Samba Financial Group has concluded a training workshop for the small and medium enterprises (SME) sector, conducted under the umbrella of SME Kafalah Program for financing SMEs, in coordination with the Chamber of Commerce and Industry in Riyadh. The workshop was attended by a group of entrepreneurs from the SME sectors, who intend to start launching their businesses in various productive sectors.
The three day initiative undertaken by Samba covered a series of topics aimed at enriching the intellectual capabilities and professional expertise of SME owners through knowledge sharing programs and training initiatives approved by the World Bank's IFC. The workshop dealt with the foundations, principles and management of businesses, motivation of performance, as well as a comprehensive review of operating plans and programs, mechanisms of analyzing market trends and opportunities survey, measuring competitor capabilities, and other pivotal themes to ensure the best professional practices for the enterprises, in line with international standards.
The workshop also provided the participants, who included 25 trainees from SMEs, a detailed presentation on the sound principles of business accounting and financial performance, including how to build projects' economic feasibility, analyze income and financial statements and study growth opportunities in a way that enhances the efficiency of an entity's financial performance and its relevance to the requirements of funding bodies for the purposes of obtaining the necessary funding to develop the projects and extend their scope of work.
Samba Financial Group provided a presentation on the Saudi economy, given by its highly experienced national senior officers, detailing its growth fundamentals and factors affecting its performance, along with definition of promising investment opportunities in the local market. The workshop featured the participation of a Samba client, a businessman who highlighted his successful business experience within the SME sector, in a move that had a remarkably catalytic reaction on the participants.
At the end of the workshop, His Excellency Mr. Mohammed Bin Abdel Moneim Hammouda, Head of SME Kafalah Program for financing SMEs, delivered a speech congratulating the participants for launching their own projects, and for their attention during the workshop and willingness to gain knowledge to enhance their professional performance, wishing them success in building their own projects so that they become role-models in the Kingdom's SME sector. He also applauded Samba's efforts and its vital role in hosting this workshop, as well as its support and contribution to the development of an effective SME sector.
It is worth noting that Samba Financial Group gives special attention to SMEs, as this sector enjoys many initiatives and programs directed at their development and aimed at supporting their owners. Credit facilities granted to SME owners has witnessed a steady increase in recent years, as well as a wide range of training programs and workshops adopted by the bank aimed at deepening the knowledge, skills and professional practices of SME owners.