TAMIU SBDC Offers Workshop Series on
Managing Cash Flow Wisely March 5
The Texas A&M International University Small Business Development Center (TAMIU-SBDC) will be sponsoring a series of workshops during the month of March. The “Managing Cash: The Small Business Owner's Guide to Financial Control” workshop will start on Wednesday, March 5, 2008, from 9:30 a.m. to 12 p.m. at the Texas Workforce Center in Hebbronville, Texas.
The free workshops will focus on cash flow. 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.
Workshop topics include: 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.
The workshops will be offered in the following locations: Thursday, March 7 at Las Pénitas Community Center; Wednesday, March 12 at the Texas Workforce Center in Zapata, Texas; Thursday, March 13 at the Rio Bravo and El Cenizo Community Centers; Friday, March 14 at the Larga Vista Community Center and Self-help Center on Hwy 359.
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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