A Free SCORE Webinar Keeps Small Businesses a Step Ahead in May

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African American woman on computer for free webinar

A free webinar from SCORE Chester and Delaware Counties in May provides helpful advice to small business owners.

Understanding Cash Flow-A Business Survival Guide

On Wednesday May 19, learn about “Understanding Cash Flow–A Business Survival Guide.”

The webinar, 10 to 11a.m.., is hosted by Tom Faughnan. Faughnan is a SCORE mentor. He is retired as Chief Financial Officer from Axalta Coating Systems.

This session will help you understand the differences between cash and earnings. It will provide suggestions to maximize cash.

Sales and earnings are not enough to survive. Ask W.T Grant, who had consistent earnings growth, yet went bankrupt. 

Ask Bernie Madoff, whose Ponzi scheme would have gone on had it not been for the lack of new cash inflows. 

In fact, the number two cause of business failures is not knowing the difference between earnings and cash!  Understanding the value of time in the cash equation is critical to business survival.

About the Presenter:

Tom Faughnan was the founder and CEO of Tech Services International, a limited liability corporation in Kennett Square. 

As part of his strong commitment to education, Faughnan taught Accounting and Financial Management Theory and Practice to undergraduate and graduate students at Pace University in New York, University of Arkansas, Delaware State University, Virginia Commonwealth University and continues to teach today at West Chester University in West Chester.

He is a Certified Public Accountant (CPA) as well as a Certified Forensic Accountant.

Click here to register. 

How to Start and Operate a Small Business

On Thursday, May 20, learn “How to Start and Operate a Small Business”.

The webinar, 6 to 7:30 p.m., is hosted by Frank P Farmer, attorney and SCORE presenter. 

If you are thinking about becoming your own boss, this is a chance to get an overview of the things you need to know and the skills you need to have.

This is a chance to get an overview if you are thinking about “becoming your own boss.”

This webinar is right for you if you are in the early stages of thinking about starting a small business. It will also help those who have started their own business but missed a few things.

Join Frank P. Farmer, Jr., in a discussion of the ‘nuts and bolts” issues that should be considered when starting and operating a small business.

Frank will discuss topics including:

  • The need and usefulness of developing a business plan;
  • Selecting a business organizational structure;
  • Fictitious name registration; licensing;
  • Hiring employees vs. independent contractors;
  • Obtaining tax identification numbers

About the Presenter:

Frank P. Farmer, Jr. is a graduate of Widener School of Law. He is a member of the Pennsylvania Bar. Farmer has had a private law practice since 1980. 

Frank Farmer is located in Kennett Square, but he offers services throughout Delaware Valley. His practice concentrates on small business transactions. That includes representing individuals and business entities. It also includes starting, operating, and/or buying/selling small businesses. 

His services include:

  • Incorporation services and registration of fictitious names;
  • Preparation and review of leases, contracts, employment agreements, shareholder/operating /partnership agreements;
  • Representation of buyers/sellers of businesses, conflict resolution, and problem-solving.

This program is presented in partnership with the Small Business Development Centers of Kutztown and Widener Universities.

Click here to register. 

About SCORE

SCORE is the nation’s largest network of volunteer business experts. It is dedicated to helping small businesses get off the ground, grow and achieve their goals.

Make a difference as a SCORE volunteer

Since 1964, it has provided education and mentorship to more than 11 million entrepreneurs nationwide.

SCORE Chester and Delaware Counties has been operating since 1985. It has 100 dedicated volunteers today. They provide confidential mentoring at no charge. They offer business seminars, workshops, and webinars to benefit the local community.

SCORE is a 501(c)(3) nonprofit organization and a resource partner of the U.S. Small Business Administration (SBA).

Find out more about SCORE by clicking here. 

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