Building a Winning Finance/Accounting Team

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Without the right financial professionals, companies can struggle needlessly. Many good businesses go through tough times, and even go out of business, because cash flow wasn’t properly projected and managed. Business owners who don’t have the proper support and assistance when they review financial results are unable to see if any operational changes would help. A savvy controller or chief financial officer can help you decide if changes in pricing, product line, capacity or sales channels make your business more profitable. This article by David Rudofsky, from the May/June 2006 issue of “New York Enterprise Report” gives advice on how to build a winning finance/accounting team.

Wharton Panel Debates India vs. China

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A panel of Wharton faculty and experts in emerging markets private equity recently debated the relative advantage of private equity investment in India vs. China. India has solid underpinnings for economic growth, including a democratic government, a strong education system, widespread knowledge of English and a deep pool of expatriates experienced in Western businesses, according to the panelilsts. Wharton Professor Jeremy Siegel suggested that India’s “soft” attributes, such as a democratic government and a free press that is rooting out corruption, outweigh China’s more impressive investments in “hard” infrastructure such ports, plants, and transportation systems. Siegel is also concerned about China’s system of “guanxi” in which business is conducted more through elaborate networks of relationships than on merit.

Small Business Administration Looking to cut Microloan Program

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For the third year in a row, the Small Business Administration (SBA) is looking to cut its microloan program, and once again the Senate and House are lining up against it, the “Wall Street Journal,” reports. The Microloan program provides funding to nonprofit community-based lenders who, in turn, lend and provide technical assistance to small-businesses. The SBA contends that microlans can be done more efficiently through its existing 7(a) loan program, while critics contend that most individuals who apply for microloans lack the credit scores needed to qualify for the 7(a) loan program.

NPR Sunday Puzzle

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Weekend Edition Sunday, March 26, 2006 Puzzle master Will Shortz quizzes one of our listeners, and has a challenge for everyone at home.

Challenge from March 26: From David Rudofsky of Sleepy Hollow, New York:

Take the name of a geographical area in the New World (in the western hemisphere). It’s popular with tourists, and has seven letters in its name, one of which is an “A.” Change that “A” to an “S” and rearrange the result to name a geographical area in the Old World, also popular with tourists. What places are these?

Startups May Face a Capital Gap

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The probability of a venture capital firm investing in a start-up business now is far less than it would have been in 1999, reports “INC.” Magazine. Ironically, this is partly due to the glut of capital available that venture capital funds are trying to invest, which is pushing them to do bigger deals, sums of $10 million and up that the typical start-up cannot absorb. Jeffrey Sohl of the
Center for Venture Research at the University of New Hampshire calls this “the capital gap.”