Professional services provided by business consultants, accountants, attorneys, industry experts, or other business mentors for the purpose of assisting individuals to determine whether or not to pursue self-employment, as well as develop and implement a viable business plan.
(Procedure code 60700-01)
Specialized instruction and guidance during start-up, or to stabilize an existing small business, in areas such as: financial forecasts, marketing, accounting, and goal setting to ensure both sustainability and profitability.
Payment Rate (Non-Supported Employment)
Up to $110.00 per hour
Maximum 20 hours a month
Maximum of four months
Payment Rate (Supported Self-Employment)
Up to $110.00 per hour
Maximum 40 hours a month
Maximum of six months
(Procedure code 60700-02)
A specialized assessment utilized to make a preliminary review of the viability of the proposed business idea and provide recommendations as to whether the business idea warrants developing a business plan.
Payment Rate
Up to $110.00 per hour
Maximum 15 hours total
Supported Self-Employment: maximum of 20 hours total
A Feasibility Assessment must contain the following elements.
Business Description
Preparedness of the individual to own and operate the business (preparation and research the individual has done, training completed, etc.)
Outcomes of initial research completed (provide sources of information, as applicable)
Critical success factors in comparable businesses
Level of activity that would need to occur for the business to bring in the equivalent of gross minimum wage for anticipated hours worked
Description of service or product
Overview of concept, background, and market within the industry
Operational Analysis
Qualifications/skills needed for success in field and/or business operations
Skill deficiencies and recommendations on how to address
Equipment/supplies needed
Licenses and/or permits needed and required insurance(s)
Facilities needed for business operations
Daily operation of business (e.g., hours of operation, who will complete tasks such as bookkeeping, marketing, sales, etc.)
Employees and/or managerial needs
Phase-in schedule of business elements (e.g., accounting, space, etc.)
Market Analysis
Target market: demographics, location, geography
Market demand and value for service/product
Test market, if appropriate
Competition: direct and indirect (include name, location, estimated annual revenues, market share performance/penetration)
Market share estimates
Requirements to succeed in industry or what makes competitors successful
Competitive advantage
Marketing plan: first six-month detail, including estimated costs
Financial Analysis
Minimum revenue needed to yield income that is comparable to the income received by other individuals in similar occupations or on similar tasks, with similar skills and experience, etc.
Start-up costs (first 3 months)
Recommended schedule for phases of purchase/attainment of required start-up items
Forecast of gross revenue
Cash flow needs
Projected profit/loss for first three years
Projected break-even amount
Identification of potential funding sources to assist with any needed start-up costs and on-going sustainability of small business
Accounting plan, including roles and responsibilities for operational use of plan
The vendor must provide a written report of the assessment that includes a summary of the required elements described in 11.2.2(a) and a recommendation of the feasibility of the business:
Business is viable and feasible – research and findings suggest the proposed business is feasible and recommend proceeding with business plan development. Provide overview of items supporting why feasible and any recommendations to support successful business development.
Areas of concern – research and findings suggest the proposed business may be feasible. Provide overview of items supporting decision, list items needing further consideration before business would be feasible, and recommendations to improve the feasibility of the business.
Business is not viable or feasible – research and findings suggest the proposed business is not feasible. Provide overview of items supporting decision, items needing further consideration, and recommendations.
(Procedure code 60700-03, 60700-04)
Business Plan Development services include assisting a DVR individual to develop and write a plan identifying sustainable business objectives and strategy.
Required components of the business plan include the following:
Executive Summary – a brief overview that highlights the business concept and the owner’s ability to run a successful business
Business Description – a thorough description of the business, including why the business is needed, the form of ownership, ownership interest, industry trends, and background experience of the business owner/manager
Marketing Plan – a complete description of the products and services offered, target market, business location, business name, existing competition, and advertising and promotion strategies
Operations Plan – a description of required inputs for business start-up including, capital equipment and facilities; operating costs; legal requirements such as licenses, permits, zoning, insurance, taxpayer number, and corporation status; production and management methods; employees; and purchased services.
Financial Plan – a description of the need for and sources of cash; list of equipment; income statement; break-even analysis; cash flow statement; and balance sheet, including start-up costs; and three years of financial forecasts.
Payment Rate
Up to $110.00 per hour
In addition to Feasibility Assessment, maximum of 10 hours
Without Feasibility Assessment, maximum of 20 hours
Supported Self-Employment
In addition to Feasibility Assessment, maximum of 15 hours
Without Feasibility Assessment, maximum of 30 hours
(Procedure code 60700-05)
Services assisting a DVR individual to develop and write a document setting the sustainable business objectives and marketing strategy.
Payment Rate
Up to $110.00 per hour
Maximum of 10 hours
(Procedure code 60700-06)
A comprehensive service involving web design, web content creation, search engine optimization, and network security configuration, among other necessary tasks to ensure an effective website.
Payment Rate: Up to $75.00 per hour
(Procedure code 60700-07)
Legal review and guidance related to needed legal services, including contract development, trademarks, and other aspects related to starting a small business.
Payment Rate: Up to $125.00 per hour
(Procedure code 60700-08; 60700-09)
Consultation and accounting or bookkeeping services to start-up a small business; may include instruction in QuickBooks or other accounting software and/or tax reporting.
Payment Rate
Certified Accountant: Up to $75.00 per hour
Bookkeeping, Accounting, or Auditing Clerk: Up to $40.00 per hour
(Procedure code 70503-04)
Fees related to the start-up and licensing of a small business with the Colorado Secretary of State or local city or county.
Payment Rate: Lowest available usual and customary rate charged to other individuals and entities.
(Procedure code 70503-03)
Fees related to membership with a civic entity, such as a Rotary Club. Fee may not be used to support any lobbying activities or membership to social clubs (2 CFR 200.454).
Payment Rate: Lowest available usual and customary rate charged to other individuals and entities.