Financial Health Checklist for Main Street Businesses

Welcome to the Financial Health Checklist for Main Street Businesses! This quick and easy-to-complete checklist is designed to help you assess the overall financial health of your business, covering key areas like cash flow, profitability, and long-term financial planning.

The checklist should take around 4 minutes to complete. Once finished, you’ll receive personalized insights based on your results, along with actionable next steps to improve your financial health.

Let’s get started and take the first step toward greater financial clarity and long-term success!

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* 1. What is your business's annual revenue

Less than $99,000

$100,000 - $499,999

$500,000 - $2,499,999

$2,500,000 - $4,999,999

Greater than $5,000,000

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* 2. What type of business do you operate?

Professional Services

Retail

Automotive Services

Health & Wellness

Home & Property Services

Other (please specify)

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* 3. How long has your business been in operation?

Less than 1 year

1 - 3 years

3 - 5 years

5 - 10 years

Greater than 10 years

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* 4. How many employees does your business have?

1 - 5 employees

6 - 10 employees

11 - 20 employees

Over 20 employees

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* 5. What is the biggest financial challenge your business is currently facing?

Cash Flow Management

Profitability

Financial Planning & Forecasting

Tax Readiness

Exit Planning or Succession

Other (please specify)

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* 6. Do you have a cash flow forecast in place for the next 3-6 months?

Yes

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* 7. Can your business cover all of its short-term liabilities (e.g., accounts payable, loan payments)?

Yes

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* 8. Do you regularly track cash inflows and outflows on a monthly basis?

Yes

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* 9. Do you maintain positive cash flow month-to-month?

Yes

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* 10. Have you reviewed and optimized your pricing in the last 12 months?

Yes

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* 11. Are your expenses reviewed regularly for cost-saving opportunities?

Yes

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* 12. Do you monitor your profit margins and adjust business strategies accordingly?

Yes

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* 13. Has your business grown profitably year-over-year?

Yes

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* 14. Are your current assets sufficient to cover your current liabilities (i.e., positive working capital)?

Yes

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* 15. Do you review your balance sheet regularly to assess liquidity and solvency?

Yes

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* 16. Is your debt-to-equity ratio healthy and within industry standards?

Yes

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* 17. Have you invested in long-term assets (e.g., property, equipment) to support business growth?

Yes

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* 18. Is your financial reporting organized and up-to-date?

Yes

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* 19. Are you confident in interpreting your financial statements to make strategic decisions?

Yes

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* 20. Do you prepare financial reports at least once a month?

Yes

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* 21. Is your financial reporting structured in a way that helps you make forward-looking decisions?

Yes

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* 22. Do you have a strategic financial plan for the next 1-3 years?

Yes

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* 23. Are your long-term goals aligned with your current financial strategies?

Yes

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* 24. Have you considered major business transitions (e.g., scaling, selling, succession planning)?

Yes

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* 25. Do you have a contingency plan for financial downturns or unexpected disruptions?

Yes

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* 26. Are your financial records organized and ready for tax filing?

Yes

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* 27. Do you work with a tax professional or CPA to ensure compliance?

Yes

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* 28. Have you identified and utilized all potential tax deductions and credits?

Yes

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* 29. Do you track deductible expenses throughout the year?

Yes

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* 30. Do you feel in control of your business’s financial situation?

Yes

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* 31. Are you proactive in addressing financial challenges?

Yes

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* 32. Do you have a clear vision for your business's future and personal goals?

Yes

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* 33. Do you regularly seek outside expertise to improve your financial management?

Yes

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* 34. Are you familiar with the industry benchmarks for your business (e.g., profit margins, operating expenses)?

Yes

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* 35. Do you track your performance against industry standards regularly?

Yes

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* 36. Have you identified areas where your business lags behind industry standards?

Yes

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* 37. Do you actively seek opportunities to improve and match top performers in your industry?

Yes

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* 38. Thank you for completing the Financial Health Checklist! Based on your responses, we'll provide insights and next steps to improve your business's financial health.