Cash-flow management, tax laws and retirement planning dominated the discussion among small business owners and local lenders Tuesday at the Bowling Green Area Chamber of Commerce.

With the goal to help nonprofits and small businesses network, gain resources and build relationships, the chamber launched training sessions through its new Strategic Business Alliance, which is an initiative of the chamber’s Workforce Development Committee, according to chamber communications coordinator Jessica Thompson.

Presenters included Tammy Clark, AIG retirement financial adviser for the Great Lakes Region, Larry C. Howlett, certified public accountant and exempt organizations consultant, and Brad Howard, president of South Central Bank.

Tim Goss, account executive for Charlie M. Moore Insurance Agency, moderated the session, telling attendees, “I want you to grow your business and thrive here in Bowling Green.”

Howard said banks look at financial statements – which give a snapshot of how the business has been operating – to determine if a business should be granted a loan.

For most small businesses, understanding the cash-flow cycle is critical for survival and being successful when seeking financing from banks.

But often, small business owners are busy wearing too many hats and sometimes they neglect attention to accounts receivable transactions – which track money owed for unpaid invoices, services or products. As a result, there can be timing differences between when money is paid out to generate revenue and when the money is collected for those services or products, causing a business to be cash-strapped.

Here are some ways to avoid cash flow problems, according to Howard:

• Manage the accounts receivable;

• Try to find terms with suppliers to shrink timing differences and save on borrowing funds elsewhere;

• Understand inventory levels and know the turnover rate;

• Give customers incentives to pay early; charge interest for delayed or late payments.

Alexander Stall left the chamber with knowledge that he said could help the business he works for.

Stall, director of communication and internal services for Dynastrosi Laboratories on Nashville Road, said every aspect of the training was a benefit, whether it was learning about cash flow or setting up retirement plans for employees.

“For us, it could be a good recruiting tool if we could get a retirement plan set up,” Stall said

One of the biggest problems for a new company is getting money for services provided, Stall said.

“It’s a lot easier when you’re a large company and you have lots of accounts to fall back on – a small business doesn’t have that,” Stall said.

— For more information about future training sessions from the chamber’s Strategic Business Alliance, call the Bowling Green Area Chamber of Commerce at 781-3200.