With the end of the tax year fast approaching, it's a good time for small-business owners to brush up on the basics of financial record keeping.
Four nonprofit organizations will host a working breakfast for business owners from 7:15 to 9 a.m. Wednesday in room 300 of Bogue Hall on the CMC campus. Simplified record keeping for small businesses is the topic of the day.
"The key challenge for a small-business owner, and those thinking of starting a business, is finding and using a system that actually works," said Scott Ford, who runs the Small Business Development Center at Colorado Mountain College.
The other organizations hosting the "Success Steps Breakfast" series include the Steamboat Springs Economic Development Council, SCORE, counselors to small businesses and the business resource office of the Steamboat Springs Chamber Resort Association. The four organizations are devoted to fostering a culture of entrepreneurship in the Yampa Valley.
Ford said those in attendance will be given a manual record-keeping system that is sufficient for many small businesses.
"The system requires very little (of business owners)," Ford said. "You do not have to have a degree in accounting to understand it, and you can begin using it immediately. You don't need a computer -- a pencil and calculator is all you need to begin using this system. It takes the mystery out of record keeping."
Ford predicted the record-keeping system would save small-business owners hundreds of dollars in accounting fees, not to mention headaches at tax time.