Kickoff Meeting: INVEST – Financial and Forecasting Models for Entrepreneurs

Kickoff Meeting: INVEST – Financial and Forecasting Models for Entrepreneurs

MBB has formed part of a consortium of partners on the Erasmus+ project INVEST. The partners have pooled in their various areas of expertise to develop a training model to support micro-entrepreneurs, aged 18 to 34 (also known as Generation Y). This will enable entrepreneurs to make responsible economic, financial and investment choices, in function of their business growth plans and development perspectives.

The challenges faced by entrepreneurs in their attempt to gain access to finance accentuate the relevance of this project.  Such challenges mainly arise from the entrepreneurs’ lack of confidence and lack of financial literacy, which may go on to hinder their capability to make investments and manage their financial assets.

The project partnership includes the Mediterranean Bank Network (Malta), Association EFFEBI (Italy), Eurocrea Merchant (Italy), IDEC (Greece), Bridging the Future (UK), Inqubator Leeuwarden (the Netherlands) and the Malta Business Bureau.

The ultimate goal of this project is to improve financial literacy, thus helping micro-enterprises stay stable on the market, foster local economies and support further employability.

In order to achieve this, the projects wants to develop:

  • a training model addressing the main topic of financial literacy to boost entrepreneurs’ capacity to undertake responsible financial choices;
  • training contents adapted to the needs of the target group and which will be made available online, free to use;
  • tools/instruments needed to boost financial competences through the use of edutainment methodology;
  • transparency and recognition tools; and
  • ECVET in order to ensure transfer of competences, transparency of learning outcomes and clearness for the learner.

To date, the project partners have collectively developed and disseminated a survey questionnaire (which can be accessed here). The outcome of which will establish the current level of financial literacy among entrepreneurs.

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