CCS Presented a Small Business Funding Workshop for the Fayetteville Public Library
FOR IMMEDIATE RELEASE:
October 2024
Mollie Watkins, the founder of Comprehensive Consulting Solutions for Small Businesses, visited the Fayetteville Public Library to present at a Small Business Funding Workshop on October 1, 2024.
What Was Discussed?
Mollie took this time to talk to business owners and those interested in starting up a small business about different aspects of funding their small business. We walked through small business funding statistics, terms, definitions, expenses, and more.
Statistics Overview
According to Mollie, the statistics and data “gives us an insight on what to expect with the trends of funding,” which is essential for small business owners to understand their options and what those options mean for them. Some of the statistics she highlighted in this workshop were:
43% of small businesses applied for a loan in 2022
$27.5 billion in SBA loans were provided to small businesses in 2023
70% of small businesses have outstanding debt
These statistics help show that applying for these funding options is common, some small businesses may not be able to get a loan from a bank, but there are other loan options available to them,
Options outside of Loans
During the presentation, Mollie points out how loans aren’t the only option for funding for small businesses. There are also lines of credit, crowdfunding, community banks, and grants.
Keeping Costs in Mind
Mollie used this workshop to help educate the attendees about cash flow, financial statements, and other costs that should be considered when running a small business. Some examples are commercial property taxes, payroll, operating costs, profit and loss, cashflow, Arkansas franchise tax, and others.
For more info on cash flow and funding, check out these blogs:
Resources for the Workshop
To watch the full presentation, check out the Fayetteville Public Library Facebook page. Mollie shares a lot of helpful information that can benefit small business owners and those looking to start their own small business! Funding and cash flow are important for success in starting and running a small business.
About the Fayetteville Public Library
The Fayetteville Public Library offers many programs and services for all ages and interests. Their mission is “to strengthen our community and empower our citizens through free and public access to knowledge”. To learn more about what they offer, visit the Fayetteville Public Library!
About Comprehensive Consulting Solutions for Small Business
Comprehensive Consulting Solutions for Small Businesses offers business management consulting for small business owners that need business consulting and coaching solutions to increase operational efficiencies and maximize profit.
