Online Learning Academia
Business Grant Writing
Module 9 - Business Grant Request
A. Did you know
1. Requesting a business grant
B. Writing the request
Describe and justify your business needs
C. State the benefits of starting your business
D. Action Plan
Did You Know?
There are a tiny fraction of private organizations that allow individuals to request business grants directly, one of those such organization is the Business Grant Foundation. This foundation wants solicitors to persuade them to let you apply for a business grant of $5,000 or $10,000, Your best approach to convince them to do so is to write a convening business grant request proposal.
Writing a Business Grant Request
A grant request should at the very least include several of the segments that are described in this module. Starting with arguably the most important part of your letter and should be the most informative. Your recipient should be able to make an informed decision about whether to grant you funds, Including the following in your request will help them do so:
Describe and Justify Your Business Needs
Be specific and clear about what your need is. If you are to get a grant through a request, they must first believe that there is a need. This explanation should go beyond the obvious. For example, if to purchase equipment to provide a service, explain why your business needs this equipment, not just you need a grant to start a business.
Consider how to best convince you need a business grant. What information will they be more likely get their attention? Generally, relevant quantifiable data such as statistics and other numerical data should be included, if available, to help describe and justify a need. You may choose, however, to describe the need using a brief story or by quoting those who have been involved in your particular business industry.
It may be the case that meeting the need you described will be or can be seen as difficult. For example, if there is a tight time constraint or you have a tight budget. If there are possible obstacles to your success that are easily identifiable, don’t ignore them. Instead, mention and then counter them – briefly. Minimize them by showing your competency by providing solutions you will encounter as a business owner
The organization should know exactly what it is you are asking of them. For example, if you are requesting a for tool and equipment or a product, the organization should know which tools or how product – a particular monetary amount’s worth? A particular number of items? Even if you are willing to take any amount, state your goal amount. Being unspecific may come across as unorganized, unprofessional, and makes you less likely to receive a business grant.
Remember that you can (and often should) ask for different business grants from different organizations, based on if you meet their eligibility requirements. Remember that the other aspects of your request should be modified to fit the type of grant you are requesting.
Be sure to ask more than once. It is customary to ask once near the beginning of your letter, and once again before closing. Never apologize for asking or for imposing on your recipient’s time. Your request should be reasonable and mutually beneficial, so there is never anything to apologize for.
State the Benefits of Starting Your Business
Ultimately, the grants should clearly benefit not only your personal interest, but your customers and community as well. Make sure that you state clearly and in concrete terms what the grant you are requesting will do for all parties, particularly if you are writing to a business or other formal organization.
When requesting a grant, make it clear what their funding will do. After all, you have just convinced them of the need for their grant, and now you must show how their grant can and will meet that need. It is important to provide concrete, specific details to help them imagine the impact of their grant and to support your professional ethos as a business.
For most organizations, providing grants is ultimately a business transaction. They may have a specific budget set aside for grants, and you certainly won’t be the only one vying for their grants. Therefore, it is important that the organization sees how giving you a grant will benefit them directly. The benefit for the organization should be clearly identified and should meet their particular values and needs. Possible benefits are:
Providing publicity at your event or through your company or organization
A tax-deduction for their grant, if your organization is so certified
Formal recognition through marketing efforts or materials
Whatever you promise be sure that you can deliver, and make sure to show your them that you can deliver. For instance, if you promise publicity at an event, provide statistics related to how many individuals, businesses, etc. have attended your events in the past. You need to be able to not only provide these benefits, but to convince your the organization that you can provide them.
Now that the grant making organization knows what you need, why you need it, and what their grant will accomplish, tell them exactly how to respond to your inquiry by giving your contact information. Making it easy to get in grant with you if they are interested in your business idea will increase the chance that they will give you a response one way or another.