Global digital financial and business platform established by Visa Inc, Practical Business Skills, designed to help small businesses with a variety of tools and resources such as free educational resources to assist small and micro business (SMBs) owners announced that it has expanded its currents offering.
Financial and business literacy are two of the most critical skills a small business owner can have. Therefore, the program is designed to help entrepreneurs with expansion. It offers small businesses financial and business knowledge to manage their money and make confident business decisions.
Aldo Laubscher, Visa Country Manager explains that the expansion of the free business resource is to assist SMBs
“SMBs are the backbone of our economy. It is crucial to empower SMB-owners with knowledge, skills, and access to services that support them in rebuilding -or starting- stronger, digitally enabled businesses. Practical Business Skills is part of Visa’s commitment to providing resources and knowledge to help drive inclusive, sustainable and equitable economic growth for entrepreneurs, businesses and communities here in South Africa and around the world.”
Practical Business Skills
The free platform provides educational tools to assist small and micro businesses to become digitally enabled and grow. As a one-stop entrepreneur education website, Practical Business Skills was established during the height of the global pandemic as a much-needed resource to help SMB’s survive.
Offering more than 50 online learning modules, the platform covers various topics such as;
- Starting a business, a module that provided tools for budding entrepreneurs to analyse and evaluate the steps involved in opening a business. This includes financing, operating, and marketing a company.
- Managing a business. This module covers day-to-day business management including templates for financial and cash flow analysis along with resources to boost sales.
- Building and growing a business. This module provided practical tactics for business owners to use to increase a business’s profitability.
The platform offers downloadable resources in the form of both video lessons and courses. Additional tools included the customisation of the resources including calculators to manage cash flows or loan-risk determination.
