TAMIU SBDC Offers Workshop on
Managing Cash Flow Wisely Nov. 4
The Texas A&M International University Small Business Development Center (TAMIU-SBDC) will sponsor the workshop “Managing Cash: The Small Business Owner's Guide to Financial Control” on Tuesday, Nov. 4, 2008, from 5:30 to 7:30 p.m. at the TAMIU Western Hemispheric Trade Center room, 104. A $20 fee includes “Managing Cash: the Small Business Owner’s Guide to Financial Control Workbook.”
Cash flow is what comes into and goes out of a business. Gaining financial control by understanding cash flow is crucial to business success.
“Many people think their business is sound as long as more money is coming in than is going out. This way of thinking can weaken a business’ short-term stability and its long-term growth. A certain amount of cash must be on hand at all times for day-to-day operations and to pay expenses on time,” explained Richard Pérez, SBDC Director.
“Inevitably, a gap will occur when bills are due before the cash that’s owed the business is collected. In addition, unexpected expenses, like equipment repair, can really complicate operations,” he noted.
Pérez explained that without proper cash flow, even a thriving business can fail.
“Think of your business as a rope with three intertwined strings. One string is what you sell (your products and services). The other string is what you earn, and the third is what you spend. If one string weakens, it affects the strength of the rope,” Pérez said.
The workshop will offer advice on: Cash–The Fuel that Runs your Business; Maximize your Cash Flow; Tools for Speeding up Cash Collections; Overdue Invoices; Three Tools for Helping with Accounts Receivable; Cash Flow Statements; and Four Short Term Financing Solutions.
For more information or to register, call the TAMIU SBDC office at 956.326.2827, or e-mail: firstname.lastname@example.org.
Register online at sbdc.tamiu.edu
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