Posted on August 23, 2016

The Bedaya Center for Entrepreneurship and Career Development (Bedaya Center), a joint initiative by Qatar Development Bank and Silatech recently hosted its second Sunday monthly workshop. The workshop's focus was on “Financial statements for startups” and was aimed at helping entrepreneurs understand basic finance to support their business. 

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The monthly workshops organized by Bedaya Center focus on supporting young Qataris and providing them with guidance, training, support and offer them the needed proficiency and practical experiences. Through this month workshop, Bedaya Center sought to enable entrepreneurs to understand and prepare a profit and loss statement for their projects. This was done by using templates that helped in forecasting sales figures and managing monthly as well as annual “profit and loss” expectations.

Reem Al-Suwaidi, General Manager of Bedaya Center, commented: "Through these monthly workshops, we seek to highlight the important methods and approaches that aim to provide and promote SME growth in Qatar. These workshops have become very popular among entrepreneurs interested in starting a business or enhance their existing businesses.” “On a monthly basis, we aim to tackle new topics that enhances and develops the skills of our attendees by bringing together experts and pioneers from diverse fields and industries. This helps entrepreneurs refine their kick start or expand their businesses."

Speaking on the occasion, Mahmood Al Mahmood, Entrepreneurship Advisor at Bedaya Center said: "most entrepreneurs face difficulties in calculating their sales figures and profit and loss statements both on a monthly or annual basis. Therefore, Bedaya strived through this monthly meeting to shed light on the challenges faced by entrepreneurs. We also sought to provide a better understanding on the basics of how to calculate the profit and loss for a business through models as well as templates and guided them on how to prepare budgets for the continuity of their businesses."