One of the great things about NSW Small Business Month is the opportunity to connect, learn and sharpen our skills.
At The Measured Marketer, we took the opportunity to brush up on our grant-writing knowledge through a workshop hosted by the Hunter Region Business Hub.
And there were some excellent practical takeaways worth sharing with our manufacturing, industrial and B2B business community.
The biggest? Don’t wait until grant funding is announced to start preparing your project.
The opportunity for industrial businesses
Grants aren’t just for community organisations or start-ups.
Depending on the funding program, they can help industrial businesses investigate new technologies, improve productivity, develop innovative products, build workforce capability or pursue new markets.
But grant opportunities have specific eligibility requirements, objectives and deadlines. When a relevant round opens, there may be limited time to develop a compelling application.
Which brings us to one of the most useful reminders from the workshop.
Have your projects ready before the funding appears.
If you’re considering a new capability, an equipment investment, an innovation project or a business expansion, start documenting the opportunity now.
What are you trying to achieve? Why does it matter? What investment is required? And what difference will it make?
You don’t need a grant to have a good project. But having a well-considered project puts you in a much better position when suitable funding becomes available.
Show the impact, not just the intention
Another valuable reminder was the importance of evidence.
A compelling grant application needs to be specific about who benefits, the outcomes you expect and how you’ll measure success.
For an industrial business, that might mean demonstrating increased production capacity, reduced waste, improved efficiency, new employment opportunities or access to additional markets.
And where you have hard data, use it.
Current production figures, productivity measures, customer demand, project costs or evidence of market need can help establish a credible starting point.
Importantly, grant assessors need to understand not only what you’ll deliver, but what the funding will make possible.
That’s a distinction worth thinking about long before you start writing an application.
Know where to look
The workshop also highlighted the value of regularly exploring available funding opportunities rather than relying on announcements finding their way to you.
Two useful starting points are:
Not every grant will be relevant or suitable, and eligibility should always be checked carefully.
But if you’ve already identified the projects that matter to your business, you’ll be better placed to recognise an opportunity when it comes along.
A little preparation could make a big difference
At The Measured Marketer, we spend a lot of time helping businesses understand market opportunities, define their priorities and develop evidence-based plans for growth.
The workshop was another reminder of the value of that thinking.
Whether or not a grant becomes available, understanding what you’re trying to achieve, who benefits and how you’ll measure success makes for better business decisions.
And if the right funding opportunity does appear, you’ll have a valuable head start.
Thanks to NSW Small Business Month and the Hunter Region Business Hub for making practical learning opportunities like this available to local businesses.
