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jufaili
09-02-2011, 09:15 AM
Press Release
Date: 7 February 2011

Risk Management Workshop

Intilaaqah conducted yesterday a Risk Management workshop at the Oman Chamber of Commerce & Industry for owners of Small and Medium Enterprises (SME’s). The workshop was attended by a number of entrepreneurs and officials from relevant organizations. It aimed at explaining the importance of risk management for SME’s and outlined methods and techniques to prevent businesses from failing by providing a series of case study examples and exercises.

William Crew, General Manager, Intilaaqah who delivered the workshop commented saying “Worldwide 70% of small businesses fail in the first three years. In Oman during our 16 years of operation, we met with many small business owners and we have developed an understanding of the top reasons that lead to failure. Amongst them are lack of clear business strategy, lack of necessary administrative and marketing skills by the entrepreneur and insufficient working capital management. This workshop focused mainly on the importance of identifying business risks and ways to mitigate them.”

The participants were business owners from different industries, speaking at the workshop Mohammed Al Masroori, General Manager, North Semi Deserts Trading and Contracting said “We are delighted to have had the opportunity to participate in this workshop. The information shared were insightful and valuable. A business owner needs to keep in mind that no matter how a successful a business may be there are always external and internal factors that could lead it to fail.”

“This is one of series of seminars that we intend to do in various location and we are thankful for Oman Chamber of Commerce & Industry for being very supporting and providing all the necessary arrangements.” Commented William

For reference, Intilaaqah is a US $17million fund managed by GroFin and is one of Shell social investment initiatives aimed at encouraging the development of Small and Medium Enterprises in the Sultanate of Oman. It provides funding, guidance and business development services to existing and potential entrepreneurs.