Inspirational and Empowering Child Care Business Owners To Build Successful Child Care Businesses

Posts tagged ‘budget’

How to Keep Track of SBA Funds

calculator placed over stack of usa dollars

Photo by Karolina Grabowska on Pexels.com

Have you applied for the payroll protection plan or any SBA Funds for your Child Care Business during this pandemic?

Covid 19 hit the childcare industry and many other industries hard and having financial assistance from the SBA and other agencies is how many businesses are surviving right now. However, it is still vital that you maintain your record keeping in the event of an audit.

Today I want to share some strategies with you that will help you to maintain your current budget plus the additional funds that you receive from the Small business assosciation or Federal PPP funds.

 

 

  1. When you receive SBA funds, keep those funds seperate from other business funds. It may even be helpful to you to start another bank account.
  2. Keep track of how you spend the funds by using a log. (SBA Working Capital form
  3. Only use the funds on monthly operating expenses such as: rent, payroll, food, supplies, utilities, etc.
  4. Using SBA funds frees up your monthly workin capital and allows you to stay afloat during this pandemic.
  5. Finally be sure to keep all receipts.

With your Business Success in mind,

Shiketa

If you need coaching, I am just a phone call away! sign-up today.

Category:

Accounting, Budget, Business Management, Marketing, Record Keeping

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5 Simple Strategies To Makeover Your Money Management Skills

intermediateaccounting

This week I want to inspire you to improve or makeover the way that you manage your money in your Business. In fact, I believe this, if you don’t manage your money effectively, you could soon be out of Business. Money is the lifeline of your business and when it is not effectively managed, you can have some major cash flow problems.

Furthermore, I want you to throw away this excuse: “ I’m not good with money.” Excuses will only hinder your success and today I am going to give you 5 simple strategies to makeover your money management skills. Ready!…. Here we go!

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To Your Success,

Shiketa

I look forward to reading your comments about this Blog post below.

Category:

Accounting, Business Management

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