COMPILATION SMEs - 2015 Symposium to Advance Financial Literacy - Paris - 7 May

3rd OECD/GFLEC Global Policy Research
Symposium to Advance Financial Literacy
HARNESSING FINANCIAL EDUCATION
TO SPUR ENTREPRENEURSHIP AND
INNOVATION
7 May 2015 – OECD Conference Centre – Paris, France

AUSTRALIA
MONEYSMART
Mr Miles Larbey
miles.larbey@asic.gov.au

AUSTRALIA
FINANCIAL LITERACY
AUSTRALIA
Mr Robert Drake
rdrake@finlit.org.au

Mypolonga Primary School in South Australia has children aged 5-13.
All class groups take part in the school’s growing number of enterprises.
1. Their shop for tourists is run by students & is open 1 day a week.
They make products + sell other goods. Sales = $18,000 a year.
2. Children make and sell
school lunches.
3. Children run a catering
business for community events.
Enterprise by school children

Enterprises help them learn:
counting change calculating profit
working together
business planning personal resilience
• By age 13, students’ math results
are higher than similar schools.
• A grant from Financial Literacy Australia
is helping the school to measure
wider benefits to students and
to inspire other schools.

BRAZIL
BANCO CENTRAL DO BRASIL
Ms Marusa Vasconcelos Freire
marusa.freire@bcb.gov.br

Obrigada!
 Forum on Financial Inclusion
Financial Education Initiatives for
Individual, Micro and Small Entrepreneurs in partnership with Sebrae
(Brazilian Micro and Small Business Support Service )
 Instructional videos in simple, direct language
 Lectures at the Entrepreneur’s Fair
 Distribution of materials to 6,000 technical
schools

GERMANY
GIZ
Ms Simone Iltgen
simone.iltgen@giz.de

SME financial education approach at GIZ
Mainly short trainings including one-to-one mentoring sessions, in
combination with
 SME-oriented ads in magazines targeting SMEs
 Media presence such as TV, newspaper, radio, street theatre, etc.
 Social media: facebook, youtube, apps, etc.
 Accounting software for businesses
06.05.2015

Success factors and lessons learnt
06.05.2015
Capacity building of
local trainers and
mentors highly
relevant (ToT)
Training content
and complexity
strongly depends
on the size of the
enterprises
Trainings to be
provided against a
fee (not for free)
Measuring activities
and impact:
e.g. > 3.000
entrepreneurs
trained in Namibia
Mentoring sessions
& business
simulation comple-
ment the trainings
successfully
Shall ideally be an
integral part of a
national financial
education strategy

INDIA
RESERVE BANK OF INDIA
Mr Bipin Nair
bipinnair@rbi.org.in

Reserve Bank of India’s Financial
Education Initiatives for MSEs–
 RBI launched a booklet – “Nurturing dreams, Empowering
Enterprises – Financing Needs of Micro and Small Enterprises –
A Guide” for the first generation MSE Entrepreneur
 The booklet is a quick guide designed to help the
entrepreneur make an informed choice regarding funding
options for making his business venture successful.

Financial Education Initiatives for MSEs
contd..
 Reserve Bank of India’s Regional Offices organise regular
Town Hall meetings in MSE clusters
 This creates awareness among MSEs of facilities available
and aids the process of linking them to the formal financial
system
 The meetings help in understanding the problems faced by
enterprises in accessing finance and creating a base for
two way communication among the stakeholders

INDONESIA
BANK INDONESIA
Ms. Yunita Resmi Sari
sari@bi.go.id

1. Improve
SME’s Awareness
of the Importance
to have Financial
Recording
2. Capacity Building
1.SMEs understand
their business
condition and
their financial
potential
2.Banks have ample
Information to
analyse the SME
financing needs
1. Increase the
awareness for
having financial
report
2. Change the
habits of Mes to
record their
financial
transaction
3. Increase
knowledge to
prepare financial
report
Main Strategies Expected Result Benefits
I. Framework
17

FINANCIAL
RECORDS
STATEMENT
PROGRAM
SOCIALIZATION
& EDUCATION
TRAINING
FACILITATION
18
Financial Education
& Planning
Savings, Credits Etc
Importance of
Financial Records
Increase awareness &
habit
Financial
Transaction Records
integrated with ICT
Profit, Cost Structure,
Efficiency
Business Planning
Financing needs,
investments, etc
Facilitation of
Access to Finance
Connecting to with
creditors/banks,
financing expo, etc
Enrichment of SME
Data and
information
Preparation of
guidelines for
financial
transactions
records for SMEs
Challenges :
a) Changing the mindset of SME to have financial transaction records
b) The absence of regulations that requires SME to have financial transaction records
c) Integrating the financial transaction records with Information and Communication
Technology (ICT)
III. Program and Challenges
18

INDONESIA
FINANCIAL SERVICES
AUTHORITY
Mr Agus Sugiarto
agus.sugiarto@ojk.go.id

WHAT OJK DOES in 2014
Ministries/Bodies
NGOs
Financial
Industries
Program:
Financial Education
Financial Semi Outreach Programs
(partly monitored)
Financial Outreach Programs
(fully monitored)
Participants:
1.195 women
1.146 MSMEs
2.910 students/academics
168 journalists
819 Indonesian migrant workers
(overseas)
20

THE IMPACTS OF
FINANCIAL OUTREACH PROGRAM
20% participants are able to define their financial
objective.
20% participants are now making their own priority
scale. 32% participants are confident that they will
prioritise their needs rather than their wants.
29% participants are confident that they can limit their
non-routine expenses.
36% participants are more confident in managing their
debt.
36% participants choose to use formal financial
institutions. 41% participants are now moving to formal
financial institutions.
24% participants are now following their saving plan.
21

JAPAN
Mr. Kosuke Ito
kosuke.ito@mofa.go.jp

Support, including Consultation, from Financial
Institutions to MSMEs
 According to Financial Monitoring Policy for 2014-2015
(Financial Services Agency, Japan), Financial institutions
are encouraged to
• assess the business, growth potential, etc. of corporate
customers at various stages of their business lifecycle (using
outside organizations and experts as necessary).
• provide financing based on the Enterprises’ business potentials.
• provide support to sustainable companies to improve their
business productivity and quality of management, through an
effective consulting function.
• also support the termination of business for companies facing
difficulties in continuing to operate.

Training & Information Platform for MSMEs
 Platform (https://www.mirasapo.jp/index.html) for MSMEs, supported by SME
Agency, Japan
- Providing Information for MEMES (e.g. Framework of Grants, Tax Regimes for
MSMEs, Financial products and regulations relevant to MSMEs, Establishment of
business)
- Dispatching experts, who has knowledge and experiences about MSMEs’
management and businesses (Through the search engine, MSMEs can easily find
experts, who are suitable to their business situation.)
 Training for MSMEs
- Support management, including financial risk management, through practical
training at 9 SME Institutions by Organization for Small & Medium Enterprises and
Regional Innovation, JAPAN (targeting; SME owners, managers and personnel
from SME support organizations)
- Training programs for managers in listed companies, by Tokyo Stock Exchange
- Vocational training programs by Universities and Institutions etc

LATVIA
FINANCIAL AND CAPITAL
MARKET COMMISSION
Ms Ieva Upleja
ieva.upleja@fktk.lv

ANALYTICAL SUPPORT FOR SME
• The Bank of Latvia maintains the website
www.Macroeconomics.lv - data on macroeconomic
fundamentals, their analysis, views of economists
regarding the current situation
• FCMC interactive tool Financial Literacy Index
summary of indicators
featuring household
financial stability,
comments on the situation
as from year 2004
to understand
the macroeconomic
developments in
the household context
26

EDUCATIONAL SUPPORT FOR SME
• Consumer Rights Protection Centre informs on main
legal risks: http://www.ptac.gov.lv/lv/content/merchants
• Investment and Development Agency of Latvia
(LIAA) promotes business development by foreign investments and
increases the competitiveness of Latvian entrepreneurs:
http://www.liaa.gov.lv/en
Consultations and workshops provided by commercial banks:
• The Business School of NORDEA bank „From idea to investor”
offers a 6 month course (24 lectures) for new entrepreuners as well as
for existing – how to manage diversification, attract finansing etc.
• Swedbank maintains the Competence Centre of Entrepreneurs
and special website (info on seminars, courses, debates):
https://businessnetwork.lv/ievads
• SEB bank develops Business Model Advisory sessions in
branches for new entrepreuners and maintains information, tools and
practical advices for new start-ups on website
27

POLAND
MINISTRY OF FINANCE
Ms Kaja Zalewska
kaja.zalewska@mf.gov.pl
28

Poland
In 2015 our campaigns focus on paying
taxes and combatting shadow economy
Facts
Opinion poll carried out on behalf of the Ministry of Finance showed that:
 For 1/3 of Poles paying taxes is a painful obligation - „I don’t understand way I pay taxes”,
 Only 4% of respondents say that it is worth to pay taxes because of their impact on improving the
quality of life
Ipsos, December 2014
Our goals
 to raise the level of knowledge of Poles in the field of taxes, public finances and socio-economic
issues,
 to raise the level of consumer and entrepreneurs’ awareness of the benefits of having a fiscal
receipt.
 to promote the electronic system (e-PIT) and persuade taxpayers to take advantage of the possibility
to submit tax forms on-line.
Quick Pit - the income tax return campaign
Educational campaign with a particular emphasis put on promoting e-Deklaracje
system (e-PIT) and persuading taxpayers and entrepreneurs to take advantage of
the possibility to submit tax return electronically – a quick and safe way.
 2009 r. - 320 K
 2011 more then 1 000 000
 2013 more then 3 500 000
 2014 more then 5 000 000
 2015 more then 7 000 000
(taxpayers submitting tax return electronically )
www.szybkipit.pl
Why?
 to make taxpayers understand the complex
tax topics,
 to improve voluntary tax compliance,
 to provide tools and assistance to anyone
who may encounter problems with tax
matters.

Poland
Only half of the respondents
realize that the issuing of
receipts during the sale,
affects, throughout the
collection of taxes, the
country’s budget.
Lucky Invoice Lottery
Why?
 to increase the number of fair transactions –
confirmed by regular fiscal receipts,
 to raise the awareness that our taxes should be
spent on our safety, health or education and not be
taken by unfair traders,
 to inform Poles that by taking receipts we support
fair trade and fair competition.
Why?
 to show relation between taxes and public
expenses,
 to realize of the important role of taxes and explain
how they are spent by the government,
 to change people’s attitude towards paying taxes.
http://www.wielkitestopodatkach.tvp.pl
What?
The invoice lottery gives a chance to win a car or
a tablet to anyone who registers a receipt from a
legal cash desk. The Ministry of Finance does not
only want to educate and control but reward
those who claim receipts or issue them. The
lottery is scheduled for Autumn 2015.
Great Quiz about Taxes
According to the
survey, a better
knowledge of how the
taxes are spent, would
positively affect the
sense of the necessity
of paying taxes (40 %
of respondents)
What?
Ministry of Finance together with the Public
Television organized a educational and
amusing TV show that was broadcast live and
consisted of 1,5 h game popularizing
knowledge about taxes and, in particular, the
role of taxes in our every day lives.
The quiz gathered participants in the studio
(celebrities, politicians etc.) and 1,4 million
viewers at home.

PORTUGAL
BANCO DE PORTUGAL
Ms Maria Lúcia Leitão
mlleitao@bportugal.pt
31

PORTUGAL
REACHING NEW TARGET GROUPS:
FINANCIAL EDUCATION INITIATIVES FOR
ENTREPRENEURS AND SMES
 Support of Social Entrepreneurship
 Protocol signature – CASES – Public interest
cooperative for social economy
 Prizes for contest winners: financial
training courses
 Financial Education for the Social Economy
 Training sessions for social economy
SMEs
 Training session for social
entrepreneurs
Prize award ceremony for social entrepreneurship projects
Financial training session for social entrepreneurs
National Plan for
Financial Education

PORTUGAL
REACHING NEW TARGET GROUPS:
FINANCIAL EDUCATION INITIATIVES FOR
ENTREPRENEURS AND SMES
 Protocol signature – IAPMEI (Portugal’s
Public Agency for Competitiveness and
Innovation)
 Joint development of the Core
Competencies for Financial Education of
SMEs and Entrepreneurs
 Major themes and topics being defined
 Training modules to be built according
to different needs and realities of the
specific participants in each session
 Pilot training with SMEs to adjust the
contents
 Training the trainers sessions for wider
coverage
Protocol signature ceremony with IAPMEI
National Plan for
Financial Education

ROMANIA
NATIONAL BANK OF ROMANIA
Ms Ligia Goloșoiu
ligia.golosoiu@bnro.ro

Entrepreneurship to primary school
• Children of primary school were encouraged
to simulate activities that involve role play
using drawn money. E.g. children managed by
teachers, created, in classroom, from paper or
other materials, Christmas globes and sold
them for real money to other
colleagues/teacher and parents. The earned
money, were used to help a couple of poor
children from an orphanage.

Conclusions
Several types of such actions are encouraged
through the project. This type of actions are
meant to develop their entrepreneurship from
their early ages, to combine the formal with
non-formal elements, the communication and
negotiation technique.

SURINAME
CENTRAL BANK
Ms Cherique Mac Donald
cmacdonald@cbvs.sr

Knowledge Sharing Partnership CBTT/CBvS:
Train-the-Trainer course for SMEs
Internal
capacity
building
Objective:
Deliver the fundamental concepts necessary to set up and run a successful business venture
Train the
trainers from
CBvS &
external
stakeholders
Train the
trainers from
the
Real Sector
CBvS-CFEO
adapts
training
material to
Surinamese
situation
CBTT-FIDA
provides
trainers &
training
material to
CBvS- CFEO
Stages in the Knowledge Transfer process
Surinamese
Bankers’ Association
Train SME
entrepreneurs
from the real
sector
External Partners
A partnership initiative: Central Bank of Suriname and Central Bank of Trinidad & Tobago

Training Program Content:
Fundamentals of Entrepreneurship & Financial Management
Internal &
External
capacity
building
External
capacity
building
& E&FE
• Fundamentals of entrepreneurship
• Writing a business plan & generating a business
idea
• Business ethics
• Creativity and innovation: identifying means of
becoming innovative & the use of ICT
• Record Keeping – How to keep financial records
of your business?
• Start Up & Operational Issues for SMEs
• Financial Services – Where to find assistance for
your business?

INTERNATIONAL LABOUR
ORGANISATION
Ms Nadja Nutz
nutz@ilo.org

Main ILO tools for financial literacy and education
SIYB:
Start and improve
your business
Get Ahead:
Gender and
Entrepreneurship
Together
A package of different management training
modules for entrepreneurs and small enterprises
that includes modules on financial management.
SIYB level 1 was designed for illiterate people
engaging in income-generating activities
Training package and resource kit for low-
income women and men engaged in or
wishing to start an income-generating
activity
Financial Education
Training Materials
A series of training materials designed to teach
financial knowledge and management skills to
vulnerable groups – including poor women and
men, families with working children, youth and
migrant workers.

WHAT DO WE DO? EXPECTED OUTCOMES DEVELOPMENT
OBJECTIVE
• Development / adaptation of financial
education materials addressing needs
of diverse target groups and contexts
• Training of trainers
• Training/counseling or (mass)media
campaigns to equip target groups with
financial knowledge, skills and tools
• Impact assessments to refine models
Workers, entrepreneurs, migrant
workers and their families,
farmers, families with working
children, youth make informed
decisions about earnings,
spending, savings, borrowing,
using insurance, money transfers
and other services
• Workers, entrepreneurs,
migrant workers & their
families, farmers, families
with working children ,
youth... have:
• built their assets
• engaged into and taken
advantage of income
generating activities; or
invested their wages
• protected themselves
against risks (i.e. health,
accident, disaster, over-
indebtedness…)
ILO intervention model to enhance financial literacy
FSPs offer credit, savings,
insurance, money transfers and
other products that meet the
needs of target groups
• Technical assistance to Financial Service
Providers (FSPs) for them to assess
needs of clientele/target groups and
develop relevant products
• Capacity building of FSPs to improve
their performances and better manage
products diversification
Possibly combined with other support services (skills, BDS, migration) for a greater impact
Contributing to Financial
inclusion for social justice
Enhancing financial capabilities of users of financial services
In parallel strengthening the provision of financial services

CANADIAN FOUNDATION
FOR ECONOMIC
EDUCATION
Mr Gary Rabbior
gary.rabbior@rogers.com

The Canadian Foundation for Economic Education
[www.cfee.org ]
Provides a free online video series, accompanied by print materials
and helpful links, focusing on entrepreneurship and enterprise skill
development – with a special section focusing on financial literacy
and its importance to entrepreneurs. The series profiles 30
entrepreneurs and their enterprises and also provides a large
number of 1-3 minutes “Advice” videos, featuring the entrepreneurs
on a variety of key topics.
You can freely access all the resources at:
www.cfeespiritofadventure.com

CFEE (www.cfee.org) has a financial literacy guide for youth entitled “Money and Youth”
The book can be viewed online at http://moneyandyouth.cfee.org
The publication features a section on entrepreneurship and focuses on the development of
entrepreneurial skills such as those shown in the following illustration.

