How to get a grant from the state for business

State grant programs are a great opportunity to attract additional funding to support and develop your own business.

However, not every citizen of Ukraine understands the issues of obtaining grant funding. What is the relevance of the chosen topic for today?

Therefore, in this informative article, we will talk about how to get a grant from the state for business.

What grant programs from the state exist today?

Currently, there is a government program from the state called "Yerobota", which includes 5 main grants, namely:

• Grant program "Own business" - from 50 thousand to 250 thousand UAH;
• Grant program for veterans and their family members - from UAH 250,000 to UAH 1 million;
• Grant program for the creation or development of a processing enterprise - up to UAH 8 million;
• Grant program for greenhouse development - up to UAH 7 million;
• Grant program for the garden - up to UAH 400,000 for 1 hectare.

According to the application statistics, the most popular is the grant program "Own Business".

How can you get a grant from the state for a business algorithm?

• Analysis of the grant program. To begin with, you should determine which grant program is best suited for a citizen to meet his financing needs and achieve the ultimate goal (building a greenhouse, creating your enterprise, etc.), and then decide on its choice;
• Application submission. To participate in any grant program from the state, you must submit a written application, which must be drawn up by the terms of the grant;
• Development of a business plan. The main criterion for successfully obtaining funding under the grant program is a well-written business plan, which must necessarily contain: statistical data, estimated costs, target audience, marketing, potential risks, and project payback. Everything specified must be justified and convince the grantor to provide funding under the program;
• Passing selection on a competitive basis. It should be understood that any grant program is first of all a competition, where submitted applications and business plans are assessed, and only then is a decision made to receive funding. Also, the grantor may invite the applicant to an interview to make a final decision on the allocation of funds;
• Obtaining financing. If the submitted application is successful, the grantor will necessarily inform the citizen about this, as well as additionally explain the conditions for the use of grant funds;
• Submission of reporting. Although grants are usually provided on a non-refundable basis, they still require reporting on the use of the received funding under the program. Therefore, after implementing his own project, the grant recipient will need to report on the grant funds spent on it.

Independent receipt of grant funding from the state for businesses is a rather problematic task for its implementation in practice, and therefore, for its solution, you should contact proven lawyers from the Prikhodko and Partners law firm.

Our team includes only qualified lawyers who have many years of experience in successfully obtaining funding under both international and state grant programs, which in turn allows us to provide the company's clients with proper legal support in the case. Get in touch!