Akshay Shrimanker, President of Shay CPA P.C., gave a two-hour business development workshop this Tuesday alongside Michael Maldonado of America’s SBDC located at Queens College. The workshop was held inside the Tech Incubator at Queens College and was aimed to educate small businesses that are looking to expand.
Maldonado started off the workshop by explaining basic business terminology, before moving on to key tips, useful tools, budgeting advice, and funding sources. He also went in-depth about why local community banks may be better suited for startups than commercial banks, as well as going through a list of alternative lenders.
He finished his part of the presentation by explaining the general criteria and disqualifiers of money lenders.
Shrimanker then took over the workshop to speak on improving the financial health of businesses. He first walked through the basics of balance sheets, which consist of assets, liabilities, and equity.
He then went on to talk about income statements, and explained in-depth about revenue, expenses, and net income/loss.
A small Q&A session was held between the presenters and attendees before the workshop came to a close around 2 p.m.
You can listen to the whole presentation by clicking this link.
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