The impact of the economic slowdown has been casting its shadow intensely on small business owners. However this seems to be the time where they might be able to see whats called ‘ a ray of hope’. While the good news is that the government is taking the best of its efforts to release the funds meant for small businesses, it is not possible for every small business owner to be benefited by it. You could even compare it with ‘Survival of the Fittest’. This is because you will have to answer few questions to know if you really qualify to receive the money set aside for small business. Even if you do qualify , remember that its not going to be without a stiff competition that you would receive the fund.
Do you belong to the targeted industry?
The stimulus money is not being allotted to small businesses of all nature. Priority is being given to businesses that is directly linked with health care, housing, energy&transportation, infrastructure&water, education and finally IT. It is important to carefully read the regulations related to industry specific allotment of stimulus funds.
