If tariffs hit Canada, businesses should get grant-ready if governments move quickly to open funds, much like in the early days of the pandemic. A little prep now can save panic and headaches later.

How to Conduct a Grant Readiness Assessment

Securing grant funding isn’t just about finding the right opportunity -- it’s about ensuring your organization is fully prepared to apply, manage, and report on grants successfully. Conducting a Grant Readiness Assessment helps identify strengths, address gaps, and position your organization for success.

Why Grant Readiness Matters

Being “grant-ready” means your organization has the necessary structure, policies, and documentation in place to meet funder requirements. A solid foundation increases your chances of securing funding and effectively managing grants.

Grant Readiness Checklist

Use this checklist to assess your organization's general preparedness. Do you have:

✅ A clearly defined mission or strategic plan

✅ Strong leadership and board governance

✅ Audited financial statements and budgets

✅ The ability to meet potential matching fund requirements

✅ Clear goals (sales, fundraising) objectives, and measurable outcomes

✅ Well-documented program (or business) history and impact

✅ Possible partnerships and collaborations

✅ A plan for sustainability beyond the grant period

✅ A compelling case for support that aligns with funder priorities

✅ Strong data collection and evaluation methods

✅ A library of essential documents (e.g. financial statements, annual reports, letters of support)

✅ Defined roles for who will write, review, and submit applications

✅ The capacity to evaluate and report on the use of funds

If your organization checks at least some of the boxes, you're on the right track. If not, identify areas for improvement and create an action plan. Strengthening your readiness now can help you seize funding opportunities when they arise.

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