Accounting Basics

The Worcester Business Resource Alliance (WBRA) is a loose network of business professionals, technical assistance providers, lenders, and community development organizations that provide services to entrepreneurs, small business owners and managers in Central Massachusetts. Each month, representatives meet to collaborate and update each other on upcoming events. Current WBRA member organizations are outlined for the convenience of prospective clients at http://wbra.wordpress.com/organizations/.

The latest update of upcoming WBRA business events is found at http://wbra.wordpress.com/upcoming-events/.

Whether you are a newly minted entrepreneur or you’re a business that has been around for a dozen years, a critical element for small business success means knowing your numbers. Sponsored by Visa, This e-guide is designed to help you better understand what figures and accounting principles are important for your business. It also looks at different accounting software programs for your company and when is the right time to hire someone to keep your business growing.

Five Important Benefits

With improved knowledge of your company’s financial situation come numerous benefits for you as the owner. Here are five important benefits that come from being financially savvy about your business.

Strategic Alliance Partners

Date
Wed, 2013-03-06 10:16

This paper will outline ways to stay ahead on your business accounting and financial paperwork. These simple weekly steps will save you major at tax preparation time as well as providing useful ongoing operational financial information to guide your business decisions.

About the Author

30+ years of retail experience with two Big Box corporations, managing numerous multi million retail outlets within New Hampshire. Experience included meeting or exceeding operational goals, profit, expense control, and customer experience.

HRV Conformance Verification Associates, Inc.

Owner/Founder
Rochelle Stachel
My Location
200 Hightower Boulevard, Suite 400
Pittsburgh PA 15205
United States
Revenue
$10 M
Employees
50
Year Company Formed
2003
How SCORE Helped

 

 

SCORE Client HRV Conformance Verification Associates Nominated for National Ernst & Young Entrepreneur of the Year Award

{Pittsburgh, PA}  The Pittsburgh Chapter of SCORE is pleased to announce HRV Conformance Verification Associates, Inc. (HRV), a SCORE client since 2003, was named Ernst & Young Western Pennsylvania and West Virginia Region Entrepreneur of the Year for 2012 and is now in contention for the National award, to be announced in November.   Rochelle Stachel, Founder and President of HRV, accepted the award in the Construction Category.

When Rochelle Stachel decided to start her own business, she did not go it alone.  Very analytical by nature and an engineer by training, Rochelle first sought out the U.S. Small Business Administration (SBA).  The SBA referred her to the Pittsburgh Chapter of SCORE (formerly Service Corps of Retired Executives).  Over the course of the nine year relationship with SCORE, Rochelle has worked with a series of counselors, each contributing different skills and talents to HRV from the initial launch of the business through their phases of explosive growth.

HRV sought assistance from SCORE to support their start-up based on the pragmatic understanding that SCORE counselors knew things about business that Rochelle did not.  While her background in engineering, accounting and consulting served as a springboard for the possibilities of HRV, Rochelle knew she needed practical advice and mentoring that she could not get from her extensive reading and research into entrepreneurship.  SCORE counselors brought the real world experiences of having addressed and overcome the challenges that she knew she would be facing. 

“They saw in us what we didn’t see in ourselves”, said Rochelle.  “Howard Martin and later, Dick Fitzgerald and Bill Mariotti, gave us moral support and acted as a sounding board.  They were our cheerleaders.  They affirmed what we were doing and helped us see that what we thought were mountains were actually hills that we could easily cross.  The added validation was that in their own careers and business endeavors, they had often overcome the same obstacles we were facing, so they were coming from a position of familiarity and experience.”

 

HRV was launched in 2003 from a home office.  They landed their first contract in early 2004, a mere 9 months after start-up.  Growing from two employees to the current count of 120, HRV has enjoyed sustained year over year growth.  Throughout, HRV continued to turn to SCORE. 

Both Dick and Bill built their own businesses so they understand firsthand the challenges of the course upon which HRV was embarking.  As volunteer SCORE counselors, they are available to mentor companies.  “We wore all the hats in our own businesses so we understand the breadth of the issues that HRV would face.  We offer the added value of being objective and like teachers, our reward is the hope that our clients will do well and listen to our counsel.  We receive no economic benefit as counselors, so we have no ax to grind,” Bill said. 

