top of page

Small Business Owners: The need for Financial Literacy

Marie Deary

Aug 30, 2023

Financial Literacy

John is the sole proprietor who ran his own for five + years. He was doing well, but he needed to expand his operations and a loan to do it. He went to a Wealth Management Financial Advisors firm in CA to ask for help.

Wealth Management Financial Advisors advocate Marie listened to John's story and then asked him some questions about his business. She wanted to know about his cash flow, his profit and loss statement, his balance sheet, and his business plan. John didn't have any of these documents. He had never been good at keeping track of his finances.

Marie explained to John that he needed to get his financial house in order before he could apply for a loan. She also explained to John the criteria a lender is most likely to focus on when you apply for a loan. Wealth Management Financial Advisors created a cash flow statement, profit and loss statement, and a balance sheet. Wealth Management Financial Advisors also developed his business plan.

As a small business owner, you don't necessarily have to prepare financial statements yourself. There are many accounting firms that can prepare financial statements for small businesses. However, it is important for business owners to understand financial statements so that they can effectively use them to manage their businesses.

Once John had these documents, he was able to apply for a loan. He was approved for the loan, and he was able to expand his business. He was grateful to Sarah for her help, and he realized the need for financial literacy within the small business community.

Marie was glad that she could help John. She knew that he was a hard worker and she believed in his business. She also knew that there were many other small business owners who needed help with their finances. She decided to start a webinar every Wednesday at 6:30 PTS to educate small business owners about financial literacy.

The webinar is a success. She helped many small business owners to improve their finances and to get the loans they needed to grow their businesses. She also helped to raise awareness of the need for financial literacy within the small business community.

John's story is a reminder that financial literacy is essential for small business owners. If you are a small business owner, it is important to get your financial house in order and to understand the different types of financing that are available to you. There are many resources available to help you, such as Wealth Management Financial Advisors advocate

Here are some tips for small business owners who are looking for financial help:

  • Get your financial house in order. This means creating a budget, tracking your spending, and understanding your cash flow.

  • Get help from a financial advisor. A financial advisor can help you to create a financial plan for your business and to identify the best financing options for you.

  • Take advantage of government programs. There are many government programs that offer financial assistance to small businesses.

  • Network with other small business owners. Other small business owners can share their experiences and offer advice.

Attending financial literacy workshops. There are many financial literacy workshops available to small business owners. These workshops can help you to learn about the basics of finance and to improve your financial skills.

Marie Deary, BSEE, MSEE, MBA, CDFA, FP 

Senior Financial Advisor

Wealth Management Financial Advisors

Certified Tax Preparer/Consultant

Certified Turnaround Business Specialist 

Neighbor Works Certified

Loss Mitigation Counseling Specialist

3701 Long Beach Blvd. Suite 100.

Long Beach Ca. 90807


Confidentiality Disclaimer:

The contents of this email and any attachments to it may contain privileged and confidential information from Wealth Management Financial Advisors Inc. This information is only for the viewing or use of the intended recipient. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution or use of, or the taking of any action in reliance upon, the information contained in this e-mail, or any of the attachments to this e-mail, is strictly prohibited and that this e-mail and all of the attachments to this e-mail, if any, must be immediately returned to Wealth Management Financial Advisors Inc., Inc. or destroyed and, in either case, this e-mail and all attachments to this e-mail must be immediately deleted from your computer without making any copies thereof. If you have received this e-mail in error, please notify Wealth Management Financial Advisors Inc. by e-mail immediately.

bottom of page