of the business On Your Own Assess performance, identify challenges, and refine your strate gy for the upcoming year. This includes reviewing and to • balance sheets, • income statements, and • cash flow statements Local Resource Presentation Title 5 20XX Schedule a consultation with one of these MBA businesses: • Bookkeeping Today, Teri Pascone, • Lamp Ledgers Bookkeeping, Moriah Wallis
Statements • identifies the company's ability to sell its pr oducts or services effectively, • the costs incurred in the process of earning revenue, • Gains and losses (company’s net income), • the company's profitability during the reporting period, • Helps to identify trends (comparisons). 2026 Cash Flow • help to determine risk • lists everything a company owns and all of its debt. • assess whether it has borrowed too much money, • Determines if the assets it owns are not liquid enough, • Determines if there is enough cash on hand to meet current demands. • shows how money flows in and out of a company through operations, investments, and financing activities • essential to understanding a company's financial health. • helps identify financial trends and potential problems, • assess a company's ability to sustain operations, invest in growth, and manage obligations.
• Institute new sales strategy to boost income, • Reduce cogs, • Keep track of statements to determine trends, • If not profitable, start plans to boost rev and decrease expenses, 2026 Cash Flow • Take steps to limit liabilities, • Put a debt reduction strategy in place, • Consider liquidating assets, • Get at least 30 – 90 days cash on hand, • Identify areas where you can reduce cash outflow, • Identify product/service lines that produce the highest ROI to maximize income, • If negative, plan to working on reducing costs first then increasing income through marketing ideas..
– check messages and documents • Longin mibusinessregistry.lara.state.mi.us – check status and documents FEDERAL REPORTING • Complete if you haven’t – annual reports, catch up • For Nonprofit organizations – annual reports, 990s • Tax filings • If you ever want to apply for contracts or grants, you need a login.gov and grants.gov accounts. The process is simple and worth in. 10 2026
less obvious tasks On Your Own Mark your calendar to update your documents monthly • Milage, • Financial sheets, • Tax pre-payments, and/or • Comparison Monthly/quarterly financial statements Local Resource Presentation Title 13 2026 Schedule a consultation with one of these MBA businesses: • Rhino Coaching and Consulting, Ryan Woodruff • McCarthy Insurance, Stacy Vervynckt • C2 Your Health Women’s Initiative, Cindy Cohen • Wealth In Motion LLC, Sonya Smith • Talent Source Staffing, Alyssa Eslinger • Check mishawakabusiness.org for more options
. . • 401k Contributions • Large purchases (100% bonus depreciation for most tangible property wi th a recovery period of 20 years or less) • Roth IRA/Catch-up • Set up beneficiaries on accounts • Donations to supported organizations Other things that you may want to do (if you haven’t already) . . . • Exit strategy • Tax, payroll, purchase, investment, operations accts • Estate documents • Strategic plan • Open accounts (general operating, taxes, reinvestment, payroll/support, investment) 15 2026
with at least one local resource Make sure you’re up to date Prep for state and federal contracts Take advantage of savings opportunities Set up for next year Determine the state of your business and take steps to address any problems. Utilize our local resources to get your business on track towards sustainability. Check your state and federal filings to ensure you are in good standing. Take the time to register at login.gov and grants.gov. Set aside any profits for contributions to Get through this year but put things in place for a better outcome next year.
cindycohenrn
lategra
kuradashi
recomothr
hr_nitoel
toggletest
sugitlab
yoshi17
mpower_partners
brainpadpr
updater_pr
otsubo
raygrieselhuber
tmiket
lauravandoore
techseoconnect
aki_iinuma
aleyda
mkilby
minecr
mayatellez
tammyeverts
ryanjones
