When applying for business grants, several common mistakes can hinder your chances of success. Understanding and avoiding these pitfalls can significantly increase your likelihood of securing funding.

1. Inadequate Research & Preparation

A lack of thorough research is one of the most frequent missteps in the grant application process. It's vital to fully understand the eligibility criteria before applying, ensuring your business meets all the requirements not only at the time of application but throughout the entire project duration.

For example, some grants require businesses to maintain a specific level of local shareholding. This can become problematic for companies, especially well-funded tech startups, that undergo multiple equity funding rounds, diluting their ownership structure and inadvertently violating grant conditions by the time the claims process concludes.

2. Incomplete or Inaccurate Applications

A well-structured and detailed project scope is crucial. Be clear about your project’s objectives, how it will be executed, and the expected results. Avoid vague descriptions and ensure that all required documents, such as financial statements and business plans, are included and accurate.

Errors in cost planning can lead to major complications – if the budget information is inaccurate, the grant offer may be based on wrong information, leading to underfunding and/or other complications during project execution.

3. Overlooking Key Evaluation Criteria

Each grant comes with specific evaluation criteria, and failing to meet these can severely damage your application. A common mistake is including non-eligible expenses, such as off-the-shelf software like HubSpot CRM, in the project budget for grants like the Enterprise Development Grant (EDG). Misunderstanding what qualifies for funding can result in significant shortfalls, leaving your business to cover non-eligible expenses out of pocket.

4. Failure to Define Quantifiable Outcomes

Grant applications often succeed when the outcomes are clearly defined and quantifiable. Laying out measurable impacts allows both you and the grant evaluators to understand the project's significance. For example, if your project aims to improve productivity, you should calculate specific outcomes, such as time saved per process or improvements in staff efficiency, before and after implementation. This quantitative approach makes it easier for Grant Officers to assess the potential benefits of your project.

5. Underestimating Overall Time Commitment

Many applicants fail to realize the full extent of the time commitment required – not only during the application process but throughout the entire project lifecycle, including post-approval obligations. Successful grant management requires careful planning and resource allocation. Many applicants underestimate the time needed for project execution, reporting, and maintaining progress updates, particularly during auditing or claims reporting periods.

Missing these obligations can not only result in the withdrawal of funds but can also damage your business's credibility, affecting future grant funding opportunities.

6. Overlooking Post-Application Processes 

​Contrary to popular belief, your engagement with the grant agency doesn’t end when the application is submitted. It is not uncommon for Grant Officers to follow up with a deluge of questions that require in-depth clarification within a tight timeframe. If the deadlines set by the Grant Officer are unrealistic, you must be able to communicate your situation clearly and request for a reasonable extension.

Applicants who manage the process independently often become overwhelmed by other equally pressing business responsibilities and may miss important follow-ups, risking the termination of their application. It is worth keeping in mind that Grant Officers have every right to terminate an application if timelines are not met. Therefore, relying on their courtesy to accommodate delays is not an approach you want to take.

For companies managing large-scale warewashing, the challenge lies in balancing operational demands with cost control and stringent hygiene standards. This was the case for a leading warewashing solutions provider in Singapore, which embarked on a transformational journey to revolutionize its operations using automation and AI technology.

Founded in 2015, this Singapore-based company has carved out a niche in the F&B industry by offering tailored warewashing management solutions, including off-site and on-site services, crockery rental, and stewarding.

Several key hurdles emerged as manual processes for pre-washing, sorting, and tracking wares had become increasingly labor-intensive, costly, and prone to errors.

• Labor-Intensive Operations: Manual pre-washing and sorting consumed significant time and manpower.

• High Costs: The reliance on manual labor escalated operational expenses.

• Tracking Inefficiencies: Managing and tracking wares manually resulted in frequent errors.

• Hygiene Concerns: Manual handling increased the risk of contamination.

• Excessive Water Usage: Multiple water changes daily added to costs and environmental impact.

A Game-Changing Solution: Automation and AI in Action

• Securing an Enterprise Development Grant (EDG) from Enterprise Singapore together with Real Inbound Consulting, the company initiated a series of automated solutions designed to optimize efficiency, cut costs, and elevate hygiene standards including:

• Automated Soaking and Sorting: Labor-intensive manual soaking and sorting were replaced with automated systems, freeing up staff for more strategic tasks.

• Advanced Dishwashing and Drying Equipment: State-of-the-art machines streamlined the cleaning process, ensuring thorough drying while reducing manual handling.

• AI-Powered Management Software: AI-driven tracking and process management software minimized human errors and significantly improved productivity.

• Water Recycling System: Integrating a water recycling system dramatically reduced daily water consumption, reinforcing sustainable practices.

Navigating the Challenges of Securing a Grant

Securing EDG involved addressing multiple rounds of inquiries to justify the project’s components and requirements, along with adapting to changes in scope during implementation. 

Expert oversight, and management ensured that all necessary documentation was complete and timely, leading to approval of over SGD 100,000 in funding (covering 70% of qualifying costs) that delivered the following results:

• Productivity Surge: Weekly productivity increased by more than 85%, saving over 800 staff hours per week.

• Cost Reduction: Estimated annual savings surpassed SGD 350,000, with a five-year productivity gain projected at nearly seven times the project cost.

• Improved Hygiene: Reducing manual handling significantly lowered the risk of contamination, elevating food safety standards.

• Water Conservation: The water recycling system led to substantial savings in water consumption, highlighting the commitment to sustainable practices.

• Enhanced Customer Satisfaction: Superior service quality and operational efficiency fostered stronger client relationships and higher satisfaction.

  
  

Expert Guidance Where It Matters

Securing grants is far from easy, but with over a decade of hands-on experience, we’ve guided more than a thousand companies to turn bold ideas into successful business outcomes – without the usual headaches.