Fiscal Fitness Class Helps Businesses Learn About Finance
"5 Keys to Achieving Fiscal Fitness" is a class offered by the Michigan Small Business and Technology Development Center (MI-SBTDC) to help business owners strengthen their financial literacy. Watch the video to find out more.
The workshop "5 Keys to Achieving Fiscal Fitness" was presented in Traverse City by the Northwest Michigan Small Business Development Center (MI-SBDC), a program of the Northwest Michigan Council of Governments. The workshop, sponsored by Fifth Third Bank, is part of a statewide training program designed to help non-financial manager business owners strengthen their financial literacy and improve their ability to access the capital they need to grow their businesses. Workshop participants learned about using their balance sheet and income statement to identify problems, ways to increase their cash flow, and how to use breakeven analysis to improve decision making.
"I've been picking up, here and there, little bits and pieces of this flow chart and that cash flow method but this put it all together which was really useful," said Joel Mulder, Michigan Hop Alliance.
"Everything was very pertinent to what we experience," said Terri Jo Umlor, Springfield Commercial Roofing. "It was really good information for small business owners like us."
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