National Finance holds 3rd ‘Calculate it Right’ workshop

MUSCAT: ‘Calculate it right’ workshop series continued in Oman Chamber of Commerce and Industry (OCCI) – Nizwa branch. These series of workshops come as a result of a cooperation agreement signed between National Finance Company and Fund for Development of Youth Projects (Sharakah).

These workshops are aimed at making business owners had better understand how to calculate project cost, sales assumptions, required resources, operational expenses and the cost of capital.

The workshop in Nizwa was presided by Ahmed bin Said Al Hadhrami, Nizwa Shura Council Member who handed over the workshop completion certificates to the participants. Mohammed Al Marzouki, Senior manager, National Finance said in appreciation of the cooperation agreement between Sharakah and National Finance, “The workshop had an overwhelming response as 60 business owners registered to attend. The participants expressed their appreciation of the workshop outcome. Indeed, our objective is to contribute to enhancing the skills of the business owners.”

Nasser Al Ghanboosi, National Finance Nizwa Branch manager added, “Calculate it Right is a half-day workshop that takes the participants through a challenging yet informative session of how to plan their business financial model. The ultimate objective of the workshop is to help those who are planning to start a business understand the exact requirements they will need and to project realistic financial (sales & expenses) figures”

Imtithal Al Riyami, Project Specialist at Sharakah, explained the importance of these workshops saying, “The challenges many startups face when starting a business in many cases 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.”

‘Calculate it Right’ workshops series will be held across Oman in cooperation with National Finance branches. The link to the registration form and further instruction will be available on social media account of Sharakah and National Finance. National Finance Company is a leading finance company in the Sultanate of Oman. Established in 1987, and headquartered in Muscat, it has 12 branches across Oman and offers a wide range of leasing, credit and other products to corporate and retail customers with a focus on SMEs.