NAMA Foundation & Academy Conclude Entrepreneurship Training Program for 19 Young Innovators, Supported by ESCWA
Nama'a Development and Microfinance Foundation, in collaboration with NAMA Microfinance Academy, has successfully concluded a transformative training program on "Entrepreneurship and Establishment of Small and Micro Enterprises." The program, supported by the United Nations Economic and Social Commission for Western Asia (ESCWA), catered to 19 young men and women, equipping them with the necessary tools to bring their innovative small business ideas to life.
This initiative is part of a broader partnership between NAMA Foundation and ESCWA, aimed at capacity building and promoting economic empowerment. The program’s primary goal is to empower youth by enhancing their participation in the labor market, thereby improving the socio-economic conditions of the broader community. It offers a comprehensive curriculum that includes vocational training in entrepreneurship, management of small and micro enterprises, life skills, and applied programs.
The training focused on developing participants' entrepreneurial qualities and life skills, enhancing their ability to manage projects successfully. Ms. Haifa Al Ansi, trainer's course, emphasized the importance of this program in building participants' capabilities, particularly in preparing initial feasibility studies and navigating various funding options. Throughout the course, participants presented and refined their project ideas, with each proposal and feasibility study thoroughly discussed and evaluated.
Ms. Haifa also highlighted the course's comprehensive coverage of essential topics, including:
* Communication and interpersonal skills for entrepreneurs
* Methods for generating and evaluating project ideas
* Keys to the success or failure of small projects, including business plan development and feasibility study preparation
* Debt management, debt scheduling, and income diversification
* Financial accounting for small businesses
* Preparing financial statements for projects
* Strategies for dealing with banks and microfinance institutions
NAMA Business Center's Director noted that this training program is one of several initiatives currently being implemented in partnership with ESCWA. She stressed the significance of this course, given its focus on critical entrepreneurial skills and financial management techniques.
Participants expressed their gratitude to ESCWA and NAMA Foundation for their support, which they believe will significantly enhance their ability to enter the labor market and succeed as entrepreneurs.
The program concluded with the distribution of participation certificates, marking the successful completion of this vital training initiative.