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ASBTDC's every-other-month enewsletter for our friends in the banking industry | |
| Call on Us | |
Wouldn't you like your borrowers to have a better understanding of the market, industry, and financial aspects of their business? ASBTDC offers one- on-one free consulting services for current and prospective small business owners. Our goal is to equip business owners with the information, guidance, and tools they need to make better business decisions.
501.683.7700 |
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Specialized services for veterans | |
Do you work with military veterans who own or want to own a small business? ArkansasVeteran.com, a Web portal created by the ASBTDC, provides free resources, tools, and training for veterans who are small business owners or aspiring entrepreneurs.
Veterans can create a free user account to access 20 small business online training courses at no charge (a $600 value!).
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| National Small Business Week | |
This is National Small Business Week, honoring the 27.2 million small businesses in America. Go to the National Small Business Week website to view webcasts of the week's events and learn more. |
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Fact: The average number of funerals for most funeral homes is 100 per year. (First Research)
 Technology, economics, and changing cultural norms have changed the funeral industry. Many consumers are now comparison shopping to find a good value, and the rise in the number of cremations (a cheaper alternative than traditional burial) has forced funeral operators to adjust.
Current trends show that cremations have increased to almost 40%. For the funeral operator, this represents a change in expected revenue per funeral since cremations generate less revenue than traditional burial but have a higher profit margin. Some operators are now offering "green burials" as a way to differentiate themselves from the competition.
As in the past, funeral homes have continued to remain a local and fragmented industry. Cash flow for funeral operators tends to be sporadic with increases in demand during the winter. Since fixed costs are high, proper cash flow planning is essential. The funeral industry is labor intensive. The average revenue per worker is $130,000. The average net profit after tax is 4.5%. (Source: First Research)
If this is the kind of research you would like to see from your customers in a loan package, please refer them to the Arkansas Small Business and Technology Development Center. With seven offices across the state, we're well equipped to assist them.
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Your customers can get reliable industry benchmark data from ASBTDC
The FINTEL Business Scorecard provides small business owners with an easy-to-understand, quick and insightful snapshot of their companies in comparison with industry peers and competitors.
Business owners enter information from their company financial statements, and FINTEL calculates and displays nine key financial ratios - including liquidity, efficiency, profitability, and growth - based on the information entered. Clients of the Arkansas Small Business and Technology Development Center can get the scorecard report for free.
The scorecard shows industry financial benchmarks comparable to the business under analysis out of a selection of over 2,500 industry segments (privately held companies and family-owned businesses included) and suggests practical recommendations for improving financial performance based on the results of the analysis.
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The Arkansas Small Business and Technology Development Center is funded in part through a cooperative agreement with the U.S. Small Business Administration through a partnership with the University of Arkansas at Little Rock College of Business and other institutions of higher education. UALR is committed to the policy of providing equal opportunity for all persons and does not discriminate in employment, admissions, programs, or any other educational functions and services on the basis of sex, age, disability, race, and national origin, color, or religion. |
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