Harris

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Hello Ma’am, Will you be willing to guide and lead me (examine the details) in applying to D~PRIZE for a grant? I do not want to be rejected.

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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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What’s the Difference Between a Grant and a Business Loan?

Table of Contents

Running a business is expensive, plain and simple. At some point, there is a good chance you’ll need to seek additional funding from an outside source. Among the ways to do that is through a business grant or a business loan. Although the two may seem similar, there are a few key differences that will make one type the better option for your business. Learn about the different financing available to you, how to choose between them and the best funding providers below.

What is a business loan?

A business loan is a sum of money that a financing institution, like a bank or credit union, temporarily gives to a small business with the expectation that it will be paid back over time with interest. Loan repayment periods typically range from five to 10 years. A business loan can be used for expenditures like starting or expanding a company, paying employee wages, funding marketing efforts, purchasing new equipment or vehicles, or paying for office space.

>>Read About: Business Loan Calculator

Types of business loans

Business loans are vast and plentiful, so small business owners should be diligent in vetting various loan terms to secure the best financing for their enterprise. Here’s a sampling of some of the most common types of small business loans . 

• Business line of credit: This financing option is an arrangement between a small business owner and a bank or financial institution in which the borrower has the flexibility to access a specified amount of money at any time. Similar to how a credit card works, a line of credit enables the borrower to repay the amount they spend via minimum monthly payments and only pay interest on the amount they use.
• Equipment loans: These loans are given specifically to fund the purchase or lease of business equipment and are typically based on the value of the equipment you are acquiring. Similar loan options are also available for vehicles and real estate.
• Invoice financing and factoring: With invoice financing, a small business owner can borrow money against their outstanding accounts receivable, whereas with invoice factoring, a small business sells their accounts receivables to a lender who will collect on them.

The best invoicing factoring providers can often finance up to 80 percent of the accounts receivables’s value.

• Merchant cash advance: A merchant cash advance is a type of funding given to a small business based on the company’s anticipated credit card transactions for a specified term. The borrower then makes repayments based on a portion of their credit card sales. Merchant advances are typically only a good choice for businesses that have a high volume of credit card sales but are unable to secure a traditional loan because of poor credit.
• SBA loans: An SBA loan is a highly competitive loan guaranteed by the U.S. Small Business Administration. These loan programs are popular among small business owners because of their low interest rates and long repayment periods, making SBA loans cheaper than alternative sources of funding. SBA loans are available from banks and other lenders, but because a portion of the loan is guaranteed by the government, the application process is longer.
• Secured and unsecured loans: Secured business loans are loans backed with a business asset (e.g., a bank account balance, equipment, vehicle or real estate). Unsecured business loans don’t require the borrower to pledge such collateral, and instead are awarded based on a borrower’s creditworthiness.
• Short-term business loans: A short-term loan is a type of term loan that is typically repaid in less than a year with floating or fixed interest rates. They are typically available for businesses that may not be eligible for a line of credit.
• Term loans: A term loan is a financing agreement where a small business borrows a lump sum of money and repays it over a specified period of time with a fixed interest rate. Common types of business term loans include bridge term loans, multiyear term loans, SBA term loans, asset-based term loans and equipment term loans. 

You can obtain term loans from many different funding providers, including the SBA, traditional banks and online lenders.

What is a business grant?

A business grant is a sum of free money that a private organization or a federal, state or local government gives to a business to use toward specific business functions. Unlike loans, grants don’t have to be repaid; however, small businesses must meet very particular criteria to receive one, and they must use the money for reasons specified by the granter.

“Business grants are not easily obtainable,” Nick Chandi, co-founder and CEO of ForwardAI, told business.com. “Your business needs to meet certain requirements.” 

A grant, Chandi said, “is given for an authorized and specified purpose only that usually aims for public good. You may have to repay a grant if it’s not used for the purpose it’s awarded for. The federal government doesn’t provide grants for paying off debt, covering operational expenses and starting or expanding a business.” [Read related article: Top Small Business Grants ]

Types of business grants

There are several types of business grants offered by governments and private organizations. Grants are highly competitive and are only given to businesses that meet a specific set of criteria. Here are some popular options.

Federal business grants

Federally funded government grants are awarded to select small businesses that meet each grant’s respective criteria. Chandi highlighted the following primary federal grant options.

• 3D Elevation grant
• Environmental Protection Agency grants
• National Institute of Food and Agriculture grants
• National Institutes of Health grants and funding
• National Institute of Standards and Technology grants
• National Oceanic and Atmospheric Administration grants
• National Science Foundation grants
• Value-Added Producer grants

State business grants

These grants are similar to federal business grants, except they’re awarded by state governments and are slightly less competitive. To find a state grant, check the following resources.

• The U.S. Economic Development Administration
• Small Business Development Centers
• The State Business Incentives Database

Local business grants

Another funding option is a local business grant. Although these are still highly competitive, your business has a better chance of receiving a local business grant than a federal or state grant, assuming you meet all the criteria. Chandi shared these grant programs for consideration.

• Ben Franklin Technology Partners
• The Chicago Small Business Improvement Fund
• The Cleveland Department of Economic Development
• The Miami Mom and Pop Small Business Grant
• The New Mexico True CoOp Program
• The New York City Fashion Manufacturing Initiative
• The Orlando Downtown Commercial and Residential Building Improvement Program
• The Delta Grants Program

Corporate business grants

Similar to government funding, corporate business grants from private corporations provide aid to small businesses, typically through some form of competition. Some corporate grant options include the ones below.

• The FedEx Small Business Grant
• The Intuit National Association for the Self-Employed Grant
• Nav’s Small Business Grant
• Patagonia’s Corporate Grant Program
• The Visa Everywhere Initiative

Research business grants

Small businesses seeking funding for scientific research and development can access grants that are awarded solely for this purpose. Many of these grants can be found through federal programs such as the following.

• The Small Business Innovation Research Program
• The Small Business Technology Transfer Program

Specialty business grants

Government and corporate grants are available for specific populations, like women entrepreneurs and minority-owned businesses. If you fall within an underrepresented or unique demographic, you may be eligible for a minority business grant, such as those listed below.

• The Native American Business Development Institute Grant
• Verizon’s Small Business Recovery Fund

What is the difference between a loan and a grant?

The biggest difference between a loan and a grant is that a loan must be repaid and a grant does not need to be. If you cannot repay funding, a grant may be the better option. Although this is the primary distinction between the two funding types, there are other differences small business owners should be aware of.

For example, the criteria a lender or grantor evaluates you on can vary. Only companies that operate in select industries and locations may be eligible for specific grants — which can be a benefit or a disadvantage, depending on your business. In contrast, lenders are more focused on your financial health and ability to repay the loan.

“Small businesses can qualify for grants based on their demographics or industry,” said Leslie H. Tayne, founder and head attorney of Tayne Law Group. “For loans, lenders take your credit score and finances into consideration when making a lending decision. From checking the internet to requesting bank statements and business plans, small businesses may find that applying for a loan requires they provide much more information than a grant.” 

Small business grants often require less documentation than small business loans.

Small businesses should also consider how quickly they need the capital. Grantors typically take much longer to approve applications and disburse funds than lenders do. If you need money immediately, a loan may be the only option.

