Lānaʻi Workshop: “Pinching Your Pennies: Finance for Small Businesses”
Lānaʻi residents interested in learning more about how to run their business more profitably are encouraged to attend a free workshop, “Pinching Your Pennies: Finance for Small Businesses,” on Tuesday, Aug. 16.
Presented by Maui Economic Development Board as part of their Innovation Series, this business assistance workshop will be held at the Lānaʻi Senior Center from 5 to 8 p.m. Dinner will be provided.
During this workshop, attendees will receive helpful tips on how to run their business more profitably and avoid mistakes that cause businesses to fail. Among the topics to be covered are:
· How much does your product REALLY cost to make?
· How much should your product sell for?
· What is the difference between Wholesale and Retail price?
· What is Break-Even analysis?
· What is cash flow and why is it so important?
· What are fixed versus variable costs?
The workshop speaker will be Gerry Smith, Director of Business Development at Maui Economic Development Board. An MBA graduate with a Project Management Professional certification, Gerry has been in financial and project management for over 25 years. Prior to joining Maui Economic Development Board in 2014, he served as Finance Officer for the Marshall Islands Nuclear Claims Tribunal; Director of the Pacific Rim and Assistant Vice President for Science Applications International Corporation, and Program Manager for Northrop Grumman.
The workshop is sponsored by the County of Maui Mayor’s Office of Economic Development.