President Barack Obama recently proclaimed April National Financial Capability Month. Recognizing the importance of financial planning in achieving the American Dream, this month calls on individuals to empower themselves by seeking knowledge and tools for strong financial capability.
In today's world economy, financial capability is vital to entrepreneurs and small business owners trying to start, grow, and succeed in the marketplace. Whether your target market is global or your local neighborhood, SBA’s network of Small Business Development Centers, Women’s Business Centers, and SCORE chapters can help at every stage of turning your entrepreneurial dream into a booming business. Additionally, SBA’s Online Learning Center offers free online courses to help you brush up on your business skills.
I personally believe that financial capability encourages financial stability for individuals, families, and communities. The more small business owners know about business credit and loans, the more likely they are to succeed in securing their next loan to start or grow their business. If you want to start a business or learn how to better manage your business finances, begin with Money Smart. SBA and FDIC collaborated to provide an instructor-led business training program, Money Smart for Small Business, for free. This program is designed to provide introductory-style training for new and aspiring entrepreneurs. The 10 modules provide the most essential information on running a small business from a financial standpoint.
So far, more than 1,300 copies of the Money Smart for Small Business course have been ordered and more than 50 Small Business Training Alliance members have used the course. It’s been an invaluable tool for small businesses looking to improve their financial capability and education. Small business owners, those without formal business training, financial institutions, small business assistance centers, city and county economic development offices, faith-based organizations and others have found the program greatly beneficial.
For free resources on money management and on making the best financial decisions for you, visit www.MyMoney.gov or call 1-888-MyMoney.