When your business is ready to grow, securing additional capital is often the next step. This section guides you on how to enhance your financial credibility and attract the right type of funding for your strategic goals.

Prepare a Clear Business Case

Start by clearly stating how much funding you need and why. Whether it's for seasonal expenses, new equipment, launching a product, or expanding operations, your case should explain how the investment will support growth and generate returns.

Update Your Business Plan

Your business plan should reflect your current stage, updated financials, and future projections. It reinforces your credibility and shows lenders or investors that you’re prepared to use funds wisely.

Prepare Financial Statements

Use documented records of revenue, expenses, and profit to illustrate your business’s financial health. If you're not yet profitable, explain how additional funding will enable you to improve your performance.

Check Your Business Credit

Review your business credit report to ensure accuracy and strengthen your financial profile. A clean credit record reassures lenders and increases your chances of securing favorable terms.

✅ Quick Tip:

Before applying for new funding, polish your financial documents and business case. A clear, well-prepared package boosts confidence among lenders or investors and can turn your growth plans into reality.

Expanding your business to a new location is a strategic move that requires careful preparation. It can unlock growth, reach new customers, and strengthen your brand—when executed thoughtfully.

Update Your Marketing Plan

Tailor your strategy for the new market. Consider factors like target audience, competitive landscape, messaging, promotional costs, and positioning to ensure your expansion resonates locally.

Confirm Financial Readiness

Build an updated forecast that includes projected costs and revenue for the new location. Use your balance sheet to verify you can cover expansion expenses comfortably.

Follow Legal & Compliance Steps

Treat new locations like new businesses: register where required, secure local permits, and understand licensing rules and zoning laws—especially when moving into a new state or jurisdiction.

File for Foreign Qualification (If Needed)

If you're expanding into another state, you may need to register your business there formally (known as foreign qualification) and pay applicable fees to operate legally.

Plan for Taxes in Multiple Areas

Expect to pay taxes and file annual reports in both your original state and any new location. Rules vary—so double-check your obligations for each jurisdiction.

✅ Quick Tip:

Begin with a side-by-side comparison of potential locations—evaluate marketing needs, financial impact, legal requirements, and tax considerations. This direct comparison helps you choose the most viable expansion opportunity.

Merging with or purchasing another business can jumpstart your growth—but it demands careful planning and safeguard measures to protect your current operations and reputation.

Know the Difference

A merger combines two businesses into a new entity—rare and complex. In contrast, an acquisition involves one company fully absorbing another, which is more common and allows your business to take over existing assets and operations.

Perform a Thorough Valuation

Before proceeding, determine the target business’s value. Hire a qualified appraiser if needed. A careful valuation helps you understand whether you can afford the acquisition or need adjusted financing.

Draft a Comprehensive Agreement

Work with an attorney to create a clear agreement that addresses inventory, liabilities, financial access, and fee arrangements. Leaving out critical details can lead to serious complications after the transaction.

Transfer Ownership Legally

Follow all legal requirements to transfer ownership—this may include dissolving your original entity, registering the change with state authorities, opening new accounts, or reapplying for tax IDs, licenses, and permits.

✅ Quick Tip:

Before you finalize any deal, have a trusted business lawyer review the agreement and verify that all assets and liabilities are clearly listed. This simple step protects you from hidden surprises.

The federal government is the world’s largest buyer — and certain contracts are set aside to level the playing field for small businesses. If you're ready to consider these opportunities, here's how to get started.

Understand Your Role

You can work with the federal government as a prime contractor (winning contracts directly) or as a subcontractor, joining established teams with specific capabilities.

Meet Eligibility Criteria

To pursue federal contracts, your business must be legally structured and recognized as a small business. You’ll need to register as a government contractor to access opportunities.

Follow Government Rules

Federal contracting operates under strict procurement standards. Your business must:

• Meet industry-specific size requirements

• Comply with regulations like domestic sourcing laws

• Respect rules on subcontracting, documentation, and performance standards

Explore SBA Programs

Special programs support small businesses in contracting opportunities — such as those for women-owned, veteran-owned, disadvantaged, or underserved businesses.

✅ Quick Tip:

Begin by registering your business properly and meeting eligibility standards. Then, explore SBA contracting programs relevant to your structure or market — this is a strategic way to unlock new opportunities in federal procurement.

Selling your products internationally can open new revenue streams, reduce reliance on seasonal local markets, and strengthen your business resilience. With the right support, even small businesses can succeed globally.

Evaluate Export Benefits

Most global purchasing power exists outside the U.S. Exporting gives your business access to a broader customer base and creates opportunities for long-term growth.

Prepare with the Right Tools

Successful exporting requires research and compliance. Tools like export readiness assessments, trade databases, and financial planning templates can help you identify markets, understand regulations, and plan your strategy.

Use Local Export Support

You don’t have to go it alone. Regional business advisors can help you build an export plan, identify international markets, connect with distributors, and navigate shipping, customs, and pricing strategies.

✅ Quick Tip:

Start with one product in one international market. Use available business counseling to explore demand, clarify logistics, and build confidence before expanding further.

Empowering women entrepreneurs expands opportunities, drives innovation, and builds stronger communities. Here’s how SBA supports women-owned businesses through specialized programs and resources.

