Take advantage of free money: why applying for business grants should be your number one priority

Systems & Operations

Special thanks to guest author, Stephanie Sang

Highly likely conversation heard and had by our very own Grant Angel, Stephanie:

Grants aren’t a priority right now.” – Business owner

Might as well say no thanks to free money.” – Stephanie Sang, Grant Angel, Granted Consulting

This is a statement I hear incessantly and I’m baffled every time. When business owners say they aren’t prioritizing grants this season or this year, it tells me that they’re giving free money a hard pass.

Here are the top three reasons why business owners say “no, thanks” to complimentary cash:

1. They don’t know what grants are available

Government grants are geared towards particular business activities—investing in marketing overseas, funding to hire staff and technology investment.

Many programs, such as tech investment, don’t last forever. If the grants go unused, they disappear from government budgets and are no longer an option for your business.

2. They base decisions on now

In life and in business, being present—completely in the now—is important. With grants, you always want to be ahead. Being in the know means not missing out. What’s your strategic plan for the next year and where do potential grants fit in?

3. They see grants as ‘one-hit wonders’

Business owners sometimes see grants as playing the lottery—you buy a ticket, you win once, you’re ahead, and you don’t play again.

The opposite is true.

Your business could benefit from multiple grants throughout the year, some will even allow you to offset your investment of the cost-sharing component with another grant!

Companies can do lots to stay afloat on grant programs.

  • There are numerous mailing lists that you can join that will notify you of new programs.
  • Check with the business associations that you are involved with, they may have some resources.
  • Look at grant sites such as Innovation Canada where there are other resources such as advisory support and loan programs for initiatives that may not be grantable.
  • Contact a grant consultant and have them walk you a grant strategy for your business. They will watch out for grant opportunities and be your concierge notification system when new grants match your business needs.
  • Do it yourself. Solutions like GetGranted are out there to help SMEs gain peace of mind by tracking new grants and program changes.

Here’s the bottom line. Grants are available for business in Canada. ‘Free money’ should always be a priority. Whether you manage the process on your own or outsource a fractional grant department, go get your first grant today!

Stephanie Sang is founder of CEO of Granted Consulting, a Vancouver-based consulting company that helped over 750 small and medium-sized businesses in the last nine years to leverage grant funding with a 92% success rate.

Known locally as the Grant Angel, Stephanie launched GetGranted, an online platform that matches business grants to the needs of companies in Western Canada. This tool provides a dynamic list of grants, email notifications when new grants launch, resources such as consolidated summaries and videos and a dashboard to keep grants in order. The GetGranted system was designed to set you up for grant success!

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Incrementa (un)consulting is your partner in transforming your business. Our goal is to help achieve your audacious business goals and dreams.

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