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Money is Key to Small Business Success

May 29, 2015

Business advice for women entrepreneurs and small businesses

banks

Money is something everyone needs in their life whether it’s to maintain a household, buy a car or put yourself or children through college. Most people would agree they don’t need to be wealthy to enjoy a good life but having money helps ease the stress allowing them to feel secure and happy.

Women entrepreneurs and small business owners value money similarly. We need cash to open up our doors, cash flow to keep the doors open, lines of credit to add staff and loans to expand operations. Entrepreneurs are known to boot strap their operations in the beginning of their entrepreneurial endeavors because they need a proven track record of increasing revenue and sales and a strong business plan to obtain financing from a financial institution. Business growth hinges on the ability to obtain backing.

Small businesses need to remember our government has created a number of resources to help including the Small Business Development Centers in New York State. For twenty years I have had a business advisor from the Syracuse SBDC providing me with education, advice and financial information. On June 2, 2015, the Syracuse SBDC is hosting their annual free Lender Matchmaker Event to give small businesses the chance to talk personally to 25 financial institutions, like a few of our members Cooperative Federal and M&T Bank, in 10 minute increments about loan, credit lines and more.

If you are a Central New York or Syracuse based business, you can learn more about this valuable program by clicking on this link. I will be at this special program with a Women TIES booth so stop by if you’d like to meet me and learn more about my company’s services to help promote, market and connect women owned business in New York State.

Remember you can have the best business but if you don’t have the essential financial backing or cash flow when you need it, you can’t sustain, grow and serve your customers. Money is a key to success for small businesses.

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One Comment leave one →
  1. May 29, 2015 8:43 am

    Reblogged this on marysfairytaleweddings.

    Like

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