April is Financial Literacy Month

April is Financial Literacy Month

2 minute read

VtSBDC introduces 7-part “Know Your Number$ series: Financial knowledge adds up to informed business decisions

RANDOLPH CENTER, Vt. (April 9, 2021) – Financial Literacy Month is underway, bringing to the forefront the importance of understanding the connection between financial literacy and business outcomes. Vermont Small Business Development Center (VtSBDC) has responded in a timely way to this need with a unique new resource: “Know Your Number$,” a seven-part series innovated to help business owners at every stage identify their financial goals and interpret the language of business. Launched this week at https://www.vtsbdc.org/know-your-number/, the series is designed to alleviate intimidation about important financial knowledge and to help business owners and managers understand reports, leading to more logical, timely, and informed decision making. 

VtSBDC advisor Ross Hart and VtSBDC consultant Carol Feliciano of 802 Books and Taxes guide the viewer through a multi-faceted exploration of seven areas of financial intelligence: Revenue; Expenses; Profit and Loss (Income Statement); Balance Sheet; Key Financial Metrics; Cash Flow Management; and Basic Financial Management.  With an engaging mix of slides, images, and narration, Hart and Feliciano illustrate real life examples of how the financial principles are applied, and pose the questions business owners need to answer in order to clarify their goals, assess their financial options, and determine how to move forward. 

“Ross and Carol share their expertise in an approachable, easy-to-understand way that provides viewers with the essentials of business finance,” said VtSBDC State Director Linda Rossi.  “Know Your Number$ is one of several new digital tools VtSBDC has developed in response to the impact of COVID-19. Our goal is to provide Vermont’s small business owners with a variety of interactive resources that include actionable steps, offering a “do it yourself” approach in preparation for one-on-one VtSBDC advising. Know Your Number$ addresses the increasing need for financial literacy for business owners at every stage of their business.” 

To access the Know Your Number$ series, visit https://www.vtsbdc.org/know-your-number/

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