FUNIBER coordinates the European proposal on financial literacy for entrepreneurs

FUNIBER coordinates the European proposal on financial literacy for entrepreneurs

The Final Resolution of the Directorate of the Spanish Service for the Internationalization of Education (SEPIE, Spanish Acronym) published last Monday, March 1, includes the proposal led by FUNIBER as one of the selected applications on financial education for entrepreneurs.

This is the FINANCEn_LAB project, an Erasmus + project on entrepreneurial financial education, which will be carried out between 2021-2023 with the participation of the Alexandru Ioan Cuza University (UAIC, Romania), the Jan Kochanowski University (UJK, Poland), the TVW GmbH company (Germany), the “Cámara di comercio Italo-Lussemburghese” (Luxembourg), and the Centro de Investigaciones Industriales de Cantabria (CITICAN, Spain).

Financial education among the adult population remains one of the unresolved issues in the European Union. According to recent statistics, more than half of the adult population in certain EU countries (Poland, Romania, Portugal, Spain, or Italy) are financially illiterate. Financial literacy and entrepreneurial intentions are interrelated, as explained by Trunk and Dermol (2015). Entrepreneurship is impossible without the right financial skills. As one of the solutions, business education must be improved and extended to more groups beyond schools and economics faculties.

The main proposal of this project is to create interactive digital tools that help the final beneficiaries (potential and current entrepreneurs) to develop the skills and acquire the necessary know-how to effectively apply for a finance and manage their financial situation.

The project will also deploy actions to empower university professors and entrepreneurial educators. Thus, the project will reach the following segments of people: university students, entrepreneurs, teachers, start-up incubators, and financial agents for an estimated total of 840 direct participants and an additional 14,600 others reached online.