Every year, the Australian government distributes millions of dollars to assist small businesses with funding opportunities and tax relief. Last year, new government grants and schemes were established to help businesses impacted by the COVID-19 lockdowns and restrictions.
With the government’s $90 billion JobKeeper stimulus coming to an end, and countless companies still recovering in the wake of the country’s first recession period in 30 years, perhaps it’s time to establish whether your business is eligible for further financial assistance.
What is a government grant?
A government grant is a sum of money given by the federal, state or local government to fund individual projects, businesses and institutions. Grants should not be classified as ‘free government money’ because those who apply must meet the key eligibility criteria.
CLS team member Amanda Paterson assists Creative Little Soul’s clients with grant applications. She describes the process as writing a business proposal. “Applications need to be relevant to the grant and must detail exactly what the grant will be used for,” she said.
How do you find a grant that is suitable for your business?
Your first step in achieving grant success is to find one that best matches your industry. Search councils, community websites, and government websites to find a grant that best suits your needs.
Amanda’s tip is to set up Google alerts for grants and to say “yes” when signing up to news and community updates. That way you will receive information about grants when they are publicised.
In the hospitality sector, Amanda has been involved with the following business grants for Creative Little Soul’s clients:
Isn’t applying for grants a difficult and time consuming exercise?
As a small-medium size business owner, perhaps you’ve toyed with the idea of applying for a grant. You may have noted a number business fund programs available, but you find the process a little overwhelming. Besides, is applying for a grant worth your time and energy when there is no guarantee you will be approved for funding?
Amanda shares her top tips for grant writing:
- There is a reason for each question. Answer each one.
- Get straight to the point. There’s no need to go into detail about your life story and why you need the money. Explain your plans should be successful in scoring the grant money and how you will implement your strategies.
- Do your due diligence. Research the market and put your findings into your answers. For example: ‘We have found this’, ‘50% of companies don’t do this’ and ‘in the market currently.’
- You need to be a good story teller. There is an art to writing grants, and you need to be able to write the perfect novel.
- If you are grant writing yourself, make sure someone else reads it before you submit. Ask your go-to person ‘do you understand what I am saying?’
- Stick to the due dates and set yourself a timely reminder. Once the grant’s due date has passed, you are not permitted to apply for special consideration. Leave yourself enough time to submit your grant in case of internet or website issues.
- If your grant application is not successful, do not despair. It isn’t because your business is not worthy, it is because someone else’s concept resonated more. File your grant applications away in a safe place and perhaps you can fine tune elements of your previous attempts in your future proposals
- Keep applying for as many grants as you can muster.
Grant writing assistance
Would you like to apply for a grant and help your business get back on its feet after a turbulent year? Great! However, if you are a little lost by the process, and you’d like some further guidance, we’re here to help. Why not book in a strategy call with our very own Chrissy. Amanda, Chrissy and the team have applied for numerous grants for CLS’s clients.