Stimulus Money - A Long Shot

Bill Warner Sunday, July 12, 2009

The likelihood of getting any of the stimulus money into your business is remote, but nevertheless, there is a chance. I read an interesting article in Entrepreneur that gives a step-by-step process for business owners to consider.

Considerations

Taking this on is not for the faint of heart. Do your research to see if it is worth your time.

  • This is big money, a million or more. So, if you are not in that league, this may not be for you.
  • Better know how to sell to the government. If you don’t, your chances are even smaller.
  • Make sure that your industry is one of those targeted for the stimulus money.
  • Follow the process offered by the agencies involved in making the decisions.
  • Understand the reporting requirements and strings attached to the money. You don’t want your business tied down in a process that may be detrimental to your business.

Once you have thought this through and understand how much of your time is going to be involved and what future impacts to your business are at risk, you can decide whether or not stimulus money is for you.

Filed Under: Financing a Company, Business Operations, Managing Business Financials, Business Strategy and Planning



Bill Warner is the Managing Partner of Paladin and Associates, a business consulting firm in the Research Triangle Park area of central North Carolina, and is the Chairman of the Triangle Accredited Capital Forum, an angel investor network with over one hundred members throughout the southeast.

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