“Unlike with grants, small businesses can apply for loans and receive funding whenever they need financing,” said Tayne. “If a small business needs immediate funding with no restrictions, seeking out a loan is the better option.” 

Additionally, loans are offered by financial institutions and private lenders, whereas grants are provided by various governments and corporations. Depending on your professional connections, it may make sense to seek funding from one source or the other. [Read related article: How to Apply (and Get Approved) for a Business Loan ]

How do you choose between a loan and a grant?

When deciding whether you should pursue a business loan or a grant, there are a few major business points you need to establish. Once you determine these points, you will have a better idea of which option is best for your business.

1. Establish how much money you need.

First, you need to know what you are seeking funding for and how much money you’ll need. There are several funding options out there, but only a select few will be suitable for your business. If you only need a small amount of funding, maybe a microloan or a short-term loan is the better choice for you. If you need a significant endowment for research and development, perhaps a grant is better.

“With grants, you can get a specific amount of money, whereas with loans, you can get as much funding as you need,” said Chandi. “Moreover, there are limited numbers of grants available, whereas you don’t have to compete with anyone to get a loan. Therefore, it’s always important to research and check the benefits and drawbacks associated with grants and loans to see what funding suits your needs the best.”

To estimate your organization’s funding needs, it will help to write a business growth plan . Some lenders may want to see your plan for the capital they’re providing, so make sure you’re prepared. 

2. Decide on a funding timeline.

How fast do you need the money, and how capable are you of repaying it in a certain time frame? Grants will typically take longer to receive, so they are better suited for small businesses that don’t need immediate funding. Although loans are given out quicker than grants, you have to assess how much time you need to repay it in full.

“When securing a business loan, personal credit history and score do matter,” said Chandi. “Also, there are no hard-and-fast rules to secure a business loan — some lenders might provide you loans when you have more debts but a healthy cash flow too. Alternative lenders, such as online and nonbank lenders, are changing the face of small business lending and providing loans easier and faster than a bank — as little as 48 hours.”

If you need the money right away, make sure you look into types of fast business loans . 

3. Determine your eligibility.

Grants and loans each have specific eligibility requirements. Granters focus more on “what” you are doing with the money, whereas lenders fixate more on “how” you can repay the money. These factors play into what funding you’re eligible for.

“Make sure to read the fine print on any loans or grants before accepting them,” said Tayne. “Grants can sometimes have restrictions on what the funds can be used for, and loans can come with high-interest fees and other fees you may not be aware of until it’s too late. Check your city or state’s local business associations and other resources for help regarding loans and grants.” [Read related article: Hidden Gotchas in Your Business Loan Repayment Terms ]

Ultimately, how much funding you need, how soon you need it and can repay it, and what criteria you meet should steer you in one direction or the other.

The best business loan and financing options

Small business owners can choose from a wide variety of funding providers, including traditional banks and the SBA. However, these institutions often impose onerous eligibility requirements. Some of the best business loan and financing options for fast funding include fintechs, alternative lenders and funding marketplaces. Below are our top recommendations.

• BusinessLoans.com: This funding marketplace uses proprietary algorithms to match small businesses with lenders. Loans are available for up to $3 million, and the platform is willing to work with startups. Learn more in our full review of BusinessLoans.com .
• Biz2Credit: Like BusinessLoans.com, this is a marketplace lender. The lenders on its platforms offer term loans ranging from $25,000 to $500,000. Get information on the application process in our detailed Biz2Credit review .
• Fundbox: This online lender specializes in facilitating business lines of credit. Fundbox provides up to $150,000 in funding. The company also boasts a mobile app and an integration with QuickBooks. Our Fundbox review breaks down these features.
• SBG Funding: This alternative lender provides flexible terms and loans of up to $5 million. In our comprehensive SBG Funding review , see all the loan types available, as well as the documentation required when applying.
• Rapid Finance: As its name implies, Rapid Finance provides fast funding for small businesses. See the timeline, minimum requirements, and pros and cons of working with this lender in our review of Rapid Finance .

Mike Berner contributed to this article. Source interviews were conducted for a previous version of this article. 

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Grant Management: What It Is and How to Do It

A guide to grant management for foundations and companies 

The full grant management lifecycle—from pre-award planning to final reporting—can be daunting at first. Especially for a small organization or team, or someone just getting started on a new program.

But with the right tools and process in place, you can run an efficient program that achieves your mission and maintains your sanity.

As a developer of leading grant management software for grantmakers , Submittable works with thousands of grantmakers every day. This gives us a front row seat to grantmakers’ priorities, frustrations, and–best of all–the creative ideas and tools that help them achieve their mission. 

Based on these insights, we’ve put together this guide. We’ll define key terms and points in the grant management process and suggest best practices and technology you can use now to achieve your goals. 

What is grant management?

First, a clarifying note: The term “grant management” can also be used in relation to grant seekers who are writing proposals and reports, and then ensuring grant requirements are met as their organization spends grant funds. 

But for the purpose of this guide, we’re focusing on grant management from the perspective of grantmakers: those who distribute grants and award funds. 

For grantmakers, grant management encompasses the processes and administrative work that happen throughout the grant lifecycle . This includes setting up the grant, reviewing applications, selecting worthy recipients, disbursing grant funds, and ensuring those funds are put to good use.

Want to speed up your grant management process?

Submittable simplifies even robust grant review processes to save you time.

What is the role of a grant manager?

A grant manager—also sometimes referred to as a grant administrator or award manager—is generally the person responsible for ensuring a grant is awarded and implemented effectively. 

This role creates and monitors application and review processes, provides initial and ongoing communication with applicants, and ensures consistent grant processing, tracking, and compliance.

The grant management process for grantmakers

Now that we’ve covered some of the foundational “what” questions, let’s dig into the “how.”

Effective grant management is important throughout the entire lifecycle of a grant, which can be broken into three stages: pre-award, award, and post-award. 

We’ll cover each of the three stages, and the must-do activities in each of them—regardless of organization or grant type. 

I. Pre-award stage

The pre-award stage involves everything that happens before the grant recipient is chosen, including the planning, application, and review processes. (It’s also our favorite stage because it’s where we get to help grantmakers the most.)

Key pre-award stage to-dos:

• Develop your guidelines and implementation plans.
• Collect applications.
• Conduct a review process.

1. Develop your guidelines and implementation plans

Like any foundational step, this one is critical to setting your overall program up for success.

The better you can define who will receive grants and how, the clearer and easier things will be for everyone involved. It helps make sure your grant money is put to use more quickly and effectively. 

Before anything is announced, gather your key stakeholders and discuss:

• What is the funding source for the grant and type of grant offered (e.g. matching funds, direct grants, etc.)?
• What is the end goal? What are you helping the grantee achieve? 
• Who will be able to apply, and what criteria and process will you use to select the recipient?
• What are the key deadlines involved in your process?
• What will you require of the grant recipient, and how will the organization report to you?

Your goal is to create crystal clear guidelines for yourself and grantees, and to nail down a complete implementation plan.

Remember: These guidelines and plans shape the quality of your applicants as well as your eventual decision-making process. Getting this part right saves you loads of time later.

