Are there grants for my business?
For the most part, no. Any grant program in existence will be specifically earmarked for a certain purpose. For instance, many of the grants from a government entity are targeted to help businesses that are hiring more employees. The Internet or the public library can be utilized to search for grant programs, but most businesses should expect to finance their business through more traditional financing programs. It is our experience that most small businesses are financed through more programs which require some capital contribution from the owner. Before searching for financing, a business plan should be completed. Ask your North Central Kansas Small Business Development Center (NCK SBDC) counselor for guidance and more information on financing.

What is a business plan?
A business plan is a written document which addresses what you want to do and how you will do it. It helps a person focus on relevant issues that are common in business. A business plan describes your product or service, the market, how you will reach your market, your management skills, the management team, employees needed now and in the future, the location of the business, risk management, financial projections, etc. The business plan is the tool to use for determining if a business venture is truly feasible for you. It also serves as a proposal for financing and/or the investment of outside parties, and it serves as your guide once you open the business. A sample business plan outline is available on this website. The North Central Kansas Small Business Development Center (NCK SBDC) will be glad to help you through the business planning process.

What is a cash flow projection?
A cash flow projection is a spreadsheet that is designed to show how well a company is managing its cash on a monthly basis. Cash Flow Projections are an integral part of your business plan. These figures allow you to accurately assess the feasibility of your business and the investment required to achieve a stable level of operation. Your assumptions must be carefully thought-out and explained. The North Central Kansas Small Business Development Center (NCK SBDC) can assist you in creating start up costs and a 3 year cash flow projection by month. Most lending institutions will require a cash flow projection and assumptions for financing.

Where can I get the money for my business?
There are several sources. After you have completed your business plan with financial projections and funding requirements, you can approach the funding process. Generally, if you will need to have at least 20% of the money to contribute and the rest can be obtained as long as your idea is well-developed and solid. Aside from the portion that the owner contributes, there are several other potential sources: bank financing, SBA-backed loans, loans from family and friends, individual investors, and city/county/regional revolving loans. The North Central Kansas Small Business Development Center (NCK SBDC) will be glad to discuss this with you further.