April is Financial Literacy Month, a time for entrepreneurs to brush up on their knowledge of sound financial practices including budgeting, saving, borrowing, investing, and more. Education is key to understanding how financial decisions impact the health of you and your business and will help you create a solid foundation that will pay off not only in the short term, but also in the long run.
Whether you’re a seasoned professional or just starting to understand the importance of financial literacy to your business, the following SBA resources are a good place to continue your journey:
- SBA Business Guide: The SBA’s business guide is your blueprint for planning, launching, and growing your business. It can also provide guidance on managing day-to-day operations, such as those associated with finances. Learn about balance sheets and cost-benefit analysis, methods of accounting, and more.
- SBA Learning Platform: A variety of small business topics, including finance, are covered on the SBA’s Learning Platform. Take the online Financing Your Business course, for example. This objective-based course walks you through startup costs, loans, grants, and more. There is also Money Smart for Small Business, a curriculum designed in partnership with the Federal Deposit Insurance Corporation (FDIC).
- SBA Resource Partners: If you’re after a more personalized experience, an SBA resource partner can provide low- or no-cost services. A SCORE mentor, for instance, can help you better understand your financial statements. Additionally, SBA resource partners can advise you on how to access capital, among other things.
Knowledge is power, and that is why financial literacy is so important. The SBA looks forward to helping you develop good money management habits and skills that will ensure long-term sustainability and drive growth. Learn more at sba.gov.