Date: July 31, 2017
Zubair Small Enterprises Centre (Zubair SEC)’s ‘Tajribati’ monthly session discussed the importance of managing cash flow effectively and the steps that can be taken to achieve that.
Elaborating on the topic for the month ‘managing cash flow’ Jamal Al Wahibi, Head of SME – Corporate and Institutional Banking Group, Oman Arab Bank explained how good sense of cash flow will help SMEs and start-ups keep their business running smoothly and mitigate the risk of cash shortages and the financial and business downturns that could result accordingly.
Speaking at the session Jamal Al Wahibi discussed with the attendees best practices in having early and structured planning and management of their cash flow; he shared with them practical insight and examples of success stories as well as examples of defaulting incidents due to poor cash flow management.
The session was very engaging and dynamic; moderated by Zubair SEC advisors, attendees shared some of their own experiences and insight and discussed with the speaker many of the challenges they face in regard to managing cash and sustaining its flow.
Members of Zubair SEC and SME owners who attended the session said that they understood that in order to be able to maintain a healthy financial profile, it is crucial for them to put in place sound cash flow management practices for themselves.
“We realised that sound cash flow can offer security against market unpredictability and possible setbacks in the future. It was an extremely informative session. We thank Zubair SEC for organising it and choosing an experienced speaker to talk to us,” a member said.
Ali Shaker, Business Advisor at Zubair SEC said, “Managing cash flow is by far one of the most critical challenges faced by all types of businesses. If not managed well, results could be very difficult to reverse. As such, and while working with our members, we realised it was a good timing to discuss this topic and share experiences in this regard by some of our members, while benefiting from valuable guidance by our guest speaker Jamal Al Wahibi”.
He added, “Proper management of cash flow is key to the sustainability and survival of any business, especially in times of high uncertainty and market turbulences”.
Zubair SEC’s ‘Tajribati’ series serves as a unique platform to connect specialists with start-up owners and new entrepreneurs to exchange views, discuss common challenges and share best practices.
Zubair SEC has held several workshops in the area of financial management, cash flow management, and defaulting. Given the importance of such topics, the Centre plans to hold further workshops to keep building capacity of its members in this very critical area.