The pandemic has affected all of us, globally. But if there’s one shining light through it all, it’s the creation of a new work life, and work life balance. Worldwide we’ve proven that we can do great work from anywhere. In particular, this industry has shown that light with the essential service provided via internet access. As a result, the number of internet users is expected to grow from 297 million in 2020 to 320 million by 2025 across the U.S. alone. The opportunities in our industry abound over the next several years. Is your business ready for such growth? If your answer is yes, there are several key items to put in place.
One very popular trend is the growing necessity for public/private partnerships. Some funding opportunities are available only through public entities. In the new legislative funding, public/private partnerships provide accountability. The private company is validated by the public entity that the work has been done and the private company confirms that the funds have been put to use. Establish your company as a local resource.
The world is excited to receive broadband, but our elected representatives do not always understand how to bring it to their communities. It was recommended at the TXISP Meetup hosted by WISPA to reach out to your regional council of government (COG) as a starting point. In Texas it is a COG, and there are similar agencies available in your area to work with if you are located somewhere else.
Elected officials want to win points with broadband support for their constituents.
- Explain fixed wireless to your government representatives and its benefits to your local community.
- Reach out to see if there is a problem you can solve for your community so you’re ready and well known when larger investments are funded and available.
Building relationships now will enable your company to be a partner in future infrastructure funding opportunities.
In addition to building relationships with your community, it’s also important to have someone review your financial records. To apply for funding opportunities, accounting records should be compiled in a way to show the true value of the network you’ve built, the revenue you bring in, and your retained earnings. Getting professional input can improve your processes and lend reliability. Knowing what you have invested in your company, the ability to show how you will pay the infrastructure funds back, and how the funds will be used will help you promote your company in applications and as you reach out to partners.
Funding programs are listed on a variety of websites that are searchable for your area and needs. Some of these must be applied for by a public entity. Others are applied for together. Here’s a sample of the funding opportunities available for broadband.
How does BillMax help in working toward these future opportunities?
- BillMax streamlines your business processes.
- BillMax supports GAAP accounting principles that make it easier to pass audits and show clearly your operating revenue.
- BillMax is automated and consistent. Multi-line taxing by product class and location is available.
- BillMax reporting is comprehensive and accurate.
- BillMax can be used to update either Quickbooks or NetSuite.
It is an exciting time to be part of the broadband industry. As we all work to close the digital divide, may we look around for partners that will make our goals a reality.
To have a discussion with a member of the BillMax team, contact firstname.lastname@example.org or call us at (817)446-7776.