When looking for a grant, it’s only natural to look for as large a monetary sum as possible, but that’s not always the best approach to take. Smaller grants might be easier to find and win, especially if you’re a small nonprofit or business just starting out.
Sure, you need lots of capital to fund your new venture, but sometimes several smaller, more specific grants can supply the funding you need while you learn the ropes and develop relationships with funders. At GrantWatch.com, we list grants of all sizes for nonprofits, small businesses, and individuals. We are here to tell you:
Don’t overlook the impact of small grants.
There are 4 things to remember about small grants: size is relative, small grants can be powerful, and small grants are comparable to large grants.
1. The size of the grant is relative.
The size of your organization will determine how large the grant really is. A grassroots organization or a start-up might see a $5,000 grant as sizeable. Sometimes, a small, flexible spending grant can be easier to manage than a large grant with many stipulations. The size of the grant can also be relative to where you are located. $5,000 may go further in Kansas than in New York City.
2. Small grants can provide non-financial support like contacts or capacity building.
Once you prove yourself to grant funders and foundations with small grants, getting larger ones will be much easier.
3. Small grants can be powerful.
They can enable innovation. While they may not be able to fund the entirety of a new program, they could help you buy a computer or two, get supplies you need, pay your utilities for a few months, or acquire new technology or training. Small grants can raise awareness of bigger issues.
4. Small grants are comparable to large grants.
Despite the size of the grant, the grants management process is the same. For instance, awarded grants are often monitored. Also, a small grant can be an anchor for larger funding and growth in the future. And, no organization would be unappreciative of a grant. Any amount of funding is better than no funding at all.
Keep these tips in mind, while you search for grants on GrantWatch.com. Locating grants can be a tedious process, but there are plenty of funding opportunities available to nonprofits, small businesses, schools, and other organizations.