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What is the point of grant funding?

Something happened last week, not once but twice – and it really made me question the value some businesses put on marketing, and where their priorities lie. I independently received enquiries from two businesses both asking the same thing:

There's a grant that ends tomorrow. Please can I have a proposal and quotation so I can put in an application.

I didn’t know either business and I don’t believe either of them know much about BSA Marketing.

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We’ve said it a few times but the government (and the EU) are clearly keen to support SME businesses. There is an extensive range of grants, loans, and other support out there all targeted at helping SME businesses take a more planned and strategic approach to business. OK, the application process can sometimes be a bit bureaucratic but the bottom line is that there are pots of money that YOU can dip your hand into to help develop YOUR business. download (1) Inevitably these pots are only so big and any funding programme will only run for a limited time but why does it keep happening that there is a flood of enquiries just before a fund closes? Is there too much focus on grabbing the money while you can rather than planning what you want to do with it?   But there’s the key; many grants are about business development, and effective, sustainable development requires consideration and planning. So arguably, if you are driven to start applying for a grant because of an availability deadline, is it already too late for the grant to be of any real value to you and your business? The way that funding is administered can make things even worse! Inevitably funding projects have to come to an end; not just in terms of an application cut off but also in a payment cut off. You may have been awarded a grant but if you don’t get the project finished and apply for payment of the money, there is a risk you will miss a deadline and find that you are too late to receive anything! Grant support should be aimed at helping businesses grow, develop and be successful. Some funding can be generous and ease the viability of a project. However, there is also responsibility on the owners and managers of companies applying for grants to ensure that the grant funded project has the best chance of succeeding and delivering on the opportunity. I believe this means that a project should be properly planned and executed and the value of the project to the business is considered notwithstanding the availability of a grant. The project is key. If you are only applying for a grant to try to get your hands on the cash before a deadline, is this really sound business practice? Needless to say, we didn’t engage with our two enquirers!

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David Wright

I combine professional marketing qualifications and experience with a solid understanding of real business to discuss and advise on building business relationships and market awareness, generating leads using effective marketing communication in a down-to-earth, no jargon way. As well as discussing plans and strategies I am keen to 'get my hands dirty'. I work with my clients to make sure things happen! I also have a good understanding of the technical/web aspects of marketing which clients find a real benefit. Technology is a means, NOT an end. My focus is working with business owner/managers, £500K to £10m turnover, to plan, implement and sustain effective market communication and brand awareness as a platform for targeted sales development and business growth.
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