We encourage grantmakers who partner with us to spell out their guidelines and grantmaking philosophy publicly at the top of their Submittable portal. It’s also good practice to specify areas they will or won’t consider funding. 

Being transparent about your guidelines and approach builds confidence in your organization and process, informs the broader community on your mission and principles, and saves you and applicants time.

2. Collect applications

First, if you haven’t already, please release yourself from the logistical nightmare of paper applications and applications submitted over email. 

Creating an online grant application form makes things easier on applicants, expands your reach, and–when connected to a powerful grant management platform like Submittable–saves time for your staff when collecting applications, review applications, and subsequent reporting. 

There are five key steps to creating an effective grant application form:

Use your guidelines to identify exactly what information you need in your application to determine eligibility and best fit. 

Your application should collect all vital information, but nothing more; you don’t want to overwhelm applicants with unnecessary work. If you do this correctly, you’ll set your reviewers up for success and make later reporting requirements easier.

We think the following features are key to building an online application experience that creates a an efficient, effective process: 

Flexible form builder. Look for a simple, drag-and-drop form builder where your staff–no matter their technical background–can easily build and edit your application.

Eligibility quizzes. Eligibility quizzes pre-screen applicants and save you (and applicants) from wasting time on applications that aren’t a good fit.   

Advanced form logic creates different paths based on applicant answers, to keep forms relevant and concise. 

File uploads. Being able to accept different file types on your form means applicants can be more creative with their applications, including photos, video, tables and more. 

Branded application portals. With Submittable, you can create branded, customized portals to give your grant application platform the same look and feel as the rest of your materials. You’ll make a polished, professional impression lets grant applicants know they’re in the right place. 

Accepting payments. A system that accepts fees as part of the form also lets you streamline any payment collection.

Once you’ve set up your application, it’s time to announce your new grant program. You’ll need to figure how you’re going to promote your grant and get qualified people to apply. Consider marketing partnerships and reaching out to people and organizations directly. 

3. Conduct a review process

Reviewing grant proposals can be the most exciting part of the pre-award process. But it can also be the most daunting and time-consuming, depending on the size of your review team. 

By following these steps, you can run a smooth review process that surfaces the best-fit applicants to receive your funds.

Build a detailed review rubric to evaluate grants. A comprehensive rubric helps reviewers stay consistent, minimizes personal bias, and provides a useful resource to answer questions.

Make good assignments. Recruit a qualified review team and have multiple readers or teams on each application to ensure all receive fair consideration. Breaking review into multiple rounds with deadlines and checkpoints along the way can reduce reviewer fatigue while keeping the process moving forward.

Use a numerical strategy to find a winner. Score applications with a ranking system or a point system defined by your rubric. If an awardee isn’t immediately evident, it might be helpful to hold a meeting where reviewers discuss top contenders and their merits.

II. Award stage

The award stage is generally the shortest of the three phases. It’s where the grantmaker awards the grant, works with the awardee on a final agreement, and awards funds. 

Key award stage to-dos:

• Notify successful and unsuccessful applicants.
• Finalize legal agreements.
• Award funds.

During the award stage, the grantor notifies all applicants of their decision. Ideally, your grant management system lets you decline applications with bulk actions and customizable email templates to save you time.

The funder then drafts an agreement that spells out the terms of the grant. The recipient and grantor both sign the agreement, and the funds are disbursed to the recipient. 

This might seem fairly straightforward for grants with a single recipient, but managing awards for a larger grant program can become overwhelming without a strong grant management system in place. 

Look for a system with built-in funds tracking to stay on top of your budget and make sure you’re not overextending your organization.

III. Post-award stage

After the grant agreement has been signed and the funds have been disbursed, the post-award stage begins. 

During this stage, the grantor and recipient work to ensure any expectations or requirements outlined in the agreement are being met. This stage  includes the implementation, monitoring, and closeout of the grant program.

Key post-award to-dos:

• Provide support and oversight.
• Report on results.
• Close out the grant.

Consider, how will your grant recipients report on their progress? 

As the grantor, you may require the recipient to send you periodic reports about how the funds are being used and what is being accomplished. You can also set up an auditing program with on-site visits and in-person interviews or presentations.

Getting updates on how your grant money is being used can be crucial to funders, for meeting federal requirements, or making case studies to communicate your organization’s impact.

In Submittable, grantmakers often build additional online forms to collect follow up information and project updates. 

Other grant reporting best practices include forging partnerships, structuring the report for learning, and seeking feedback from applicants. 

The post-award period is also a crucial time to reflect and report on your own internal process. 

• What worked well? What didn’t? 
• Did your organization hit goals for efficiency, applicant numbers, diversity and more? 
• What rules and regulations should you revisit or add?

Digging into the data and analyzing the outcomes is the first step in understanding past results to inform future action. 

Visualize your impact and measure collaborative results with Submittable’s Advanced Reporting.

Upon completing all the closeout requirements, including a review of the final financial reports and results from the awardee, the grant lifecycle comes to an end.

There’s a lot involved in the grant management process, but the right grant management software can make it easier to handle–and produce more-impactful results. 

We’d love to help. To learn more about how Submittable can simplify your grantmaking process, including creating and hosting your grant application form,  watch our demo video .

Keriann Strickland leads the content and product marketing teams at Submittable. She's a recovering journalist, mountain lover, and gifted spiller (and speller).

Better grants management starts here

Try the trusted and intuitive option for streamlined grants management.

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About Submittable

Submittable powers you with tools to launch, manage, measure and grow your social impact programs, locally and globally. From grants and scholarships to awards and CSR programs, we partner with you so you can start making a difference, fast. The start-to-finish platform makes your workflow smarter and more efficient, leading to better decisions and bigger impact. Easily report on success, and learn for the future—Submittable is flexible and powerful enough to grow alongside your programs.

Submittable is used by more than 11 thousand organizations, from major foundations and corporations to governments, higher education, and more, and has accepted nearly 20 million applications to date.

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Planning vs. program grants - part 1 of 2.

We get enquiries almost every day asking when the updated version of Program Planning & Proposal Writing will be available. Even though this classic guide for the nonprofit field was written in 1972, it's still in demand. With more than a million copies used and treasured by organizations all over the globe, we are delighted to tell you that the updated version will be ready this October!

In the meantime, here's a sneak peek, just a small slice—the first part of a 2-part excerpt from the addendum of Grantsmanship: Program Planning & Proposal Writing . The topic is the difference between a planning and an implementation (or program) grant proposal. Enjoy!

Adapting the Grantsmanship Center Model:

Planning grant proposals.

Recognizing the crucial role of planning in large-scale community projects, some funders offer planning grants. This type of grant results in a broadly accepted community plan of action. Some funders require grant seekers to successfully complete a formal, community planning process before they compete for an implementation grant.

Planning grants and implementation grants produce different types of results. A planning grant results in a product—a plan of action. An implementation grant results in a change in the problem itself.

An implementation grant is the same thing as a program grant, and follows the basic Grantsmanship Center Model. 

While developing a proposal for a planning grant is much the same as developing a request for a program grant, there are a few important differences. Let’s look at the most critical sections of a grant proposal in terms of these differences.

PROBLEM SECTION

Planning proposal.

