Starting a small business

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Chaim Yudkowsky, CPA, CITP, CGMA - Byte of Success

Delivered multiple times and in various settings in 1996 - 1997 focuses on the basics in starting a small business

Published in: Business, Economy & Finance
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Starting a small business

  1. 1. An Accountant’s Perspective on Starting a New Business Chaim Yudkowsky, CPA
  2. 2. Sources of Financing Commercial Lenders Government Programs • Job creation • Job retention Secondary Markets • Brokers • Commercial Finance Companies • Insurance Companies • The Money Store!
  3. 3. Role of the Accountant Knowledge of Financing Sources Knowledge of Lenders Understanding Your Business Knowledge of How to Structure Your Loan from a Tax Viewpoint Preparation of Documents - Who is Responsible?
  4. 4. Suggestive Business Plan Components Purpose Introduction Description of Business Management of Business Description of Service/Products Financial Information Additional Information Intangibles Good Luck!!
  5. 5. Financial Components Necessary for a Business Plan/Loan Package Business Tax Returns Personal Tax Returns Historical Financial Statements Projected/Forecasted Financial Statements Financial Graphs Current Financial Statements
  6. 6. Loan Structuring Repayment • Term • Line of Credit Amortization of New Debt • Structuring • “Holidays”
  7. 7. Where to Get Help? SBA/SBDC/CEBO/SBI’s SCORE CPA Attorney Commercial Banks Library MSBDFA MIDFA Local Jurisdictions Chambers of Commerce
  8. 8. Questions and Comments
  9. 9. Thank you
  10. 10. Thank you

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