Innovation in Financial Management Training for Small Business

Abstract

Access to a strategic planning software package provided a state‐based small business training provider with an opportunity to develop an innovative training/assistance program in financial management for small business. The program aimed to have accountants use the software to provide small business managers with financial management information specific to their firms, in a cost‐effective manner. It was hoped that in so doing, accountants would build the provision of such information into the services normally provided to small business, and the small business managers would recognize the value of such information and begin to use it in the management of their firms. Reports on an evaluation of the program which indicated that the program innovation was an effective means of encouraging and enabling both accountants and small business managers to undertake and utilize financial analysis in the management of small firms.