When Patricia Rencher was caring for her aging parents, she discovered first-hand how little information was available to help people make competent decisions for their older loved ones. She decided to help remedy that problem by launching Urban Aging News, a free quarterly publication dedicated to helping metro Detroit families get the resources they need for a better caregiving and aging experience.
While Rencher had the experience and expertise to create a top-tier publication, she benefited from the assistance provided by the Accounting Aid Academy’s THRIVE program. Offered to a select number of small business owners who have progressed through the Academy’s other services, THRIVE focuses on the next steps in the business journey, providing financial statement evaluation and support on business decisions.
Rencher came to the Academy because, “I had a handle on the editorial, informational, and creative side of Urban Aging News, but not so much the business side. I needed this education.”
THRIVE helped Rencher earn a Minority Business Enterprise certification, which helped her business grow. “You submit…a long list of items to verify that you are a sound business and will be able to handle contracts,” Rencher said. “Prior to entering THRIVE, I would not have had ANY of the financial documents they requested.”
THRIVE helped Rencher gain “immeasurable financial literacy,” she says. “I learned monthly habits. I learned to utilize Quickbooks and generate reports. The monthly trainings and the one-on-one sessions with the accountant were not only insightful — and sometimes hard to hear — they provided realistic advice and education on how to grow one’s business.”