Limited Enrolment Program Announced Targeting Small Business Debt Management

A program designed to strategize with entrepreneurs to overcome their financial stress is now taking applicants.
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Debt Management
Small Business


Ontario - Canada

June 19, 2012 - PRLog -- TORONTO, ONTARIO, June 2012 With the myriad of challenges facing small business today, financial stress should not be one of them. Regardless of the point in the business cycle there are strategies that can be implemented to manage debt. With studies ranging from 33-75% of Canadians wanting to start a small business, it’s clear that small business has the potential to be of significant economic importance in Canada. However, it is also a susceptible sector for failure. Business failure statistics demonstrate that about 96% of small businesses survive their first year, with only 70% surviving to year five. “This failure rate can be attributed to numerous factors, but the primary source of the problem is poor planning at the start. Too many potential or existing business owners do not recognize the complexity of running a business; they may not know their market, the industry or even the incredible depth of detail required to plan for every single cost required to open and operate a business.” Adrian Rudzikas, CEO, Business Plans Canada, Jan 2012
Andrew Beattie, Investopedia March 2012 is quoted as stating that “Having enough cash to cover the bills is a must for any business, but it is also a must for every individual. Whether it is your business or your life, one will likely emerge as a capital drain that puts pressure on the other. In order to head off this problem, small businesses owners must either be heavily capitalized or be able to pick up extra income to shore up cash reserves when needed… running out of cash makes growing a business impossible.”
A February 2012 study from BMO Bank of Montreal indicated that the majority of Canadians (76 per cent) have interest in entrepreneurship, and 52 per cent of those surveyed noted that access to capital is the most noteworthy barrier to getting started. This makes managing the available capital of extreme importance to the success of small business.
Leveraging his 20+ years of diverse corporate leadership experience, Larry Pomfret is launching a program targeted to small business owners, designed to manage existing debt issues while charting a sound management plan for the future.
Leveraging his experience and insights into the relationships between companies and people, Pomfret assists organizations in their search for excellence, helping them execute on their vision. He delivers quantifiable results in the shortest possible timeframe, and builds highly effective, results oriented organizations.
“I’ve seen a marked increase in the number of small businesses who are mismanaging their company’s debt. The result is the failure of amazing business concepts; that some sound debt management could have avoided.” Pomfret says.
Due to the intensive nature of this program only a limited number of applicants will be accepted in this first offering.
Larry Pomfret can be reached directly via email or by telephone at: 1-855-332-8371
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Tags:Debt, Debt Management, Small Business
Industry:Finance, Business
Location:Ontario - Canada
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