The Southwestern Oregon Community College Small Business Development Center (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. Thursday, October 19th 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 Thursday, November 16th 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 Thursday, December 21st will focus on the cash flow process and time will be spent refining cash flow projections for current and future business needs. 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, 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 $100 value. Preregistration at www.Bizcenter.org is required to insure seating availability and materials. The course will be held in Coos Bay at the Newmark Center Room 207, 1988 Newmark Ave. from 5:30 pm – 8:30 pm on Thursday, October 19th, Thursday, November 16th and Thursday, December 21st 2017. Curry and Western Douglas County businesses will be able to attend via interactive video. The cost of this course is $185. Contact the Southwestern SBDC at 541-888-7026 or email Mary Loiselle at mloiselle@socc.edu for more information.
