The Team

The team at the Small Business Package is comprised of business consulting professionals, bookkeepers, CPA’s and business lawyers.

Brian A. Cain is the founding principle of The Small Business Package and he has over 10 years of experience in the tax, legal and financial fields.  As an attorney Brian specializes in working with small business owners on their tax and legal matters.

Will the SBP really add more money to my bottom line?

This is a real story about one of our Member's business:

They came to us to help solve an issue they were having with their bookkeeping. This is a company that has been growing steadily for the last few years. Rather than doing the books themselves the owners had a terrific employee who had been with them since the start of their business and had a good understanding of the day-to-day operations. They approached their employee and asked them if they would be willing to take over the bookkeeping responsibilities for them. It turns out the employee had a little background in this and they were willing to give it a go. It was a promotion with additional money for the employee and it freed up the owners to focus more on their business. It looked like a win/win for everyone.  Before long, the books were up to date with all the transactions being entered and with the owners free time they were able to focus on growing their client base.  

Their hard work paid off. They had landed a new contract worth over $200,000 in revenue.  In order to service the new client they needed a bank loan to hire new staff and purchase additional equipment.

As expected, the bank asked for current financial statements of the business.  Before long the bank called them with the news. They had been denied. Imagine the shock to the business owners who thought that everything looked good and that the loan would be a piece of cake. When inquiring about the denial of their loan the bank informed them that while most of their financials looked good the amount of equity in their business was very low by industry comparison. The business owners were certain that the amount of equity in their business was higher than what the financial statements portrayed. They went back to their employee who was doing their books and did some digging. It turns out that a number of transactions were not categorized correctly and the effect was that the businesses equity was not shown correctly on their financial statements. 

The professional team at the Small Business Package came in and cleaned up the bookkeeping problem and explained everything to the bank allowing them to secure their loan and close on the new client.