National Finance, Sharakah extend tie-up to develop SMEs

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National Finance, the leading diversified non-banking finance company in Oman, has completed a series of ‘Calculate it Right’ workshops for small and Medium Enterprises (SMEs).

This was done in partnership with Sharakah, helping SMEs enhance their financial management and planning skills. The initiative was carried out under ‘Imtidad’, the company’s independent wing for Corporate Social Responsibility for the Fourth consecutive year.

The sessions covered various aspects of financial management, such as project costs and sales assumptions. About 184 participants attended the five workshops that were held in Musannah, Sur, Nizwa, and Muscat.

New initiative

Following the feedback gathered from the participants, National Finance and Sharakah have extended their partnership to launch a new initiative that will help six local micro and small enterprises improve their businesses. The programme, which is known as the SME Growth Programme, will provide them with a comprehensive package of financial management and marketing strategies. Spanning over a period of 12 months, the companies will identify areas where the local businesses can improve their operations and make them more profitable. They will then implement effective strategies and procedures to improve their business.

Ali Ahmed Muqaibal, Chief Executive Officer of Sharakah said: “We believe that the new programme will equip business owners with the necessary skills set in financial management and planning. To assist these small businesses, Sharakah will deploy its Business Performance Monitoring Tool (BPMT), an industry-standard monitoring tool, along with other tools such as the Risk Assessment (RAT) to help improve the overall business profitability.”

Tariq Al Farsi, Chief Executive Officer of National Finance said: “It is important for us to help develop businesses that are prospering and competing within the local market. We continue our partnership with Sharakah in order to help SMEs and home-based businesses elevate their operations with the right guidance and support, enabling them to be more resilient and successfully deliver their products and services as per the standards required.”

National Finance offers a wide range of products targeting both individual customers and SMEs through its 21 branches across the sultanate.