Entrepreneurs Need Financial Literacy
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Entrepreneurs Need Financial Literacy Education Too! - PowerPoint PPT Presentation

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Without knowing financial basics like budgeting and reading a balance sheet, the entrepreneur may have difficulty growing their business or even keeping it afloat.

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Small and Medium Sized Enterprises (SMEs) have

consistently made crucial contributions to Kitchener’s

economic and socio-economic development.

Kitchener aims to build a startup city by nurturing an

entrepreneurial culture and by leveraging key start up


Kitchener continues to be a great place to start a

business, with the best programs, facilities and

community support.

Entrepreneurs get carried away with all the aspects of

developing a product or service so much so that they

don’t spend enough time beefing up their financial


Without knowing financial basics like budgeting and

reading a balance sheet, the entrepreneur may have

difficulty growing their business or even keeping it


More than half of all new startups in Canada are run by

part-time entrepreneurs who are working full-time and

balancing their business on the side.

Financial literacy skills will make them more efficient

and productive both in life and with their finances.

1. 55% of people are stressed about money

2. Money is the number one cause of stress for employees

3. 40% of people say that money stress is affecting their work


4. 42% of Canadians lack basic financial literacy

5. Employers who implement some form of financial education in the

workplace, see a return on their investment


New employers should look to develop a company culture

that understands the value of money, plans and manages it

well, and cultivates a workplace mentality that wants to see

that money/company continue to grow.


Any time or money invested in financial education

is returned with increased productivity, less stress

in the workplace, and employees with an overall

enhanced sense of well-being.


This education builds financial knowledge, which then

reduces stress levels benefitting quality of work, it’s a

win-win for everyone


If you’re starting up a business, make sure you brush up

on your financial literacy skills so you can keep your

business finances in order and running smoothly.


Having a financially literate workplace means a healthy

bottom line, one with which you can make confident

financial decisions that will benefit both you and your



Starting a business, looking for financial advice, contact

BDO Kitchener.

Telephone: (226) 336-8933

Email: [email protected]