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Money Smart - A Financial Education Program

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Money Smart for Small Business

The Modules: Money Smart for Small Business

Money Smart for Small Business consists of 10 modules, each with an instructor guide, participant guide and PowerPoint slides.  Each module can be taught in approximately one hour.  The modules present an introduction to these topics, providing an overview, basic concepts and key points. 

Organization Types
pros and cons of business structures


After completing this module, the participants will become familiar with the common types of business formations, including:
  • Sole Proprietorship
  • Partnership
  • Limited Liability Company (LLC)
  • C-corporation
  • S-corporation

Time Management
tips to make you more efficient


After completing this module, the participants will be able to:
  • Improve their time management skills.
  • Apply some common time management practices, such as:
    • ABC Analysis
    • Pareto Analysis
    • Eisenhower Method
    • POSEC Method

Financial Management
understanding this critical practice


After completing this module, the participants will be able to:
  • Understand the essentials of financial management.
  • Apply financial management practices, rules, and tools most relevant for small businesses.
  • Prepare for common business financing needs: start-up finance, working capital, and fixed asset loans.

Recordkeeping
as a managerial tool


After completing this module, the participants will be able to:
  • Improve their overall recordkeeping practices.
  • Apply tricks and tools relevant to their business.
  • Choose among various software to support their recordkeeping.

Banking Services
designed for small businesses


After completing this module, the participants will be able to:
  • Recognize the most common banking services for small businesses, including merchant services, payroll processing, business credit and others.
  • Understand how other small business owners decide which banking services to use.
  • Evaluate the applicability of each of banking service to their business needs.

Credit Reporting
demystified


After completing this module, the participants will be able to:
  • Understand how credit reports are used in the underwriting of business loans.
  • Apply common business practices and tools to help in proper credit reporting.
  • Develop strategies to build or improve their business’ credit.
  • Protect themselves from credit-related scams and know what to do if their business becomes a victim.

Risk Management
planning for what you can and cannot control


After completing this module, the participants will be able to:
  • Understand the external and internal factors which affect risk for a small business.
  • Recognize the common warning signs of risk for a small business.
  • Implement, monitor, and evaluate a risk management plan for their business.

Insurance
choices for businesses


After completing this module, the participants will be able to:
  • Understand their business’ insurance needs.
  • Choose the insurance products that are best for their business.

Tax Planning
and Reporting


After completing this module, the participants will be able to:
  • Predict their businesses’ federal, state and local tax liabilities.
  • Prepare for tax obligations and establish proper accounts.
  • Obtain the proper licenses for their business and meet reporting requirements.

Selling Your Business
and Succession Planning


After completing this module, the participants will be able to:
  • Incorporate life-cycle issues into their management planning.
  • Decide the best option for them to exit their business.
  • Prepare for retirement.


Last Updated 4/24/2012 CommunityAffairs@fdic.gov