At the organizational level, SMEs benefit from financial education programs by acquiring the skills necessary to make themselves cost-efficient and dynamic. Sound book-keeping practices, the ability to leverage their assets for investment, proficiency in credit management, and other key financial skills are keys to every SME’s survival and growth. A study conducted by researchers at Jomo Kenyatta University of Agriculture and Technology in Kenya found that SMEs whose managers attended a financial literacy program experienced a growth in sales and profits, leading to significantly enhanced business performance.
SMEs need information beyond what is usually taught in financial education programs directed towards individuals. According to a USAID report on the need for financial literacy programs for SMEs in South Africa, critical information required by SMEs includes: