New wave of REDpreneurUA participants mastering financial literacy
Participants in the third group of the REDpreneurUA program master the basics of taxation and accounting, taking into account the specifics of social entrepreneurship.
“Participants of the third cohort of the REDpreneurUA program delved into the topic of taxation and accounting for entrepreneurial activity, with a focus on the unique characteristics of social enterprises,” the Ukrainian Red Cross Society (URCS) reported on Facebook on Wednesday.
Social enterprises, like any other business, must comply with tax regulations. However, they often operate with grant funding, engage vulnerable groups, provide non-commercial services, or combine both commercial and social activities. That is why program participants learn how how to record income and expenses, including when receiving grants; which risks to consider to avoid errors in financial reporting; how financial transparency can help build trust and attract partners.
The training is delivered in collaboration with the School of ME, a school of mindful entrepreneurship that teaches Ukrainian entrepreneurs to think strategically, act ethically, and scale their ventures responsibly.
The REDpreneurUA programme is implemented by the Ukrainian Red Cross in partnership with the Austrian Red Cross and with support from the Neighbour in Need Foundation (Austria).