The Problem Section offers solid, well-supported evidence of the problem in the target service area. If the target area is one neighborhood in a large urban area, citywide or countywide data isn’t good enough. You’ll need neighborhood or ZIP-code specific information. 

Once you’ve defined and documented the problem and the significance of the situation, you must explain the causes of the problem. Community groups will have varying perspectives on what’s causing the problem, and each viewpoint must be carefully explored. It’s impossible to plan effective approaches for addressing a problem unless you know why the troubling situation exists.

Program Proposal

The discussion of the problem is almost identical to that of a planning proposal. If a planning process has been done prior to development of the program proposal, you’ll have a great wealth of hard data and anecdotal information to use.

OUTCOMES SECTION

The long-term GOAL of a planning grant is a reduction in the problem. But the specific OUTCOME to be produced by a planning grant during the project period will be a product—a plan of action. The plan should be well-reasoned, broadly accepted, and designed to address factors that are causing the problem. To the greatest extent possible, the plan should be based on solid evidence that the approaches identified are likely to succeed. Here’s an example of a proposed outcome for a planning grant:

Within eight months, an Action Plan will be adopted by the community coalition:

• The Action Plan will be based on research or other evidence that the proposed approaches are likely to be effective in addressing the problem;
• Process documents will verify that the eight targeted segments of the community were vigorously engaged in data gathering, research, and planning

The long-term GOAL of an implementation grant is also a reduction in the problem. But the proposed OUTCOMES will be specific, measurable changes in the problem, or in factors causing the problem. These changes will take place during the period of grant funding. Here are examples of outcomes for a program to address poverty:  

a) By the end of the five-year implementation period, 200 new, long-term, full-time jobs paying above minimum wage will be in place in the target community.

b) By the end of the five-year implementation period, the unemployment rate in the target community will have dropped from the current average of 25 percent to an average of 15.

METHODS SECTION

The Methods Section provides a detailed blueprint of how you’ll conduct the planning process. Who will lead the charge? Who has agreed to participate? What’s the time line? What are the specific questions the process will address? What community resources is your group bringing to the table – meeting space, social media, reporting? Will you bring in experts to discuss the data or to help explore the most promising approaches for addressing the problem?

For an implementation proposal, the Methods Section provides a detailed description of exactly what the community will do to address the problem. It tells the reader specifically what the Action Plan is and how it will be implemented. You’ll lay out the major components of activity and describe who will do what, and when and how they’ll do it. You’ll describe the roles and responsibilities of the various groups involved and the resources the community is providing for the effort.

We welcome you to link to these pages and to direct people to this information on our site. 

Please contact us for permission if you'd like to use this copyrighted material in some other way: 

[email protected] .  We love to hear from you!

© Copyright 2014 The Grantmanship Center. All rights reserved.

You're welcome to link to these pages and to direct people to our website. If you'd like to use this copyrighted material in some other way, please contact us for permission: [email protected] . We love to hear from you!

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A follow-up study of 385 of our graduates found documented that they won grants totaling over $21 million within just six months of completing the 5-day Grantsmanship Training Program ® . Our training produces results!

Difference Between a Business Plan & a Business Proposal

• Small Business
• Business Planning & Strategy
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Why Create a Business Plan?

How to rescind a business letter, 6 types of business plans.

• How to Create a New Business Plan
• How to Conclude a Business Plan

A business plan and a business proposal are very different documents, with different purposes and goals. A business plan is a factual broad description of a company on the executive and operational level. A business proposal is a focused sales document intended to describe how a company will approach a project, state the value of the project to the client and solicit the client's business. A business plan is a written presentation of fact. A business proposal is a quote and call to action.

Reasons for a Business Plan

A business plan documents your vision for your business and how you intend to achieve that vision. It contains financial projections of what the business will cost to develop and operate plus an estimation of the revenues to be generated. Its purpose is to provide a reasonably detailed explanation of your business for use by potential investors, suppliers, prospective employees, accountants, attorneys and other people who need a quick but comprehensive understanding of what your company does and its potential for success. The primary reason for a business plan is to record and convey information.

Reasons for a Business Proposal

Proposals may be unsolicited business ideas presented to a potential customer or partner, or they may be answers to requests for proposal submitted to your company by a potential client. They are limited in scope to a particular project or need. A business proposal also generally has a specific audience. The primary reason for a business proposal is to solicit or develop a business opportunity.

Business Plan Structure

A business plan has three elements: description of the business model, the marketing model and financial projections. It consists of informative sections, including the executive summary, business description, marketing model, analysis of industry competition, build-out plan, operations plan, introduction of management, and a discussion of financial issues and projection of results. It is introduced by an executive summary, which can be a dense abstract or a longer marketing tool to attract interest in the business plan. The business plan is an informational document designed to factually display your company's operations and potential.

Business Proposal Structure

A business proposal written in response to a Request for Proposal (RFP) should follow the format requested in the RFP. Generally, this involves a quick description of your company's services and products that are relevant to the goals of the RFP, a reiteration of the scope of work, answers to specific questions posed in the RFP and a quote detailing materials, tools, labor, delivery and other elements of the cost of the project.

An unsolicited business proposal intended to create and develop a business opportunity follows essentially the same format but anticipates questions the potential client might have. A proposal is more of a marketing document, designed to convince the audience to do business by presenting a value proposition and a call to action.

• Entrepreneur: An Introduction to Business Plans
• Forbes: The Difference Between a Business Plan and Planning

Victoria Duff specializes in entrepreneurial subjects, drawing on her experience as an acclaimed start-up facilitator, venture catalyst and investor relations manager. Since 1995 she has written many articles for e-zines and was a regular columnist for "Digital Coast Reporter" and "Developments Magazine." She holds a Bachelor of Arts in public administration from the University of California at Berkeley.

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• 1 5 Types of Business Documents
• 2 What Does a Business Plan Consist Of?
• 3 The Importance of a Business Plan
• 4 What Is the Relationship Between the Business Plan, Marketing Plan & Sales Plan?

Grant Writing Business Plan Template & Guidebook

Are you starting a grant writing business and looking for resources to help you get off the ground? Look no further than The #1 Grant Writing Business Plan Template & Guidebook! This comprehensive guide will walk you through the process of developing a successful business plan for your grant writing venture so you can get started on operating a successful business.

Get worry-free services and support to launch your business starting at $0 plus state fees.

• How to Start a Profitable Grant Writing Business [11 Steps]

How to Write a Grant Writing Business Plan in 7 Steps:

1. describe the purpose of your grant writing business..

The first step to writing your business plan is to describe the purpose of your grant writing business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a grant writing business:

Our mission at Grant Writing LLC is to provide our clients with the highest quality grant writing services to enable them to secure funding for their projects and initiatives. We strive to create successful grant plans that get results, and ensure our clients have the resources needed to make their visions a reality.

2. Products & Services Offered by Your Grant Writing Business.

The next step is to outline your products and services for your grant writing business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your grant writing business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your grant writing business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your grant writing business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

Form an LLC in your state!

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a grant writing business?

Equipment: Computer with internet access, printer, scanner, office supplies. Supplies: Documents like business contracts and invoices plus software for researching grants, writing, editing and formatting proposals. Permits: Depending on the state or municipality that the business is located in, permits may be required. Consult a local business attorney or government agency to determine if any are needed.

