News Release:

October 21, 2002

Entrepreneurs learn how to help their businesses survive

Edmonton, Alberta -During Small Business Week, ATB Financial is sponsoring a course to help entrepreneurs understand the difference between being profitable and being able to meet their day-to-day financial commitments.

Small businesses are an important part of Alberta's economy. According to Alberta Economic Development, in 2001 small businesses of less than 50 employees accounted for 99 per cent (247,554) of all businesses in Alberta.

"Businesses can demonstrate consistent growth and profit, but not have enough cash to meet their obligations," explains Richard Dobson, Director of Business Financial Services at ATB Financial. "You can have money tied up in inventory and receivables and not be able to get at it to pay bills. As a result, many entrepreneurs fail in their bid to run their own company, because, while they may have a great product or service, they can't pay their suppliers, staff or themselves."

Many of these businesses fail in the first three years of business, because they lack financial management expertise. New business owners often don't know how to monitor their financial position, manage their cash flow or manage growth and borrowing.

"The Real Cash Real Profit seminar demonstrates how to make a profit and have enough cash on hand to run your business," Dobson continues. "We are helping our customers understand the business of doing business."

On October 24, the half-day seminar will be offered in Edmonton in the morning and Calgary in the afternoon. For details on how to register, contact ATB Financial at 780-408-7300.

ATB Financial offers a full range of financial tools for small businesses, including customized financing designed to meet the needs of each unique business. In March 2001, the Canadian Federation of Independent Business recognized ATB Financial as the number one provider of financial services to small businesses in Alberta.

ATB Financial, an Alberta-based financial institution, was established in 1938. Today, ATB serves 240 communities through a network of 146 branches, 132 agencies, a Customer Contact Centre, 225 automated banking machines and electronic banking services. For further information on ATB Financial, visit www.atb.com.

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For further information please contact:

Richard Dobson
Director - Business Financial Services
ATB Financial
780-408-7627 or rdobson@atb.com

Darlene Dickinson
Vice-President, Public Affairs
ATB Financial
780-408-7307 or ddickinson@atb.com

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