“Where Did the Money Go?” training at the SBDC, March 8

Southwestern Oregon Community College’s Small Business Development Center (Southwestern SBDC) is offering a 3-session workshop series that focuses on the tools to build, repair and maintain a profitable business. Participants will gain skills in managing a business by the numbers through understanding financial reports and learn the art of efficiently managing cash in a business. So often we see small businesses fail because they don’t have enough cash to pay all the costs and provide an income for owners. An understanding of the financial side of a business can help alleviate cash flow problems leading to stronger, healthier businesses. The program’s format includes classroom meetings and one-on-one business advising. Tuesday, April 12, 2016 the presenter will focus on understanding financial statements. This session will help business owners understand how the cash a business generates flows through the income statement, is used by the business and is reported on the balance sheet. The class will help you identify places where money can get “stuck”. Participants will be asked to build a cash flow model of their business to discuss and refine at the final session of the series. On Tuesday May 10, 2016 emphasis is on building a cash flow analysis and understanding, not only how business decisions can affect available cash, but also how to use a cash flow worksheet to project future cash flows and identify potential bottlenecks. The final class on Tuesday, June 14, 2016 will focus on the cash flow process and time will be spent refining cash flow projections for current and future business needs. Classes start at 6:00 pm and end at 9:00pm at The Business Center, 2455 Maple Leaf, North Bend. The presenter for this course is Chris Christoffer. Mr. Christoffer retired from Sterling Bank after 43 years in commercial banking. As a commercial lender, he has a thorough knowledge of small business financial statements and cash flow management. He is a strong advocate for small business. In addition to the classroom time in the course, free one-to-one business advising, as well as access to other SBDC resources, is available and is included in the cost of the training. Each participant in the program will receive a financial analysis report of their business compared to industry standards, a $50 value. Preregistration is required. The cost of the training is $150. The cost covers the complete program, as well as materials. Chamber members and tribal businesses receive a $20 discount off the $150 price. Those interested in attending can contact the SBDC at 541-756-6866 for more information or register online at http://www.socc.edu/sbdc. Payment for the class can be mailed to the Small Business Development Center, 2455 Maple Leaf, North Bend, OR 97459.