Learn. Do. Apply. Comply. Succeed!

 

Expertise & Experience You Can Rely On!

 

Compliance from Day One to Commercial Success!

The SBIR and STTR programs come with strings, compliance. Your business must be able to demonstrate its capability to meet requirements for managing and reporting your expenditures and deliverables. Every aspect of how you do business changes when you accept government funding. We teach you how to do business under SBIR and STTR regulations and guidelines.  Here are some of the areas of focus:

  • Project and cost accounting.
  • Documentation
  • Direct cost tracking.
  • Indirect rate development and tracking.
  • Technical and financial reports.
  • Audit.

We ensure that you understand your business’s compliance requirements starting with the SBIR regulations and guidelines, so you can focus on innovation.

ARTICLES

Accounting

Accounting System Requirements for SBIR and STTR Companies

The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs offer funding to small businesses working on cutting-edge research and development (R&D). These federal programs help entrepreneurs bring new technologies to life, particularly in defense,...

The “Costs” of SBIR and STTR Funds: A Comprehensive Overview

The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs provide invaluable funding for small businesses engaged in research and development (R&D). These programs drive innovation by offering critical financial support, particularly for early-stage...

Correct Invoicing for SBIR/STTR: Actual vs. Proposed Costs

Small businesses must ensure correct invoicing and labor cost reporting when navigating the SBIR program. The federal government provides grants and contracts to support R&D. Invoicing these costs can be confusing, especially for direct labor. Direct labor costs are wages for employees working...

Government-funded Assets: How to Manage

government-funded assets and tools

SBIR and STTR Accounting System Requirements: Ensure Compliance and Financial Integrity

Navigating the complexities of federal funding requires a solid foundation in accounting practices—especially regarding SBIR (Small Business Innovation Research) and STTR (Small Business Technology Transfer) awards. A well-organized accounting system is crucial for small businesses to track...

Accounting System Requirements for SBIR and STTR Recipients

Small businesses, particularly those involved in research and development (R&D), face unique challenges in securing and managing federal funding. The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs provide vital financial support. Still, the...

Audits

Audits: How SBIR and STTR Recipients Achieve Compliance

Audits of SBIR and STTR recipients require careful compliance with audit requirements. By maintaining organized financial records, meeting reporting deadlines, and being prepared for various audits, you can ensure that your project continues to thrive without unnecessary complications.

Budgets

SBIR and STTR Budget Proposals: Tips To Ensure Compliance

Securing funding through programs such as Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) is a significant accomplishment for small businesses navigating the complexities of innovation. These programs provide critical resources to develop technologies that...

Costs

The “Costs” of SBIR and STTR Funds: A Comprehensive Overview

The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs provide invaluable funding for small businesses engaged in research and development (R&D). These programs drive innovation by offering critical financial support, particularly for early-stage...

Legal, Regulatory, and Compliance

Compliance Requirements Basics for SBIR and STTR Recipients

SBIR and STTR Recipients are required to comply with various federal regulations and policies. Below is a list of common compliance requirements for SBIR and STTR recipients: Eligibility Requirements Small Business Status: The applicant must be a small business as defined by the SBA (generally...

Accounting System Requirements for SBIR and STTR Companies

The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs offer funding to small businesses working on cutting-edge research and development (R&D). These federal programs help entrepreneurs bring new technologies to life, particularly in defense,...

The “Costs” of SBIR and STTR Funds: A Comprehensive Overview

The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs provide invaluable funding for small businesses engaged in research and development (R&D). These programs drive innovation by offering critical financial support, particularly for early-stage...

Correct Invoicing for SBIR/STTR: Actual vs. Proposed Costs

Small businesses must ensure correct invoicing and labor cost reporting when navigating the SBIR program. The federal government provides grants and contracts to support R&D. Invoicing these costs can be confusing, especially for direct labor. Direct labor costs are wages for employees working...

Government-funded Assets: How to Manage

government-funded assets and tools

Contingent Fees and SBIR/STTR Grant Funds: A Word of Caution

Securing a grant through the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs is a significant milestone for any small business. These programs provide essential funding to support research and development (R&D) in high-tech fields, enabling...

The Dangers of False Claims in SBIR and STTR Proposals

from FThe Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs provide crucial financial support to innovators and entrepreneurs working to develop groundbreaking technologies. While the opportunity to secure federal funding is significant, it can also...

Proposals

Correct Invoicing for SBIR/STTR: Actual vs. Proposed Costs

Small businesses must ensure correct invoicing and labor cost reporting when navigating the SBIR program. The federal government provides grants and contracts to support R&D. Invoicing these costs can be confusing, especially for direct labor. Direct labor costs are wages for employees working...

Contingent Fees and SBIR/STTR Grant Funds: A Word of Caution

Securing a grant through the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs is a significant milestone for any small business. These programs provide essential funding to support research and development (R&D) in high-tech fields, enabling...

