Proposed SBA Head Linda McMahon: Young Entrepreneurs Need Better Financial Know-How

The former WWE CEO wants to make financial literacy a top priority.
Proposed SBA Head Linda McMahon: Young Entrepreneurs Need Better Financial Know-How
Image credit: Aaron P. Bernstein | Bloomberg | Getty Images

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
Staff Writer. Covers leadership, media, technology and culture.
2 min read

Linda McMahon, the co-founder and former CEO of WWE selected to be the new leader of the , said this week that she believed one of the key ways to help up-and-coming entrepreneurs pursue their ideas was to better educate them about money .

“I have kids in that don’t know how to balance a checkbook," she said during her confirmation meeting at the Senate. "We need to have that fundamental understanding of economics as we move forward to develop the next generation of young people.”

Related: Trump Chooses Pro Wrestling Magnate Linda McMahon to Head SBA

Over the course of the nearly two-hour hearing, McMahon also voiced her support for maintaining the SBA as “a standalone agency.”

Though in her second campaign for Senate in 2012 -- against Connecticut Democrat Chris Murphy, a member of the Senate Small Business Committee who is in favor of her confirmation -- she did support a plan that proposed to fold the SBA into the Department of Commerce.

Related: Meet the Business Leaders Serving in Trump's Administration

She said that if confirmed as SBA administrator, she would rely on her experience running the WWE to understand the needs of the entrepreneurs the agency would be tasked with aiding.

“I remember the early days, every month I had to decide whether to continue to lease a typewriter or whether to buy it. Yes, believe it or not, that $12 a month at that time made a difference in our budget,” McMahon said. “Like all small-business owners, I know what it is like to take a risk on an idea, manage cash flow and navigate regulations and create jobs.”

More from Entrepreneur

We created the SYOB course to help you get started on your entrepreneurial journey. You can now sign up for just $99, plus receive a 7-day free trial. Just use promo code SYOB99 to claim your offer.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.

Latest on Entrepreneur