Evaluating a company’s financial health is an essential skill for all business owners. This Maximum Money Course covers the fundamentals of financial analysis. In once a week for five weeks, participants have the opportunity to develop a comprehensive 12 month financial forecast.
I have been a consultant with the UGA Small Business Development Center for almost 5 years, and I can’t tell you how many times I have heard this statement, or some variation of it. Unfortunately, a lot of these people do not have a good understanding of how to set up a business financially so […]
[vc_row][vc_column][vc_column_text]Pokemon GO is the new internet phenomenon that has taken the world by storm. While I was on vacation last week I downloaded the app to play with my 13-year-old daughter. I confess that I have never played a game on my smartphone before, so why now? I admit I was a little curious as […]
A favorite of mine is the story of The Grasshopper and The Ant. If you do not recall, the premise of the fable is that the Grasshopper is enjoying the summer day, hopping, chirping and singing away when the Ant passes by, working away, storing food. The Grasshopper asks the Ant why it is working so hard when everything is so easy, foods plentiful, and states that the Ant should be enjoying the sunshine. The Ant replies that he is planning for the winter, by continuing to work when everything was going well. Of course, winter comes and the Ant is well prepared while the Grasshopper is out in the cold, starving. The moral of the story is:
Whether it’s to start, operate, expand or acquire a business, capital is required. Just how much is available, and what it will cost depends on each business’s unique situation and the personal financial position of its ownership. These two factors are so important that they find their way into the starting lineup of every loan application. Borrowers who have a good understanding of […]
As an SBDC Business Consultant, I have the opportunity to work with a lot of business owners, and one of the things I have figured out is that NONE of them got into their businesses so that they could pay taxes. The restaurant owner wants to serve really great food. The car dealer is a car guy. But taxes are a fact of business life. So, it is a good idea to have a game plan to handle them in an efficient way so that you can focus on the real reason you got into business in the first place. Here are a few suggestions:
If you have a business that sells product or service internationally, or if you are considering selling your product or service to foreign buyers, you may want to consider using receivables insurance as a way to grow your business and mitigate risks commonly associated with international sales. If you are selling internationally, the least risky […]
I recently met with a client in the specialty food business. The company, in short time, gained product placement throughout the southeast in one of the largest grocers in the United States. However, her company is operating at a loss, and to make matters worse, her cash balance is dropping faster than her operating losses. […]