Brooklyn Chapter Member Speaks at Women’s Business Program

Brooklyn Chapter Member Speaks at Women’s Business Program

Brooklyn Chapter member Myrna Fischman spoke at the Brooklyn Women’s Business Program held at Long Island University on Saturday, March 19.

The program, which is affiliated with the Local Development Corporation of East New York, covered everything from patents and trademarks to incorporations. The program was attended by more than 100 women.

Fischman, a professor of accounting and taxation at Long Island University, said that the advice she often gives to those who want to start their own business is to establish a clear business plan.

“One of the first things we say to them is to make sure they set up a separate checking account,” Fischman said. “Do not mix their personal funds with their business funds...The other important point is to make sure they get an employer identification number from the IRS.” Fischman added that one of the biggest mistakes first-time business owners make is to underestimate expenses and miscalculate their potential revenue.

Fischman also said that it’s important to learn about the type of business one wants to enter into.

Also in attendance at the program were representatives from the Small Business Administration and the Service Corps of Retired Executives.

“They really did cover a wide range of things,” Fischman said. “It really was a valuable seminar and conference.”