When it comes to government funding, don’t believe the old saying, ‘Good things come to those who wait’. Because right now, being prepared and proactive will give you the best chance of securing funding for your project.
The impact of the COVID-19 pandemic has been pretty awful, but the environment it’s created could mean your project stands a better chance of getting funding (or more funding than you might have anticipated).
The government urgently needs to stimulate the economy and create jobs, so there are more grants available and more potential for direct funding of projects. When combined with a looming State election in Western Australia, your odds increase again as candidates begin looking for potential election commitments.
Take advantage of this unprecedented opportunity by being prepared AND proactive.
If you’re serious about securing government funding (or bank finance or private investment for that matter), you need to tick off these four essentials:
- Need: Gather the evidence to prove there is a real need for your proposed course of action.
- Well planned: Comprehensively plan your course of action so you’re ‘ready to go’ with risks effectively managed.
- Capability: Prove that your business/organisation has the ability to implement the proposal.
- Benefits: Demonstrate quantifiable benefits for the State (or whoever you’re asking for support from).
So, how do you show you can tick the boxes? Grant applications will always ask you about the above points, but if you’re canvassing for support outside of a specific grant, then you’ll need some documentation to support your position. We help clients with precisely this (as well as grant applications). We can work with you to develop:
- Project Plans
- Stakeholder/Community Consultation Plans
- Needs Analysis
- Feasibility Studies
- Business Plans
- Business Cases
A good choice for many clients is to invest in preparing a business case – giving you a solid base to demonstrate those four key elements to demonstrate preparedness.
You can secure funding through a grant application process – you should definitely be scoping out potential grant funds (we can help you with that). But more importantly, right now, you should be canvassing influencers and decision-makers with your proposal. Not sure how to go about that? We can help with that too.