Small business owners face a number of challenges and hurdles, and, especially when they’re new to business, they’ll be looking for advice on how to deal with them. This is how banks and their small business customers build relationships, and one of the best ways to do that is to have a number of resources on hand to help them face and overcome any challenges.
A cash flow forecast guide and template is a must. The more accurately they can predict what their financial situation is likely to be in the future, the better placed they are to make decisions. If they’ve never conducted a forecast before, sit down with them and go through it the first time.
The same is true of a sales forecast. Both tools are designed to help small business owners predict the future and make decisions about it.
A break-even analysis guide and calculator is also an essential tool, especially for those just starting out.
So take a good look at the small business section of your bank’s website, and make sure it’s got the kind of resources small business owners need to tackle business challenges. Articles like the one below are also a good resource to have.
Read the full article at: www.carolroth.com