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Financial and forecasting models for entrepreneurs
Start date: Oct 1, 2016, End date: Sep 30, 2018 PROJECT  FINISHED 

The project aims to develop a training model and tools to support micro enterprises entrepreneurs, especially those pertaining to generation Y (generation aged 18-34), to make responsible economic, financial and investment choices, not only for what concerns the management of the business finance but also those considered personal. Ultimately the project wants to boost financial literacy in micro enterprises thus to help them in staying stable on the market, foster local economies and support further employability.In order to achieve that the project wants to develop:- a training model addressing the main topic of the financial literacy to boost entrepreneurs capacity of undertake responsible financial choices- training contents adapted on the needs of the target group and available online translated in all consortium languages, free to use- creation of the tools, instruments needed to develop financial competences through the use of edutainment methodology- development of the transparency and recognition tools – ECVET in order to ensure transfer of competences, transparency of learning outcomes and clearness for the learner.Entrepreneurs, who often lack the financial literacy skills required for the complex business decisions they face, need to better understand their financing needs and options, and to be aware of the support and services available to them. The contribution of every player in the financial ecosystem - including European, local, and financial institutions, as well as accountants - to help reach that aim is crucial.( “Financial education for entrepreneurs: how to get it right?" - 7 October 2014, the Association of Chartered Certified Accountants and Barclays).On the other way the innovativeness of the project is to provide micro enterprises young entrepreneurs with an agile toolkit, capable to support their investment choices, through the development of basic but fundamental competences in this field. Financial literacy can entail difficult concepts which can hinder the capability to make investments and manage the financial asset of an entrepreneur. This is true especially if the size of the business is not large and is more grounded on a small local economy, rather than having a wider economic scope. These goals will be achieved by the joint efforts of all organizations involved in the consortium, as well as third parties and stakeholders, through the development of specific tools addressing the specific needs microenterprises entrepreneurs:1. In depth assessment to highlight difficulties of the target group2. A training path covering all the main and common aspects of financial education as well as tools for the recognition and transparency of the learning outcomes achieved3. Guidelines for microenterprises toward the implementation of financial investments and exploitation of products, toward a more sustainable financial and economic growth.The project idea has been raised from the shared experiences of project partners and the analysis of the sector – financial education. The consortium partners represent the different aspects addressed by the project topic: from one side there are organization from the bank sector - Mediterranean Bank Network (Malta) and Association EFFEBI (Italy); from the other side organizations belonging to the education sector Eurocrea Merchant (Italy) and IDEC (Greece). Finally those in the consultancy sector for business and entrepreneurs from different perspectives Bridging to the future (United Kingdom), Incubator Leeuwarden (The Netherlands) and Malta Business Bureau.The objective of the project is to contribute to improving the competences of entrepreneurs in terms of financial performances and economic development. Therefore the expected impact on microenterprises will be:- improve the effectiveness of financial investments within their businesses leading to improved productivity and/or performance. They will have transferred learning derived from participating in the project into their business, resulting in them innovating their investments. It is expected that the project results will improve the efficient and effective investments (i.e. reducing risks, debts and improving financial awareness). They will be able to use the results of the project and make future sustainable investments plans, that will have a long term impact on performance.A wide dissemination campaign through multiplier events has been foreseen in order to reach the more entrepreneurs as possible, boosting the impact and outcomes of the project at European level.

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