Dick and Bill are quick to point out the benefits of working with SCORE.  “We have tangible evidence that SCORE has helped to create jobs and improve businesses in Western PA.  As mentors, we recognize that what our clients need more than anything is an unbiased, objective sounding board; that is the role that we are happy to fulfill.  We are happier still when we can help them celebrate their success.”

The success that HRV has enjoyed has garnered significant recognition, awards and accolades.  Her SCORE counselor, Bill Mariotti, nominated her for 2012 Ernst & Young Entrepreneur of the Year Award. 

Bill explains why he chose to nominate HRV for this prestigious award, “HRV fit the profile.  The firm grew every year in all facets that could be measured: revenue, personnel, etc.  They have a great opportunity to compete on the National level and share the stage in November with the likes of LinkedIn.”    In addition to the E&Y Award, HRV has been recognized by the Pittsburgh Business Times as one of the fastest growing companies in the area every year since 2007.  Ms. Stachel was also recognized as one of the top 10 CEO’s in Pittsburgh and was awarded the Pittsburgh Business Times’ Diamond Award.  The Pittsburgh Airport Area Chamber of Commerce honored HRV with a Small Business Excellence Award.

About SCORE

SCORE is a business counseling/mentoring organization. SCORE provides free counseling, resources and advice to people who are in business or want to start a business. SCORE also provides free or low cost Workshops on Business Topics.  Volunteer counselors are experienced owners or managers of businesses that volunteer their time to help small businesses succeed.  www.pittsburgh.score.org

 

About HRV Conformance Verification Associates, Inc.

HRV, established in 2003, has become a recognized leader in the construction management and materials and construction inspection industry.  From its inception, HRV has expanded its services, serving various industries in the private and public sectors including: the bridge and highway, water and wastewater, rail, power and commercial construction.  Building a corporate foundation based on a passionate commitment to quality service and employee excellence, HRV strives to have each and every client trust that when they turn their projects over to HRV, they can be assured that the work will be performed by qualified individuals and at a level that exceeds their expectations.   HRV’s mission is to become an eminent leader in the construction management and quality assurance, quality control industry through proven excellence, commitment to clients and employees, and use of technologies.

HRV is a certified WBE/DBE and their corporate office is located in Pittsburgh, PA.  www.hrvinc.com

About the Ernst & Young Entrepreneur of the Year Program

The Entrepreneur of the Year Program honors entrepreneurs regionally in June, leading up to the national awards in November. The US Entrepreneur of the Year Overall Award winner then moves on to compete for the World Entrepreneur of the Year Award.

Now in its 26th year, the Entrepreneur of the Year Program has expanded to recognize business leaders in more than 140 cities in more than 50 countries throughout the world. Awards are given to entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities.

 

AwareManager

Owner/Founder
Russell Mucklow
My Location
50 Congress Street
Boston MA 02109
United States
How SCORE Helped

As our organization has grown, we felt that it was necessary to create a mentoring program for our younger sales associates.  We turned to SCORE and not only has it helped to re-energized our staff, we have obtained a valuable objective resource; one that has help us to better understand our challenges and improve morale.
 

Information on bonding, insurance, and intellectual property (copyrights, trademarks, patents).  Links to sources for accountants, lawyers, insurers, bankers, website designers, and trade groups.

  

 

MoodysBiz.com: Credit Insights for Small Businesses

Summary

Join us as MoodysBiz.com provides information on the latest trends in business credit.  Hear from the Moody’s management team as they discuss what lenders look at when extending credit, trends in lending to small and medium sized businesses, and a free credit assessment tool you can use to understand your credit risk.

Presenters:  Joseph Enea, Douglas W. Dwyer and Mehna Raissi of Moody's Analytics
Duration: 1 Hour
Host: SCORE Association

 

Visa® Small Business Spend Insights monitors the economic confidence of U.S. small business owners
by analyzing Visa Business card spend data and responses to a quarterly survey. Small businesses and
those serving them can benefit from the trends and insights obtained from Visa’s proprietary research.

Record shifts in key categories highlight mixed responses

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