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1. Once you’ve prepared your first application, business plan, and proposal, you have the foundation for ongoing and consistent attempts to get funding. Adjusting your template proposal to meet the needs of different programs makes subsequent applications much easier. It increases your opportunities to apply and your chances at success.

2. If you’re refused by a particular agency, don’t give up. You’ve made your initial contact, and this is an opportunity to build a relationship that will pay off down the road. Ask for constructive criticism. Find out specifically why you were refused. With the insight you’ll get as to what the agency is looking for, use your relationship and name recognition to try again.

3. If you’ve been refused because you don’t specifically meet their requirements, look for partners who do meet the requirements and apply together.

4. When you do succeed with a particular agency, maintain the relationship. Once you’ve had some funding, you have a better chance than ever of getting more.

For information on grants & loans for your new or existing business call 1-800-658-9792 . Or write us at Small Business Funding Centre 1500 Bank Street, Room 425, Ottawa Canada K1H 1B8 or e-mail us.

This Starting a Business article was written by The Small Business Funding Centre on 1/13/2006

The SBFC’s mandate is to help new and existing Canadian small businesses gain access to government funding: helping young entrepreneurs gain the knowledge and tools to get funding to help start-up their own practice. Coincidently, they also have an interesting and educational monthly newsletter/online database containing hundreds of articles related to various business topics and related issues.