Grant Proposals

Definition:

A formal proposal submitted to a government or civilian entity that outlines a proposed project and shows budgetary requirements and requests monetary assistance in the form of a grant

Every year, corporations, foundations and government agencies dispense billions of dollars in grants to companies for addressing issues these organizations are interested in. Writing good grant proposals is a valuable skill. You can learn much of what you need to know to write a successful proposal by talking to the agency offering the grant. The main parts of a grant proposal are:

  • Abstract. This summary, about a half-page long, should clearly describe your proposed project, much like an executive summary of a business plan.
  • Needs statement. This describes the situation or problem your proposal will address, including supporting evidence. It should focus on the problem you hope to solve with the grant money and make the case that the problem is fixable, that this is the appropriate agency to take on this problem and that the problem is significant enough to warrant funding
  • Project description. This part of the proposal describes the project, explaining how it will solve the problem. It should convince the reader that your way is the best way.
  • Goals. This section should describe the desired outcome of your project. Discuss both long-range goals and specific, short-term objectives, as well as the precise effect to be achieved and the means you will employ. It should be reasonable, measurable and bound to a specific time frame.
  • Action plan. The action plan is a step-by-step description of sequential activities that must be completed to achieve the objectives. It should clearly and specifically say who will do each step, what will be done and when.
  • Evaluation. This describes how the project will be monitored and its results evaluated. It should cover the criteria for measuring progress, say who will be conducting the evaluations and tell when evaluations will be held.
  • Budget. This is where you tell how you’ll use the money you receive. It should be within the amount you’re asking for, be realistic, and include only eligible expenses. Make it detailed enough to satisfy anyone’s curiosity on the question of how the money will be spent, and make sure everything adds up.

Related Content

Product Development

The overall process of strategy, organization, concept generation, product and marketing plan creation and evaluation, and commercialization of a new product

Exit Interview

The formal conversation that takes place between an employee and an HR or other manager to determine the reason(s) the employee is leaving

Primary Market Research

Iinformation that comes directly from the source--that is, potential customers. You can compile this information yourself or hire someone else to gather it for you via surveys, focus groups and other methods.

Credit Policy

Guidelines that spell out how to decide which customers are sold on open account, the exact payment terms, the limits set on outstanding balances and how to deal with delinquent accounts

Mergers

The combination of one or more corporations, LLCs, or other business entities into a single business entity; the joining of two or more companies to achieve greater efficiencies of scale and productivity

Subchapter S Corporation

A special form of corporation that allows the protection of limited liability but direct flow-through of profits and losses