This is alarming. 4 in 10 Canadian small business owners failed a financial literacy survey that was put together by Intuit. Bryan Jackson put this piece together in ITBusiness.ca and believe it or not – this was actually an improvement from a similar survey that was conducted in 2012. The survey results are based on a sample of 500 small business owners (with up up to 99 employees) based in across Canada. If you’re curious about taking the survey yourself – you can do it here.
Business owners in Atlantic Canada scored the best. Business owners in Quebec scored the worst. The most recent survey was completed in November of last year, which just so happened to be the month that the Financial Consumer Agency of Canada declared “Financial Literacy Month“. While FLM was aimed more at the consumer as opposed to the business owner, the point that we ALL need a refresher in our respective spheres of knowledge isn’t being lost here.