Do you know your sales volume? Is your product line making a profit? Are you positioned to receive a return on investment in your business?
Expertise to Help With Your Financials
Understanding your business financials is one of the keys to running a profitable business.
As a business owner, you are the chief, and hence, the buck stops — and starts — with you. Understanding your sales numbers, working to create efficiency to improve your margins, and keeping a healthy cash flow can be the difference between a hiring sign and a for-lease sign in your business window.
SBDC has a team of financial Business Advisors who will help you get a clear insight about your business finances, so you’ll have a realistic, birds-eye-view of your business’s expenses and income — all of which will help drive key decisions about hiring, marketing, product research, etc.
Our expert advisors can assist you in enhancing your business performance and growth by evaluating new technologies, reviewing inventory management processes, and your costs.
Keeping proper records and understanding financial reports are vital for understanding the financial state of your business. We can help you with reviewing your:
- Startup Costs
- Breakeven Point
- Sales and Gross Margin
- Cost of Goods Sold
- Cash Flow
Financial Strategy Development
If you’re a startup or an existing company looking to grow, our advisors can assist you. Whether it’s increasing your margins or revenue, improving cash flow or beyond, we will guide you in planning and executing a strategy to make financial improvements in your business.
Finance Process Development and Improvement
Our expert Business Advisors can help you examine your business’ accounts receivables and payables, enhance budgeting practices, and suggest practices that are best for financial reporting.
Working capital is the fuel that powers small businesses. Understanding how to maximize cash flow will equip your business to maintain and grow your operation. Even in the age of digital currency, cash is still king. Having cash flow in your business will protect your business from unexpected financial turbulence – like a pandemic. We’ll help you develop a cash flow plan that optimizes cash coming into your business and minimizes unnecessary expenses.
Managing & Establishing Credit
A lender sees your credit as your financial reputation — if you don’t have credit, it’s working against you. Building business credit plays a crucial role in your company’s funding ability. Whether you operate as a limited liability company or corporation, your business has the ability to establish a credit file separate from you as an individual. We’ll help you repair poor credit, establish credit with vendors to increase lines of credit, and monitor your credit reports into the future.