WEST PLAINS, Mo. – The Small Business and Technology Development Center (SBTDC), hosted by Missouri State University-West Plains, will host a three-part financial management series in March for business owners, managers, accountants, bankers and consultants, organizers said.
The first session, “Understanding Your Financial Statements,” is set for March 15 and will teach those attending the fundamentals of how to turn financial statements into useful management tools, as well as how to make better decisions based on good financial information.
The second, “Analyzing and Managing Your Cash Flow,” will take place March 22 and teach attendees the fundamentals of cash flow, where case comes from in a small business, where it’s used in day-to-day operations and how to identify and correct cash flow problems. Those attending will learn practical applications of how to follow cash flow as it travels through the company and create cash flow strategies. They also will become familiar with sources and use of cash, cash flow ratios and common “gobblers” of cash in the business.
The final session, “Predicting Your Company’s Cash Needs” on March 29, will cover the fundamentals of how to create and use a cash budget to prepare for future business performance. Those attending will learn to estimate future sources and uses of cash and how to analyze their predictions to make more informed decisions.
Participants should leave the March 29 session feeling more comfortable about decisions related to business growth, realistic loan and financing requests, how much cash they can safely take out of the business, and how to make affordable purchases for their business, organizers said. By the end of the session, they should be able to forecast sales, receivables and expenses and use a cash budget to create a month-by-month view and calculate “break even” as it relates to business expansion, workforce additions or capital expenditures, organizers said.
All sessions will be held from 1 to 4 p.m. at the West Plains Civic Center, 110 St. Louis St., in West Plains. Those interested can sign up for all three sessions at a cost of $285 per person, or an individual session for $99 per person. To register, visit http://sbtdc.eventbrite.com.
The SBTDC provides assistance to individuals who want to start or run their own small businesses. SBTDC staff work with Missouri entrepreneurs and small businesses that are for-profit (not a non-profit charitable or educational organization). Whether you are currently in business or thinking about starting a business, the SBTDC can assist you in your venture.
The West Plains SBTDC serves entrepreneurs in seven counties across the region: Douglas, Howell, Oregon, Ozark, Shannon, Texas and Wright. Since they are funded in part through the Small Business Administration, virtually all of their services are free.