5. Management & Organization of Your Grant Writing Business.

The second part of your grant writing business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your grant writing business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Grant Writing Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a grant writing business varies based on many different variables, but below are a few different types of startup costs for a grant writing business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your grant writing business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your grant writing business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your grant writing business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Grant Writing Business Plans:

Why do you need a business plan for a grant writing business.

A business plan for a grant writing business is essential to detail the objectives of the company and develop strategies to reach those objectives. It will also help identify potential funding sources, market needs, and track progress. Additionally, a business plan can provide potential investors or lenders with insights into the integrity and potential of a grant writing business.

Who should you ask for help with your grant writing business plan?

It is advised to seek help from experienced grant writers, business consultants, and financial advisors. These professionals can provide helpful advice and insight on how to structure your business plan, assess the viability of your ideas, develop a budget, and understand the requirements of the grant process. Additionally, local small business development centers (SBDCs), Small Business Administration (SBA) offices, and Chamber of Commerce chapters may offer assistance with developing a business plan.

Can you write a grant writing business plan yourself?

Yes, it is possible to write a grant writing business plan yourself. However, it is important to be knowledgeable about the specific needs of the grantor, budgeting, and the application process in order to ensure success. Researching and consulting with experts may be helpful in developing an effective plan.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

2024 federal budget's key takeaways: Housing and carbon rebates, students and sin taxes

Budget sees nearly $53b in new spending over the next 5 years.

What's in the new federal budget?

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Finance Minister Chrystia Freeland today tabled a 400-page-plus budget her government is pitching as a balm for anxious millennials and Generation Z.

The budget proposes $52.9 billion in new spending over five years, including $8.5 billion in new spending for housing. To offset some of that new spending, Ottawa is pitching policy changes to bring in new revenue.

Here are some of the notable funding initiatives and legislative commitments in budget 2024.

Ottawa unloading unused offices to meet housing targets

One of the biggest pillars of the budget is its housing commitments. Before releasing the budget, the government laid out what it's calling Canada's Housing Plan — a pledge to "unlock" nearly 3.9 million homes by 2031.

The government says two million of those would be net new homes and it believes it can contribute to more than half of them. 

It plans to do that by:

• Converting underused federal offices into homes. The budget promises $1.1 billion over ten years to transform 50 per cent of the federal office portfolio into housing.
• Building homes on Canada Post properties. The government says the 1,700-plus Canada Post offices across the country can be used to build new homes while maintaining postal services. The federal government says it's assessing six Canada Post properties in Quebec, Alberta and British Columbia for development potential "as a start."
• Rethinking National Defence properties. The government is promising to look at redeveloping properties and buildings on National Defence lands for military and civilian use.
• Building apartments. Ottawa is pledging a $15 billion top-up to the Apartment Construction Loan Program, which says it will build 30,000 new homes across Canada.

Taxing vacant land?

As part of its push on housing, the federal government also says it's looking at vacant land that could be used to build homes.

It's not yet committing to new measures but the budget says the government will consider introducing a new tax on residentially zoned vacant land. 

• Freeland's new federal budget hikes taxes on the rich to cover billions in new spending
• Are you renting with no plans to buy? Here's what the federal budget has for you

The government said it plans to launch consultations on the measure later this year.

Help for students 

There's also something in the budget for students hunting for housing.

The government says it will update the formula used by the Canada Student Financial Assistance Program to calculate housing costs when determining financial need, to better reflect the cost of housing in the current climate.

The government estimates this could deliver more aid for rent to approximately 79,000 students each year, at an estimated cost of $154.6 million over five years.

• Updated Federal budget's funding boost for defence spread out over multiple years
• Liberals pledge $9B in new money for Indigenous communities in 2024 budget

The government is also promising to extend increased student grants and interest-free loans, at an estimated total cost of $1.1 billion this year.

Increase in taxes on capital gains

To help cover some of its multi-billion dollar commitments, the government is proposing a tax hike on capital gains — the profit individuals make when assets like stocks and second properties are sold.

The government is proposing an increase in the taxable portion of capital gains, up from the current 50 per cent to two thirds for annual capital gains over $250,000. 

New investment to lead 'housing revolution in Canada,' Freeland says

Freeland said the change would impact the wealthiest 0.1 per cent.

There's still some protection for small businesses. There's been a lifetime capital gains exemption which allows Canadians to exempt up to $1,016,836 in capital gains tax-free on the sale of small business shares and farming and fishing property. This June the tax-free limit will be increased to $1.25 million and will continue to be indexed to inflation thereafter, according to the budget.

The federal government estimates this could bring in more than $19 billion over five years, although some analysts are not convinced.

Disability benefit amounts to $200 per month 

Parliament last year passed the Canada Disability Benefit Act, which promised to send a direct benefit to low-income, working-age people with disabilities. 

Budget 2024 proposes funding of $6.1 billion over six years, beginning this fiscal year, and $1.4 billion per year ongoing, for a new Canada Disability Benefit.

Advocates had been hoping for something along the lines of $1,000 per month per person . They'll be disappointed.

According to the budget document, the maximum benefit will amount to $2,400 per year for low income individuals with disabilities between the ages of 18 and 64 — about $200 a month.

• Federal government plans to lease public lands for construction through new housing strategy
• Alberta premier says she's prepared to take Ottawa to court over housing deals

The government said it plans for the Canada Disability Benefit Act to come into force in June 2024 and for payments to start in July 2025.

Carbon rebate for small businesses coming 

The federal government has heard an earful from small business advocates who accuse it of reneging on a promise to return a portion of carbon pricing revenues to small businesses to mitigate the tax's economic costs.

• What's behind the carbon tax, and does it work?
• Federal government scales back carbon tax rebates for small businesses

The budget proposes to return fuel charge proceeds from 2019-20 through 2023-24 to an estimated 600,000 businesses with 499 or fewer employees through a new refundable tax credit.

The government said this would deliver $2.5 billion directly to Canada's small- and medium-sized businesses.

Darts and vape pods will cost more 

Pitching it as a measure to cut the number of people smoking and vaping, the Liberals are promising to raise revenues on tobacco and smoking products.

• Just Asking  wants to know:   What questions do you have about quitting smoking or vaping? Do you think sin taxes will encourage smoking cessation?  Fill out the details on  this form  and send us your questions ahead of our show on April 20.

Starting Wednesday, the total tobacco excise duty will be $5.49 per carton. The government estimates this could increase federal revenue by $1.36 billion over five years starting in 2024-25.

The budget also proposes to increase the vaping excise duty rates by 12 per cent effective July 1. That means an increase of 12 to 24 cents per pod, depending on where you live. 

• 'Stay the hell away from our kids': Health minister vows to restrict nicotine pouches — but how?

Ottawa hopes this increase in sin taxes will bring in $310 million over five years, starting in 2024-25.

More money for CBC 

Heritage Minister Pascale St-Onge has mused about redefining the role of the public broadcaster before the next federal election . But before that happens, CBC/Radio-Canada is getting a top-up this year. 

