How to write a winning grant application

Before you begin writing, it’s important to clarify why you’re applying for the grant and how the funding will benefit your business. Funders want to know their financial support will result in a positive impact, both for your business and the community.

Work through the following questions:

1. Why would you like this grant?
2. How will the grant help you achieve your business objectives?
3. Does the project align with the mission and goals of the funding body?

Every grant has a specific eligibility criterion, and it’s crucial your business meets these requirements before spending time on the application.

Criteria can include charitable status, category of your organisation, your company structure, where you are located, ABN status or your delivery catchment. If you’re unsure about any criteria, don’t hesitate to contact the funding body for clarification. It’s better to ask questions early on than waste time on an ineligible application.

A well-developed project plan is the heart of your grant application. This is where you outline exactly what you plan to do, how you’ll do it, and how much it will cost.

Your plan should include:

• Overview of the project and how it meets the requirements of the funder – keep this concise and what the project/activity is and how it will work. What makes your grant stand out against your competitors?
• How it meets you vision or mission – You need to demonstrate how the funding is part of the mission/vision and then how is included in the project/activity.
• Your assessment, evidence, and data are required – along with an analysis of the data, evidence, and outcomes.
• Successes and organisational capabilities – Show what you have done in the past and how it has been successful. Data supports the needs for the project/activity.
• People involved – partners and stakeholders.

Evaluating the costs and benefits is also a crucial part of the planning process. Some of your costs and benefits may include the following:

Costs

• Direct/Indirect costs
• Intangible costs
• Opportunity costs
• Cost of potential risks

Benefits

• Direct/Indirect benefits
• Total benefits
• Net benefits

Demonstrate your business has the expertise, resources, and partnerships needed to execute the project successfully. Consider including previous successes and data to showcase any similar projects you’ve completed in the past, along with outcomes or data that support your ability to deliver results.

It is vital to mention how you’ll measure success. One way to do this is to develop a timeline for the project, including the major milestones.

Funders like to see you’ve considered how to evaluate the project’s outcomes, such as through progress reports, community feedback, or performance metrics.

Your evaluation should include:

• How you will measure and evaluate the project/activity
• This includes how the milestones; outputs meet the funders requirements.
• Income and expense report.
• What were the successes?
• What are the lessons learnt?

Writing a successful grant application requires time, research, and strategic thinking, but the potential rewards are worth the effort. Whether you’re looking to expand your business, support the local community, or fund a new project, there’s a grant out there to help you achieve your goals. Take the first step today by exploring available grants for small businesses on the Mornington Peninsula.

Follow these steps, and you will be well on the way to writing a winning grant application!