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This four-part workshop series is designed to empower entrepreneurs and small business owners with a foundational understanding of their company's finances. Each session builds logically on the last, taking participants from understanding individual costs to creating a complete Profit & Loss Statement. By the end of this program, attendees will have the knowledge and tools needed to make smarter, data-driven decisions for their business.

 

Session 3: The Profit and Loss Statement

 

This capstone session brings everything together. Participants will use the information gathered in the previous three workshops to create one of the most important financial documents for any business.

 

What It Covers:

• Understanding the P&L Statement: Defining the P&L as a summary of revenues, costs, and expenses over a specific period.
• Profit vs. Income: Clarifying the difference between "gross revenue" (income) and "net revenue" (profit).
• Building Your P&L: Participants will walk through a template, inputting their total income and the expense figures they calculated in sessions 1, 2, and 3 (Cost of Labor, COGS, Operational Expenses).
• Analyzing the Results: The final step is calculating the bottom line—the business's total profit or loss—and understanding how to use this information to make strategic decisions.

 

How It Builds: This session is the culmination of the entire series. It takes the outputs from the first three workshops and logically assembles them into a comprehensive financial statement, giving the business owner a clear and accurate snapshot of their company's financial performance.

 

Progressive Learning Structure: Each session provides essential components for the next, culminating in a comprehensive financial statement that gives business owners a clear and accurate snapshot of their company's financial performance.

 

Who Should Attend:

• Entrepreneurs and small business owners seeking financial literacy
• Startup founders preparing for investor discussions
• Anyone responsible for business financial decision-making
• Teams developing financial projections and business plans
• Business owners wanting to make data-driven strategic decisions
  
  

 

About the Organization 

The Greater Englewood Chamber of Commerce promotes the welfare and vitality of the business and civic community through community, connection, education, and advocacy. The organization values collaboration, believing more can be accomplished when individuals and groups combine their strengths. They are committed to building a diverse, inclusive, and equitable community while practicing transparency and generosity in sharing resources and power. The Chamber recognizes their responsibility to respect and protect community interests and resources through effective stewardship.

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