E-Finance Training Programme

Target objective:  This programme is for SMEs who want to understand basic components of finance to improve on the management of their businesses. The course will also focus on questions that SMEs need to consider before deciding to get involved in existing online marketplace platforms.

The programme will be organised into four stages:

Cost Calculation: It will assist participants to identify the various costs involved in their day-to-day operations, grouping the costs into various categories and assessing their impact on their business profits. Support will be provided to properly identify the costs involved in their business.

Price Calculation: this will guide participants to know their pricing objectives, identify factors that affect pricing, different pricing strategies related to their objectives and how to compute the price of their products. Insight on how to negotiate for prices.

Budgeting: participants will be shown different types of budgets as well as budgeting methods. SMEs will be supported by ongoing coaching to develop budgets for their businesses and how to monitor the budgets.

Tax: participants will get to know their tax benefits, reliefs and exemptions, types of taxes, be guided on how to fill their returns, records to keep and tax registration process 

A readiness assessment checklist will be developed to screen participants at the beginning of the course. This will have a double effect: on one end allowing trainers and participants to have a clearer view of the participants’ knowledge and on the other end to measure the improvements they make from attending the course.

Target programme participants:

Participants will be Small and medium enterprises operating in the following processing sectors: cassava, fruits (mango and pineapple) and cosmetic production (mainly shea butter-based products and natural oils).

Overview of the programme:

The training programme is organised in a number of modules, covering the following themes:

• Cost calculation – know your costs;
• Cost classification;
• Product pricing;
• Types of budget;
• Budgeting methods and budget preparation.

The programme will be targeting 20-25 companies per batch covering the 3 WACOMP value chains (fruits, cassava and cosmetic products).

SMEs will be requested to submit intermediate assessments and group works to facilitate exchanges on common issues.

It will be delivered through different supports and techniques (webinars, videos, case studies analysis, coaching sessions, exchanges, etc.)  and will consist of an approximate online training time of 15 hours, followed by approximately 20 hours between coaching sessions, exercises and group discussions.

On this programme we will work with you to improve your business management and equip you with skills looking at:

• • Cost calculation
    • Know your costs
    • Cost classification
  • Price calculation
    • Product pricing
  • Budgeting

• • • Types of budgets
    • Budgeting methods, preparation and monitoring

• Tax

• • Tax Planning Strategies

It will be organised into four phases:

• Phase 1: Cost calculation
  Learn about the different type of costs that affect your business, how to classify them, how they affect your business and cost management strategies.
• Phase 2: Price calculation
  Understand different pricing strategies, how to build appropriate prices for your products and when to use different strategies. Price negotiation skills
• Phase 3: Budgeting
  Acquire skills in different types of budgets, budgeting methods and how to monitor the budgets.
• Phase 4: Tax

Learn about tax benefits/reliefs/exemptions, tax types, record keeping, registration process, filing of tax returns and payments 

The programme will be delivered using a selection of techniques, from webinars, online courses, practical activities, group work and coaching sessions. A commitment of approximately 4 hours a week for 4 weeks is expected.

Coaching sessions on practical issues will be provided, besides the pure online training sessions.

This programme is suitable for you if you:

• Are an SME working in one of WACOMP Value chain (mango, pineapple, cassava and cosmetic products)
• Are serious about managing the finances in your business
• Want to acquire skills to grow your business
• Are ready to make a commitment to learn and invest some time and energy
• Want to improve your bottom line and thereby get ahead of your competitors

We will assess your level of competence, readiness and plan your journey through the programme. You will need to successfully complete each phase before moving onto the next one.

The programme is only currently open to 20 to 25 companies.

Step 1: Register your interest in this programme by filling in the E-Finance Readiness Questionnaire, which will assess your suitability to take part in this programme. This will take approximately 10 minutes to complete.

Step 2: If successful, you will be contacted by the WACOMP team

Step 3: You will be required to make payment of a small fee to NBSSI as part of your commitment to the programme (SMEs registered with NBSSI will gain 50% reduction)

Step 4: Application deadline is 18.02.2021

Step 5: Start of the training programme: 5.03.2021