CENTER OF ARAB WOMEN
FOR TRAINING AND
RESEARCH
(CAWTAR – TUNISIA)
Mr Mohamed Slim Hedhli
slim.hedhli@cawtar.org

Project “Enhancing microfinance amongst women and youth in
MENA Region”
Objectives:
To enhance microfinance services amongst women and youth in MENA through:
 Completing a demand-side analysis that captures key constraints to accessing
and using formal and informal financial services in Egypt, Tunisia, and Morocco;
 Developing and implementing financial literacy modules targeted to youth and
women
 Improving institutional performance of financial service providers through
South-South learning exchanges and training of key MFIs.
•Demand-Side Analysis
of Access to Finance
Constraints Amongst
Women and Youth
Demande Side
analysis
•Develop and
Implement Financial
Literacy Modules
Targeted to Youth
and Women
Financial literacy
modules
•Enhance the capacity of
MFIs to effectively serve
women and youth
through targeted
learning exchanges
between MFIs
South-South
Learning and
Training of Key MFIs

•Video on the
importance of
microcredit
•2D Video on the
importance of good
preparation of the
budget
•Raise awareness about
the importance of
adopting a rational
financial behavior.
•Advertising campaign
using a radio spot
broadcast through
regional radio stations
•3 ToT in Tunisia and
Egypt (62 beneficiaries
•Training Sessions 780
beneficiaries (378
Tunisia, Morocco 198,
204 Egypt)
•4 modules:
Introduction,
Budgeting,
Savings and Debt
Management).
E
Learning
Course
Training
Sessions
(TOT &T)
Videos
Spot
Radio
Financial Literacy Modules

CHILD AND YOUTH FINANCE
INTERNATIONAL
Ms J.M. Billimoria
jeroo.billimoria@childfinance.org

WORKING DRAFT
Last Modified 12/2/2014 11:57 AM W. Europe Standard Time
Printed 11/14/2014 7:22 AM W. Europe Standard Time

51
Ye! offers 4 pillars of support to young
entrepreneurs
Policy Change (Indirectly)
Advocating for a friendly legislative framework to facilitate youth
entrepreneurship
Country guides E-Community Coaching Funding
Offering a gallery
of country-
specific resources
to help
entrepreneurs
navigate the
various aspects of
entrepreneurship
Connecting young
entrepreneurs
online for peer
support,
knowledge
exchange, and
networking
Pairing young
entrepreneurs
with experienced
professionals for
one-on-one
support;
Linking young
entrepreneurs to
funding
opportunities and
hosting pitching
events

INSTITUTE FOR THE FINANCIAL
EDUCATION OF THE PUBLIC
(FRANCE)
Ms Pascale Micoleau-Marcel
p.micoleau-
marcel@lafinancepourtous.com

contact@lafinancepourtous.com – 00 33 1 44 50 00 80 – May 7, 2015
Various pedagogical resources for all age groups
At elementary
school
For middle school
teachers
For students
Starting
professional life
Saving money
Financing
an investment

contact@lafinancepourtous.com – 00 33 1 44 50 00 80 – May 7, 2015
lafinancepourtous.com
All about entrepreneurship and innovation
 Website created in 2007
 4 million plugs /year
 over 5 000 articles published
 130 training programs…
Practical resources For teachersEconomics dataExplaining finance
Financing a company’s
development

INSTITUTE OF FINANCIAL
STUDIES (SPAIN)
Ms Laura Rincón
lrincon@iefweb.org

• MULTIPLE APPROACH (workshops, pedagogic
materials, videos, online workshops…) TO
MULTIPLE SEGMENTS (adults, youth, workers,
professors, financial advisors, etc)
IEF on Financial Education Programs
• Developing Financial Education Programs
SINCE 2008
• PEDAGOGICAL OVERVIEW AND SUPERVISION BY
EDUCATIONAL AUTHORITIES (materials and
methodology)
• Financial Education Workshop through INDUSTRY
PROFESSIONALS VOLUNTEERS, SPECIFICALLY
TRAINED on Financial Literacy
• INTERNATIONAL EXPERTISE (EFEP, Life Long
Learning Project and EFINLIT, Erasmus + Project)

The range proposed is:
• 20% OF THE CATALAN ADULTS SCHOOLS (face to face workshops)
• MORE THAN 20.000 EU CITIZENS (by a online platform)
• MALL AND MEDIUM SPANISH ENTERPRISES (face to face workshops)
• MORE THAN 25 PROFESSIONAL ASSOCIATIONS (face to face workshops)
Promote entrepreneurship and improve the employability
Promote best practices and business excellence
On going projects:
• VET and entrepreneurship workshops in schools
• Adults VET Schools: intensive financial education workshops
• Self-employed and SME Assoc: Financial Education with EFPA
• Financial Education video’s collection
2015-2016 projects:
• Enlarge specific SME’s and professionals Financial Education Projects
• Support (initial Fin. Education) by a platform for social impact investment
• Include entrepreneurship in all Financial Education projects
IEF on Financial Education Programs

JUNIOR ACHIEVEMENT
EUROPE
Ms Veronica Mobilio
veronica.mobilio@jaeurope.org

JA Europe’s focus is on ensuring young people have the skills they need to start a business or get a job.
Financial literacy is part of the learning outcomes and blended in our programmes and activities.

Primary
Middle
Secondary
Higher Education
Financial literacy is part of the curriculumof JA
programmes at all stages. The engagement of small
and large companies as well as those in the financial
ecosystem (e.g. banks, insurance services, etc.) is key.
How money moves and what it is for.
Needs and wants; goods and
services; society and the economy.
Personal finance, understanding and
managing risks, budget and
opportunity costs.
Creating value and sharing it.
Moving from the individual’s point
of view to the company’s one.

MASARYK UNIVERSITY
DEPARTMENT OF FINANCE
(CZECH REPUBLIC)
Ms Barbora Chmelíková
barbora.chmelikova@gmail.com

www.econ.muni.cz
 preparing University students
to deliver financial education
to underprivileged individuals
 ensuring a regular flow
of people delivering
financial education
 helping further promote the
volunteering and citizenship
ideas and build civil society in
the Czech Republic
 introducing long-term and
sustainable concept of financial
education for adults
Citi – Masaryk University Financial Capability Program
Barbora Chmelíková
barbora.chmelikova@gmail.com
Women from
asylum‘s
house
Children‘s
Home

www.econ.muni.cz
Seminars at Children‘s Houses and Asylum Houses
 The university students prepared a lecture aiming at financial literacy.
Barbora Chmelíková barbora.chmelikova@gmail.com
Department of Finance +420 737 588 725
Masaryk University
Contact:

PLANET FINANCE
(FRANCE)
Mr Marin De Viry
mviry@planetfinance.org

PlaNet Finance’s examples of financial education initiatives for
entrepreneurs
65
Very few MFIs in the selected countries and the Middle East region
in general undertook clear initiatives of tailoring their services to
youth, given that MFIs perceive youth as high risk clients with weak
financial capacity and moderate business experience. As a result,
the vast socio-economic potential consisting of the young - and
namely the young entrepreneurs - remains untapped, and the
vicious circle of youth unemployment, poverty and frustration
perpetuates. The objective of this project is namely to foster
economic empowerment of youth across the Middle East through
the dissemination of proven MF/MSME approaches adapted to the
specificities of their economic profiles.
.
Youth Entrepreneurship Project (YEP)
Location: Egypt, Lebanon,
Palestinian territories
Targets: Youth aged 18 to 30
Needs covered: To equip youth with
knowledge and capacity to set up
their own businesses or reinforce the
existing ones
Funder: European Union
•Adaptation of
existing
financial
education
materials
•Training of
Loan Officers
1
45 MFIs trainers
provide financial
education and
business
development
services training
2
50 trained
Loan Officers
provide
coaching &
follow-up
3Business and
Financial
Education
Training
Access to credit
Monitoring & Evaluation
4
5

Duration: 2013-2015
Funder: Fondation Orange
Partner: MFIs (MUDEF, MUFFA, CECPROM Mature)
Budget: € 440,000
Objectives:
• Increase Financial Autonomy of Women micro-entrepreneurs through higher and more stable revenues
from their Income Generating Activities
Methodology:
• Training and coaching of 400 women to better manage and develop their economic activity
• Promotion of the use of mobile technology among trainees for their business activity
• Partnership with 3 MFIs to reinforce their financial and non financial service offer
Results
PlaNet Finance’s examples of financial education initiatives for
entrepreneurs
66
• 439 women trained, 347 coached with an average
3,25 visits:
- Increase in financial management of the activity
- increase of formal savings (2012-14: +26%)
• Significantly lower PAR 90 among beneficiaries
vs. other members of MFIs
- Up to 10 times lower
• 300 women using mobile technology for
managing their business
MFF: Promotion of women entrepreneurship - Cameroon

