Given recent circumstances, grants are being utilised more and more due to the unchartered waters we all are navigating. Grants can be a complex and daunting process for anyone going through it for the first time.
These grants are effective for cashflow issues, strategic project implementation and internal approvals for projects that would not be able to go ahead otherwise. Business should always apply when they see a clear correlation between a proposed project and the grant outlines supplied by the government
We have noted that some government officials are reaching out and encouraging people/businesses to apply – this is always a positive sign not to be ignored.
It must be noted that no two applications are the same, however below we have listed some frequently asked questions that arise from the application process.
What are the steps of the process?
We recommend contacting the relevant person from the area of government that is administering the grant or speaking to an expert in the grants field to begin the process.
If the grant adviser or government representative provides positive feedback during this conversation, you can proceed with the next step. This might include submitting an Expression of Interest form (EOI). The grant adviser should be able to assist in preparation or reviewing your proposed EOI.
If your EOI is accepted, it’s time for the full application.
Do not rush this process, it is important to keep in continuous communication with your government or trusted adviser. Ensuring the appropriate measures are taken is extremely important for securing grants.
How much should you be asking for?
Look at the specifics of the grant you are applying for. Many programs will publicly post information about previously successful applicants online, which can be used as a guide to how much other projects have received.
What is the duration of the grant process?
It is almost guaranteed that the grant will take at least 3 months from submission of the full application to receiving a verdict on the outcome of the application.
Who decides if your grant is accepted?
This is different for every grant. Many are reviewed by an independent committee, appointed by the Government. This committee might meet every 2 months and make recommendations to the Minister or other government delegate on who should receive funding.
What happens if the grant request is accepted?
You will need to negotiate and sign an agreement with the department or agency. This will outline the requirements of the grant and how you will receive the grant money.
Will anyone be able to access my sensitive information included in the grant?
Always ensure to discuss this with the government agency or grant adviser. Usually, the agency administering the grant are held to high levels of privacy and confidentiality
What are the key things to take away from this?
It is imperative to contact an expert grant adviser or the relevant departmental contact to ensure that your grant application is executed properly. It happens too often that grants are rejected due to applications being poorly executed. Spending the extra time will ensure you have the best chance of securing a grant.