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How to Identify Which Tenders or Grants Are Actually Worth Your Time

Every month, a wave of new tenders and grant announcements hits inboxes and portals across Australia. Federal programs. State funding. Local government contracts. Special initiatives. Pilot schemes. R&D subsidies. Export accelerators. It’s a long list—and for time-poor small business owners, it’s tempting to chase every opportunity with a dollar sign attached.

But here’s the truth: most aren’t worth your time.

In this article, we’ll break down how to identify which tenders or grants are actually worth your time, using a practical, strategic framework tailored to Australian SMEs. We’ll cover how to assess eligibility, weigh opportunity costs, and ensure that your effort goes towards opportunities with a genuine return, financial or otherwise.

Because when it comes to grants and tenders, success isn’t about applying more. It’s about applying smarter.

Why Businesses Waste Time on the Wrong Opportunities

There’s a widespread belief that grants and tenders are “free money”. They’re not.

Whether you’re chasing a competitive grant or tendering for a government contract, you’re investing time, energy, and often money into:

  • Research
  • Eligibility analysis
  • Gathering documentation
  • Writing and reviewing the submission
  • Waiting and following up

If the opportunity isn’t aligned with your capabilities or capacity, that investment becomes a distraction, at best. At worst, it creates sunk costs, diverts critical resources, and damages confidence.

Understanding how to identify which tenders or grants are actually worth your time helps protect your most valuable resource: focus.

The Hidden Costs of “Apply and Hope”

Too many SMEs fall into the trap of ‘volume over value’—treating grants and tenders as a numbers game. This leads to:

  • Poorly tailored submissions that fail to stand out
  • Staff burnout from rushed preparation
  • Missed core business opportunities
  • Negative perceptions with funding bodies if multiple low-quality applications are submitted

That’s why the first and most important step is deciding not to apply unless the opportunity truly fits.

Step-by-Step: How to Identify Which Tenders or Grants Are Actually Worth Your Time

Let’s now explore a practical, repeatable decision-making process you can use to vet every opportunity before committing time and effort.

Step 1: Eligibility First, Not Last

Before you get excited about funding amounts or project scopes, confirm:

  • Is your business size/type eligible?
  • Is your industry included—or excluded?
  • Are the geographical requirements compatible?
  • Do you meet the minimum turnover, ABN or trading history?

It’s surprising how many businesses skip straight to the application form without reading the fine print. Skimming this step is one of the biggest mistakes businesses make when considering how to identify which tenders or grants are actually worth your time.

Step 2: Assess Strategic Alignment

Ask:

  • Does this support our current business direction or growth plan?
  • Would we do this project even without the funding?
  • Does it help us reach a new market, customer segment or internal milestone?

If the grant or tender leads you to create something your business doesn’t need or want, it’s likely a detour, not an opportunity.

Step 3: Confirm You Have the Resources to Deliver

This is critical. You must have the capacity to:

  • Scope and submit a competitive application
  • Deliver the project or contract if successful
  • Manage any reporting, auditing, or compliance requirements

If delivering the contract would stretch your team or disrupt operations, it may not be the right time, even if the fit looks good on paper.

Step 4: Understand the True ROI

Time is money, and often overlooked in grant/tender strategy.

Calculate:

  • How many hours will the application take
  • Whether external consultants or writers are required
  • The likelihood of success based on the criteria and competition
  • The value of the funding (or contract) after delivery costs

Then ask: Is this the highest return on investment for our effort this quarter?

If not, keep looking.

Step 5: Look at Past Awardees or Contract Holders

For government programs, check previous rounds. Who received funding? What types of businesses won tenders?

If your competitors are applying and winning—and you’re not—it might be a missed opportunity. If the recipients are radically different from your profile, you may be misaligned.

Knowing how to identify which tenders or grants are actually worth your time also means knowing when to watch and learn rather than jump in.

Red Flags That a Grant or Tender Isn’t Worth It

Watch for:

  • Vague or inconsistent eligibility criteria
  • Excessively complex reporting or application steps for small funding amounts
  • Lack of past recipient transparency
  • No contact person or helpdesk
  • Unrealistic project timelines or budgets

These are strong indicators that the opportunity may not deliver value, or that the administrative burden outweighs the potential benefit.

