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Question:   I started my business of home and commercial remodeling 10 months ago. It is doing well but I have no idea what I am doing. I am drawing permits and doing the job, my papers and receipts are piling up. What kind of classes do you offer to help me?

Answer:   First of all, we advice that you take sufficient time to organize your business process by developing a business plan. The business plan is a tool that you can use to provide direction (guidance) to the start up phase of your business, the operational and growth phases of your business, and to your decision-making in a changing environment. It's also a tool for obtaining financing. We can advice you on the legal arrangments that you need to make in the formation of your enterprise. As you look into the organization of your business, it's important to focus on the financial activities of the business so that an accounting system for tracking your business transactions is developed. There are accounting software programs such as Quicken, QuickBooks Pro, and others that can help you in tracking your financial affairs and provide periodic reports (financial statements and schedules) of your business activity for tax filing, decision-making, determining the financial position of the company, and future business planning. You should look into the business permits and/or business registrations that may be required of local, state and federal government entities. We can also assist you in directing you to the proper government agencies once we have chance of understanding more about your business and how you will operate. In planning your business, we also assist you in developing business projections including a cash flow forcast of the first year of operations. The purpose of the forecast is to determine the profitability planned for your business to determine the cash flow needs in case outside financing (bank loan etc) is necessary during the business cycle. All business have business cycles--highs and lows. When your cash flow is unable to meet the current obligations of the business, you will have problems paying your bills which in turn may cause you to damage your credit. When your credit damaged, it will be difficult for you to secure a loan or obtain credit with suppliers. Consequently, your business will suffer and ultimately go out of business. That's why planning is essential. It helps you to avoid pitfalls along the way in growing your business. We also offer seminars that help small business owners understand the processes for operating and managing a business successfully. Our seminar schedule is found by going to our website at: http://www.elpasosbdc.biz/training/index.ssd . I advice that you consider enrolling for the Small Business Management Institute (SBMI) Program. The SBMI program schedule is found in our website at: www.elpasosbdc.biz/sbmi/index.ssd . This 48-hour program helps you go through the essential processes of operating and managing a business successfullly. You may register on-line by clicking on "On-line Registration" at the bottom of the page. You should also seek accounting/bookkeeping services from a service provider to help you with the organization of your business records. An Accounting Service can assist with setting up your company's books of account and source documents to record your business transaction as well as help you prepare periodic financial statements, maintain payroll records and submit tax reports.

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