Visa Inc. today announced the expansion of Practical Business Skill, a global digital platform delivering free education resources to help small and micro business (SMB) owners make confident, informed decisions to grow their businesses.
The one-stop entrepreneur education website created by Visa comes in the midst of the current economic crisis that has impacted millions of SMBs worldwide, providing tools for SMB-owners to aid in keeping their businesses afloat and to identify opportunities for potential growth amidst the situation.
“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,” explains Aldo Laubscher, Visa Country Manager.” Practical Business Skills is part of Visa’s commitment to provide 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.”
SMBs account for more than 90% of global businesses and are the source of 50% to 60% of global employment. With the one-year mark of the Covid-19 pandemic approaching, the SMB community needs support to continue adapting, as their contribution to their communities and the global economy cannot be overstated.
Practical Business Skills is built on Visa’s global expertise in financial education and offers growth-minded entrepreneurs tools to help start, manage and expand a business. With more than 50 online learning modules, the platform addresses the needs at various stages of the business lifecycles:
- Starting a business, with tools for prospective entrepreneurs to understand and evaluate the steps involved in opening, financing, running and marketing a company.
- Managing a business, with information on day-to-day business management, including templates for financial and cash flows analysis, and resources to promote sales.
- Building and growing, with tactics on how to drive businesses into a more profitable long-term success.
Practical Business Skills offers SMBs access to a video library with lessons and to resources businesses can easily download and customize, such as calculators to manage cash flows or determine the cost-benefits of a taking a loan. To review all the resources, visit Practical Business Skills: www.practicalbusinessskills.org.
Visa is committed to providing resources that enable SMBs to grow and bounce back from COVID-19. As a company that enables digital payments at nearly 70 million merchant locations around the world, Visa’s priority is to help SMBs thrive at every step.