12:00a.m. 20th August 2008

Leanne Burnside, from Complete Framing Maroochydore, with her daughter Jaylene Thompson. Photo:Barry Leddicoat/177712

Finanacial management can be one of the biggest hurdles facing small businesses, but the Getting Down to Business 2 program can help take the fear out of finance.

Sunshine Coast Business Academy principal Leigh Rachow said the aim of the business training and mentoring program was to help small business owners improve their financial management practices with one-on-one mentoring, workshops, budgeting and cash flow help and information from experts in tax, superannuation, financial planning and legal issues.

Complete Framing Maroochydore owner Leanne Burnside, who took part in the first series in the program, said before doing the 10-month course she found financial management a daunting task.

“I didn't really have any structure for budgeting and forecasting my finances before doing the program, because I was too busy working on the business,” she said.

“I only looked at the finances because I had to, but now I understand a lot more about it and it's not a daunting task any more because I have more control.

“In the past I was relying on other people to tell me what was happening, whereas now I can look at a spreadsheet and understand what I can afford and how I can achieve my goals.”

Leanne said the highlight of the program was being able to work with a mentor to gain an understanding of financial management at the basic level, and gradually build up her knowledge.

She said her business now had a budget forecast for the next 12 months, which she could monitor on a daily, weekly or monthly basis, as well as a structured marketing plan.

“We also did a client survey and worked out our target market, where they were from, their demographics and why they came to us, and that gave us more assurance that we had a good business and we also found we got a lot of referrals and word of mouth, so that was encouraging,” she said.

She encouraged other small business owners to sign up for the program to give them a clearer understanding of how their business worked.

The next Down to Business 2 program begins at the end of September and continues until March next year.

The program is subsidised by the Federal Government under the Business Enterprise Small Business Program, and the cost to participants is $495.

For details phone 54 437599 or visit http://www.scba.com.au/business/

“I only looked at the finances because I had to, but now I understand a lot more about it and it's not a daunting task any more because I have more control.”