New York City, NY, July 18, 2017 (Newswire.com) - America has been at the center of a small business revolution over the previous few decades. With an ever increasing amount of people disillusioned with the corporate rigmarole, entrepreneurship has been booming. Statistics released by Forbes in 2013 report that there are over 28 million small businesses in the country while another 22 million people are self-employed. This has resulted in over 120 million people working for small businesses, which accounts for over 50% of the total working population. Although these small businesses remain optimistic about a strong future, studies and surveys have indicated that most of them share one common fear: a lack of know-how of the best industry standard accounting practices.
Since over 98% of the small business owners employ fewer than 20 employees due to budgetary constraints, they often prioritize hiring workers to make their operations better and more efficient over hiring accountants to help with better managing their resources. Frank Dinucci, a former Ivy League accounting professor who is well respected within the accounting community, believes that the entire idea and value of a good accountant is lost on many from the young generation. “I actually did a lot of case studies with my students pertinent to this issue. A lot of young entrepreneurs feel that it’s a job they can do additionally on top of whatever other duties they perform, without really going through proper academic and job training. The result is a lack of efficiency in running their small business, which doesn’t really realize its true growth potential.”
"There is a lot more to accounting than just debit and credit, general ledger entries. This is a comprehensive and complex subject area that with proper knowledge can be used to gain insight that helps to make the best business decisions from a managerial perspective. You can use it to restructure your business' debt profile, provide financial reports and statements to potential investors for more capital, or you can even use it to avoid taking on debt and freeing tied up money by manipulating the terms of your accounts payable and accounts receivable."
Frank Dinucci, therefore, came up with a unique idea to put his teaching skills to great use: he routinely conducts free workshops, seminars, and classes for the small business owners of Chicago, in order to teach them important accounting skills, techniques, and relevant tools that can empower them to run their businesses more shrewdly and save more money.
“There is a lot more to accounting than just debit and credit, general ledger entries. This is a comprehensive and complex subject area that with proper knowledge can be used to gain insight that helps to make the best business decisions from a managerial perspective. You can use it to restructure your business’ debt profile, provide financial reports and statements to potential investors for more capital, or you can even use it to avoid taking on debt and freeing tied up money by manipulating the terms of your accounts payable and accounts receivable."
It provides you with ways to implement a strategy and a vision for your business, and consequently tailor all business related operations and plans to best fit that goal. It lets you monitor and compare the running of your business with others in the industry so you can tweak and change things as you see fit. These young entrepreneurs are truly chasing the American dream while remaining self-sufficient, and those of us who can be of any assistance to them should help wholeheartedly. My workshops are free of cost and are held for two hours every Saturday and Sunday morning. Being in a class with other small business owners from the local community also helps form a tight knit bond between them. They interact with each other and pick up valuable tricks from each other. It helps foster a friendship that is beneficial to everyone.”
Cassandra Marsh is the owner of a local Mom and Pop bakery store in Chicago and has benefited from attending Frank Dinucci’s workshops. “First of all, it’s a relief to see people willing to help out local businesses for a change. While we just can’t compete with most of these big chains because of economies of scale, we provide a much more personal, better and satisfying experience. I never went to college so I have had no accounting experience under my belt, but Prof. Dinucci really made it easy and enjoyable to understand. I found it so fascinating that I’m currently taking an online course to further my knowledge so I can make sound decisions regarding my business.
I have already figured out a few tweaks that have saved me a decent amount of money. All those financial ratios, formulas and graphs have given me great returns! I’m in a much better position to do my taxes and my training has also equipped me with the tools to handle legal disputes properly so I can save my business from any potential harm.” Marsh is just one of the many small business owners from Chicago who vouch for Dinucci’s workshops. In a world where it is extremely easy to get caught up in your own life and interests, it is refreshing to see people putting others ahead of themselves. We can all take a leaf out of Dinucci’s book and help the people around us get closer to realizing their dreams.
Press Contact: Eric Blankenship 786-332-6554
Source: Frank Dinucci
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