Module 5: Financial Literacy for Micro Small Medium Business (MSME)

Session 1: Business Planning

Learning Objectives

• After completing this module, you will be able to:
• Explain how an evolving planning process can help you make key decisions as business owners.
• Describe how to convert a vague idea into a resource plan.
• Explain the importance of a healthy personal credit score and healthy relationships with lenders.
• Describe how a business plan helps motivate stakeholders to understand and support your business ideas.
• Explain the benefits of creating a day-to-day action plan for running a small business

Session 2: Entrepreneur Mindset

Learning Objectives

• After completing this module, you will be able to:
• Clarify some of the myths and realities of small business ownership.
• Start a self-assessment to determine your readiness to become a small business owner.
• Set a plan of action to complete your self-assessments by seeking feedback from stakeholders, such as family, friends, and potential customers.

Session 3: Financial Management

After completing this training, you will be able to:

• Explain the concept of financial management and why it is important to a small business and its owner
• Identify financial management practices, rules, and tools commonly available to small businesses
• Explain how financial management practices, rules, and tools work
• Explain financial management basics for a small business, including:

1. 1. Start-up financing
   2. Financing for growing business
   3. Financing working capital
   4. Financing Fixed Assets