Photo by Heather Middleton
By Mehgaan Jones
Clayton State University's Small Business Development Center (SBDC) is hosting a "Money Management Series," which will help small business owners with the fundamentals of maintaining positive money practices, and strengthening their operations.
"We wanted to provide a well-rounded money management series for small business owners," said Alisa Kirk, a consultant with the CSU Small Business Development Center.
"The series has been split into four separate workshops," added CSU Spokesman John Shiffert. "Each workshop will cover topics ranging from, 'Understanding Your Financial Statements' to 'Financial Planning for Business Owners.'"
He said the program will run every Monday, from March 7, through March 28, from 1 p.m., until 4 p.m. Shiffert said the individual workshops are $69, and the cost for all of them is $299.
The series will be held at the Clayton State-Fayette instructional site, which is located at 1200 Commerce Drive, in Peachtree City. The series kicks off with "Understanding Your Financial Statements," on March 7, said Shiffert.
"While it's not necessary for you to know accounting, in order to succeed, having a basic knowledge of how to properly read your financial statement will help you catch mistakes before they hurt your business, make adjustments in order to cover future plans, and avoid losing money to fraud," he said.
"The first series is especially important ... because we are around tax season," said Alisa Kirk.
"Managing Your Cash Flow" will continue the series on Monday, March 14, Shiffert said. Participants will learn how to project cash flow and anticipate shortfalls, he said.
"You'll see ways to increase cash flow through cost-control, inventory management and adjustment of receivable/payable policies," he added. "We'll also discuss managing collection of accounts, so that you can get your money faster."
In the third workshop, "Financial Planning for Business Owners," participants will learn how to formulate a plan for estimating their financial needs and also managing their personal cash flow, according to Shiffert. This part of the series will take place on Monday, March 21.
On the following Monday, March 28, "Your Financial Health Check" will teach participants how to figure, and use, basic ratios to assess the overall health of their companies, and formulate a plan to analyze these ratios on an ongoing basis.
Alisa Kirk said interested parties can choose to participate in an individual workshop, or attend the entire series. "The series is actually new to us," said Kirk. She added that anyone can attend, but it is geared toward small business owners.
For more information on the SBDC, and to register for the Money Management Series, visit, www.georgiasbdc.org. Interested parties can also call (678) 466-5100, or e-mail firstname.lastname@example.org.
According to SBDC officials, the deadline to register for the series is Sunday, March 6.