The business place is challenging and while many businesses receive opportunities to flourish, most do not. One option to assist a business is to reach out to and find mentor to assist in the firm's growth and development. Proper choice of a mentor protege program, along with an agreement tailored to satisfy the needs and goals of each partner will ensure that the team is successful and fulfills its purpose.
New laws allow not only 8(a) Disadvantaged Businesses to enter into a mentor protege arrangement with a larger mentor but as of October 1, 2016, the M/P Program is open to all small businesses.
Major examples of advantages to this lucrative program include:
Increased funding (if mentor agrees)
Increased bonding
Marketing and management assistance
The ability to joint venture with a large business and be exempt from affiliation
Call us to discuss the various mentor protege programs available and which one might be best for you!
