The Government Funding Search Steps

More often than not the search for government funding for small business owners leads to a big fat “denied funding” stamp on the funding application.

Why is that?

It’s well over 90% of the time due to the simple fact such as lack of knowledge and ultimately it’s human error.

Often it’s as simple as applying to the wrong funding program or applying past the deadline, while other times it can be reasons with your business plan, personal credit.. etc

So what are the best government funding search steps that you should follow?

Simple really. It’s all about proper organization and education.

Following these steps will allow any entrepreneur to come closer to obtaining government funding for their small business in Canada.

Step 1. Understand what government funding truly is and the different types of government funding programs.

Step 2. Know where to apply for funding. Even though they are all government programs, they are not all found in one place and are not offered by the same level of the government.

Step 3. Know what you need before you apply. A business plan is your best friend and tells you a lot as to what you need funding for and how much.

Step 4. Locate the funding programs. This means search by your location, your own industry and for exact funding purposes. Don’t give up if you aren’t successful at first. For example if you run a cleaning business and need new equipment, don’t search for funding to help you buy a broom, vacuum and cleaning chemicals, instead consider searching for equipment funding.

Step 5. Apply on time. Deadlines to funding programs are set for a reason. Don’t be first to apply and don’t be last. However ensure that you know the deadline and that you apply before they are expired.

Applying for funding is as simple as knowing where to apply, when to apply, what to ask for and you must be able to provide what’s requires to ensure you meet the eligibility requirements.