FDIC Highlights Resources on Banking for Small Businesses During National Small Business Week
May 6, 2016
Julianne Fisher Breitbeil
The Federal Deposit Insurance Corporation (FDIC) today highlighted the agency's resources to help small businesses get the most from their banking relationships. The information is being emphasized to coincide with National Small Business Week, May 1-7.
Small businesses employ roughly half of all Americans and account for more than 60 percent of net new jobs, according to the U.S. Small Business Administration (SBA). Their ability to generate new jobs depends, in large part, on access to credit and other banking services.
FDIC provides Money Smart for Small Business (MSSB), a practical introduction to topics related to starting and managing a business, as a free educational tool. Developed jointly by the FDIC and the SBA, this instructor-led curriculum consists of 13 modules.
In addition, the following articles from the agency's quarterly newsletter FDIC Consumer News offer strategies to help entrepreneurs and other small business owners and managers avoid fraud or scams and find solid financial options that work for them and their growing companies:
- Banking Tips for Small Businesses: A Checklist for Entrepreneurs
- Paying for Everyday Expenses: Understand the Rules
- The Basics of Accepting Money from the Public
- Deposit Options for Small Businesses
- Frauds Target Small Businesses: Don't Be a Victim
- Common Questions to the FDIC from Small Businesses
- More Help for Small Businesses
- FDIC/SBA Financial Education Curriculum for Small Businesses is Updated and Expanded
For more information on National Small Business Week, visit the Small Business Administration's website.
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's banks and savings associations, 6,182 as of December 31, 2015. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars—insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-37-2016