Description

Understand the intricacies of banking for business! In this 4 part series, you'll get access to best banking practices from starting a business, expanding your business, selling your businesses and everything in between. Join experts Matt Nicholl and Stephen Austell from Berkshire Bank and Sam Russo from SCORE and gain the needed insight to ensure the financial success of your business investment.  Choose to attend the entire series, or one or more specific sessions in the series to participate.

Details of Each Session:

Week 1:  3/11/21 - What are financial institutions looking for?

•    Cash Flow- How do financial institutions calculate cash flow?
•    Credit-What options for credit facilities are there?  
•    Projections-How do financial institutions use projections, how should your business utilize them and why do you need to go through this process?
•    Partners-Why is having many partners important and how does it contribute to your long-term
     success?

Week 2: 3/18/21 -   Getting ready for your start up business:

•    First Steps-Coming up with a plan
•    Start Up Funds-How much does it take to start a business?  
•    Accepting Payments-How will you accept payments for your business?  
•    Loans-How will you structure your loans?
•    Resources-How can you utilize Score or SBDC to develop a business plan and projection?
•    Assumptions-What are assumptions and why are they a very important part of the business plan?
•    Liquidity-What is post-closing liquidity and why is it important?  

Week 3: 3/25/21 - What to know if you are looking to expand your business:

•    Financial Partners-Why do your CPA, Banker, and support partner need to be on the same page?
•    Cash Flow-What do you mean I don’t have cash flow?
•    Expansions/Purchases-How much of a down payment do I need for an expansion or business purchase?
•    Financing-Why can’t I just use a line of credit to buy my equipment?
•    Resources-Why should you keep Score/SBDC in your ongoing business expansions?  

Week 4: 4/1/21 - Acquisitions and Selling your business: 

•    Succession Planning- Stephen Augstell Berkshire Bank Wealth Management
•    Buy Sell Agreements- Stephen Augstell Berkshire Bank Wealth Management
•    Preparations-Preparing your business for sale
•    Value-Making sure you get the value you want out of selling your business
•    Acquisitions
•    Planning-Do you need a business plan to acquire an operating business and why?