Group offers finance classes for business owners

Many people who start small businesses know about their service or product, but little about the financial side of running a company. Two government agencies, the Small Business Administration and the Federal Deposit Insurance Corp., have put together a curriculum to help entrepreneurs learn the basics.

The curriculum, called Money Smart for Small Business, is being offered free to financial institutions, local economic development organizations and other groups who can use it run courses for small business owners. Small Business Development Centers will also get the curriculum. SBDCs are sponsored by the SBA to teach and counsel small business owners. There are more than 800 SBDCs at colleges, universities, chambers of commerce and other locations around the country.

The curriculum includes courses on the types of businesses an owner can choose to operate under, like sole proprietorship, limited liability company or corporation. Other courses include time and financial management, record-keeping, credit reporting, insurance, taxes and selling a business.