Year - 2020

National Finance, as part of its Social Investment Program, continues the series of ‘Calculate it Right’ Workshop in collaboration with Fund for Development of Youth Projects (Sharakah) across the country. The sixth session of the “Calculate it Right” workshop series was held last Tuesday at the Youth Training Center in Sur, As Sharqiyah South . This is the second consecutive year that the workshops are being held at all the major cities of Oman. Similarly, the workshop was held in January at the Radisson Blu in Sohar, Al Batinah North. The emphasize on enhancing the skills of human resources in the country makes it vital for corporate initiatives to focus its efforts towards the same. More importantly, SMEs are expected to play a key role in the economy’s growth. The initiative aims to enable and equip enterprising entrepreneurs with the right knowledge to help shape their business’s success.
The workshops, which is Sharakah’s copyright, covers the basis that helps 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 program is open to new owners looking for guidance on how to begin and even experienced owners who are looking to hone or improve their financial planning
The two workshops were coordinated with the support of National Finance team in both Sur and Sohar. Six out of a total of ten Calculate it Right workshops have been completed and the initiative will continue across different governates of Oman. Information for the coming workshops and registration form 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
In partnership with BP Oman, Sharakah has selected the final 15 local small and medium enterprises to benefit from Khazzan for SMEs Development Programme. The total number of applications received for this batch of the programme was 214 applications with 105 completed applications and 109 incomplete applications. Where 80% of the completed applications were male applicants while only 20% were females. The highest number of applications received was from Muscat with 101 applications, while the lowest number of applications was from Musandam and Dhofar with 2 applications respectively..
Sharakah has recently conducted an orientation workshop introducing the programme and its milestones for the selected 15 SMEs for Khazzan for SMEs Development programme. The workshop was attended by representatives from Destination Sustainability, a local business that follows up the implementation of the programme, along with the selected SMEs.
It is worth mentioning that Sharakah and BP Oman signed an agreement last October to launch the fifth version of Khazzan for SMEs Development programme. The programme is a result of the previous four years of collaboration with BP Oman in developing Omani SMEs as part of their Social Investment programme that aims to support the growth of the Omani SMEs.
The applications received were filtered based on the criteria announced on the website. Preference was given for Riyada card holders. As well as those who have completed at least one year in the market.
Shamsa Al Rawahi, Social Investment Manager of BP Oman, commented saying: ‘In BP Oman we invest in entrepreneurs and start-ups to support the vibrant Small and Medium Enterprises (SME) Sector in Oman. Through Khazzan for SMEs Development Programme we also try to create a link between our social investment initiatives and the supply chain of BP Oman. We hope that this programme addresses the topics of need to the targeted SMEs’
Halima Al Ryiami, Senior Project Specialist at Sharakah commented: “Khazzan project for SMEs Development aims at evaluating and assesing the performance of the 15 SMEs for a period of 12 months. We received applications representing different sectors of the Service sector (46%), the Trading Sector (37%), and the Manufacturing Sector (17%). We wish them all the best and we trust on their abilities to develop for their business growth”