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FDIC and SBA Enhance its Money Smart for Small Business Training for Entrepreneurs

The Federal Deposit Insurance Corporation (FDIC) and SBA have enhanced its Money Smart for Small Business training resource, an instructor-led curriculum designed to provide introductory training for new and aspiring business owners.

The Money Smart for Small Business training curriculum has been improved to better meet the financial management needs of entrepreneurs by giving practical guidance for starting and managing a small business. The free curriculum — available on the SBA website — was jointly developed by the FDIC and SBA in 2012, and has been expanded to include three new modules focusing on managing cash flow, planning for a healthy business, and helping to determine if owning a business is a good fit.

Money Smart is designed to be delivered by intermediary organizations to new or existing business owners —with or without formal business training—to provide real-world guidance on all aspects of starting and managing a small business. In addition, a Train-the-Trainer curriculum has been developed to help organizations train instructors to deliver the training modules.

The training curriculum is an easy-to-follow structured program that covers 13 key areas of finance needed to organize any business.

Here are 5 ways you can benefit from Money Smart:

  1. It’s no cost
  2. Anyone can download the training curriculum, but CD’s are also available on request
  3. It’s adaptable and can be used as part of business coaching or training
  4. There are no requirements or certifications needed to use; but eligible organizations adopting it are encouraged to join the Money Smart Alliance
  5. It’s available for download in both English and Spanish

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. The training modules can be taught in any order or independently and typically run 60–90 minutes. It comes ready to use out-of-the-box, and includes a fully scripted instructor guide, participant guide and slides.

While the training is not intended for use by individual entrepreneurs on their own, the Money Smart curriculum is ideal for use by organizations such as bankers, credit counselors, business consultants, incubators, economic development agencies, faith-based and similar organizations that teach entrepreneurs and small business owners. Small business training is also provided by SBA Resource Partners, which include SCORE, the Women’s Business Centers and the Small Business Development Centers.

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

Published: November 15, 2016

By Tameka Montgomery, SBA Official

About the Author:

Tameka Montgomery

Tameka Montgomery

SBA Official
In her role as the Agency’s Associate Administrator for the Office of Entrepreneurial Development, Tameka Montgomery is responsible for overseeing the agency’s counseling and training resources and programs for America’s entrepreneurs

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