Module 2. The Importance of Financial Literacy

 In this online workshop, Mr Thomas Cooney, renowned trainer and lecturer,  addresses the knowledge gap in financial literacy among owners/managers of SMEs and the impact this has on business decisions. Using examples from SMEs with whom he has worked, he provides practical tips on how owner-managers can enhance their financial management abilities. The lecturer asserts that while a background in accounting is no prerequisite for becoming owners/managers of SMEs, financial management can be significantly improved and informed business decisions can be taken, leading to sustained success, by keeping some basic monthly financial numbers. He also stresses the need for support agencies to acknowledge their role in maintaining financial literacy processes amongst owners/managers of SMEs.