KEYS TO BUSINESS AND FINANCE TAUGHT.Byline: Daily News VALENCIA Valencia, region, Spain Valencia (välān`thēä), autonomous region (1990 pop. 3,902,429) and former kingdom, E Spain, on the Mediterranean. It now comprises the provinces of Alicante, Castellón, and Valencia. - A two-day seminar to help owners and managers improve their small businesses will be held Thursday Thursday: see week. and Friday at Mission Valley Bank's Valencia branch. Titled ``Managing and Financing Your Business,'' the seminar will be presented by Steve Abercrombie of Business Resource Services, who will teach participants how to get back to basics to grow their businesses. The seminar is designed for entrepreneurs, business owners, business advisors, chief executive officers, controllers and chief financial officers. ``Statistics show that over half of all businesses that fail each year do so despite reporting profits and record sales,'' said Mark DeMik, the bank's senior vice president and regional manager. ``The most successful businesses have found that the key to long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. success revolves around effective financial management.'' The two-day program will include presentations on financial statement analysis, cash flow planning, planning for growth, cost, volume and pricing issues, and determining the right kind of financing for your business. Participants will practice teaching points by using case studies and discussing real-life examples. Additionally participants will be given a financial physical for their own business to find out how financially sound their business is. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Steve Abercrombie, small business owners are generally good at what they do, but they often lack certain business skills. Besides being good at what they do, they need to learn how to raise capital, run daily operations, meet payroll and worry about the long-range challenges of business. ``The ability to continually con·tin·u·al adj. 1. Recurring regularly or frequently: the continual need to pay the mortgage. 2. learn and minimize mistakes is essential to running any business,'' Abercrombie said. ``The number one asset to found in a company is intellectual capital. Unfortunately, it doesn't show up in a balance sheet.'' Eighty percent of all small businesses close their doors within 10 years for various reasons, Abercrombie said. One common mistake that leads to failure is the failure to regularly track financial details. According to Abercrombie, a critical weakness of many start-up companies start-up company A new business. is not paying enough attention to collecting accounts receivables accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying . In fact it's the Achilles' heel heel (hel) calx; the hindmost part of the foot. cracked heels pitted keratolysis. heel n. 1. of small most businesses. Collecting the money is the most critical job in the company. For information, contact DeMik at (661) 775-4100. The cost of the seminar is $375, then $250 for each additional person in a group. |
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