The BWA Learning Series Continued this month to address the complexities of skills required for successful financial management of your business!
18 BWA members took time from their busy summer schedule to engage in the third of the BWA Learning Series: Financial Management Skills.
Bank survey’s reveal competent “Financial Management” skills as the #1 differentiating behaviour factor attributed to high-performing successful business owner/entrepreneurs.
George Lightfoot of Entrepreneur Support Services combined elements of several courses to provide a high-impact day of training for members. The day was specifically designed to help action-oriented commercial/family operated business owners and managers understand & use “Financial Statements” as effective management tools, to discover ways to:
- Increase Profits & Profit Margins, Reduce & Control Expenses!
- Develop & Initiate Measurable “Profit Improvement Plans!”
- Understand Bankers & the Importance of Developing Good Relationships
- Read & Understand Financial Statements & Use Them As Management Tools
- Determine & Improve Business Values!
- Prepare Budgets & Cash Flow Statements
- Prepare Bank Credit Requests
- Understand, Calculate, Benchmark & Monitor Key Financial Ratios
- Government Guaranteed Small Business Loans” & “Wage Subsidy Programs”
- Cost/Mark-Up/Price Guidelines To Help Achieve Realistic Profit Margins Set Standards
Members enjoyed candid discussion on dealing with banks and getting the most out of financial institutions.