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Money Smart for Small Business (MSSB) provides an introduction to topics related to starting and managing a business. MSSB was developed jointly by the Federal Deposit Insurance Corporation (FDIC) and the U.S. Small Business Administration (SBA). The materials are available for immediate download at Money Smart – Teach – For Small Business.
MSSB trainings for aspiring and existing entrepreneurs are conducted by the members of the Money Smart Alliance. A list of members may be helpful to find available training and assistance near you, although the list does not include all of the organizations that use Money Smart.
MSSB is designed to be delivered to aspiring or existing small business owners by staff from financial institutions, small business development centers (SBDCs), women’s business centers, city/county economic development offices and others. The curriculum is a tool for bank-community partnerships. No certifications are required to use the curriculum. Ideally, MSSB instructors have experience in the delivery of training, technical assistance or coaching to small businesses.
Download the Top 10 Reasons to use MSSB flyer (catalog.fdic.gov).
MSSB is free of copyrights and can be edited by users to meet the needs of any audience. The modules are:
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Is Owning a Business a Good Fit for You? – know your strengths
Planning for a Healthy Business – start-up: from plan to reality
Banking Services – available for small business (Last update 01/20/2020)
Organizational Types – pros and cons of business structures
Time Management – tips to make you more efficient
Financial Management – understanding this critical practice
Recordkeeping – as a managerial tool
Strong Business Credit – demystified (Last update 01/20/2020)
Risk Management – planning for what you can and cannot control
Insurance – choices for business
Tax Planning and Reporting – understanding taxes and your business
Selling Your Business and Succession Planning – developing an exist strategy for your business
Managing Cash Flow – practical problem solving
Guide to Presenting
This serves as a self-help resource for organizations that want to train their Money Smart Small Business instructors. It includes an Instructor Guide, Participant Guide, and PowerPoint slides.
Contents are designed for a three-hour class including the following features:
Overview of all MSSB Modules.
Deep-dive into the MSSB Cash Flow Module.
Money Smart Small Business Modules Matrix
Tips to help instructors design their Money Smart Small Business program, and
How to combine Money Smart Small Business modules.
Event agenda and invitation templates.
Documents:
The FDIC encourages bank lending to creditworthy small businesses. Small businesses that may have an inquiry or concern about the availability of credit can contact the Small Business Hotline: 1-855-FDIC-BIZ (1-855-334-2249)
The FDIC Small Business Lending web page provides information that may be of interest to organizations and financial institutions working with small businesses, for example research on small business lending.
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