Tips from September 23, 2009
The Small Business tips today cover talking to your bank about financing.
- Know the facts, including the current state of economy and type of business you run & its success vs. the industry.
- Prepare documents, files, and reports to have available for banks. Do light research on various ways to finance.
- Evaluate your business financially. Use legit records and be honest. Know your net worth as well as annual and personal cash flow.
- Plan ahead and predict the future. Think about previous years and sales trends. Forecast monthly for the entire year.
Daily Overview: Be efficient and have all the information ready & prepared to talk to a bank about financing.
