Maryland Small Business Development Center, Southern Region

Happy Global Entrepreneurship Week ????! If you're an entrepreneur, SBA has services that can help you start or grow your business. This includes our resource partner network that provides mentoring, counseling, and training. Find assistance! https://lnkd.in/daGxYnS #GEW2024

Unlock Your Innovation Potential with MBOC's Prototyping Office Hours! Are you ready to bring your product or idea to life? During MBOC's prototyping office hours, our subject matter experts will guide you through each step of product development, from initial concept to advanced prototyping. Whether you're just getting started or are already deep in the process, this is your chance to: ? Gain insights on best practices?? ? Address technical challenges?? ? Learn about key resources for prototyping We’ll also clarify which services are within MBOC’s scope and where external support might be needed, so you can stay focused on what matters most for your project. Don’t miss this opportunity to strengthen your approach and confidently take the next step in your prototype journey. Sign up for our prototyping office hours on Thursday, November 21 by visiting the training calendar on our website! #Innovation #Prototyping #ProductDevelopment #SmallBusiness #MBOC #OfficeHours #Entrepreneurship

HOW TO ANALYZE A BALANCE SHEET ? What is a balance sheet? A balance sheet shows you what a company OWNS and OWES. It's like a company's "Net Worth" statement. ?? Balance Sheet Formula: Assets = Liabilities + Shareholders Equity ?? Balance Sheet = Snapshot Balance sheet = snapshot -> at a certain point in time ?? Assets: What the company OWNS Two categories of assets: → Current Assets: Assets that are expected to be used in <1 year. → Non-current assets: Assets that are expected to be used in >1 year. ?? Liabilities: What the company OWES Two categories of assets: → Current Liabilities: an obligation due in <1 year → Long-Term Liabilities: an obligation due in >1 year ?? Shareholders Equity: A company's NET WORTH. →The dollar amount that would be returned to shareholders in the company was liquidated. ?? Balance Sheet Analysis: ? Questions: 1: How much CASH does the company have? 2: Are there any ACCOUNTS RECEIVABLE? 3: Is there any GOODWILL? How much? 4: What are the biggest liabilities? 5: Does the company have any DEBT? What kind? 6: Is there any PREFFERED STOCK? 7: Are RETAINED EARNINGS positive? Is it growing? 8: Is there any TREASURY STOCK? ???? YELLOW FLAGS 1: CASH & CASH EQUIVALENTS → Less Than Total Debt 2: ACCOUNTS RECEIVABLE → Rising Faster Than Revenue 3: INVENTORY → Rising Faster Than Pro?ts 4: GOODWILL → More Than 50% of Total Assets 5: INTANGIBLE ASSETS → More Than 50% of Total Assets 6: SHORT-TERM & LONG-TERM DEBT → More Than Cash 7: PREFERRED STOCK → There Shouldn’t Be Any 8: RETAINED EARNINGS → A Negative Number

Join us and Greater Washington Hispanic Chamber of Commerce for an in-depth webinar designed to help small business owners to get the most out of QuickBooks Online (QBO). Whether you’re new to QBO or looking to enhance your skills, this session will cover essential features, tips, and best practices to streamline your accounting processes. Topics covered include: ? Setting up your QBO account for success ? Managing transactions and bank feeds ? Organizing and tracking expenses ? Creating custom invoices and reports ? Tips for year-end accounting and tax preparation Our expert instructors will guide you through practical, step-by-step demonstrations and answer your specific questions in real-time. By the end of the session, you’ll have the tools and knowledge to take your accounting to the next level with QuickBooks Online! Who should attend: ? Small business owners ? DC Businesses that are looking to get certified ? Anyone looking to improve their QuickBooks Online skills Register now to secure your spot and start mastering your financial management in QuickBooks Online! Register here ???? https://lnkd.in/eDmb95UK

Veterans Day is a time to pause and reflect, to honor the courage, dedication, and sacrifice of all who have served in the United States Armed Forces. We at the Maryland SBDC are especially proud to support veterans in their entrepreneurial journey. We recognize the unique strengths and perspectives that veterans bring to the business world and are committed to providing the guidance and resources they need to thrive. Thank you, veterans, for your service to our country and for the impact you make in our communities every day! Join us as we celebrate National Veterans Small Business Week and share events, inspirational stories, and transition assistance resources: https://lnkd.in/eZxXGcS

FYI!

LAST CHANCE TO REGISTER FOR BUSINESS FUNDING! ? Don't miss your chance to secure funding and resources for your business. Register now for Connect to Capital - Business Speed Lending and Regional Resource Day on Friday, October 25th! Here's why you NEED to be there: * Fast-track your funding: Meet with a variety of lenders in a speed lending format! Get matched with the perfect loan option for your business growth. * Unlock valuable resources: Network with regional experts and discover tools to take your business to the next level. * Limited spots available: Registration fills up FAST! Secure your spot today to avoid missing out. Friday, October 25th ? 9:00 AM - 2:00 PM College of Southern Maryland, La Plata ?? FREE Registration! Don't wait - claim your spot now: https://lnkd.in/esgnFwP #MarylandSBDC #ConnectToCapital #BusinessFunding #LimitedSpots

LAST CHANCE TO REGISTER FOR BUSINESS FUNDING! ? Don't miss your chance to secure funding and resources for your business. Register now for Connect to Capital - Business Speed Lending and Regional Resource Day on Friday, October 25th! Here's why you NEED to be there: * Fast-track your funding: Meet with a variety of lenders in a speed lending format! Get matched with the perfect loan option for your business growth. * Unlock valuable resources: Network with regional experts and discover tools to take your business to the next level. * Limited spots available: Registration fills up FAST! Secure your spot today to avoid missing out. Friday, October 25th ? 9:00 AM - 2:00 PM College of Southern Maryland, La Plata ?? FREE Registration! Don't wait - claim your spot now: https://lnkd.in/esgnFwP #MarylandSBDC #ConnectToCapital #BusinessFunding #LimitedSpots

We’re excited to invite you to our upcoming Business Mastermind Series: 6-Week Course, led by experts from Pinnacle Financial Partners. This immersive program is designed specifically for entrepreneurs and small business owners looking to sharpen their financial skills and lay a solid foundation for lasting success. What to Expect: ??A deep dive into 12 essential financial topics that are critical to your business’s financial health and long-term success. ??An insightful study of *The E-Myth* by Michael Gerber, offering valuable lessons on how to effectively grow and manage your business. ??Practical strategies for improving your financial well-being and discovering new opportunities for business expansion. Whether you're looking to gain better control over your finances, improve your business operations, or unlock new growth opportunities, this course will provide you with the tools and knowledge you need. Course Details: -Duration: 6 weeks - Date: November 6 -Time: 5:30 to 7 p.m. -Location: 1801 McCormick Drive, Suite 350, Largo MD 20774 Spaces are limited, so don’t miss this opportunity to invest in your business’s future! If you’re ready to take your business to the next level, click here to register: https://lnkd.in/gFinNBb7. We look forward to seeing you there!

Joy A. Johnson, we are grateful you attended our Maryland Small Business Development Center, Southern Region Grand Slam Mix and Mingle event last month in September and met with Lesley Quattlebaum, PMP, CF APMP to learn about the College of Southern Maryland Velocity Center Makerspace. Shoutout to our amazing team for organizing such impactful outreach events that connect our Maryland entrepreneurs with the key stakeholders and resources that they need! Congrats and we wish you continued success. Safe travels to Dubai and back home!