Financial literacy to small and medium businesses

Employees of Agrarian University took part in a conference on the development of small and medium-sized enterprises, organized by the publishing house "Kommersant" together with the Russian Ministry of Finance's project to improve the financial literacy of the population.

The event, which was held October 26 at the Chamber of Commerce of the Stavropol Territory, was attended by representatives of regional and municipal authorities, departments of Stavropol guidance banks "VTB 24" and PJSC "Sberbank", as well as representatives of high school - Stavropol State Agrarian University.

Today in the region, every tenth person of SMB has a need for credit, a third of which plans to issue within the next six months. At the same time the availability of credit for SMBs in the North Caucasus is the lowest of all the federal districts.

Participants discussed the need for training representatives of business basics of financial literacy. According to Deputy Finance Minister of the Stavropol Territory Yuri Suslov, Stavropol Territory is one of the pilot regions, where the project of Russian Ministry of Finance for improvement of financial literacy is realised.

According to the deputy director of the Institute of additional vocational training of Stavropol State Agrarian University, Associate Professor Andrey Pankratov, entrepreneurs and especially farmers, which mainly aims financial literacy program in the province, do not want to spend time on their own learning. This factor, in his view, remains a serious problem in the framework of this program.

In the second part of the conference was held a master class for aspiring entrepreneurs of Stavropol Territory, which was conducted by Associate Professor of Business and the World Economy Faculty of Economics SSAU, PhD Natalia Telnova. Participants of the training meeting introduced to financial planning practice in small enterprises, including the analysis of investment opportunities, forecasting the consequences of current decisions, assessing the results achieved compared with the objectives set out in the financial plan.

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