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Grant to support small business efforts

Grant to support small business efforts

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CEDAR FALLS -- The University of Northern Iowa’s Center for Business Growth and Innovation (CBGI) has been selected for grant funding through the Ewing Marion Kauffman Foundation’s 2020 Heartland Challenge. The grant is intended to support the planning and implementation of business transition programming to address the challenges faced by small businesses in the states of Missouri, Iowa, Nebraska and Kansas.

CBGI plans to use the grant to launch the Iowa Business Transition Center, which will be an expanded element of CBGI’s proven succession planning work for small businesses where, since 2016, over 90 Iowa companies have successfully transitioned ownership of their business.

CBGI’s Iowa Business Transition Center will work with current business owners, their next generation of family, key employees and third party buyers in developing detailed succession road maps for their firms across rural Iowa. CBGI aims to help current ownership determine which option works best for their company, including a business cooperative, an employee stock ownership plan (ESOP), selling to key employees, transitioning to their relative or finding a strategic buyer.

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