Preparing a business plan to determine how much working capital is required to maintain the business is an important factor throughout any startup or expansion campaign. When approaching a lender, an understanding of the types of financing available and your business’ cash flow can pave the way to your business’ success
A key factor in growing your business is performing a comprehensive sales forecast that can guide investments down the road. A business coach can help you conduct a break-even analysis and evaluate your gross profit margin to set your business up for success. They can also assist in identifying your business costs and the effects on your working capital and cash flow.
It’s no easy feat to understand and identify the full scope of potential business expenses – that’s why the WV SBDC is here to help! We can work with you to better understand financial statements, cash flow, product costs, etc. so you can shift your focus to the future and get ahead of your competitors.
Do you need help with your bank statements, invoicing, record keeping, taxes, or internal procedures? The WV SBDC can work with you to create a plan of action and deepen your understanding of your business’ cash flow and financial statements. In learning to review your costs and manage your books, you’ll gain a better understanding of your business’ financial health and sustainability.