The budget promises $42 million more in 2024-25 for CBC/Radio-Canada for "news and entertainment programming." CBC/Radio-Canada received about $1.3 billion in total federal funding last year.

The government says it's doing this to ensure that Canadians across the country, including rural, remote, Indigenous and minority language communities, have access to independent journalism and entertainment.

Last year, the CBC announced a financial shortfall, cut 141 employees and eliminated 205 vacant positions. In a statement issued Tuesday, CBC spokesperson Leon Mar said the new funding means the corporation can balance its budget "without significant additional reductions this year."

Boost for Canada's spy agency 

As the government takes heat over how it has handled the threat of foreign election interference, it's promising more money to bolster its spy service.

The Canadian Security Intelligence Service is in line to receive $655.7 million over eight years, starting this fiscal year, to enhance its intelligence capabilities and its presence in Toronto.

• CSIS chief defends his spies' work after PM casts doubt on reliability of agency's reports
• Trudeau says it's his job to question CSIS intelligence, call out 'contradictions'

The budget also promises to guarantee up to $5 billion in loans for Indigenous communities to participate in natural resource development and energy projects in their territories.

These loans would be provided by financial institutions or other lenders and guaranteed by the federal government, meaning Indigenous borrowers who opt in could benefit from lower interest rates, the budget says. 

ABOUT THE AUTHOR

Catharine Tunney is a reporter with CBC's Parliament Hill bureau, where she covers national security and the RCMP. She worked previously for CBC in Nova Scotia. You can reach her at [email protected]

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Utah Digital Access Plan Approved and Digital Equity Capacity Grant Announcement

Kaitlyn Clarke April 17, 2024 Broadband

The Utah Broadband Center (UBC), part of the Governor’s Office of Economic Opportunity, announced the official approval of Utah’s Statewide Digital Access Plan . This comprehensive action plan, spanning the next five years, is a roadmap to ensure digital access for every Utahn. 

This significant milestone was preceded by the National Telecommunications and Information Administration’s (NTIA) announcement of the first round of the Digital Equity Capacity Grant Program, which will tentatively allocate $7.8 million to Utah.

“We are pleased to announce the approval of Utah’s Statewide Digital Access Plan, a pivotal step forward in our commitment to digital inclusivity and economic empowerment across the state,” said Rebecca Dilg, UBC director. “This plan lays the groundwork for a future where every Utahn, regardless of location or background, can access the digital tools necessary to access online education, healthcare, and economic opportunities.” 

The Digital Access Plan addresses the fundamental aspects of participating successfully in the digital world: access to affordable high-speed internet, safe and reliable devices, and training to achieve digital independence. Key strategies include increasing digital skills in the workplace, improving healthcare and telehealth access, developing device refurbishment ecosystems, and building a network of community organizations and stakeholders.

Following a year of meticulous planning, collaboration with subgrantees overseeing local digital access plans, incorporation of stakeholder feedback, and alignment with Utah’s Broadband, Equity, Access, and Deployment plans, the Digital Access Plan is a cumulation of statewide efforts tailored to the unique needs of Utah. 

Utah expects to receive approximately $7.8 million in the initial round of funding from the Digital Equity Capacity Grant Program to support digital equity initiatives statewide. UBC is developing a proposal to utilize these funds effectively, guided by the Digital Access Plan. This preliminary funding opportunity is open to states, U.S. territories, and native entities. The application closes on May 28, 2024. 

“Today, Utah is taking a major step toward closing the digital divide and ensuring access for all residents,” said Angela Thi Bennett, director of digital equity at NTIA. “The state’s digital equity plan will ensure that all Utahns benefit from increased availability, accessibility, and affordability of high-speed Internet.”

For more information on the Statewide Digital Access Plan and updates from the Utah Broadband Center, please visit ConnectingUtah.com .

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Biden’s Plan B on Inflation: Turn It Against Trump

Price pressures aren’t easing fast enough to guarantee the interest-rate cuts the president hoped to see by November, so his message is evolving.

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By Jim Tankersley

Jim Tankersley covers economic policy at the White House.

President Biden and his economic team had high hopes about how two years of rapid inflation would play out in the months leading to the November presidential election. Price growth would continue to cool. The Federal Reserve would cut interest rates. Mortgage rates and other borrowing costs would fall. Consumer moods would improve, and so would Mr. Biden’s re-election prospects.

What’s happening instead is more problematic. The inflation fight has stalled. Consumer prices are rising more slowly than they did a year ago, but still hovering at an annual growth rate that is higher than the Fed’s 2 percent target. Investors are recalibrating their expectations for when — or even if — interest rates might start to come down this year.

Mr. Biden is recalibrating as well, as both a Fed forecaster and a politician.

On Wednesday, after the latest inflation data showed an unexpected acceleration in price gains, Mr. Biden again tried to assure voters that he is focused on bringing down the cost of groceries, housing and other staples of everyday life, saying in a statement that “fighting inflation remains my top economic priority.”

Then he waded into the thorny territory of commenting on how the Fed, which is independent of the White House, might set interest-rate policy in an election year.

“I do stand by my prediction that before the year is out there will be a rate cut,” the president said when asked about the Consumer Price Index report. “This may delay it a month or so. I’m not sure of that. I don’t, we don’t know what the Fed is going to do for certain.”

A beat later, he added a veiled shot at his Republican opponent, former President Donald J. Trump.

“We’re better situated than we were when we took office where we — inflation was skyrocketing,” Mr. Biden said. “And we have a plan to deal with it, whereas the opposition — my opposition talks about two things. They just want to cut taxes for the wealthy and raise taxes on other people.”

It is a small pivot for Mr. Biden but an important one, as he seeks to dig out of a deep hole with voters on the inflation issue.

The Consumer Price Index hit a four-decade high of about 9 percent early in Mr. Biden’s term but has fallen over the past two years to about 3.5 percent in March. Voters continue to rank inflation at the top of their list of problems facing the country, and they continue to rate Mr. Trump more highly on economic issues than Mr. Biden.

Mr. Trump oversaw relatively low price growth as president and left office with an inflation rate below 2 percent, a hangover from the pandemic recession, when consumer spending was slow to rebound after the national economy experienced an unprecedented shutdown.

Price growth was accelerating by the time Mr. Biden took office, and it surged in his first few months on the job. That inflation was spurred in part by economic stimulus legislation signed by Mr. Trump in 2020 and another round signed by Mr. Biden in the spring of 2021, including direct checks to households.

The nuances of how inflationary pressures grew have not mattered to Mr. Trump and his allies, who have hit Mr. Biden relentlessly on prices.

“No one can afford the cost of Biden’s failed economic policies,” the Republican National Committee said in a release on Wednesday, “but relief is on the way when voters elect President Trump on November 5.”

Mr. Biden has recently amplified a message that is meant to respond to dissatisfaction over inflation. He has proposed sweeping efforts to build affordable housing and new tax credits to help certain Americans afford to buy homes. His administration has taken steps billed as promoting competition, and lowering prices, across several sectors, including a Federal Trade Commission attempt to block a merger of two large grocery chains, which officials said would push up prices for shoppers.

The president has also called out snack-food makers and other companies for so-called shrinkflation — reducing the size of a product like chips or ice cream, while raising prices or holding them constant. And he has appeared in a series of events meant to highlight other proposals to lower costs of some services, like child care and home health care for older or disabled Americans.

