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New Small Business grants for Minority Women: How to Increase Your Chance of Approval

The presentation of the small business grants for minority women proposal is very critical for its approval. The write up and the financials should be professionally done and should reflect the quality of the business and the credibility of the business owner.

      New Small Business grants for Minority Women: How to Increase Your Chance of Approval

Different institutions have different ways of looking at your proposal. Each institution has its own mandate, its own policies and programs. Because you are the one asking for their help, it is also proper that you approach them in their terms. If you want to get the small business grants for minority women that you need, you have to speak to these institutions in their language for them to hear you.

These institutions are grouped in several ways. The basic classifications are based on business type and program types. For your small business grants for minority women proposal, you need to see each of the institution in your shortlist based on their programs. The following are some of the program classifications of these institutions:

      New Small Business grants for Minority Women: How to Increase Your Chance of Approval

1.            Social Development

This group is more concerned with social advancements. Their program may include values and knowledge development. To be able to get small business grants for minority women from this group your proposal should focus on how your project can help the direct and indirect beneficiaries improve their education or upgrade their skills. You can consider getting trainees and equip them with production, marketing or business skills; you can include developmental trainings, values formation and education as part of your outputs. If you plan to give scholarships for your undergraduate workers, then discuss that as a major output of your project.

2.            Economic Development

This group is more concerned with alleviating the economic condition of the society. They are for increasing the income potential of the people involved in the project. They want to see the long term economic development of the beneficiaries’ lives as part of the project components. New small business grants for minority women from these institutions should focus more on the financial targets and how many people will be directly and indirectly affected by the success of the project. They will look for number of beneficiaries assisted and the percentage change as major project outputs. For your grant to be approved, you need to gear your project into viable and sustainable operations and provide income generating opportunities for the people involved.

3.            Environmental Development

Caring and preservation of the environment is the focus of this group. If your project proposal is for the improvement of your process that will decrease the impact on the environment, then you can highlight on your proposal the statistics that the project can create, should the business grant for women be granted.

Speaking their language is not equivalent to up selling your project to get that coveted business grant for women approval. These institutions have a lot of experiences regarding funding proposals. They can smell fraud a mile away. Just be upfront with what you need. And let your great business performance and management with integrity speak for itself. The moment you gain their trust and confidence, your relationship with them will go a long way.

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