Thursday, March 28, 2024 | Ramadan 17, 1445 H
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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

New series of ‘Calculate it Right’ workshops launched

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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 over by 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, 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.


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