Financial Literacy for Promoting the Sustainability of SMEs

About Project

Who are we?

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Asociacia za analizirane I realizacia na novacii (Bulgaria)

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Sosyal Inovasyon ve Girisimcilik Dernegi (Türkiye)

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Asociatia Youthland (Romania)

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Financial Literacy for Promoting the Sustainability of SMEs (Fin-Lit 4 SMEs) is a Erasmus+ Small Scale Cooperation Partnerships project in the area of Vocational Education.​

The general aim of our project is to increase the financial literacy of the finance personnel and executives, to improve the survival rates and sustainability of SMEs, especially in economic crisis situations, by enabling them to analyze the global, national and sectoral economies and to enable their companies to take positions accordingly.
Specific objectives of the project are:
- Make finance personnel and executives
a. To be able to follow global, national and sectoral economies and developments,
b. To be able to access and interpret macroeconomic indicator data, reports and statistical studies for countries, microeconomic indicators for the sector and businesses,
c. To ensure that the company's financial decisions to be in accordance with economic realities,
d. To be able to detect crises and financial bottlenecks at the global, national and sectoral level in advance and to make recommendations on the use of appropriate financial instruments,
e. To enable the company to benefit from low-cost or non-refundable external financial resources and aids that can improve its financial capacity.
- To create free tailored training outputs in order to increase the capacity of finance personnel and executives in the abovementioned issues and to support these trainings with e-learning and other innovative methods.
Our project aims to ensure the professional development of finance personnel and executives, especially in SMEs. The literature review, gap analysis and research studies in the project area show that there is a gap in this area. Statistics and reports of international organizations also reveal that the financial risks of SMEs increase, especially in times of crisis.
Personnel working in finance works in SMEs fulfill their standard duties. These duties can be summarized as keeping financial records, making payments, preparing reports, and conducting business and relations with banks. In addition to these competencies, our project will increase the competency and capacity of finance in providing consultancy and advice in the field of economics and thus contributing to the financial sustainability of the company they work for. Also executives in SMEs will benefit from this outputs, they will be able to make more rational and objective decisions.

​Within the scope of this priority, our project will enable the production of innovative and flexible training methods that can be easily accessed and used by learners and trainers. Free access to the e-learning platform to be included in the project will be possible at any time and place. This will enable the use of distance, hybrid and modular education methods. In addition, the outputs will be produced within the framework of a learner-oriented needs analysis and will be tested and improved with pilot trainings. This will ensure that the impact of their training is more permanent and sustainable.

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