TAMIU SBDC Offers Workshop on
Wisely Managing Cash Flow
“Managing Cash: The Small Business Owner’s Guide to Financial Control” will be offered by Texas A&M International University Small Business Development Center (TAMIU-SBDC) on Friday, July 25, 2008, from 9 a.m. to 12 p.m. at the TAMIU Western Hemispheric Trade Center, room 126.
The $20 Workshop fee includes a 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 the following:
- Cash—the fuel that runs your business
- How to maximize your cash flow
- Tools for to speed up cash collections
- Overdue invoices
- Three tools for helping with accounts receivable
- Cash flow statements
- 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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