On Wednesday, September 1st the Inland Empire Regional Chamber of Commerce (IERCC) held a Cashflow Conference at the Jessie Turner Community and Conference Center in the City of Fontana. The event sold out as several Inland Empire business owners, nonprofit organizers, and government agencies attended the conference. Social distancing was encouraged.
Some of the topics covered were understanding the value of cash flow, missed opportunities due to several factors, and how something like a lack of compliance on the industry side as well as on the governmental side can negatively affect cash flow.
Several bankers present at the conference shared how banking practices have changed during the COVID-19 crisis. Information was shared as to how important it is to know your banker and to establish a good line of credit. One good takeaway from the seminar was to have your business prepared before a financial incident occurs. An analogy was made to preparing for a major disaster. Prepare and have a plan to survive a major financial catastrophe (which could also happen after a disaster like a fire or an earthquake).
Edward Ornelas, Jr., Conference Organizer and President & CEO of the IERCC, encouraged networking among the participants and vendors. The IERCC website says that its mission is to “support and contribute to the interests of commerce & economic prosperity throughout Riverside County & San Bernardino County.”