Proposal: A Guide to SBIR and STTR First-Timers

Submitting your first SBIR (Small Business Innovation Research) or STTR (Small Business Technology Transfer) proposal can feel daunting. These highly competitive federal programs offer small businesses the chance to develop innovative technologies with funding from the U.S. government. However, a...

What our clients are saying!

“I was introduced to Lea while working on a Federal grant proposal. Thank God! She is wonderful to work with because of her unique ability to translate dry, complex budget prep/accounting “must do’s” into easy to understand concepts. Just yesterday I was a participant in one of her workshops – it was down to earth, interactive, and interesting. Lea’s focus is altruistic. She’s willing to roll up her sleeves with you, answer and work on your firm-specific questions and solutions – giving you real action steps to take home and apply. I’d recommend her to anyone needing help with bookkeeping and accounting, especially if you’re entering the Federal grant/contract arena. “

Joanna Nestor, Director of the Division of Policy, Oversight and Evaluation (DPOE), USHHS; Office of Grants

Lea’s expertise helped make sure that the “free money” from SBIR funding truly came without too much costs in terms of time, effort, and compliance.  There is no substitute for the experience of a world expert like Lea & we strongly recommend her. “Lea Strickland brought the knowledge and experience we specifically needed for developing our Commercialization Plan for our Phase II SBIR proposal. This included expertise in the SBIR program, government accounting regulations, and in-depth knowledge of finance (budgets, costs, and indirect rates) and commericialization.”

Peyton Anderson, CEO, Affinergy, Inc.

“As a small and responsive high-tech company, Mi-Co’s strategy is to take advantage of government grants and contracts in order to fund R&D initiatives that will keep our technology in the forefront of the industry.  Our success in winning government funding lead us to FOCUS Resources to get a handle on the regulations our business must meet as part of the process of doing business with the US government.  Lea provided concrete, clear, and achievable guidance and advice on a wide range of specific issues such as policies, accounting procedures, and subcontracts.  I feel confident that we now have the procedures in place to meet current requirements, but also have a plan to analyze costs and to increase the profitability of our work with all of our government customers.”

Carolee Nail, VP, Mi-Co, Inc.

“My company has been a client of Lea’s for just over 20 years now. The breadth and depth of her expertise and experience is remarkable. From advising about SBIR/STTR and other types of Federal contracting to reworking our accounting system for easy and fast government contract accounting to finding the right level of and personnel for our accounting needs to set us up with draft policies & procedures, and keeping us on track so to be ready for DoD contract pre-audits and post audits; to advising on operations and enterprise software; to overseeing project financial management and tracking. Her advice has saved us time and money and helped us avoid common accounting, financial, and legal mistakes. I firmly believe that 15 minutes of her time is worth more than an hour by other, even reputable, service providers in her field. I highly recommend Lea, without reservation. I fully trust her with the “keys to the car,” not just because of her honesty and integrity, but because she will refuse to drive when she doesn’t know the road.”

Larry C. Dickinson, PhD, President/Founder, 3F, LLC

“Lea is a great creative and strategic thinker and doer on business issues. I have used Lea as a resource on government contracting and other issues and always find her  knowledgeable, helpful, and well-networked. Through her writings and workshops, Lea has made valuable resources available … her clients are lucky to have her on their side. Lea is a great creative and strategic thinker and doer on business issues. I have used Lea as a resource on government contracting and other issues and always find her to be knowledgeable, helpful, and well-networked. Through her writings and workshops, Lea has made valuable resources available … her clients are lucky to have her on their side.”

David Bass. Screenwriter/Producer/Creative Entrepreneur

“Smart business people don’t just come up with ideas-they fill needs. Lea Strickland is one of those people who approaches everything she does to fill real, pressing needs for her clients. With a background ranging from accounting and financial guidance to a track record of spurring excellence in operations, customer service, marketing, and sales. Lea is the ultimate go-to resource for entrepreneurs who have incredible products and services but need that little something (or a lot) extra to make their businesses succeed in a fast-paced, ever-changing marketplace. “

James Forrest, General Counsel, board Member, Michael Best (law firm)

“Lea has worked with us closely on conceiving and planning marketing initiatives.  We are very impressed and delighted with Lea’s work.  She has been a continual font of ideas and knowledge.

She brought us ideas on customizing seminars and materials, how to reach the right audience, and how to use social media.

Lea generates the ideas, forms them into actionable plans, and helps us implement them.  She is with us every step of the way.

Having attended many seminars and webcasts on building our business, Lea was a complete breath of fresh air.  Her ideas and thoughts were entirely new from anything we’d heard before, and she knew how to implement them.

Lea also has an extensive contact list of people and resources she brings to bear when implementing our plans and getting us the needed resources.”

S. Welch, CHIA

“Lea Strickland brought the knowledge and experience we specifically needed for developing our Commercialization Plan for our Phase II SBIR proposal. This included expertise in the SBIR program, government accounting regulations, and in-depth knowledge of finance (budgets, costs, and indirect rates) and commericialization.”

Justin Samson, President, Castle Technologies, Inc.