National Finance And Sharakah Initiative Conclude ‘Calculate it Right’ Workshops

Muscat: National Finance, in collaboration with the Fund for Development of Youth Projects (‘Sharakah’), concluded the series of ‘Calculate it Right’ workshops recently as part of its Corporate Social Responsibility for the second consecutive year.

The initiative focuses on enabling entrepreneurs to gain the right skills in financial management and proper resource planning.

A total of 10 workshops were conducted using two different phases of learning style. The first six non-virtual Workshops were successfully carried out in Q4 of 2019 and Q1 of 2020 in 6 Willayat which included Al Seeb, Ibra, Nizwa, Barka, Sur, and Sohar.

The second phase of the workshops was conducted virtually via the Advanced Zoom Platform in Q3 2020.

The total number of attendees reached 250 from across Oman including other countries like UAE, Saudi Arabia, and Algeria. The virtual Calculate-It-Right workshops enabled to attract a wider reach of interested attendees within Oman, across the borders, and internationally.

‘Calculate- it -Right’ workshops look into the fundamentals of financial management for Small and Medium Enterprises (SMEs), which includes calculating projects’ costs, sales assumptions, and proper resources allocation.

The workshops received positive feedback from its participants, said Khalid Al Harthy, one of the attendees. “The workshop is one of the well organized and effective workshops that I have attended. It is filled with valuable information and practical examples. I recommend everyone who is in the process of planning for a new business to attend.”

Marwa Al Mushafri, another attendee added, saying: “By attending the workshop, I had the opportunity to learn the importance of formulating the concept of ​​the project and converting it into a realistic idea that can be implemented. In addition to identifying the project’s strengths and weaknesses and apply better practices in times of crisis. Moreover, it is critical to make sure the project is fulfilling a missing need in the targeted market.”

Nawaf Al-Harthi added, saying: “The workshop focused on aspects related to identifying resources required to manage businesses using case studies and practical examples to calculate costs and sales. I absolutely enjoyed the workshop, and I look forward to attending more similar workshops in the future.”

Mr. Ajit Vasudevan, Head of Retail at  National Finance, said: “National Finance is delighted to sponsor the series of ‘Calculate it Right’ workshops for the second consecutive year.

“We have seen the impact of the program in the 1st year, hence we decided to carry the program forward. The main purpose of this series is to enable and educate entrepreneurs with the proper financial management skills to apply in their businesses.

“Moreover, it gives an opportunity for participants to network with other business owners and have direct contact with well-experienced institutions in the field such as National Finance and Sharakah.”

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.