HOW TO APPLY FOR A GOVERNMENT GRANT

Currently there are hundreds of grant funding programs available. So how do you make your grant application a success?

Identifying the right grant for your business early on will save precious time and improve your chance of success. The application process takes considerable time and effort so there is an opportunity cost and impact on your business to consider.

Behind every grant is an intention and it's important to take the time to understand why the grant program was set up and exactly what projects are eligible. It is easy to become enamored by your own work but it's vital that your application stays focused and addresses the needs of the grant maker. Applications that don't fit within the specified guidelines will be immediately eliminated.

It is also important before commencing an application to clearly define your project, goals and objectives. Translating it into tangible and achievable aims will help keep your application on track. Consider developing a position on the scope, purpose and outcomes of your project, including why it is a good idea, how you will make it work, who will benefit from it, how it will be evaluated, costs and contributions involved, and importantly, how it is relevant to the specific guidelines of the grant program.

Design business Sprinkle, fashion designer and entrepreneur, applied for a grant through the TCF Small Business Program. This grant allowed Sprinkle to develop an internal structure for her retail enterprise - Sprinkle Emporium - and purchase computer software to assist with running the business. "I went to all the information sessions, downloaded all the available information on the grant and researched it thoroughly, highlighting key points and so forth. Some people employ grant writers to write their applications. If you don't have money to do that you need to be very thorough in your application. I also had the manager of the Brunswick Business Incubator look over my application."

For more tips on applying for a grant, you can download "Transform Your Design Business" — an online guide to assist SMEs to take full advantage of grants and assistance available to them, to help fund new initiatives for local and international markets and kick-start growth and success.

To access "Transform Your Design Business", visit designvic.com/grants