Grants and Fundraising can be a crucial part of many companies’ operations. If you don’t have the right access to funds your business may not be able to take on a new project or venture and therefore fail to continue to grow.
For new businesses or ones that have not tackled accessing grants before it can be a difficult process.
Fundraising and grant applications are both avenues that take time to bear fruit. If you go down the fundraising route, depending on the scale and scope of your project, it could take years to raise the capital in order to move forwards with ideas. A common mistake that organisations make is underestimating how long it would take to raise enough money, and misleads everyone involved unintentionally.
When it comes to applying for grants many companies are worried they do not qualify. This often comes from lack of knowledge. You do not have to be a charitable organisation to access grants as the government offers a variety of grants that may be applicable to you. The trick is finding the right grant and knowing how to draft a strong application to prove you deserve the money. Our pride can often get in the way of asking for what we really want, and this can be an issue when fundraising. You have to remember that this is an integral part of the fundraising or grant application phase.
If you have not applied for grants before consider using professional help. Using someone who is experienced in applying for grants and fundraising will result in a much more efficient process and are more likely to keep properly organised. Salisburys Accountants in North Wales have accredited consultants who are well versed in assisting clients in putting together formal grant applications for a wide range of funding regimes. Salisburys Accountants can help you right from the start of the process with initial ‘Expressions of Interest’ right through to preparation of detailed forecasts and business plans and the application itself.