Council Urges Local Firms to Get to Grips with Business Finance

Newry, Mourne and Down District Council is urging local businesses to take advantage of a free financial workshop in mid-September. The ‘Getting to Grips with your Business Finance’ seminar will take place in Newry and Mourne Enterprise Agency, Newry on Tuesday 17 September and in Down Business Centre, Downpatrick on Wednesday 18 September.

The workshop is part of the Newry, Mourne and Down Business Growth Programme and part funded by Invest Northern Ireland and the European Regional Development Fund under the Investment for Growth and Jobs Northern Ireland (2014-2020) Programme.

Newry, Mourne and Down District Council Chairperson, Councillor Charlie Casey said, “I would encourage all local business owners and managers to take advantage of this free event.

“As well as the practical help and insights around managing the finances of your business, participants will also have the opportunity to meet with others who face the same challenges, to collaborate and to build better networks for the future.

“We know that finance managers in small businesses often have to perform a multitude of roles which can be daunting. Working your way through the maze of important technical terms and systems can be difficult, especially if you are unfamiliar with them. This is where our workshops come in: they will explain the basics simply and help you to understand key areas of finance.

“The Council is very keen to encourage business growth across the district. Staging this workshop in two locations over two days will, we hope, make it easier for our local businesses to take advantage of the help on offer.

“I would say to all local businesses, make the most of the assistance on offer—sign up for one of these workshops.”

Some of the areas that will be covered in the seminars are:

• Understanding profit and loss, balance sheet and cash flow statements
• How to set a price for your products/services
• The best systems for recording and reporting your financial data

• Understanding what the critical numbers are you should monitor

The Newry, Mourne and Down Business Growth Programme workshops are open to any business located in the council area. Businesses can register to attend here: www.nmdgrowth.eventbrite.co.uk