All Small Mentor-Protégé Program: Who Qualifies and What You Get
Learn how small businesses can partner with experienced firms through joint ventures to gain business development support and growth opportunities.
This program allows small businesses to partner with more experienced firms to help the smaller company grow and succeed.
Who it's for
This program is designed for small businesses that form official partnerships with larger, more experienced firms.
What you get
By participating, the two businesses can form a joint venture, which is a formal agreement to work together on specific projects. You also receive various types of business development support to help the smaller firm expand its capabilities.
What it costs you
There is no direct fee mentioned, but you will need to invest time and resources into creating a formal agreement and meeting ongoing reporting requirements to stay compliant.
The catch to know
The most important rule to remember is that the protégé (the smaller business) must maintain control of the joint venture to ensure the partnership meets program standards.
How to apply
- Find an experienced firm willing to act as a mentor.
- Draft a formal agreement outlining the partnership.
- Submit your documentation through the official channels.
- Visit the official portal for more details: https://www.sba.gov