Businesses with strong financial management capabilities are better able to overcome obstacles that may surface in the pursuit of growth. To grow, it is imperative that entrepreneurs and SMEs develop such capabilities and continuously enhance them so that they are well-positioned to weather storms and capitalise on opportunities.
This workshop is designed for business owners / entrepreneurs operating in SMEs. It is suitable for those with little or no financial management knowledge or background.
- At the end of the workshop, participants will be able to:
- Increase knowledge and enhance capabilities in financial management for SMEs.
- Identify key business planning concepts (using the Stone Forest Model for Growing Businesses) through case studies and examples.
- Apply business planning concepts to the corporate planning process.
- Understand the importance of improving business processes.
- Understand KPIs and how to implement them in SMEs.
- Understand working capital cycle and apply business techniques to improve cash conversion cycle in times of uncertainty.
- Understand the top 5 business risks SMEs face in the operating environment and the controls used to address these risks.