In business, knowledge is power, and much of the information you need is already in your possession – in your financial records.
Accountants use financial statements to identify profits and losses; balance your assets, liabilities and equity; and help determine your tax obligations. The SBTDC can help you interpret that information so that you can make sound operational and management decisions for your business.
An SBTDC counselor can work with you to identify weaknesses and opportunities that exist in your liquidity, sales, and profit margin ratios and design strategies to save and make more money.
A session with an SBTDC counselor can give you:
- Key business ratios for assessing your business’ performance.
- An evaluation of your current results compared to previous years.
- Real-time comparisons of your results with others in your industry.
- A list of areas to focus on.
- Practical advice and solutions to improve your financial situation.
- Charts and ratings to help illustrate and interpret your numbers.
- Definitions to help you understand the purpose and meaning of ratios and statistics and how they are derived.
- Future projections and financial impact for growth strategies.
The SBTDC has partnered with Sageworks to utilize their high-powered software, ProfitCents®, to give NC businesses a quick, no-cost analysis of their finances. Our counselors can then help you turn that knowledge into better decisions for your business.