Financials 201 - Monitoring Your Numbers, Forecasting and Budget for Growth

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This class will cover which financials are necessary to succeed as a small business owner.

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Successful strategic planning is based upon understanding the health of your business. And the best place to start is working with your financial statements. But what do you need to know in order to maximize the information they are telling you? To answer this question, the Utah Microloan Fund is sponsoring two virtual workshops: Financials 101 and Financials 201. This two-part series led by Karin Palle with Advanced Business Consulting will focus on the magic of numbers and how to use them to manage and grow your business. The details of these classes are as follows:

Thursday, January 27th: 10:00 a.m. to 11:30 a.m. - Financials 201 - Monitoring Your Numbers, Forecasting and Budgeting for Growth

Once you understand what reports you need to manage your financials, it's important to know how to use them to hold yourself and your people accountable for the financial wellness of your business. To support these efforts, Financials 201 will cover the following topics:

  • What numbers, ratios, and percentages should I be monitoring?
  • What is the difference between KPIs, metrics and goals?
  • Why is it important to create a Forecast for my business?
  • How do I create a Forecast that makes sense?
  • How can I use my Forecast to create a Budget for Growth?

Numbers are only valuable if you understand what they are telling you. So make sure to have your calculator handy to experience how math is magical and can guide you to holding yourself and your employees responsible for growth.

Sign up for part one here: https://www.eventbrite.com/e/235420437867

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Organizer Utah Microloan Fund

Organizer of Financials 201 - Monitoring Your Numbers, Forecasting and Budget for Growth

Since 1991, the Utah Microloan Fund (formerly Utah Micro-enterprise Loan Fund) has helped hundreds of entrepreneurs make their dreams come true by providing low-interest small business loans. Our mission is to empower underserved communities throughout Utah by providing business training and funding to entrepreneurs in start-up & existing businesses that do not qualify for traditional funding sources.
 
How are we different from other financial institutions? The UMLF helps people who 1) are just starting out and don’t have an operating history, 2) don’t have enough collateral for a conventional loan, and/or 3) have had life events that have had a negative impact on credit scores. We are designed to support business owners by offering small business loans of up to $50,000. Our application and loan process is simple and can provide funds for equipment, inventory, or working capital.
 
Our experienced staff is ready to help you on your path to small business success as we help you secure funding and provide training opportunities to help you develop the skills you need to reach your goals. Call, email or stop by our office to learn more about how the UMLF can help you today! 

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