When You Should Absolutely Apply

Despite the pitfalls, there are moments when a tender or grant is absolutely worth pursuing:

  • The project aligns with your growth or innovation goals
  • You’ve prepared documentation like a capability statement or business case in advance
  • You’re already investing in similar activities (e.g. exporting, digitisation, product development)
  • You have the capacity to deliver without hiring or restructuring
  • You can meet deadlines without jeopardising daily operations

In these cases, submissions are not distractions—they’re accelerators.

Grant vs Tender: The Differences in Strategy

While the assessment framework applies broadly, there are differences in how you approach each.

Grants

  • Usually competitive and one-off
  • Focus on innovation, development, or impact
  • Often require detailed budgets and milestone reporting
  • Success depends on storytelling, impact articulation and strategic fit

Tenders

  • Usually recurring or contract-based
  • Based on capability, capacity, and compliance
  • Focused on service delivery, not innovation
  • Require rigorous documentation and price competitiveness

Knowing the difference helps in identifying which tenders or grants are actually worth your time and choosing the right opportunities for your business stage.

Preparing So You’re Always Ready to Apply

Even if you decide not to apply right now, you should always have:

  • An up-to-date capability statement
  • Key personnel CVs and bios
  • Financial reports and budgets
  • Insurance and compliance documents
  • Project case studies or client testimonials
  • A folder of standard policies and procedures

This “tender and grant readiness” file can save you dozens of hours when the right opportunity arises.

Key Mistakes to Avoid

  • Applying just because there’s money involved
  • Rushing to meet a closing date without preparation
  • Underestimating the delivery or reporting requirements
  • Ignoring past outcomes and public evaluations
  • Assuming a win is purely about writing quality (strategy and fit matter more)

Tools and Portals to Track Opportunities

To stay informed, SBAAS recommends regularly checking:

  • Grants.gov.au
  • GrantConnect
  • AusTender
  • State-specific portals (e.g. Business Victoria, Queensland Government tenders, etc.)
  • Industry peak body announcements
  • Local councils and RDAs

These should be reviewed monthly, not just when you’re in need of funding.

How SBAAS Supports You Without the Fluff

As part of our Actually Supported service model, SBAAS provides clients with:

  • Monthly tender and grant search summaries tailored to their industry and capacity
  • Strategic advice on whether to proceed or pause
  • Capability statement development
  • Performance tracking across submissions
  • Support building internal readiness frameworks

We don’t just tell you where to find the money—we help you decide if it’s worth pursuing.

Because that’s the difference between informed action and hopeful guesswork.

Final Thoughts: Better Fewer, But Better Chosen

Grants and tenders are a powerful way to grow your business, develop new capabilities, and open doors. But only if they’re approached strategically.

Success is not about chasing everything. It’s about chasing the right things—at the right time, with the right preparation.

Learning how to identify which tenders or grants are actually worth your time allows you to move from scattergun application mode to confident, well-timed submissions that truly support your business strategy.

Ready to Save Time and Win Smarter?

SBAAS helps small business owners evaluate opportunities with clarity and confidence. Our Actually Supported™ clients receive monthly grant and tender scans, strategic eligibility reviews, and no-nonsense advice on whether to apply or move on.

Book a consultation today or learn more about SBAAS to stop wasting time on the wrong opportunities and start focusing where it counts.

Picture of Eric Allgood

Eric Allgood

Eric Allgood is the Managing Director of SBAAS and brings over two decades of experience in corporate guidance, with a focus on governance and risk, crisis management, industrial relations, and sustainability.

He founded SBAAS in 2019 to extend his corporate strategies to small businesses, quickly becoming a vital support. His background in IR, governance and risk management, combined with his crisis management skills, has enabled businesses to navigate challenges effectively.

Eric’s commitment to sustainability shapes his approach to fostering inclusive and ethical practices within organisations. His strategic acumen and dedication to sustainable growth have positioned SBAAS as a leader in supporting small businesses through integrity and resilience.

Qualifications:

  • Master of Business Law
  • MBA (USA)
  • Graduate Certificate of Business Administration
  • Graduate Certificate of Training and Development
  • Diploma of Psychology (University of Warwickshire)
  • Bachelor of Applied Management

Memberships:

  • Small Business Association of Australia –
    International Think Tank Member and Sponsor
  • Australian Institute of Company Directors – MAICD
  • Institute of Community Directors Australia – ICDA
  • Australian Human Resource Institute – CAHRI
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