Why Writing Grant Application is an ASSET for your organisation

22 Apr

For small businesses and organisations in Australia, business grants offer more than just financial support. They can be a powerful tool for gaining exposure, building credibility, and accessing new markets. In this blog, we will explore how business owners can leverage grants to enhance their brand visibility, establish credibility, and expand into untapped markets. By understanding the strategic approach to leveraging grants, entrepreneurs and business owners can unlock opportunities for growth and take their businesses to new heights.

Receiving a business grant is an achievement worth celebrating and sharing. Leverage this recognition to gain exposure and increase your brand visibility. Highlight the business grant on your website, social media platforms, and marketing materials. Develop a compelling story and case study around your grant success, emphasising how it aligns with your business goals and values and share the impact the business grant will have on your business and the greater community. By showcasing your achievements, you can attract attention from potential customers, partners, and investors, to grow and expand further. Additionally, consider participating in industry events, trade shows, and conferences where you can showcase your grant-funded projects or innovations. Utilise the exposure gained from the grant to establish your business as a thought leader and industry authority.

The business grant application in itself is an asset to the business, as it can be utilised to update your strategy documents, provide further insight into your business operations and it would have forced you to critically anlayse how your business is operating in its market. The words and responses crafted in the grant application can be translated to your website, used for content creation in marketing and promotional materials, as well as enhancing your strategic lens of your business. These benefits and assets that are created as part of the grant application process are often overlooked and forgotten about as soon as the grant application is submitted.

A business grant can serve as a powerful endorsement of your business's potential and future viability and sustainability. Use it to build credibility and trust among your target audience. Testimonials and case studies from grant programs can also serve as valuable social proof, demonstrating the impact your business has made. Leverage the credibility gained from the grant to differentiate yourself from competitors and build trust with customers. Investors and lenders may also view grant recipients as less risky, making it easier to secure additional funding or investment for future projects.

Business grants can provide the resources and support needed to access new markets. Many grant programs specifically target businesses seeking to expand geographically or tap into untapped markets. Research grants that focus on market development, export assistance, or international collaborations. These grants can provide funding for market research, market entry strategies, product localisation, and promotional activities in new regions. By leveraging grant support, you can reduce the financial risk associated with entering new markets and gain a competitive advantage. Additionally, explore grants that foster partnerships with international organisations or provide mentorship from industry experts who can guide you through the complexities of expanding into new markets. This type of grant arrangement can be a win-win for both parties.

Grant programs often provide networking opportunities that can be invaluable for expanding your business connections. Attend workshops, seminars, and events organised by grant funders to connect with industry experts, potential collaborators, and business mentors. These networking opportunities can lead to further strategic partnerships, joint ventures, and access to new markets, which are all due to being successful grant recipients in the first place. Actively engage in conversations, share your experiences, and seek advice from others who have successfully expanded their businesses (whether they utilised business grants or other funding sources). Networking events can provide insights, referrals, and valuable industry knowledge. Stay in touch with fellow grant recipients to foster long-term relationships and opportunities for collaboration.

Maintaining a positive relationship with grant funders can yield long-term benefits. Stay connected with the grant funders beyond the grant period. Share updates on your progress, milestones achieved, and the impact of the grant on your business and take up any media and promotional opportunities to reach a greater audience. This not only strengthens your relationship with the grant funders but also keeps you on their radar for future opportunities. Participate in feedback sessions or provide testimonials to support the organisation's efforts. Building a mutually beneficial relationship can open doors to additional grants, partnerships, and resources. As I often say, we need to ‘be in it, to win it’. Nobody is going to hand us funds, unless we apply.

Quantifying and showcasing the impact of the grant-funded projects is essential. Develop key performance indicators (KPIs) that are aligned with the key objectives of the business grant (these may have been included in your grant application as expected outcomes and part of the evaluation process). Regularly track and evaluate progress against these KPIs, capturing the results and outcomes achieved throughout the grant project and for a period of time after the project has been completed. Share these success metrics with key stakeholders, grant funders and potential investors. Demonstrating the measurable impact of the business grant not only adds credibility but also positions your business as a responsible and impactful player in the market.

Business grants offer small businesses in Australia opportunities beyond financial assistance. By leveraging grants strategically, entrepreneurs and business owners can gain exposure, build credibility, and access new markets at a lower risk than alternative funding sources. Business grants are an opportunity to showcase your business or organisation through your successful grant achievements to increase brand visibility, utilise the endorsement to build trust, and expand into untapped markets with grant support. Networking opportunities and nurturing relationships with grant funders can provide long-term benefits for you and your business. Finally, measure and showcase the impact of grant-funded projects to highlight your business's success. With a strategic approach, business grants can become powerful tools for growth and transformation.