Ninety-five percent of the businesses in Macomb County are defined as a small business, one that employs fewer than 50 people. Because of this, the Macomb County Department of Planning and Economic Development (MCPED) works closely with the Michigan Small Business Development Center (SBDC) to offer owners and entrepreneurs assistance with marketing, financial analysis and planning, strategic planning, management and operations. We act as their partner, helping them succeed.
One recent joint activity between MCPED and the SBDC is the development of “Know Your Numbers,” a workshop aimed at helping business owners and key staff better understand and use their financial statements. The course, which is sponsored by Fifth Third Bank, will be held Thursday, July 26 from 9 a.m. – 12:30 p.m. at the MCPED office (1 S. Main Street, Mount Clemens). The ideal participant will have two to three years of financial history and should be pursuing financing or having challenges with cash flow. During the workshop, they will learn how to:
- Use a balance sheet and income statements in managing a business
- Use break even analysis to improve decision-making
- Find the source of cash flow problems
- Increase a company’s cash flow
- Strengthen a relationship with a banker and/or lender
Interested individuals can register for the event here. The cost is $25/person and includes a workbook – however, the course is offered at no cost to Fifth Third Bank customers and veterans by calling 734-487-0355.
Megan Ochmanek is a communications specialist for the Macomb County Department of Planning and Economic Development.