Financial Management for Small Businesses

Welcome to Financial Management for Small Businesses, a Money Smart course developed jointly by the Federal Deposit Insurance Corporation (FDIC) and the U.S. Small Business Administration (SBA).

This class will help you understand the basics of financial management and identify best practices, tools, and resources available to your business.

Time: 8:00 am – 9:30 am

Date: Wednesday, April 26, 2023

Location: 5415 Evergreen Way, Everett, WA 98203

Cost: Free; Coffee and Donuts Provided

Classes are hosted by Katy Woods, Coastal Community Bank Branch Manager, and Certified Coach. Katy joined Coastal as the Monroe and Sultan Branch Manager in 2013, and works with businesses from all stages including startup, growth, and sale or succession. She received her professional Leadership and Growth coaching certifications in 2015. Space is limited!

Learning Objectives

After completing this class, you will be able to:

• Explain the concept of financial management and why it is important to a small business and its owner.
• Identify financial management practices, rules, and tools commonly available to small businesses.
• Explain how financial management practices, rules, and tools work.
• Explain financial management basics for a small business, including:
• Start-up financing
• Financing for a growing business
• Financing working capital
• Financing fixed assets

Agenda

• Benefits of Financial Management
• Budgeting
• Bookkeeping
• Financial Statements
• Business Financing