The Small Business Development Center (SBDC) has unveiled a financial
management board game to make managing businesses easier, the Centre has announced.
According to the centre, micro and small businesses are now being introduced to a simulation exercise in the form of the game dubbed ‘The Mirco Business Game‘.
The Acting Director of SBDC, Roycelyn Howell, said it represents a new option in financial management.
“It is a most practical, realistic simulation of managing a business,” Howell asserted.
She explained that the game was introduced last year following the signing of a memorandum of understanding with the German Savings Bank for International Cooperation.
“It was really to encourage our micro and small businesses to look at and understand the management of their finances in a more practical and dynamic way,” the SBDC official explained.
She said the game is like any other board game, such as Monopoly.
“We actually arrange a board where we talk to our clients and help them to experience managing their business. So the game is set out in such a way that the persons managing this business have money – physical cash to handle and they are introduced to the game by understanding the available money and how they run that business – where the money is transferred to; how it is tracked and ultimately they have to make decisions throughout that game.”
According to the SBDC official, the essential part of the game is that it allows the development of entrepreneurial skills, understanding customers and risk management.
The Small Business Development Center is running monthly sessions of the Micro Business
Game, and is encouraging persons to register.