As our series on how to get the best from grant schemes across the North East continues, John Atkinson looks at how NBSL monitor and the importance of keeping your project on track to ensure you get the best from grant support. Your funding partner is here to help and good communication is key to successful funding.
Many schemes will set a schedule of monitoring dates for your project. This will vary depending on the value of the project and the duration of the contract period.
The aim of the monitoring visits is to check on progress with the project and that the activities are on schedule to be completed within the contract period.
These are important contact points and you will need to supply the necessary information to the funding organisation. This is part of your agreement in return for the grant.
All along your journey to grant payment, the funding body is wanting to help ensure your experience is as straightforward as possible. Any issues that you may have, raise them as early as possible.
If you are running behind schedule for any reason, be honest with the funders. They want to see their money spent and will recognise that sometimes things do not go according to plan.
If something happens which will substantively change the delivery of your project then speak to the monitoring body as early as possible. Do not leave calling them until the final day of claiming the grant to ask for an extension. You should be demonstrating that you are in control of the project and any request for an extension is made in a timely fashion with a sound justification for your case.
Remember, good communication is key to successful funding and your funding colleagues are here to help – keep them informed of progress – it could speed up your grant. And be warned, if you don’t keep to your agreed dates, you could compromise your funding.
NBSL have a number of support programmes available to businesses across the North East.
The North East Business Support Fund is now live for applications and more information can be found here https://www.nbsl.org.uk/nebsf
