Financial Basics for New Small Businesses

This workshop is designed to give you, the business owner, the financial skills and know-how needed to perform key tasks like to determine how to accurately compute the amount of funding you’ll need to start your business. You will also learn how to project your future financial results realistically including:

·      Projecting sales for a new business

·      Understanding your cost of goods sold and gross margin

·      Being able to project your operating expenses

·      Calculating your net income.

·      Planning your cash flow successfully.

This workshop includes a special section on creating financial statements for service businesses.

Proper management of finances is crucial to any business’s success and a special set of skills is needed to understand and create these critical financial statements. This workshop is suitable for everyone whether you are starting a new business or need to update your skills.

This is an interactive workshop. We encourage participation by all attendees — so bring along your questions!

Listen to what others who have attended this workshop have to say about the instructors and the program:

·      Really helped me understand the projection of fixed and variable costs and how to make a cash flow statement.

·      The workshop examples are easy to understand and the financial templates provided are immensely valuable.

·      Now I know what mistakes I’m am making in my business and how to fix them. 

·      I appreciated that they had financial examples for service-based businesses.

·      This workshop far exceeded my expectations on what I thought I would learn.

Presenter

This workshop is presented by SCORE Volunteer Suzanne Rouaix. Suzanne is the founding member of SDR Franchise Brokerage, LLC, and is an independent and certified franchise broker specializing in highly individualized franchise search and support services for aspiring franchise owners. She is an established consultant in all phases of small business operations. Suzanne received her MBA in entrepreneurship from Simmons University in Boston, and her BBA in finance from Loyola Marymount University in Los Angeles.

SCORE’s Small Business Essentials Workshops prepares individuals to make the right decisions and create actionable plans when starting a small business. Whether you are starting a business on your own (one-person business) or a business with employees, we have the right set of workshops to help you succeed. All the workshops are about three hours in length and taught by experienced SCORE Mentors. See more information on these workshops here.