To support local business owners and their teams, Coastal offers complimentary Money Smart for Small Business courses designed to help those starting and managing a business. Money Smart was developed jointly by the Federal Deposit Insurance Corporation (FDIC) and the U.S. Small Business Administration (SBA).
“We regularly ask our customers and local businesses how we can help them, and they told us,” said Koren Smith, SVP Regional Manager/Retail Innovation Manager. “Some businesses ask for improved financial understanding, and some want help training their team members with financial topics. We’re providing these classes to support local businesses during a challenging economic time.”
The courses are being held in person at Coastal Community Bank’s Administrative office on Evergreen Way in Everett. Katy Woods, a Licensed Coach, Branch Manager, and experienced Banker, will provide the class curriculum.
“Customers and local businesses regularly ask me about building credit, managing cash flow, business succession planning, and financial management,” Woods said. “I’m excited to offer local businesses these topics more formally and help businesses fight to win, especially during what many expect to be a challenging year for them. As bankers, we’re invested in local businesses, they are our neighbors, and our kids go to school together. Naturally, we want to do everything we can to support them. These courses are designed for just that.”
Money Smart for Small Business classes are held at the Coastal Community Bank Evergreen Way office (5415 Evergreen Way), the third Wednesday of each month from 8-9:30 a.m., February through October. They are provided at no cost to attendees. Topics cover; Taxes and Reporting, Building Credit, Financial Management, Managing Cash Flow, Record Keeping, Risk Management, Insurance, Selling Your Business and Succession Planning, and Time Management. Attendees can register for individual classes online on the Coastal Business Portal. Space is limited to 40 attendees per class.
“We’re hosting the classes in person, so business professionals can meet other business professionals learning the same thing and learn from each other,” Woods said. “When business owners and leaders get together, a lot of learning and growth happens.”
The first class, ‘Tax Planning and Reporting,’ is Wednesday, February 22, from 8-9:30 a.m. After completing the class, attendees will be able to:
- Identify the federal tax reporting requirements of a small business and its owner, and establish a plan to account for and pay for federal taxes.
- Identify the general state/local tax reporting requirements of a small business, and establish a plan to account for and pay for state/local taxes.
- Identify methods for researching the local, municipal, and county reporting/licensing requirements for a small business.
To Register for this or future classes, visit the Coastal Business Portal.
Katy Woods is a VP, Branch Manager at Coastal Community Bank. To register for a class, visit the Events section of the Local Business Portal https://www.coastalbank.com/local. For more information, contact Woods, or a banker at one of Coastal’s 14 local branches. www.coastalbank.com Member FDIC. Equal Housing Lender