Our federal government seems to be focused more on infighting than implementing the additional COVID-19 relief that so many individuals and businesses rely on. But hope is not lost—there are resources to consider for the critical funding your small business needs.
From loans and grants to help with managing cashflow, the experts at Sidekick Accounting compiled links and tips you can explore to keep your operation running during these continually challenging times.
Explore the Small Business Development Center (SBDC).
The Small Business Development Center (SBDC) is the most comprehensive small business network that serves the U.S. and its territories. With nearly 1,000 centers nationwide, SBDC provides businesses with free consulting and at-cost training on many topics. Statewide, businesses can rely on the Wisconsin SBDC network for the latest local resources and information to help small businesses navigate through this ever-changing COVID-19 landscape.
Apply for small business funding through We’re All In grants.
In addition to SBDC, the Wisconsin Economic Development Corporation (WEDC) is another valuable resource, especially for funding through its We’re All In grant program. We’re All In provides much-needed financial assistance to thousands of Wisconsin small businesses affected by COVID-19. In fact, WEDC recently opened up a Phase 2 of We’re All In Small Business Grants.
This second phase awards grants of $5,000 based on a business’s annual revenue. Businesses with more than $0 but less than $1 million in annual revenues (gross receipts less returns and allowances) and one to 50 full-time equivalent employees (FTEs) in 2019 are eligible to apply. Priority will be given to applicants that did not receive funding from the Phase 1 of the We’re All In Small Business Grant Program. Review the FAQs about this grant program, then complete a We’re All In Phase 2 application if you’re eligible.
Manage your cashflow more effectively.
As you know, cashflow is critical to running your small business successfully. From managing inventory to spreading out expenses, there are many ways you can manage cashflow to survive and even thrive during this difficult time. In addition to cashflow tips in our previous post, here are some other ways to manage cashflow more effectively:
Need more help securing funds for your small business? Contact Sidekick Accounting.
If you’re a small business owner in Wisconsin or another state, don’t let these challenging times get the best of you. From offering guidance to help you secure funding to developing a comprehensive accounting plan for your business, the Sidekick Team is a trusted resource for solutions and results that help keep you financially healthy. Contact us at your convenience to schedule a complimentary consultation.
Sidekick Accounting Services is an accounting company dedicated to serving other small businesses and individuals. Helping them grow and strive to their fullest potential. With Sidekick Accounting you get a whole lot more than just accounting help, you get the tools needed to continue to be successful! We are Accounting Fit for You!!