While every single person and we mean every single person will have the “best strategy” to getting government funding for you small business in australia, not all of these strategies are first of all going to work for every type of business, nor are they guaranteed to work for you.
However there are a few smart strategies that can help you get closer to government funding. These strategies are the same for every location, for every industry and for every funding purpose.
Here are top 5 smart strategies to getting government funding for your small business:
- Have a business plan created
- Professionally have your business plan reviewed
- Ensure you search for multiple programs for multiple funding purposes
- Have your funding applications reviewed before you send them out to apply
- Get professional help
A business plan is often the first thing that funding agencies look at when deciding to fund or not fund your small business. Thus making the need of a business plan one of the first things you should ensure you have before starting your search for funding.
Next step is to get help with your business plan. Even though you think you know how to write, like I do – you probably need a bit of help so be sure to get a professional to review your business plan before you take it to the next level. And remmeber sometimes a second look at your business plan, even from friends and family can help improve it.
When you decide that you need to apply for funding be sure to break down your funding needs into smaller groups. For example, instead of asking dor $50,000 to help your small business, try and be more specific as to what you need. For example, $10,000 for purchase of tools, $25,000 for hiring and training staff and $15,000 for R&D. This will help you find multiple funding programs to apply to instead of just one.
Just like having your business plan reviewed by somebody, you want to have your funding applications reviewed. Sometimes it’s just a simple mistake or a missed box to check off that can mean ths difference between getting accepted for funding or not.
And lastly get help from a professional. Hiring help to work with you and to provide you assistance along the way is one way to ensure you have success getting government funding.
Take the time you need and review these 5 strategies to help you when it comes to funding.