Now, he is adding a political contrast as he tries to cast Mr. Trump and Republicans as uninterested in the actual policy work of fighting inflation and as barriers to his own proposals.

The entire exercise has been validated by surveys of voters and how they respond to economic messaging. Democratic strategists have urged Mr. Biden to blame corporate greed for persistent inflation and to hit Mr. Trump for cutting taxes for high earners while in office. Both messages consistently test well with voters, including independents and other groups that loom as critical swing blocs in November.

Democrats have also begun to attack Mr. Trump for proposing to impose new tariffs on imports from China and other countries. Research has shown that the China tariffs, while intended to punish Beijing, ultimately drove up costs for American consumers .

But there is also a sort of policy helplessness underlying the shift. Unlike Mr. Trump, who as president badgered the “boneheads” at the Fed to lower rates , Mr. Biden has stopped short of telling the independent central bank what to do. He has little hope of passing any inflation-fighting legislation in Congress this year. His aides concede that the executive actions he can take to reduce costs are probably marginal, at best, in the context of economywide price increases.

They also remain frustrated at the degree to which voters continue to focus more on inflation than on job growth, which has surged under Mr. Biden.

“Heading into the election season with mortgage and other interest rates at or near their present high levels is certainly a disconcerting prospect for the Biden administration,” said Eswar Prasad, an economist at Cornell University. “The administration is really bothered by the lack of credit for all that’s going right in the economy and the blame they’re getting for all that’s being perceived as going wrong.”

That’s one reason Mr. Biden is trying to redirect the inflation conversation in the campaign, from current conditions to what could make the economy better or worse in the future.

“They have no plan,” he said on Wednesday, referring to Mr. Trump and Republicans. “Our plan is one I think is still sustainable.”

Jim Tankersley writes about economic policy at the White House and how it affects the country and the world. He has covered the topic for more than a dozen years in Washington, with a focus on the middle class. More about Jim Tankersley

City Council adopts revised water, drought plan

Wichita Falls City councilors on Tuesday adopted a new water conservation and drought contingency plans ordinance.

The change means residential customers may allow water from yard irrigation to flow 100 yards from the source rather than 50 yards.

The adopted plan also addresses drought restrictions on raw-water wholesale industrial customers at Lake Kemp. The measure would require the customer to reduce usage by 10 percent if the lake falls to 50 percent of capacity, 25 percent at 40 percent capacity and 50 percent at 30 percent capacity.

The customer would have to halt water use if Lake Kemp drops to 20 percent.

The water plan includes a lengthy discussion of the city’s water needs in the future, describing a dozen possible new sources, including obtaining groundwater from other locations and taking more water from Lake Kemp.

The document concluded there are no feasible alternatives to building a new reservoir, Lake Ringgold, in Clay County. That $440-million project awaits approval by the Texas Commission on Environmental Quality.

In other business, councilors:

• Awarded about $2.32 million to Freeman Paving LLC for the 2024 Asphalt Rehabilitation Project
• Accepted a $138,272 grant from the state for HIV prevention
• Accepted $124, 416 from the state for public health preparedness

Councilors now meet in the Ray Clymer Exhibit Hall at MPEC while city offices undergo a two-year renovation.

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Everyone deserves to succeed. But today, for too many Canadians, especially Millennials and Gen Z, your hard work isn’t paying off like it did for previous generations. Your paycheque doesn’t go as far as costs go up, and saving enough seems harder and harder. It doesn’t have to be this way. Every generation should get a fair chance to get ahead.

One of the biggest pressures on people right now is housing. Young Canadians are renting more than ever and being priced out of their communities. Families are finding it difficult to get a good place to settle down. The cost to build homes is too high, and the time it takes to finish projects is too long. We need to build more homes in Canada, and we need to build them by the millions.

The Prime Minister, Justin Trudeau, the Deputy Prime Minister and Minister of Finance, Chrystia Freeland, and the Minister of Housing, Infrastructure and Communities, Sean Fraser, today unveiled the federal government’s ambitious housing plan, Solving the housing crisis: Canada’s Housing Plan , supported by new investments from the upcoming Budget 2024. At the heart of this plan lies a commitment to make housing affordable. No hard-working Canadian should have to spend more than 30 per cent of their income on housing costs. No Canadian should have to live without knowing they have a safe and affordable place to live.

The plan lays out a bold strategy to unlock 3.87 million new homes by 2031. This includes a minimum of 2 million net new homes, on top of the Canada Mortgage and Housing Corporation’s forecast of 1.87 million being built anyway by 2031. Federal actions in this plan, in Budget 2024, and taken in fall 2023 will support at least 1.2 million new homes, and we call on all orders of government to build at least 800,000 more homes by 2031.

Here’s what we’re doing:

Building more homes by bringing down the costs of homebuilding, helping cities make it easier to build homes at a faster pace, changing the way Canadian homebuilders manufacture homes, and growing the workforce to ensure we get the job done. This includes:

• A Public Lands for Homes Plan to lead a national effort to build affordable housing on federal, provincial, territorial, and municipal lands across the country. We will partner with homebuilders and housing providers to build homes on every possible site across the public portfolio and ensure long-term affordability.
• $15 billion in additional loans for the Apartment Construction Loan Program to build a minimum of 30,000 new rental apartments, in big cities, small towns, and rural communities alike, will be proposed in Budget 2024. With this additional financing, the program is on track to build over 131,000 new apartments by 2031-32.
• Launching Canada Builds, a Team Canada approach to building affordable homes for the middle class on under-utilized lands across the country. Canada Builds combines federal low-cost loans with provincial and territorial investments to scale up construction on rental homes for the middle class, from coast to coast to coast.
• Supporting Indigenous Peoples in urban, rural, and northern areas . We will also provide additional distinctions-based investments for Indigenous housing to be delivered by Indigenous governments, organizations, housing, and service providers.

Making it easier to own or rent a home by ensuring that every renter or homeowner has a home that suits their needs, and the stability to retain it. We’re putting measures to protect tenants against unfairly rising rent payments, leverage rental payment history to improve credit scores, increase the Home Buyers’ Plan withdrawal limit, extend mortgage amortizations for first-time home buyers buying newly built homes, and more:

• Launching a Tenant Protection Fund to provide funding to legal services and tenants’ rights advocacy organizations to better protect tenants against unfairly rising rent payments, renovictions, or bad landlords.
• Leveraging rental payment history to improve credit scores, helping you qualify for a mortgage and better rates.
• Increasing the Home Buyers’ Plan withdrawal limit by $25,000 and extending the grace period to repay by an additional three years.
• Extending mortgage amortizations for first-time buyers buying newly built homes . Mortgage insurance rules will be amended to allow 30-year mortgage amortizations exclusively for first-time home buyers purchasing new builds.

Helping Canadians who can’t afford a home by creating more affordable and rental housing – including for students, seniors, persons with disabilities, and equity-deserving communities – and eliminating chronic homelessness in Canada. This includes:

• Providing $1 billion for the Affordable Housing Fund to build affordable homes and launching a permanent Rapid Housing Stream to build on the success of the previous three rounds of the Rapid Housing Initiative.
• Launching a $1.5 billion Canada Rental Protection Fund to protect and expand affordable housing.

