Business owners can use grant funding to develop a new product or service, reach a new group of customers, or navigate a challenging economic environment. However, seeking and winning grant funding is an investment of time and effort. The application process is a competitive one. Although competing for grant funding is not quite as stressful as pitching to venture capitalists, the process is more complicated.

This guide from TechRepublic Premium will help you identify a grant that fits your idea, build a team to help you compile a proposal, and set a timeline to meet the application deadline.

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BEFORE YOU START

This list of steps will help the grant writing process go more smoothly. Here is how to prepare:

Make sure your proposal is a good fit

Before you start writing your grant application, do a reality check. If your proposal feels like a stretch when you read the eligibility guidelines, it probably is. Competition for grant money is fierce and funders are much more likely to say no than to say yes. Some funders have geographic or other limitations. If your idea is not a good fit for a particular grant, you have two choices: look for another funding source or find another idea.

Look at previous grant recipients

Most grant programs will have a list of organizations that have won grants in the past. Read through this list and consider what programs have been funded. Use this information to shape your own ideas and find the funder that is most likely to support your work.

Improve your chances of grant funding with our in-depth 10-page PDF guide. Previously priced at $49, this is now available for download at just $9. Alternatively, enjoy complimentary access with a Premium annual subscription.

TIME SAVED: Crafting this content required 20 hours of dedicated writing, editing, research, and design.