Unlocking Opportunities: Grant Opportunities for Women in Business:
Written by: By Caitlin Boucher ,Founder of Angharad Consulting.
We all know the statistics, women are only likely to apply for jobs if they meet all of the criteria but men will apply if they meet just over half. While I’m not here to talk to you about applying for jobs, I don’t want this same statistic to stop women from apply for grants, tenders and funding opportunities to help grow their businesses.
There is a treasure trove of grants out there waiting to be discovered and support women across the country. I’ll give you a quick overview of some grant application tips and where you might find some grants!
The Power of Grants
Grants can unlock incredible opportunities, providing financial support, mentorship, and networking, empowering you to transform your ideas into reality. It can also provide a reputation boost to your organisation, as winning grants tends to come with positive news coverage and demonstrates that your organisation or product was of a high enough standard to be awarded the grant. This can be a great signal to potential investors, clients or customers.
Though it’s always important to go into grant opportunities understanding the requirements. While grants don't need to be repaid, there are always outcomes that need to be delivered in line with your application.
Grant Application Tips
To increase your chances of securing a grant, keep these tips in mind:
Do your homework: Thoroughly research each grant opportunity to understand the objectives, requirements, and evaluation criteria. Tailor your application accordingly but don’t shoehorn your project, product or idea to fit the brief. Grant assessors will notice and you will spend more time than it’s worth trying to make it work. It should be a natural fit!
Have a strategy: Speaking of shoehorning, it’s important to have a strategy and set your foundations before you start. You don’t want to waste time pursuing grants that don’t support your core business so identify what you want the grant funding to support and review your strategy regularly.
Demonstrate return on investment: Now you’ve decided to write an application, make sure you clearly articulate your business, product or idea, its impact, and why you are the best person to bring it to life. Return on investment is what grantors want, but not in the traditional way! They aren’t looking for you to repay the grant, they want you, your business or your product to return their investment in a way that benefits them – so make sure you are aligned with their outcomes, whether it’s boosting the economy, reducing environmental impact, improving childhood education etc.
Gather supporting documents: Prepare your financial statements, business plan, and any other relevant materials. Be organised and showcase your readiness to make the most of the grant. Letters of support are usually a must so it’s great to have a list of people you trust ahead of time so it’s easier to reach out when it comes time for a reference or letter of support.
Seek guidance: Hire experts to support your journey. Grant consultants can help you identify the kind of grants you should be applying for, help you write the applications or even just provide feedback to give you the best chance of success.
Where can you find grants?
The Federal Government offers a wide array of grants across it’s departments. Sign up here for federal grant updates - https://help.grants.gov.au/.
Many states have their own initiatives to support women-owned businesses and innovation more generally. I’m based in Queensland, but I encourage you to find out more about opportunities in your own state! https://www.grants.services.qld.gov.au/#/
Don't overlook the power of local grants! They are typically smaller than Federal and State grants but just as worthwhile, if you’ve identified these as part of your strategy. Research local economic development agencies, chambers of commerce, and women's business associations to uncover hidden gems within your region. The Brisbane City Council grants are found here: https://www.brisbane.qld.gov.au/community-and-safety/grants-awards-and-sponsorships/community-grants
Paid grant portals can also be worth the subscription, depending on your own goals. Check out https://www.thegrantshub.com.au/ and https://grantguru.com/au.
You can also follow me on LinkedIn and check out my Weekly Grant Wrap-Ups for free!
Finally remember, grants not only offer financial support but also open doors to mentorship, networking, and visibility. Seize this opportunity to transform your entrepreneurial dreams into reality and make a lasting impact!