The Prime Minister also announced new measures included in Canada’s Housing Plan to attract, train, and hire the skilled-trade workers Canada needs to build more homes.

• $90 million for the Apprenticeship Service , creating apprenticeship opportunities to train and recruit the next generation of skilled trades workers.
• $10 million for the Skilled Trades Awareness and Readiness program to encourage high school students to enter the skilled trades – creating more jobs and opportunities for the next generation of workers to build Canada up.
• $50 million in the Foreign Credential Recognition Program , with a focus on residential construction to help skilled trades workers get more homes built. Like our previous $115 million investment, this funding will remove barriers to credential recognition, so workers spend less time dealing with red-tape and more time getting shovels in the ground.

Transforming our housing system and solving the housing crisis will take a Team Canada effort. No one level of government, home builder, not-for-profit, or community can do it alone. We need every partner pulling in the same direction to build the homes Canadians need.

This is about realizing Canada’s promise of affordable housing for every generation – and it’s just one of the things that we are going to be doing in Budget 2024. Alongside these measures, we’re getting healthy food on kids’ plates, delivering stronger public health care, making life more affordable, and creating good jobs to make sure every generation can get ahead.

“We are changing the way we build homes in Canada. In our housing plan and Budget 2024, we are delivering ambitious action and investments to build more homes, make it easier to rent or own, and help the most vulnerable with stable housing. This is about restoring fairness for every generation, and housing is at the heart of that.” The Rt. Hon. Justin Trudeau, Prime Minister of Canada

“We are announcing today real, tangible measures that are going to help more younger Canadians get those first keys of their own. We are using every tool at our disposal to deliver housing without delay – because we want to make the dream of homeownership a reality for younger Canadians.” The Hon. Chrystia Freeland, Deputy Prime Minister and Minister of Finance

“Canada can and will solve the housing crisis, and we’re going to do it by getting every home builder, not-for-profit, mayor, city councillor, and premier pulling in the same direction to build the homes Canadians need.” The Hon. Sean Fraser, Minister of Housing, Infrastructure and Communities

Quick Facts

• The Prime Minister today also announced the creation of a new Deputy Minister of Public Lands and Housing position within the Privy Council Office. The Deputy Minister will oversee and report on federal efforts to build more homes for Canadians through the use of public lands, providing a single point of accountability within the public service. An appointment to this position will be announced later today.
• Since 2015, the federal government has helped almost two million Canadians find a place to call home.
• Restore generational fairness for renters, particularly Millennials and Gen Z, by taking new action to protect renters’ rights and unlock pathways for them to become homeowners. Learn more .
• Launch a new $6 billion Canada Housing Infrastructure Fund to accelerate the construction or upgrade of essential infrastructure across the country and get more homes built for Canadians. Learn more .
• Top-up the Apartment Construction Loan Program with $15 billion, make new reforms so it is easier to access, and launch Canada Builds to call on all provinces and territories to join a Team Canada effort to build more homes, faster. Learn more .
• Support renters by launching a new $1.5 billion Canada Rental Protection Fund to preserve more rental homes and make sure they stay affordable. Learn more .
• Change the way we build homes in Canada by announcing over $600 million to make it easier and cheaper to build more homes, faster, including through a new Homebuilding Technology and Innovation Fund and a new Housing Design Catalogue. Learn more .
• The Apartment Construction Loan Program , a $40 billion initiative that will be topped up with an additional $15 billion in Budget 2024 to boost the construction of new rental homes by providing low-cost financing to homebuilders. Since 2017, the Apartment Construction Loan Program has committed over $18 billion in loans to support the creation of more than 48,000 new rental homes. With our recently announced measures , the Apartment Construction Loan Program is now on track to help build over 131,000 new rental homes across Canada by 2031-32.
• The  Affordable Housing Fund , a $14+ billion initiative that supports the creation of new market and below-market rental housing and the repair and renewal of existing housing. It is designed to attract partnerships and investments to develop projects that meet a broad spectrum of housing needs, from shelters to affordable homeownership. As of December 31, 2023, the Fund has committed $8+ billion to repair or renew over 150,000 homes and support the construction of more than 32,000 new homes.
• The Housing Accelerator Fund , a $4 billion initiative that will be topped up with an additional $400 million in Budget 2024 to encourage municipalities to incentivize building by making transformative changes, such as removing prohibitive zoning barriers. To date, the federal government has signed 179 Housing Accelerator Fund agreements which, combined, will fast-track an estimated total of over 750,000 housing units across the country over the next decade.
• The Rapid Housing Initiative , a $4 billion fund that is fast-tracking the construction of 15,500 new affordable homes for people experiencing homelessness or in severe housing need by 2026. The Rapid Housing Initiative also supports the acquisition of existing buildings for the purpose of rehabilitation or conversion to permanent affordable housing units, focusing on the housing needs of the most vulnerable, including people experiencing or at risk of homelessness, women fleeing domestic violence, seniors, Indigenous Peoples, and persons with disabilities.
• Progress on these and other programs and initiatives under Canada’s National Housing Strategy are updated quarterly at  www.placetocallhome.ca . The Housing Funding Initiatives Map  shows housing projects that have been developed.
• On November 9, 2023, we signed a historic Housing Accelerator Fund agreement with the Province of Quebec.
• Building on the success of the 2023 agreement, the federal government will continue to work closely with Quebec to build more homes for Quebecers, including by delivering additional funding through the Housing Accelerator Fund and the new Canada Housing Infrastructure Fund.
• The Government of Canada’s Budget 2024 will be tabled in the House of Commons by the Deputy Prime Minister and Minister of Finance on Tuesday, April 16, 2024.
• Save more young families money and help more moms return to their careers by building more affordable child care spaces and training more early childhood educators across Canada. Learn more .
• Create a National School Food Program to provide meals to about 400,000 kids every year and help ensure every child has the best start in life, no matter their circumstances. Learn more .
• Secure Canada’s AI advantage through a $2.4 billion package of measures that will accelerate job growth in Canada’s AI sector, boost productivity by helping researchers and businesses develop and adopt AI, and ensure this is done responsibly. Learn more .
• Provide the Canadian Armed Forces with the tools and capacity they need to defend Canada and protect North America, advance Canada’s interests and values around the world, and support its members with an overall investment of $8.1 billion over five years and $73 billion over 20 years. Learn more .

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KY3 Digital Extra: The $1 billion Lake Springfield plan; driving more convention business to Springfield

SPRINGFIELD, Mo. (KY3) - KY3′s Steve Grant discusses the $1 billion plan for Lake Springfield and a new push to bring convention business to the city with the Springfield Daily Citizen’s Jack McGee.

Read his reporting:

The Lake Springfield $1 billion plan: https://sgfcitizen.org/government/springfield-greene-county/work-just-beginning-for-lake-springfield-as-final-plan-heads-to-city-council/

Driving convention business: https://sgfcitizen.org/economy-growth/if-we-build-it-will-they-come-springfield-leaders-outline-need-for-convention-center/

To report a correction or typo, please email [email protected]

Copyright 2024 KY3. All rights reserved.

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