TAMIU SBDC Sets Workshop on
Managing Cash Flow Wisely
The Texas A&M International University Small Business Development Center (TAMIU-SBDC) will be sponsoring a workshop on “Managing Cash: The Small Business Owner's Guide to Financial Control” on June 8, 2007 from 9:00 am to 12:00 noon at the Laredo Development Foundation, 616 Leal Street.
The Workshop is free and 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 Isabel Salazar, SBDC training coordinator.
“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,” she noted.
Salazar 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,” Salazar 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 Statement – A Business Owner’s Right Hand
- Overview of Cash Flow Statement Sample
- Financing Solutions
- Four Short Term Financing Solutions.
To register, call the TAMIU SBDC office at 956.326.2827, or e-mail firstname.lastname@example.org
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