In line with its new strategic course to increase productiveness and financial impression
The Chief Executive of the Kingdom’s Labour Fund (Tamkeen), His Excellency, Husain Mohamed Rajab, emphasized Tamkeen’s job in the federal government-led economic recovery program and employing the nationwide priorities said in it, by means of activating partnerships and initiatives that purpose to foster economic progress and produce excellent chances for regional expertise.
This was emphasized as part of Tamkeen’s start of the new teaching application “Financial Management” in partnership with the Bahrain Institute for Banking and Finance (BIBF), designed to give complete teaching courses for 500 Bahraini business owners in its to start with period. This is in line with Tamkeen’s ongoing attempts to really encourage enterprises to concentration on good results and efficiency, as nicely as expanding Tamkeen’s training and development support to include things like both equally staff members and business enterprise entrepreneurs which will enable enterprises achieve their company objectives and greatly enhance their general performance, consequently increasing their contribution to the progress of the private sector.
His Excellency said: “This initiative will allow entrepreneurs to address essential worries which effect lengthy-expression accomplishment, and which are not constrained to fast market place variations or technological problems. There are substantial gaps and constraints in administration and economical preparing capabilities in organizations, and so this teaching method was intended to deliver entrepreneurs with realistic advisory on an person foundation in which every participant will be specified the opportunity to have their economical designs studied and audited, thus attaining useful information and learning tactics that they can apply for their enterprise.”
In addition, his Excellency highlighted the great importance of combining financial and technological support with advisory guidance to guideline business people by their progress journeys. He mentioned: “We are frequently doing the job to deliver alternatives that cater to all those fully commited to escalating and improving their organizations which results in a good effect on the national economic system.”
For his portion, the BIBF’s Director Dr. Ahmed Al Shaikh, mentioned “We are pleased to be section of this strategic partnership with Tamkeen in this national initiative that aims to build and enrich the abilities of Bahraini entrepreneurs, enriching their small business acumen by furnishing specialized and useful administrative and monetary schooling through the Monetary Management education software to receive the expertise important to accomplish steadiness and continuity, in addition to checking out new progress chances for their firms.”
He additional: “the initiative aims to aid business people establish their economical, management and technical capabilities. It represents a comprehensive coaching alternative for entrepreneurs to help them build their abilities which contributes to raising the performance and achievement of the personal sector, in addition to enhancing the competitive abilities in the area market place, in the end supporting the non-public sector and the countrywide overall economy as a entire.”
This initiative targets entrepreneurs and micro, little and medium organization proprietors that are hunting for specialised coaching chances to establish their abilities and knowledge in entrepreneurship and economical management. This coaching will help individuals to control their enterprises additional successfully and proficiently by setting correct strategic designs to cater for every business enterprise in accordance to its sector, dimensions, and expansion stage.
Through this initiative, the entrepreneurs will take part in an considerable coaching method for a range of capabilities, extra specifically around monetary and strategic setting up, danger evaluation, industry gap assessment, as perfectly as pinpointing chances for enlargement, funding, investment decision and additional. The system will merge theoretical understanding with useful working experience via conducting 1-to-1 advisory periods which offer each individual entrepreneur with advice to optimally employ these techniques and designs in their business.
Business owners can reward from this initiative as a result of Tamkeen’s Train Me Application. Further aspects concerning the application and registration course of action will be declared by Tamkeen’s social media channels in thanks study course.
This announcement is amongst many initiatives launched by Tamkeen to support small and medium enterprises in line with the Kingdom of Bahrain’s direction. The assist is facilitated via collaborations with a variety of non-public and general public sector entities these types of as the SME Enhancement Board and aims to improve Startups and SMEs capacities to improve their competitiveness in regional, regional and global markets in addition to rising their exports, contribution to the GDP, and the employment possibilities they offer you for Bahrainis in just the non-public sector.
This initiative follows Tamkeen’s current transformation strategy which resulted in the start of 16 assist packages with the goal of reaching greater financial effects in the national financial system. Furthermore, it is in line with latest market place improvements and is element of Tamkeen’s mandate to empower people today and enterprises to add to national economic improvement, via improving productiveness, using neighborhood talent, and investing in all sectors while concentrating on high likely sectors in alignment with the nationwide economic recovery prepare.