Small Business Grants....

Or as I like to call them unicorns. Small business grants have always been a hot topic, especially now. As stimulus money is being distributed, we wonder, what about me? Then guess what? We see these friendly folks on tv (usually on late at night) telling us about all of this "free" money being made available to you! You want it, right? Well of course you do! After all it's really your money to begin with. All you have to do, is send them $30-$300 to get the ball rolling. Oh by the way, do not ever, ever, ever, ever, ever give someone money up-front for something that is supposed to be FREE.



In reality getting a small business grant to start or expand your business isn't very likely. This is why I make the comparison to unicorns. See, if we had to draw a picture of a unicorn, most of us could do it. If you thought long and hard about it, I'll bet you could even think of a friend (albeit a childhood friend) that claims to have once seen a unicorn. But when it gets right down to it, you have never actually come face-to-face with a unicorn. The same goes with a small business grant. Sure they may be out there somewhere, but the only ones that I have come across are for non-profits, educational institutions, government projects, and even for workforce development training, but not to start or expand a small business. That doesn't mean they don't exist, but trying to locate one might be as worthwhile as trying to find a horse with a horn sticking out of his head.


You may be better served to learn more about the updated SBA lending programs that are part of the 2009 Recovery Act, http://sba.gov/recovery/index.html, or sit down with your local TSBDC counselor, SCORE counselor, CPA, banker, or anyone else that can review your financials and help you find the light at the end of the tunnel.

The TSBDC offers free and confidential one-on-one counseling for existing and start up small businesses. To register for go to www.tsbdc.org.Other contact information - Phone (615) 230-4780 www.volstate.edu/tsbdcThe Tennessee Small Business Development Center Network is funded by the U.S. Small Business Administration and local community donors.

Do your own cash flow projection

One of the recurring issues that I see from clients is the “I seem to be making money, but don’t have any money” scenario. This is not uncommon. One of the biggest issues small businesses face is managing their cash flow. To many entrepreneurs, it is also one of the more intimidating aspects of a business. Cash flow is different than just looking at a profit and loss statement. Cash flow statements show money coming in the business and money going out of the business, in real time. The best way to find out where your money is going is to put together a cash flow projection.
Below is a link to our Business Tools. One of the tools is a financial worksheet that you can use to create a cash flow projection. Simply fill out the yellow fields in the “income statement” tab and it will auto calculate the cash flow projection. If you need any help in doing this, give me a call or email.
http://www.volstate.edu/tsbdc/tools.html

The TSBDC offers free and confidential one-on-one counseling for existing and start up small businesses. To register for go to www.tsbdc.org.Other contact information - Phone (615) 230-4780 www.volstate.edu/tsbdcThe Tennessee Small Business Development Center Network is funded by the U.S. Small Business Administration and local community donors.