Starting a Business
- Thinking About Starting a Business?
- Is Entrepreneurship For You?
- 20 Questions Before Starting
- 10 Steps to Starting a Business
- Understand Your Market
- Business Data & Statistics
- Business Types
- Nonprofit Organization
- Green Businesses
- Startups & High Growth Businesses
- Home-Based Businesses
- Online Businesses
- Franchise Businesses
- Buying Existing Businesses
- Self Employed & Independent Contractors
- Women-Owned Businesses
- Veteran-Owned Businesses
- Minority-Owned Businesses
- People with Disabilities
- Young Entrepreneurs
- Find a Mentor or Counselor
- Ask Questions About Starting a Business
- Create Your Business Plan
- Choose Your Business Structure
- Choose & Register Your Business
- Obtain Business Licenses & Permits
- Learn About Business Law & Regulations
- Advertising & Marketing Law
- Employment & Labor Law
- Finance Law
- Intellectual Property Law
- Online Business Law
- Privacy Law
- Environmental Regulations
- Regulation of Financial Contracts
- Workplace Safety & Health Law
- Foreign Workers & Employee Eligibility
- Contact a Government Agency
- Federal Compliance Contacts and Resources
- U.S. Army Corps of Engineers (USACE)
- Consumer Product Safety Commission (CPSC)
- U.S. Department of Agriculture (USDA)
- U.S. Department of Commerce
- U.S. Department of Defense (DOD)
- U.S. Department of Education
- U.S. Department of Energy
- U.S. Department of Health and Human Services (HHS)
- U.S. Department of Homeland Security
- Department of Housing and Urban Development (HUD)
- Department of Justice (DOJ)
- Department of Labor (DOL)
- Department of State (DOS)
- Department of Transportation (DOT)
- Department of Veterans Affairs (VA)
- Department of the Interior (DOI)
- Department of the Treasury
- Environmental Protection Agency (EPA)
- Equal Employment Opportunity Commission (EEOC)
- Export-Import Bank of the United States
- Federal Communications Commission
- Federal Deposit Insurance Corporation (FDIC)
- Federal Energy Regulatory Commission
- Federal Housing Finance Agency
- Federal Maritime Commission
- Federal Reserve Board
- Federal Trade Commission (FTC)
- General Services Administration (GSA)
- Institute of Museum and Library Services (IMLS)
- National Aeronautics and Space Administration (NASA)
- National Archives and Records Administration (NARA)
- National Credit Union Administration (NCUA)
- National Endowment for the Arts (NEA)
- National Labor Relations Board (NLRB)
- National Science Foundation (NSF)
- Nuclear Regulatory Commission
- Pension Benefit Guaranty Corporation (PBGC)
- U.S. Securities and Exchange Commission (SEC)
- Small Business Administration
- Social Security Administration
- Tennessee Valley Authority (TVA)
- U.S. Agency for International Development (USAID)
- Assistance with Regulatory Compliance
- Economic Development Agencies
- Federal Compliance Contacts and Resources
- Finance Your Business
- Explore Loans, Grants & Funding
- Filing & Paying Taxes
- Choose Your Location & Equipment
- Hire & Retain Employees
Is Your Business Fiscally Fit?
Financial Literacy and Education Commission
The Financial Literacy and Education Commission was established under Title V of the Fair and Accurate Credit Transactions (FACT) Act of 2003 to improve the financial literacy and education of persons in the United States. The U.S. Small Business Administration (SBA) wishes to bring financial literacy not only to America as a whole, but specifically to small businesses and future entrepreneurs. The commission was asked to develop a national financial education website (www.MyMoney.gov), along with a hotline (1-888-My Money) and a national strategy on financial education. It is chaired by the Secretary of the Treasury and comprises the heads of 21 federal entities, including SBA.
Money Smart for Small Business
If you want to start a business or learn how to better manage your business money, begin with Money Smart. SBA and FDIC jointly provide an instructor-led business training curriculum, Money Smart for Small Business, for free. This curriculum is designed to provide introductory-style training for new and aspiring entrepreneurs. The 10 modules provide the most essential information on running a small business from a financial standpoint. In addition to grounding participants in the basics, the curriculum serves as a foundation for more advanced training and technical assistance.
The 10 Training Modules: Money Smart for Small Business
Money Smart is focused on the 10 modules listed below depending on the interests and knowledge level of the targeted audience. Each module consist of an instructor guide, participant guide, and PowerPoint slides, and it can take approximately one hour to teach each module. If you interested in the Money Smart curriculum, please order here.
The 10 modules include:
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Banking Services
After completing this module, you will be able to:
- Identify the most common banking services for a small business, including business checking, payroll processing, business loan and others
- Evaluate your business and what banks have to offer to you
- Identify which banking services are the best for your business
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Organizational Types
After completing this module, you will be able to:
- Explain general characteristics, pros, and cons of these five common organizational types: Sole proprietor, Partnerships, Limited liability company(LLC), C-corporation and S-corporation
- Understanding what is the consideration when you decide your organization types
- Identify which organization types can benefit your business
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Time Management
After completing this module, you will be able to:
- Understand why time management is important to small business
- Apply some general time management practices, including: Pareto Analysis, ABC Method, Eisenhower method and POSEC method.
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Financial Management
After completing this module, you will be able to:
- Understand the concept of financial management and its importance
- Explain financial management practices, rules, and tools commonly available to small business
- Identify financing basics for small business, such as: start up financing, financing fixed asset, working capital
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Record Keeping
After completing this module, you will be able to:
- Explain record keeping basics- practices, rules, and tools
- Understand how and which records can benefit your business
- Identify software products relevant to business record keeping
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Credit Reporting
After completing this module, you will be able to:
- Understand the purpose for credit reporting and its benefits, risks, and responsibilities
- Explain how these credit reports works and Identify differences between business and consumer credit reports
- Understand how to improve your business’ credit.
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Risk Management
After completing this module, you will be able to:
- Identify the common risks relevant to a small business.
- Identify the common warning signs of risk for a small business.
- Implement, monitor, and evaluate a risk management plan for their business
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Insurance
After completing this module, you will be able to:
- Understand why insurance is needed for a small business
- Identify other types of insurance that a small business should consider
- Explain how to choose the insurance products that are best for your business.
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Tax Planning and Reporting
After completing this module, you will be able to:
- Understand the federal, state, and local tax reporting requirements of a small business
- Explain how to manage your tax obligations and establish proper accounts
- Understand how the forms and processes are used to pay business taxes
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Selling a Small Business and Succession Planning
After completing this module, you will be able to:
- Explain how to sell and close a business
- Understand benefits of creating a retirement plan
- article Using Personal Finances
- article Determining Your Financing Needs
- article SBA Financial Assistance Eligibility
- article Preparing Financial Statements
Get the Info That Matters Most to You With SBA Direct
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Get Local Assistance Right in Your Area
Counseling, mentoring, and training from an SBA District Office, SCORE Chapter, Small Biz Development Center or Women’s Biz Center in your area.
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