Three myths that prevent entrepreneurs from receiving funding from donors — Igor Komendo, Director NGO GoLOCAL
Almost a million enterprises are registered in Ukraine, but most do not consider grant financing as a capital source. Mainly for two reasons: insufficient awareness of the available donor programs and myths that arise in the business environment precisely because of the lack of coverage of obtaining grants.
In the column for Liga, Igor Komendo, Director NGO GoLOCAL talks about three prominent warnings that support entrepreneurs in obtaining funding from donors and international organizations.
What is this for the donor?
Anyone who invests in a project always needs a result, not a part of the business or a profit percentage. The main goal of grant funding is tangible changes in a specific area of life.
Who should you know?
It is necessary to participate in competitions where the human factor is often absent, and the selection procedure for participants is honest and transparent. If the information is provided through the competition’s electronic cabinet, it is impossible to identify the people who must participate in the application. Sometimes a group of experts who evaluates an application doesn’t know until the end of which project they will work with.
How many documents do you need to collect and submit?
The main thing is not the number of documents, but their essence. If you correctly understand the tasks that the donor sets for you and fulfil all the project requirements, it is not difficult for you to fill out the necessary papers. Those, who understand the importance of receiving a grant, pay special attention to even other requirements for applications — format, fonts, and the like.
Read more about why getting a grant for business development is not as difficult as it seems and how to use this financing opportunity to the maximum via the link.