{"id":10175,"date":"2021-07-26T09:24:04","date_gmt":"2021-07-26T13:24:04","guid":{"rendered":"https:\/\/web.uri.edu\/risbdc\/?p=10175"},"modified":"2021-07-26T09:25:51","modified_gmt":"2021-07-26T13:25:51","slug":"conquering-financial-literacy-with-financial-qbits","status":"publish","type":"post","link":"https:\/\/web.uri.edu\/risbdc\/conquering-financial-literacy-with-financial-qbits\/","title":{"rendered":"Conquering Financial Literacy with Financial Qbits"},"content":{"rendered":"
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Are you afraid of what you don\u2019t know when it comes to your company\u2019s finances? <\/span><\/p>\n

If so, you\u2019re not alone: a whopping <\/span>67 percent of adults<\/span><\/a> worldwide are considered \u201cfinancially illiterate.\u201d Achieving financial literacy is a new frontier\u2014and a great goal\u2014 for many small business owners and entrepreneurs. <\/span><\/p>\n

What does it mean to be financially literate?<\/span><\/h2>\n

In short, <\/span>financial literacy<\/span><\/a> means<\/span> understanding where you stand financially, and how to use that knowledge to make sound financial decisions.<\/span><\/p>\n

In business, financial literacy also refers to your ability to engage with accountants on a deeper level so you can effectively strategize and improve your financial positioning. Financial literacy is a key component to business growth. <\/span><\/p>\n

Beyond traditional financial training<\/span><\/h2>\n

Traditional concepts of finance and accounting can be intimidating, and for many small business owners, this results in deeply rooted and persistent fears that prevent them from taking control of financial matters related to their business. And many entrepreneurs struggle to find resources and training programs that meet them where they are at, with many programs starting way over their heads. <\/span><\/p>\n

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This is a problem. Why? Well, simply put, developing an effective business strategy requires small business owners to understand their accountant\u2019s financial reports, and their overall financial positioning. <\/span><\/p>\n

Financial literacy leads to business success <\/span><\/h2>\n

A lack of financial literacy can hinder a business\u2019s chances of succeeding. This is why RISBDC now offers small businesses access to <\/span>Financial Qbits<\/span><\/a>, a new program that teaches the fundamentals of accounting and finance. <\/span><\/p>\n

Financial Qbits helps small businesses conquer fears around basic business financial topics, so they can remain competitive in their respective markets. <\/span> <\/span><\/p>\n

Why Financial Qbits<\/span><\/h2>\n

With a fully visual approach, Financial Qbits highlights the fundamental building blocks of <\/span>finance and accounting, helping small business owners to understand them quickly and easily, even if they don\u2019t have any previous financial training. <\/span><\/p>\n

Making the invisible visible, Financial Qbits training results in an essential savings of time and effort as learners gain clarity on many basic financial concepts. Moreover the Financial Qbits methodology empowers individuals to learn a year\u2019s worth of information in ten hours, while creating a mindset of wealth creation. <\/span><\/p>\n

Financial Qbits is comprehensive and offers actionable tools that you can immediately apply to your business. Program objectives include:<\/b><\/p>\n