Business owners understand their business and are usually good at explaining what it is they do and why their product / service is worth choosing over a competitors. Yet many of the same business owners are uncomfortable in describing the financials of their business as they do not feel they have the capability to do this adequately.
When it comes to seeking to raise finance for their business, many are unsure of the range of options which are open to them and are also unsure of how any application for finance will be assessed.
ManagementWorks, an initiative of Skillnets Ltd., will shortly launch its “Building Financial Capability in SMEs” programme which is designed to help the owner managers of small and medium sized businesses from all sectors, including farming, to better present their business case when seeking finance for their business.
This new programme will be delivered by training and financial professionals experienced in working with SME owners. It will be delivered throughout the country in 2014 and is funded by the Department of Jobs, Enterprise and Innovation.
Building on the success of the ManagementWorks model, this new programme will combine 2 one day workshops with up to 20 business owners and 2 one-to-one mentoring sessions in private for each business. The cost to each participant (including all materials and refreshments) will be € 250 excluding VAT.
The programme will:
- Raise your awareness of the sources of finance available
- Increase your confidence and ability to discuss your firm’s finances
- Increase your confidence and ability to make a case for securing finance for your business
- Increase your understanding of how banks are assessing credit applications in a non-asset backed application
- Raise your awareness of how the Credit Review Office might assist your business in the event that an application for credit is declined
For information on the full range of ManagementWorks programmes please click here.