Writing a business plan to get grants to start a new business can be a huge challenge. There are small business grants in federal and state governments, and nearly every small business has an opportunity to apply for grants for their business. From grants for technology to grants for women-owned businesses, there are thousands of grants available, but knowing how to write a business plan for grants is challenging--and places you above the others when it comes to decision time to hand out the grant awards. In this article you will learn how to structure a grant application to get a grant for your new business, and be on your way to starting or expanding your new business. Whether you are creating a new division or just starting out, grants for business will help you.
Search online for a business plan template. Enter the phrase "business plan template" into the search engine of your choice. You need to create a business plan before you even begin to think about the grant aspect of your application process.
Write a business plan. You want to be as thorough as possible, and write your objectives, description of the business, and financial statements with clarity and conviction. Have someone proofread your business plan carefully.
Search for grants. Locate the grant you want to apply for with your business plan. Be very careful when searching for grants. You want to pick a grant for which your business is fully qualified.
Tailor the business plan to the grant application. Go through the grant foundation's mission and purpose. Make sure to add some buzzwords from the grant's mission statement in your grant application.
Follow the grant application step by step. Be thorough and answer every question. Revise your business plan throughout the entire process. The business plan is a work in progress; it's never done until the day you mail out the application.
Finalize the grant application. Make sure the application answers every question, that it's well-written and error-free.
Mail the application certified mail, return receipt, or overnight via FEDEX or UPS, so that you get a receipt showing they received it.
Wait for a response. Don't call the grant agency; they'll contact you to let you know whether you received the grant.
Things You Will Need
- Computer with Internet access
- Always call, email or write grant administrators if you have questions. Never guess--always ask--if you have a question about the grant application.
- Don't waste time applying for grants that your business isn't qualified for. You waste your valuable time, the grant committee's time, and you also lose out on other grants that are more in line with your business.