Free Training Resources on Financial Management Available to Small Business Owners

Free Training Resources on Financial Management Available to Small Business Owners

By CeceliaT, SBA Official
Published: May 31, 2012 Updated: May 31, 2012

Are you looking for financial and business management tips and advice to help get your business off the ground? If so, there is a new tool to add to your small business tool belt. Money Smart for Small Business is a brand new training for new and aspiring business owners that introduces you to the day-to-day operations, organization and planning of a business from a financial standpoint.

Money Smart for Small Business, created with you – the entrepreneur – in mind, is an instructor-led financial education curriculum to help you with financial management to better operate your business. It was written for entrepreneurs who have no prior formal business training and offers practical information that can easily be put in place.

Why Money Smart for Small Business?

The Money Smart for Small Business training curriculum is an easy-to-follow structured program that covers 10 key areas of finance needed to organize any business. The 10 financial-related areas covered in the training are:

  • Insurance                                
  • Selling and Succession
  • Financial Management             
  • Organizational Types
  • Time Management                               
  • Tax Preparation
  • Banking                                               
  • Record Keeping
  • Risk Management                                
  • Credit Reporting

The training prepares you on the basics of financial management and lays a foundation for your ongoing training and technical assistance. It was developed mainly for new and aspiring entrepreneurs by the SBA and the FDIC, and is the latest in the FDIC’s Money Smart program.

The training gives you a full-range of business and financial resources, and gives you information about financial education programs provided by SBA and the FDIC to help strengthen and improve your ability to start, grow and compete in the global marketplace.

How does the Training Work?

Money Smart for Small Business starts with a core curriculum of the 10 modules that give you a first look at running a small business from a financial standpoint.  The modules can be taught in any order and are designed to give you the most necessary information in an hour-long period.  Each module has a scripted instructor guide, a participant manual and useful overhead slides that make it clear and easy to understand.

But the end of the training is just the beginning. Instructors are invited to consider organizing and hosting peer learning-type forums to give participating business owners the chance to meet regularly to support one another during their first year.

Also, instructors who lead the training curriculum will share their best practices, problem-solve common issues, and give their feedback to continuously improve the core of the training curriculum.

Is there Special Eligibility to Receive the Training?

Instructors who lead the trainings will likely find it helpful to have experience in conducting trainings, providing technical assistance or coaching small businesses. But no certifications are required to use or to order the training curriculum.

You should also know that the training is not intended for use by individual entrepreneurs on their own. Training on the Money Smart for Small Business program will be provided by a wide variety of organizations across the country such as financial institutions, small business incubators, city and county economic development offices, faith-based organizations, and similar organizations that teach workshops to entrepreneurs and small business owners.  Training will also be provided by SBA Resource Partners, which include SCORE, the Women’s Business Centers and the Small Business Development Centers.

How Can I Receive the Training?

Money Smart for Small Business can be ordered free of charge directly from the FDIC.

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The support given by the U.S. Small Business Administration to this activity does not constitute an express or implied endorsement of any cosponsor's or participant's opinions, products, or services. All SBA programs or cosponsored programs are extended to the public on a nondiscriminatory basis.

About the Author:

Cecelia Taylor

SBA Official

CeceliaT is a moderator for the SBA Community. We appreciate your participation and feedback on how we can continually improve the community to meet your small business needs.