To say the least, the Covid-19 crisis has had a significant impact on our nation’s economy. As a result, businesses around our country and around the world have had to make adjustments to the way they earn revenue and maintain a steady cash flow. Fortunately, there are steps you can take – regardless of the type of business you own – that can help you strengthen and maintain your cash flow as we navigate towards the end of 2020 and into 2021.
As a business owner, you know your company’s finances are like a pulse – you may not think about them constantly, but it is a good practice to check in on them regularly. Preparing for the end of the year lends itself as a great opportunity to do just that and you should really start thinking about this process come September.
WHAT IS AN SBIR GRANT?
The Small Business Innovation Research (SBIR) program, sometimes also referred to as America’s Seed Fund, was put into place to provide funding for technology commercialization in the United States. SBIR grants assist companies in the United States with funding for federal research and development for products that have a good chance of being commercialized. SBIR grants are funded by the government and operate under a unique structure. The purpose behind SBIR funding is to help companies fund their research and development costs.