Basic Components of a Successful Business Grant Proposal
- A summary of your grant proposal.
- A detailed introduction of what your future business, or existing business, is all about.
- An assessment of the needs of your business both at start up and for continued growth.
- The objectives of your business idea.
- The methods with which you plan on building your business.
- A long-term business plan that extends to at least five years.
- Where you plan on getting any future funding.
- A complete listing of all your projected costs for starting a new business or expanding an existing one.
The summary of your grant proposal is often more useful if you write it after you've completed the other components of your proposal. You'll need to summarize all the key points of your proposal and this is usually better done if you have a clear understanding of what those key points are all about. The detailed introduction of the proposal should clearly outline who you are and where you've been. If you've been part of any other businesses in the past you'll want to list them here. The awarding body for the grant wants to know if you have any experience in business. Include a short biography for yourself and any other members of your staff.
The assessment of your needs component of the grant proposal is an important part of the application process. It's this part of the proposal that is going to show that you can accurately assess the problems that you might face when starting your own business. Areas that you should focus on include your purpose for requesting the grant, how the economy will benefit from your business idea, and how you plan on solving any problems that might arise in the future. When completing the objectives portion of the grant proposal it's important that you identify each of the objectives of the goals that you and your business plan on meeting. You'll need to list the amount of money you feel is necessary in order for your business to open its doors.
The methods with which you plan on building your business are essentially your "plan of action". Include justified descriptions of any and all actions that need to be taken in order to see the success of your business plan. Your business plan should be full of details for now and the future. Carefully evaluate the implications that your future business is going to have on the local economy as well as the American economy. Once you've completed all of the basic components of the grant proposal you'll be well on your way to catching the eye of the awarding body of the grant program.
- Take the VentureWorthy survey to find out more about Angel Investors & Grants!