0603 - Small Business Finance: Keys to Success
Course Description
According to a study by Intuit, 82% of businesses fail due to cash flow problems. This highlights the critical role of understanding your financial statement for managing your cash flow effectively, which is vital for sustaining business operations and growth. In this comprehensive workshop, we will dive into the fundamental aspects of finance tailored for business leaders. You will gain invaluable insights into interpreting and leveraging basic financial statements effectively. From deciphering balance sheets to understanding income statements and cash flow statements, this workshop equips you with the essential skills to make informed financial decisions crucial for business growth.
Additionally, you will learn practical techniques for maintaining accurate financial records through reconciliation, ensuring transparency and precision in your financial operations. Whether you're starting a new venture or seeking to strengthen your financial acumen, this workshop provides the essential knowledge to navigate and strategize based on sound financial principles.
Learner Outcomes
- Gain an understanding of basic financial statements (income statement, balance sheet, cash flow statement) and their importance in financial planning.
- Discover how to assess if your current financial situation supports your business growth plan.
- Acquire essential knowledge about record-keeping and basic reconciliation practices
Richard Brooks is a Business Consultant at the UGA SBDC at Georgia State University. Prior to joining the University of Georgia SBDC, Richard spent 20 years in the private sector as a consultant helping start-ups and growing businesses. He has also spent time as an adjunct faculty member in higher education, founder of a small business, CMO of a cyber-security company, Executive Director of a Chamber of Commerce, and Board Member of a non-profit organization. In addition, he has achieved an Honors Bachelor Degree in Environmental Engineering; and an MBA in Business Strategy and Marketing.