REPUBLICAN
MICROFINANCE CENTER
(BELARUS)
Mr Yury Malafei
malafey@brmc.by
67

AFI | Bangkok | 27 July 2012 | Page 68
“Increasing Access to Finance for Rural
Population in Belarus“ (2014-2018)
REPUBLICAN MICROFINANCE CENTER
Republic of Belarus
According to the National Bank of Belarus and Alliance for Financial Inclusion
(AFI) data (Project “Measuring Access to Finance: Developing Evidence-based
Access Policies in Belarus” - Population Usage Survey 2012)
 A significant proportion of the population (14.1%) is financially
excluded and mostly lives in rural areas;
 Use of 1 - 2 services is the most common in rural areas (43.9% of
the total rural adults)
“This presentation is produced in the framework of “Increasing Access to Finance for the Rural Population
in Belarus” activity, implemented by the Republican Microfinance Center (Belarus) with support of USAID.
The contents are the responsibility of the Republican Microfinance Center and do not necessarily reflect
the views of USAID or the United States Government.“

AFI | Bangkok | 27 July 2012 | Page 69
Enhance financial literacy
and entrepreneurial skills of the
rural population
RESULTS FOR 2014- 2015:
39 LOCAL TRAINERS OF THE FINANCIAL
LITERACY COURSE ‘PLAN YOUR FUTURE’
TRAINED
40 ‘PLAN YOUR FUTURE’ WORKSHOPS HELD IN
RURAL LOCATIONS OF BELARUS FOR 741
OWNERS OF MICROENTERPRISES
18 SEMINARS WITH CONSULTATIONS HELD ON
BASICS OF ENTREPRENEURSHIP AND
ELABORATION OF BUSINESS IDEAS IN RURAL
AREAS ATTENDED BY 306 RURAL
MICROENTREPRENEURS
malafey@brmc.by
www.brmc.by

YOUNG ENTERPRISE (UK)
Mr Steve Stillwell
steve.stillwell@y-e.org.uk

YoungEnterprise
&TheLearner DevelopmentJourney
Young Enterprise is the UK’s leading enterprise and financial
education charity, and home to pfeg.
Each year we work with over 250,000 young people to
empower them to develop the knowledge, skills and attitudes
they need for work and for life.
We give young people – from
all backgrounds – the
opportunity to realise their full
potential.
Our Learner Development
Journey maps intended
learning outcomes for our
secondary and further
education programmes
against the eight key
employability
competencies.
Employability competencies
that are highly valuable to
employers and further
learning providers are:
1) Communication
2) Confidence
3) Financial capability
4) Initiative
5) Organisation
6) Problem solving
7) Resilience
8) Teamwork
We empower young
people to learn, to work
and to live.
The Journey
Stage 1- Raising awareness of employability
competencies Stage 4 – Modelling key
competencies through real-life experience.

FiverChallenge
&FinancialEducation
Eachpupil registeredis
pledged£5fromthe
FiverBankon1June. Pupilsusethisstart-up
capitaltogettheir
enterpriseofftheground,
workingaloneorina
group.
Pupilshaveamonthto
makeasmuchprofitas
theycan whilealso
aimingtoengagewith
theircommunity.
Attheendofthe
month,eachteam
works outtheir
financesandrepays
theirpledge.
Pupilsareincontrolof
theirprofitandshould
decidewhatthey
wouldliketospendit
on-forexample,a
schooltrip.
Howdoesitwork?
FinancialEducationinpractice…
• Develops key skills such
as team work,
creativity and
communication
• Introduces pupils to managing
money, budgeting and
understand the role of money
in life
• Provides hands on experience
of running a business
• Encourages pupils to
consider their attitudes
towards work and
money

ASSOCIATION OF
CHARTERED CERTIFIED
ACCOUNTANTS (ACCA)
Ms. Afra Sajjad
Afra.Sajjad@accaglobal.com

©ACCA74 3rd OECD/GFLEC Global Policy Research Symposium
ACCA GLOBAL FINANCIAL EDUCATION INITIATIVES
FOR MICRO AND SMALL ENTREPRENEURS
●
Dec 2009: Trinidad & Tobago
●
● Oct 2006: Vietnam
Jan 2006: Pakistan
●
●
●
●
●
Oct 2012: Nigeria
Oct 2012: Uganda
Oct 2012: Singapore
March 2010: UK
Jan 2011: Zambia
●
Oct 2009: Jamaica
Oct 2009: Barbados
●

