During this 2-hour workshop, you will learn:
- What does it take to start a business?
- Do you need a business plan and how to create one?
- What are some small business marketing dos and don'ts?
- And more!
PART 2 Start your Own Business Workshop Part 2 - Business Financing and Accounting 101 09-22-22 6-8 PM
Learn how to finance your business and basic accounting with the Texas Tech University Small Business Development Center.
ACCOUNTING
We will discuss basic accounting principles that every small business owner should know.
- Debits and Credits in QuickBooks and other similar software
- Cash vs Accrual, why should you care?
- Understanding financial statements
- What is a balance sheet and how do you read it?
- What kind of important elements can you find on a balance sheet?
- Spotting bookkeeping errors on a balance sheet
- What is an Income Statement (Profit & Loss Statement)?
- Various kinds of profit and loss statement details
- What items should NOT appear on profit and loss statements?
- Typical mistakes seen on profit and loss statements and how to avoid them
- Net profit vs Cash
- What is a cash flow statement and how can it help your business?
FINANCING
Learn the basics of small business loans. This knowledge can apply to startup businesses, existing businesses wanting to expand, or loans for franchisees or to buy an existing business. We will cover various funding sources, including SBA loans. We will explain how banks look at and assess your business loan applications so that you are better prepared and to increase your chances of approval.
Sponsored by the Texas Tech University Northwest Texas Small Business Development Center
Pre-registration required.
Registration complimentary however space is limited please contact Becky Castilleja 806-745-3973