Small Business Finance Guides & Tools

Business Financial Fitness Program All you need to know to improve your business management skills If you’re struggling to keep your head above financial water, you may need to boost your financial literacy. Do you know the right way to find funding? Do you know which financial records you should keep on hand, and how to use them? Do you know how to project cash flow? Fortunately, you don’t have to do it alone. We’ve created the Gateway Business Financial Fitness Program specifically for busy business owners like you. With nine modules on everything from financial records to cash flow to funding, our BFF Program will give you all the information you need to get your finances back into peak condition. Business Financial Fitness Articles Take back control of your business’s finances. Check out the modules below to boost your business’ financial fitness. 01 Calculators & Templates Customer Concentration Calculator Z Score Calculator Cash Conversion Cycle Calculator Download a Business Budget Template Download a Cash Flow Projections Template 02 Your Business Financial Records Why is Important to Keep Financial Records? The Advantages of Using Accounting Software Understanding Your Financial Statements 03 Cash Flow Management Why is Important to Keep Track of Your Cash Flow? Why Banks Statements Are Not Good Enough for Managing Cash Flow? Cash vs. Accrual Accounting Managing Cash Flow Projections 04 Business Income Setting the Best Price for Your Products or Services Increasing Your Portfolio of Customers 05 Business Costs & Expenses Calculating the Final Cost of Your Products or Services Knowing Your Company’s Break-Even Point Knowing and Controlling Your Period Costs Managing Inventory 06 Credit & Receivables Management Managing Credit Policies Managing Accounts Receivable: Invoicing Managing Accounts Receivable: Monitoring Managing Account Receivables: Collections Customer Concentration Risk Measuring Days Sales Outstanding 07 Business Debt Managing Short & Long-Term Debt Debt Level & Ratio Analysis Liquidity & Solvency Financial Leverage & Risk Debt Restructuring Plan Fulfilling Business Tax Obligations Avoiding Business Tax Penalties 08 Financing Your Business Business Financing Options Obtaining Bank Financing Business Loans Bank Requirements Receivable Financing & Vendor Financing Investor Financing Friends & Family Financing 09 Budgeting, Forecasting & Planning The Importance of Business Plans Preparing Projected Budgets Building Excellent Business Credit Your Business Financial Records You can’t improve your financial condition without knowing where you stand. That’s why having up-to-date and accurate financial records is so important. Are your records current? Do you know which records are important? Do you know how to read the records and apply them to your business?If not, check out the informative learning modules above. They’ll help you better understand your records to review your business’s financial health regularly. Cash Flow Management Cash flow is the lifeblood of any business. You can overcome almost any problem if you have solid cash flow. If you don’t have a healthy cash flow, success will be challenging, no matter how great your product or service is.How do you project cash flow? How do you prevent cash crunches? The five lessons above will help you get control of your business’s cash situation. Business Income Income is the name of the game. Without income, you don’t have a business; you have a hobby. Business history is littered with would-be entrepreneurs who had great ideas but couldn’t generate enough income to keep their businesses alive.The question is – how do you generate income? And how do you drive continuous growth? It takes a healthy mix of marketing, sales, and customer service. Here are some great lessons on how to improve all three. Business Costs and Expenses Of course, income means nothing if you can’t stay under budget. Having cost controls in place is crucial to running a successful business. Your bottom line depends not just on generating revenue but also on keeping expenses under control.Do you know your breakeven point? Do you have a budget? Do you have controls in place to ensure that you stay under budget? Look at these lessons to find the answers to those questions and more. Credit and Receivables Management The world runs on credit, as you probably know all too well. Extending credit to customers is critical if you want to grow your business. Of course, you also have to manage that credit program to ensure you’re meeting your cash flow needs.Are your customers taking too long to pay? Is it putting you and your business in a challenging cash flow situation? Check out the tips in the lessons above to reign in your receivables program. Business Debt Most businesses utilize debt in some fashion to meet obligations and to fund growth. However, if you don’t manage your debt properly, it could sink your business. Above are seven valuable lessons on calculating your need for funding, applying for loans, and managing your finances. Financing Your Business Obtaining financing, especially as a small business, can be tricky. Banks can have very high qualification standards. Other lenders may have high fees and interest rates. How do you find financing for your business without crippling your cash flow?Fortunately, there are alternatives available. Check out the financing lessons above to learn about your financing options. Budgeting, Forecasting, and Planning So you’ve gotten your finances back into shape. Cash flow is healthy. You have the financing you need to grow. You’re profitable. How do you stay that way?This is when it helps to have strong budgeting, forecasting, and planning tools so you can keep your fingers on the pulse of your business. Anticipate financial issues before they arise. Take action early. That’s how you keep your business in solid financial shape.