FRENCH BANKING
FEDERATION
Les Clés De La Banque
info@lesclesdelabanque.com

THE FINANCIAL LITERACY PROGRAM
by French banking federation
• 3 targets : public, micro, small and medium-sized enterprises (MSMEs),
social workers
• Simple, neutral and no commercial information
• About everyday banking
• To develop knowledge and skills in order to manage budget and banking relationships,
and to make sound choices
In 2014, 4 millions visits overall and
700 000 documents diffused ou
donwloaded
A AREA DEDICATED TO MICRO AND SMALL ENTERPRISES,
entrepreneurs
tradesman, craftsman
the professions
www.lesclesdelabanque.com
1,2 million visits
The most popular Items :
business creation, bill of
exchange

Financial spreadsheets
Aims to help entrepreneurs to develop and manage their business:
Business plan, profit and loss account, etc.
75 000 downloads in 2014
Mini-guides
Standard Letters
23 standard letters to help entrepreneurs in their
relationships with their bank
2 000 downloads
A collection of 19 educational publications (about
entrepreneurship, financial needs, etc.)
14 000 downloads, views or orders
www.lesclesdelabanque.com
Videos
Short movies about security,
business creation, etc.
SOME PRACTICAL TOOLS
for very small businessmen

SAVINGS BANKS FOUNDATION
FOR INTERNATIONAL
COOPERATION
(GERMANY)
Mr Matthias Fohs
matthias.fohs@sparkassenstiftung.de

Finanzgruppe
Sparkassenstiftung für internationale Kooperation e. V. Seite 80
1. Overview of projects in Financial Literacy, especially for
SME
Aware of the importance of financial education, Sparkassenstiftung
launched a study in on the factors of success of financial literacy measures
in Mexico, Botswana, Namibia, the Republic of South Africa and Vietnam.
During the last years, Sparkassenstiftung realised a series of projects in the
field of Financial Literacy:
– Introduction of the World Savings Day in DR Congo, Rwanda,
Burundi, Ukraine, Mozambique
– Strengthening Financial Education in Mexiko, Peru, El Salvador,
China, Armenia, Albania, Rwanda, Uzbekistan

Finanzgruppe
Sparkassenstiftung für internationale Kooperation e. V. Seite 81
1. Overview of projects in Financial Literacy, especially for
SME
In Uzbekistan Sparkassenstiftung cooperate with the Women’s
Committee of Uzbekistan, with the aim of strengthening the
financial literacy of Uzbek entrepreneurs, especially women
business and start-ups.
–special micro-business games in Women Consulting Centres
–free of charge consulting to all questions concerning business,
household planning, loans in 13 Women Consulting Centres

WSBI and ESBG
Ms Laura Gutiérrez
laura.gutierrez@wsbi-esbg.org

WSBI and ESBG
“Promoting Members’ Good Practice”
FINANCIAL LITERACY FOR SMEs
“SALDO POSITIVO EMPRESAS”
Caixa Geral de Depositos
A value driven programme
for better management and
accurate risk perception from SMEs

WSBI and ESBG
• CGD was the first Portuguese bank to invest in a specific financial
literacy program for small business entrepreneurs and SME
• Target: Entrepreneurs and executives from micro and small
business enterprises.
• Website: http://saldopositivo.cgd.pt/empresas/
• Mission:
• Helping entrepreneurs to better manage their resources with
essential and practical information about businesses and
governance.
• Giving the best ideas for managers financial decisions.
Paula Viegas: Paula.Viegas@cgd.pt
Laura Gutiérrez: laura.gutierrez@wsbi-esbg.org

VISA EUROPE
Ms Alev Saman
samana@visa.com

86
I Can Manage my Money - Young Entrepreneurs Segment
@paraniyonet paramiyonetebiliyorumwww.paramiyonetebiliyorum.net
Target: To help young entrepreneurs understand basic financial
concepts and to enable them manage basic financial operations
successfully
Training content:
• Entreprenership process
• Feasibility
• Budget
• Financial tables
• Financing

87
I Can Manage my Money - Young Entrepreneurs Segment
@paraniyonet paramiyonetebiliyorumwww.paramiyonetebiliyorum.net
Cooperation with UNDP’s International Entrepreneurship
Center, universities’ «Entrepreneurship Clubs»
Online trainings
For detailed information please contact:
Alev Saman – Visa Europe – samana@visa.com
Kazim Hasirci – Habitat Association – kazimhasirci@habitatkalkinma.org
Promoted through I Can Manage My Money
social media accounts
Face-to-face trainings

COMPILATION SMEs - 2015 Symposium to Advance Financial Literacy - Paris - 7 May

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