Grants & Funding
Grants
Grants are forms of financial assistance, offered to encourage organisations to undertake or to continue projects and activities that would not otherwise happen. The main sources of grants for UK organisations are: Government Departments and Organisations, Charitable Trusts and Foundations together with the National Lottery.
Grants are normally non-repayable, but they may not be able to meet the whole of the project costs. Organisations may have to fund the rest of the project costs from other sources, including financial loans. A key aspect of grants is that they can give worthy and innovative projects the funds needed to get the ball rolling
The Vision
From the outset, you need more than a clear vision of your project or initiative.
You also need the means to present an equally convincing case for it on paper when making applications to funding bodies.
What is it that your project actually needs to see it through to realisation?
A vision alone is not enough to secure external funding or support.
For success, it needs to be presented as a considered, rounded proposition – with its purpose, methods, costs and benefits expressed with clarity.
Unlocking the Door of Opportunity
What type of funding do you require? And, having determined this, where
do you go in your quest for funding sources?
Undoubtedly, there is a vast range of opportunities available – many thousands, in fact.
The funding scene is something of a quicksand of ever-changing criteria and
opportunities. So, you may want to employ the services of a professional.
There are a number of key factors that can influence the success of your project – among them timing, location, purpose and benefits.
The Defining Moment
Vitally, what is the nature of the support you seek? Is it grant aid, crowdfunding, a loan, sponsorship, or some other means of assistance?
If matched funding is required, what resources do you have available to you?
Modelling your Project
To increase the probability of success, the modelling of your project and the
preparation of your bid(s) should be carried out in a way that is appropriate to the needs and expectations of the funder. Many funding bodies, for example will focus on projects that are making positive change and improving people’s lives.
Where can you find the wealth of knowledge and experience to do this
most effectively? Again, this is where a professional can assist.
Tracking Success
Implementing your project may well have to run concurrently with the need
to keep funders and other interested parties, such as local authorities and governing bodies fully in the picture. This means monitoring progress and managing all stakeholders.
Journey to Your Funding
Initial Project Evaluation
- Understand your business
- Understand your project/idea
- Define project objectives
- Understand existing funding arrangements
Fundraising Strategy
- What you need funding for?
- Where will you raise funding from
- Confirm suitable funding candidates
- Map project objectives to funding requirements
- Create funding plan including timeline
Deliverables
- Deliver Fundraising Strategy paper
Preparing & Submitting Applications
- Work closely with ‘the client’ in preparing funding submissions
- Completing funding submissions
- Submitting funding applications
Deliverables
- Completed application(s)
Managing the Process
- Answer questions from funders
- Monitor progress to conclusion
- Secure funding / payment
Deliverables
- Secure Funding
Objective achieved
- Needs met
- Journey’s end