Office of Women’s Business Ownership

This initiative offers coaching, training, federal contracting support, and access to capital specifically tailored to women entrepreneurs.

Women’s Business Centers

WBCs are local hubs that provide hands-on tools, counseling, and resources designed to help women start and scale successful businesses.

Federal Contract Opportunities

Women business owners can access contracts through SBA programs designed to increase their participation in federal procurement.

✅ Quick Tip:

Reach out to your local Women’s Business Center for one-on-one support—whether you're getting started, seeking funding, or looking to expand. Their help can be a game-changer.

Native American entrepreneurs bring rich cultural heritage and resilience to the U.S. economy. SBA offers tailored resources to support their growth and success.

Tribal Business Development

SBA collaborates with Tribal governments to provide assistance programs that strengthen business infrastructure and capacity in Native communities.

Training & Counseling

Dedicated support services—including training, mentorship, and business planning—are available through SBA partners and Tribal business centers.

Access to Capital

SBA offers loan and funding opportunities specifically designed to address the unique challenges faced by Native American-owned businesses, including equity in underserved areas.

Government Contract Assistance

Native-owned businesses can access federal contracts through SBA’s outreach and certification programs, which help increase participation in procurement opportunities.

✅ Quick Tip:

Connect with your local SBA Tribal Business Center or advisor to explore funding and development programs tailored for Native American businesses. These connections can open powerful pathways for growth.

Veterans bring leadership, resilience, and teamwork to the entrepreneurial world. SBA offers specialized resources tailored to help veteran business owners thrive.

Veteran Business Resources

SBA provides mentoring, training, and networking through programs designed specifically to meet veterans’ business development needs.

Access to Funding & Loans

Special financing opportunities are available to help veterans launch, expand, or enhance their businesses—often with advantageous terms.

Federal Contracting Benefits

Veteran-Owned Small Businesses (VOSBs) and Service-Disabled Veteran-Owned Small Businesses (SDVOSBs) benefit from contracting programs meant to boost their participation in federal procurement.

✅ Quick Tip:

Reach out to your local SBA Veteran Business Outreach Center to explore mentorship, training, and contract options tailored for veterans. Their support can significantly boost your growth journey.

Military spouses often manage their households while navigating frequent relocations and career transitions—adding entrepreneurship can offer both financial independence and personal fulfillment. SBA provides flexible resources to help partners of military members launch and grow businesses successfully.

Specialized Training Programs

From beginner to advanced levels, SBA offers tailored business training for military spouses—available both online and in local communities—to fit diverse schedules and locations.

Access to Capital

Military spouses are eligible for SBA-backed loans under the same terms as other business owners. This includes a variety of small business financing options suited to different needs.

Contracting Opportunities

Qualified military spouse-owned businesses can explore government contracting opportunities designed to increase participation in federal procurement.

One-on-One Counseling

SBA delivers personalized business advising nationwide through partners like veterans centers, SBDCs (Small Business Development Centers), SCORE mentors, and Women's Business Centers.

✅ Quick Tip:

Reach out to your local SBA counselor or resource partner—such as a Small Business Development Center or Women’s Business Center—to explore specialized training, mentoring, or financing options tailored for military spouses.

Rural small businesses play a vital role in fueling local economies—running most establishments and employing more than half of workers in rural areas. SBA offers tailored resources to help rural entrepreneurs thrive.

Specialized Financial Tools

Rural businesses can access working capital and funds (ranging from hundreds to tens of thousands of dollars) to purchase supplies, equipment, or fixtures. These funds are often facilitated through microlenders with personalized local support.

Targeted Loans and Discounts

The SBA offers programs designed to enhance rural development—such as pilot loan initiatives that waive certain requirements for rural areas and partnerships with lenders in underserved regions. These tools help expand capital access where it's most needed.

Local Business Counseling

Free or low-cost counseling and training are available through local microlenders, development centers, and SBA district offices—offering hands-on help tailored to rural operations, from startup challenges to long-term planning.

Rural Advocacy and Research

Dedicated SBA offices focus on understanding and addressing the challenges rural businesses face, such as regulatory hurdles. They're also closely coordinated with programs supporting rural export development, innovation, and business expansion.

✅ Quick Tip:

Reach out to your local microlender or SBA district office to connect with rural-focused loan programs and counseling services. Their expertise can help you secure capital and guidance tailored to your community’s unique needs.

Minority entrepreneurs play a key role in innovation and economic growth. SBA offers specialized programs and resources to help minority-owned businesses start, grow, and succeed.

Dedicated Training & Counseling

SBA partners provide tailored business guidance, mentoring, and training—designed to address the unique needs and challenges faced by minority entrepreneurs.

Accessible Capital Options

You can access SBA-backed loans that offer funding support with favorable terms. These are structured to empower minority business owners and help them secure capital on fair terms.

Federal Contract Opportunities

Minority-owned businesses often qualify for participation in federal contracting programs aimed at advancing equitable access to procurement opportunities.

✅ Quick Tip:

Connect with a local SBA resource partner—like an SBDC or Women’s Business Center—to explore programs and funding specifically designed for minority-owned businesses. Their expertise can open valuable doors to growth.