Writing a Successful Government Grant Application

The Canadian government has many different business grants and funding options available for small business owners across Canada.

These funding programs, while available, have daunting steps that you have to go through to ensure you can even apply.

Without the proper steps and guidance, applications can quickly be denied.

Writing a Successful Government Grant Application

Once you have taken the time to pick the best government grant or funding option for your small business, the process of applying for the grant is one of the next hurdles you have to face.

While the grant applications vary from program to program, many of the funding options share the same similarities within what is asked of you as a small business owner.

Even though it may seen uncertain at times, the funding applications are designed to allow you to show the government funding agency that you have understood the process and have carefully planned our how you will use the grant funds available.

One of the first steps before you start completing the grant application is to ensure that you have a reasonable amount of your own funding to help cover the costs of your startup project. While you may be able to seek funding to cover many of the expenses; having some capital of your own will definitely improve your chances of getting a government grant, or funding.

In afterwords, your own capital invested into your business will help by sharing the risk.

Before you begin any of the government grant applications it is crucial that you know your own business model and can explain to the government agency how you will use the funding you are applying for.

Successful Government Grant Application Tips

While every government agency has different applications and may ask the business owner for different requirements, these general government grant and application tips will help you get though successfully.

1. Make sure you have read the full application before starting
2. Explain your business history and your skill level
3. Understand the financial position
4. Include all supporting documents as per requirements
5. Don’t go above and beyond – just provide what you are asked
6. Include a cover letter with your application
7. Submit on time

Make sure you have read the full application before starting.

Every application will be unique as each agency may have a different set of questions and requirements that are being asked of you as a small business owner.

Before you begin your applications, read it, top to bottom and make a small checklist of all that you will require before you proceed.

As many applications may be web based, once you start, there is no way to save – so it’s always a good idea to have it all ready in one sitting, to ensure you can submit the application with all requirements.

Explain your business history and your skill level.

As a small business owner, the more you can prove to the government that you have the experience and the skills it takes to run you business successfully, the more trusting a funding agency may be to give you the needed funds.

In other words, be sure to explain as if you were applying to a job; who you are, your skills, experiences..etc that will help you within your business to ensure that your business will be successful, especially with the funds that the government application is for.

Understand the financial position.

When you are preparing your grant applications, you want to ensure that you have your financials prepared and ready to present.

Generally speaking, you want to have a balance sheet, cash flow statement and a profit/loss statement to show a funding agency for up to 3 years.

If you are a new business, a startup, you may be able to project your figures based on what you assume will occur with the business if you are to obtain the needed funds.

It is always a good idea to explain how much funding you need and how this amount of funding will help with your financial situation. The goal is to show the funding agency that the funds you are asking for will help!

Include all supporting documents.

The supporting documents are often where many business owners make the mistake and this results in an application denial.

When completing your grant applications, be sure to include all supporting document that are being asked. This may include your business plan, financial statements, a pitch deck or similar.

If you are asked for the above but don’t have it ready – do not apply until you do.

Don’t go above and beyond and only provide what you are asked for.

Providing only what you are asked is often all that you need to do with the grant applications.

While you may be eager to provide more info, more details and more about your business – it can sometimes backfire and deter the funding agency.

So, provide only what is being asked of you and not much more.

Include a cover letter with your grant application.

Much like when you are applying to a job, an cover letter can go a long way with the introduction.

A cover letter for a government grant application can help introduce you to the agency, by providing the specifics of your business, your skulls and interest – making the application more personal.

When putting together a cover letter, avoid exceeding one page and only pin point the key specifics, referring to your business plan, financials and briefly explaining to the funding agency how you plan on using the funds – and the benefit it would have for your business.

Submit your applications on time.

Application deadlines are constantly changing.

Before you submit any application be sure that you have proof read your work but also ensure that you are not applying too early, or past the funding deadline.

If your applications are sent in too early, they may sit for a bit before being reviewed – and you don’t want to risk being ignored.

If you however apply too late, the application may be declined.

The recommended time to apply it 2 to 6 weeks before the deadline end.

As there are many different government grant and funding options available, the application process may vary from program to program – so be sure to read each application before you begin the application process and ensure that you meet the requirements.