6 Ways To Finance Your Next Project
There are few schools that have enough capital to carry out a project whenever they want to. When it comes to project finance, budgetary constraints often hold back development, and this has a knock on effect on student motivation and even results.
However when you know where to look there are many places from which you can scoop up a little extra funding to help stretch your budget.
Our experienced team have worked with many schools to help them secure extra funding for a project. So here’s 6 suggestions of where to go for addditional funding next time a project is on the horizon:
- Apply for a Grant from your Local Government. You may be surprised at just how much you can get from your local authority.
- If you are considering a larger capital project, pursue Central Government Grants. This is more relevant for new build or re-build projects.
- Consider asking local businesses for sponsors. Many businesses are willing to invest in their local community as long as they get some form of return from the investment. This could be an advertising opportunity.
- Think about letting out your school facilities or sports areas to the general public. This is an efficient way to generate extra income as it is making use of the school facilities at times when they would otherwise be unused.
- Task the students or PTA with raising a certain amount of funds. Organising a summer fete or holding a sponsored event will give student’s ownership of the fundraising. You will be surprised at what is possible when everyone is committed to making a difference!
- Spread the cost by leasing your project. Sharing the cost over a greater period of time will not only be kinder on your purse strings, but may also have added tax benefits.