Financial Management: Cash Flow & Business Credit for Small Business 

Cash really is King for a small business!  So you need to know how to minimize taxes and maximize the cash you keep to operate and grow your business, meet your financial obligations, and to provide an income.  This seminar will explain some of the mysteries of good cash flow practices and taxation of your business revenues.

Cash flow management will help you understand the difference between cash and profit, show you some tools for forecasting and tracking your cash position, and help you establish key indicators that tell you when things are going well – or not, and then what to do about it.  It will help you understand the importance of strong banking relationships and why that is valuable for your business.  You will be better equipped to hold onto that critical business resource – your CASH!

Critical to obtaining additional cash or funding for your business as it grows is having excellent business credit.  How does that differ from personal credit?  What types of accounts should you have to start building your business credit?  This part of the seminar will cover different types of credit accounts – trade credit, revolving credit, and bank lines of credit.  You will learn the steps you can follow to expedite the establishment of your business’s credit score.  You’ll learn the difference between PAYDEX and FICO credit scores and how to determine which companies report your credit history.  

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Speakers Biographies

Mary Moore Ritchie owned and operated a free lance court reporting business for 37 years. Business experience included securing financing, identifying new profit centers, securing government contracts, proactive business planning, personnel practices, and owning and managing commercial real estate.  She became a SCORE mentor in 2009, and enjoys leading workshops in cash flow and writing business plans and helping other entrepreneurs.  She holds a PHD from the School of Hard Knocks.

Lionel Finley retired from the US Army as a Chief Warrant Officer with 20 Years of service, which includes 3 combat tours to Iraq.  Lionel holds a Bachelor’s Degree in Liberal Arts and a Masters in Public Administration. In addition, he is currently pursuing a Masters in Mental Health Counseling at Wake Forest University.Lionel is the VP of Operations and Director of Acquisitions with Fortified Solutions Inc. specializing in residential redevelopment. He is a licensed North Carolina Realtor and soon to be licensed General Contractor. He also volunteers weekly at Grace Christian School and with the Triangle Real Estate Investors Association (TREIA).  He currently coordinates speakers for TREIA’s North Raleigh subgroup and often teaches various classes to TREIA members such as business credit, cost estimating and real estate acquisition strategies.