bailout solutions accounting, tax, & consulting, llc

Dream It Tonight…. Achieve It Tomorrow!!!

What Does “The Bailout” Mean to Small Business

Presented by

Daymond M. Milam, MBA

Accountant / Consultant

www.1bettersolution.com

The Problem!!!!!• The U.S. economy is at its

weakest point in over 30 years.

• The Real Estate is the hardest hit: Realtors, home builders, etc.

• Those other business that may be related to real estate attorneys, suppliers etc.

The Facts

• Given the significant role small business plays in job creation—responsible for 93.5 percent of net new jobs since 1989

• 44 percent of small-business owners identified credit cards as a source of financing—more than any other source of financing, including business earnings.

The Facts• Community banks fear becoming an

inadvertent casualty of the government conservatorship of Fannie Mae and Freddie Mac.

• 87% percent of small-business owners in stated that rising energy costs have had a negative impact on their business

Do We Really Need A Bailout?

Will The Bailout Help?

• 44% of small business owners simply didn't know if the bailout, would affect them positively or negatively.

• 67% of small businesses have been affected by the credit crunch!

How the Bailout helps Small Business

• Help for community banks. These smaller institutions, which have been ravaged by the collapses of Fannie Mae and Freddie Mac.

• Fully fund the SBA. The focus is specifically on the SBA's flagship program, the so-called 7(a) loan guarantee.

How to Survive Bailout or Not?• Look for ways to

secure alternative funding for your business, i.e. grants, joint ventures, expense reductions.

• Routinely review financials: Quarterly, Monthly, Daily (if possible)

Tips for Survival

• Figure out what your cash flow requirements are in the event that your business turns down.

• Have at least six months of operating capital on hand.

• business owners need to make sure that their salaries and savings are part of the budget    ''Pay yourselves first,'‘ ''Take a salary”

More Tips for Survival

• Withdrawals from 401(k)s and other tax-deferred retirement accounts are treated as taxable income by the government.

• keep in mind where you want to end up• just as you wouldn't put all your money

into one stock, ''don't put all your money into the business.

• have an alternative plan

If Your Accountant has not helped you answer these questions call us

1 866- I ACCT 4Uor visit us on the web at

www.1bettersolution.com

What We Do?

• Monthly & Quarterly Financial Statement Preparation and Analysis

• Payroll Administration• Installation & Maintenance of

Computerized Accounting Systems and Networks

• Business Plans and Loan Packaging

• Corporate, Partnership, Fiduciary & Individual Income Tax Preparation.

• Business Set-Up, Acquisitions & Dispositions

• Grant Writing & Proposals• Incorporations (C-Corporations,

S-Corporations, LLC, LLP, PA)• Financial Analyses and

Forecasting• Efficiency Improvement • Other Services (designed to fit

your needs)

Our Clientele

• Health Care (Hospitals & SNF)• Professional Services (Legal, Real Estate, & Insurance)• Retail • Not For Profits (Churches, Schools, Civic

Organizations)• Entertainment (Artists, Musicians, Producers)• Independent Contractors (Mary Kay, Avon, etc.)• Construction & Property Management• Investors (Real Estate, Stock, & Other)

Our Contact Sphere

• Bankers (SBA Lenders and Business Bankers)

• Attorneys (Corporate & Tax)• REALTORS (Commercial &

Residential)• Commercial Loan Officers /

Mortgage Officers• Insurance Agents• Financial Advisors

Referrals We LOVE

• Individuals and /or Business with Tax Problems (i.e. Garnishments, Levies, Liens, etc.)

• Businesses Experiencing Growth• Businesses with 3 or more employees on payroll• Businesses wanting to secure financing• Individuals desiring to go into business

• Anyone Required that wants a RELATIONSHIP WITH THEIR ACCOUNTANT!!!!

Questions