There are a number of considerations that might influence the specific type of funders you approach. These include:
❇️ How much funding you are aiming to raise/want to ask for?
If you are looking for funders that will be able to make large grants (above $50,000) you should consider funders like large trusts and foundations, national government, UN agencies, Foreign Overseas Development Departments, INGOS, European Funds and international/national companies. If you are looking for smaller funding for a local event or activity then you might instead approach local embassies, smaller local companies and local faith and community groups.
❇️ How quickly you need the funds.
Some forms of fundraising can be quick wins, while others take a long time! Most application-based fundraising (Trust and Foundations, INGOs, Government sources) will usually take between 3-9 months from application to result. Other forms of fundraising – e.g. faith groups, local businesses or individuals – can be quicker from ask to donation, but only if you already have a trusted relationship already in place, which can take months or years to cultivate. If you need funds faster than a 3-6 month turnaround, it is unlikely that a brand new funder would move fast enough. In this case, events or online fundraising may be a better approach.