Grant Cycle Services Beneficiary

Supporting Grant Beneficiaries

At BDO, we're all about helping you unlock the potential within your company through grants and incentives. We know that finding extra funding can give you the breathing space you need to innovate, expand, and stay ahead of the competition.

Why should grants and incentives matter to you?  Well, they're like a springboard for your business.  Grants and incentives can offer financial relief that helps lower the cost of your projects and operations.  With the right funding, you can invest in research and development, pushing the boundaries of what your business can do.  Extra funding means you can scale up faster, enter new markets, and increase your workforce.   Incentives can improve your cash position, giving you more flexibility in how you run your business.

We're here to help you navigate the maze of available grants and incentives, identifying the ones that align with your business goals. Our team is dedicated to ensuring that you don't miss out on any opportunities to secure funding that could make a significant difference to your business.

We also know the importance of staying on the right side of regulations. Our experts can guide you through the compliance maze, ensuring that your operations meet all necessary legal and financial requirements.

Please click on the steps of the grant cycle that you are interested in below to see how BDO can support you.

Here are some of the key benefits of grants and incentives for businesses and organisations:

  • Financial support

Incentives and grant programmes provide financial support to businesses, helping them access capital, reduce costs, and improve cash flow. This can be in the form of grants, tax credits, rebates, low-interest loans, or other financial incentives, which can significantly impact a company’s bottom line.

  • Business expansion

Incentives and grants can facilitate business expansion initiatives, such as opening new facilities, expanding into new markets, or launching new products or services. These programmes can provide funding for market research, feasibility studies, and other essential activities that support business growth.

  • Innovation and R&D

Incentives and grants can incentivise businesses to invest in research and development (R&D) activities, driving innovation and fostering technological advancements. This can lead to the development of new products, processes, or technologies, giving businesses a competitive edge in the market.

  • Talent acquisition and retention

Some incentives and grant programmes are designed to support businesses in attracting and retaining top talent. These programmes can provide funding for workforce training, skills development, and employee retention initiatives, helping businesses build a skilled and competitive workforce.

  • Sustainability and social impact

Many incentives and grant programmes focus on supporting businesses in adopting sustainable practices, reducing environmental impact, and contributing positively to local communities. This can enhance a company’s reputation, brand value, and customer loyalty.

  • Achieving policy objectives

For public sector organisations, grants can support the organisation in achieving its mission objectives – for example supporting social development or improving access to healthcare.

 

How BDO can help

  • Strategy and planning

Our team works closely with you to understand your business goals, identify relevant incentives and grant programmes, develop a customised strategy and plan to maximize your opportunities. This analysis can either be local or cross-border, capitalising on BDO’s extensive network.

  • Application

We assist you in preparing and submitting applications, ensuring compliance with programme requirements and optimising your chances of securing incentives and grants.

  • Ongoing support 

We provide continuous monitoring and support, keeping you informed about new opportunities, regulatory changes, and updates to incentives and grants programmes, ensuring that you stay ahead of the curve.

 


The elements and evidence to be provided by beneficiaries to support payment requests for incentives and grants can vary depending on the specific programme or government agency providing the funding. However, there are some common elements and evidence that are typically required:

  • Project documentation

This can include a project narrative report, studies, surveys, progress reports – essentially reporting presenting the activities funded

  • Financial documentation

This includes documentation related to the project for which the funding was provided, such as invoices, receipts, contracts, and progress reports. This documentation should clearly demonstrate how the funding was spent, and that it was used for the intended purposes.

Incentives and grants can facilitate business expansion initiatives, such as opening new facilities, expanding into new markets, or launching new products or services. These programmes can provide funding for market research, feasibility studies, and other essential activities that support business growth.

  • Timekeeping records

If the funding is based on labour hours, the company may be required to provide timekeeping records that demonstrate how much time was spent on the project by each employee.

  • Compliance documentation

The company may be required to provide documentation demonstrating that it has complied with any relevant regulations or laws related to the project, such as environmental regulations or employment laws.

  • Audit trail

The company may need to provide an audit trail showing how the payment request was prepared, reviewed, approved, and by whom. 

 

How BDO can help

  • Payment requests and reporting

BDO can assist beneficiaries in preparing and submitting payment requests to ensure timely and accurate disbursement of grant funds. Our team can help you navigate the documentation requirements, financial reporting, and other compliance-related aspects, ensuring that your payment requests are in line with the grant’s terms and conditions.

  • Monitoring and execution

BDO can help you monitor the progress of your grantfunded projects, track milestones, and ensure that the project execution is on track. We can provide guidance on project management best practices, help you identify and address any potential issues or roadblocks, and ensure that grant-funded projects are successfully implemented as per the grant’s requirements.

  • Compliance management

BDO can assist you in ensuring that your projects meet the goals, objectives, and milestones defined in the grant agreement. We can help you prepare accurate and timely reports, monitor compliance, and address any compliancerelated concerns to avoid potential penalties or risks.

  • Performance optimisation

BDO can provide valuable insights and strategic recommendations to optimise the performance of your grant-funded projects. We can help you identify opportunities to enhance project outcomes, streamline processes, and achieve maximum impact from your grant investments.Our team can work with you to develop strategies that align with your business goals, ensuring that your projects achieve the desired results.

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For more information on being a Grant Beneficiary and details on how BDO can support you, read our Grant Cycle services brochure below:
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