Each year, State and Federal governments administer significant grant funding programs to support investment in regional infrastructure and service delivery.
These grant funding programs cover a wide range of activities including investment in infrastructure and service delivery including transport, roads, health, education, disability and aged care, and tourism.
Another source of funding comes through election cycles, where political parties make commitments to fund major projects resulting from direct advocacy. These often do not form part of an existing or identified grant program. Recent examples include commitments to fund a regional medical and dental school or highway upgrades.
While the range of funding programs has grown, the competition for funding has increased and the criteria have become more onerous.
Most Government grant programs required a detailed analysis of needs, evidence that the initiative will deliver a proven economic return and strong community support. In most cases, funding is based on a co-investment or concessional investment model.
That means that organisations that want to apply for a Government grant need to think ahead to prepare their case and identify internal sources of funding to contribute to the initiative. This sometimes means partnering with other organisations in a joint funding bid.
While most organisations can easily identify strategic funding priorities over the next 5 years, very few organisations spend the time to sit down and prepare a comprehensive plan mapping out the details of the proposal and how it aligns with Government funding priorities.
Last-minute proposals sometimes struggle because organisations have not undertaken the needs analysis, community consultation, economic analysis, or financial planning needed to ensure success.
This is where a Strategic Grant Funding Plan can help. It allows organisations to take the time to identify projects and initiatives that they would like to get funded over the next 3-5 years, and determine in advance what will be required to ensure the applications are successful.
While Government grant guidelines change over time, a forward-planning approach allows the time to analyse the Government's overall policy objectives and direction. This will help to ensure that, even if guidelines and funding parameters change, you will be able to target your applications in a way that is consistent with the overall direction of government funding and be better prepared to adapt your initiatives to new requirements.
For more information on WRI's strategic grant application planning services, click here
or email email@example.com.