The team is looking at the way Mary deals with
money. Their observation of the company is that Mary is not in really bad
financial shape despite all of the downsizings she has done in the last three
years. Mary’s debt load is small but her accounts receivable is high. She does
seem to have money to pay her bills and make a profit but growth is not
realistic. Since one of the major purposes of this report is to give Mary
recommendations on how to put her company in a position to grow, it might be
best to help Mary with ways to improve her cash management flow and how it will
relate to financing. Also, you think that this is an area where growth must be
considered carefully.
Directions:
1.
By complete the following:
Research the best tips for managing cash flow and create a
checklist for Mary to use in the future. Try not to just pick the most
common ideas; look for those that are different as well.
To go with the checklist, make another checklist of the
things to avoid doing when managing cash flow.
Explain to Mary how and why she must correct her immediate
problem with accounts receivables if she hopes to get financing in the
future.
Create a table that describes all ways small business owners
can obtain financing. In the column, section use the following headings:
description of the finance type, who can benefit most from this type of
financing, recommendation. The rows will contain various types of
financing possible for Mary. Explain to Mary that you have started the
table for her but she should carefully examine the
recommendations the firm has made to see if they work for her in light of
her plans to grow.
Review part two again and explain to Mary how her downsizing
might affect her financial future. Be sure to identify what stage in the
life cycle she is in and how that will play into the financial plans she
should consider in growth.
Articles to review
https://www.forbes.com/sites/alanhall/2012/10/20/5-means-of-funding-a-small-business-how-to-get-your-piece-of-the-pie/?sh=ef873881cf2c
History of Mary’s company is attached and other readings to use
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