Existing businesses have individualized needs as they progress through the launching stage and start to grow. SBTDC consulting teams have been formed throughout the state to specialize in specific areas to assist small business clients in determining where their company currently is; where their company has opportunity to grow; and their strategy and next steps for their company to pursue the best opportunities.
The SBTDC has developed tools and services to assist existing businesses as they enter new markets, strengthen existing markets, and move away from markets with declining profit margins. This results in increased sales and job creation. The SBTDC strives to maintain an understanding of the client’s experience and target the appropriate services to the client.
Finance and Strategy Specialists
The specialists have extensive experience in accounting and banking. Their expertise assists companies in the following areas:
- Ensure financial records are accurate
- Prepare loan packages for submission to banks
- Compare financials to industry benchmarks identifying areas of improvement
- Use financials as a tool to manage the business
- Develop “what-if” scenarios for financial impact on the business for new initiatives or ROI
- Complete annual budgeting
- Implement cash management
- Leverage lending relationships