09/10/2019
The first session of the “Calculate it Right” workshop series conducted by National Finance and Fund for Development of Youth Projects (Sharakah) was held recently at the National Business Center, Knowledge Oasis Muscat. As a part of its Social Investment Program, National Finance, in collaboration with Sharakah, is conducting a series of workshops named “Calculate it Right” across the Sultanate. This is the second consecutive year that the workshops are being held at all the major cities of the country. The workshops, which is Sharakah’s copyright, covers the basis of starting a business and aim to help business owners better understand financial requirements and how to calculate project cost, operational expenses, sales assumptions, required resources and the cost of capital in order to properly understand the profitability.
The practical workshop in Muscat was presided by Mr. Juma Al Khamisi, General Manager-Support, National Finance, who handed over the workshop completion certificates to the participants.
Faris Al Harthy, Sharakah, Senior Projects Specialist, delivered the interactive workshop where he explained the challenges business owners face when setting up or running a business. He commented that in many cases it is related to lack of proper understanding of how to build their financial model and sales assumptions. “Business plans in general are built on very optimistic assumptions which are in many cases neither realistic nor directly related to the capacity of the company to produce/provide a service at desired level” he added.
‘Calculate it Right’ is a full-day workshop that takes the participants through a thought provoking, yet informative process of how to develop their business financial model. The ultimate objective of the workshop is to help those who are planning to start a business and existing businesses understand the exact requirements they will need and to project realistic financial (sales & expenses) figures.
Mr. Juma Al Khamisi, General Manager-Support, National Finance said in appreciation of the cooperation agreement between Sharakah and National Finance “We are delighted to partner with Sharakah in conducting these workshops all over the Sultanate. Through the program, we aim to enable SMEs and business owners to understand how to manage their business by providing insights on cashflow management and cost control. National Finance is committed to the growth and development of SMEs in Oman.and we highly appreciate Sharakah’s efforts in executing the workshop.”
The workshop was organized with the support of National Finance team in Muscat. More than 25 business owners attended the workshop which was both engaging and educating. A total of 10 Calculate it Right workshops will be held in various regions of Oman over the coming 9 months. The registration form will be available online. The link to the registration form and further instructions will be available on social media account of Sharakah and National Finance. Those who are interested to attend should follow the hash tag #Calculate_it_Right.
National Finance is the largest Finance and Leasing Company in the Sultanate of Oman. With 20 branches strategically located across the country and a diverse product suite, National Finance brings finance closer to the neighborhood of its Customers.