Start-Up Costs & Understanding Financial Statements

Gain insights into various categories of startup costs, recognize the significance of accurate financial projections, and acquire the proficiency to effectively manage your financial statements pertaining to revenue and expenses in accordance with the Income Tax Basis, all of which are pivotal for your meticulous tax season preparations.

During this informative session, we will delve into the following key areas:

• Start-Up Costs: We will explore the comprehensive breakdown of the expenses associated with initiating a new business endeavor.
• Sales Projections: You will learn how to project and estimate your sales, a fundamental aspect of financial planning.
• Break-Even Analysis: Understand the pivotal point at which your business covers its expenses, a crucial metric for financial stability.
• Financial Projections: Learn the art of creating well-informed financial forecasts that guide your business strategy.
• Statements of Revenue and Expenses (Income Tax Basis) - Exhibit A, B & C: We will provide insights into the structured presentation of your financial data, ensuring compliance with the Income Tax Basis.

You will walk away understanding the importance of separating your personal and business finances, keeping your business up to date with the right technology, and knowing your credit options when the need arises.

We will also go over effectively managing your cash flow and the importance of having insurance to protect you from the unexpected.

Instructor: Stuart Walters

My name is Stuart Walters, and I have been a counselor at CEED for 7 years. I retired from a banking career in 2015, having spent 30 years in banking. I have a degree in Mathematics from Wake Forest University and also completed the NC School of Banking at Chapel Hill, a three -year program. I enjoy teaching and have taught numerous classes at CEED on various topics over the last 7 years.

The WBC program is designed to assist socially and economically disadvantaged females in starting and/or expanding small businesses. Join us to learn how we can help you, learn more about the typical pitfalls for small businesses, and how to start on the right foot to plan to sucCEED!

Instructors: CEED staff have been trained by The Small Business Administration. Every staff member has business experience ranging from ownership to banking.

Women's Business Center Scholarship Eligibility Form

https://www.wbcfay.org/scholarship-eligibility-form/

Disclaimer: $5 Fee is NON REFUNDABLE

Disclaimer: I request business counseling services from the Small Business Administration (SBA) or an SBA Resource Partner. I agree to cooperate should I be selected to participate in surveys designed to evaluate SBA services. I permit SBA or its agent the use of my name and address for SBA surveys and information mailings regarding SBA products and services. I understand that any information disclosed will be held in strict confidence. (SBA will not provide your personal information to commercial entities.) I authorize SBA to furnish relevant information to the assigned management counselor(s). I further understand that the counselor(s) agrees not to: 1) recommend goods or services from sources in which he/she has an interest, and 2) accept fees or commissions developing from this counseling relationship. In consideration of the counselor(s) furnishing management or technical assistance, I waive all claims against SBA personnel, and that of its Resource Partners and host organizations, arising from this assistance. Use of Information: The information in this form is to be provided by individuals and business seeking technical assistance services from the Small Business Administration (SBA) or an SBA Resource Partner. The information is collected to help SBA's continuing improvement of business counseling programs, to ensure effective oversight and management of entrepreneurial development programs and grants, and to meet Congressional and Executive Branch reporting requirements. The form should be submitted at the site of service to the counselor providing the service. Resource Partners will submit information to SBA according to the terms of their notice of award. The Women’s Business Center of Fayetteville is funded in part through a Cooperative Agreement with the US Small Business Administration. WBC Programs are extended to the public on a nondiscriminatory basis. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Language assistance services are available for limited English proficient individuals please contact the WBC at least two weeks prior by phone 910.323.3377 or email wbc1@ncceed.org so we can make reasonable accommodations if possible.