New Money Smart aims
to help small businesses

The Federal Deposit Insurance Corp. and U.S. Small Business Administration have announced new resources to support small businesses across the nation, releasing Money Smart for Small Business, a training curriculum for new and aspiring business owners.

Developed in partnership between both agencies, this curriculum is the latest offering in the FDIC’s award-winning Money Smart program.

Money Smart for Small Business provides an introduction to day-to-day business organization and planning and is written for entrepreneurs with limited or no prior formal business training. It offers practical information that can be applied immediately, while also preparing participants for more advanced training. FDIC and SBA will form a training alliance for organizations that support small businesses through training, technical assistance or mentoring.

SBA Administrator Karen Mills said Money Smart for Small Business "will help to put more information on the business basics of financial management at entrepreneurs’ fingertips and make it easier for them to build their knowledge and skill set."

Each of the 10 instructor-led modules in the program provide financial and business management for business owners and includes a scripted instructor guide, participant guide and overhead slides. The FDIC will host an online town hall for potential Training Alliance partners in the months ahead.

More than 10 years after the original release of the curriculum, Money Smart for Small Business builds on the results in finance management for those who complete the curriculum. The curriculum is free and available at www.fdic.gov/consumers/consumer/moneysmart/index.html.