Training in "Hunting money – financial and business plan” Kucove, Albania
During May 28th – 29th, 2020 SHFWH has organized the eighth training of marginalized youth in entrepreneurship “Hunting money – financial and business plan” as a part of its project “Create opportunities for employment and self-employment of marginalized youth” under WeB4YES project – Western Balkan Civil Society Organizations for Youth Employment Support.
60 marginalized youth aged 16-30 years of urban and rural areas of Kucove, Albania have participated in the training. Youth came from families in need especially from rural families and Roma and Egyptian community.
The project coordinator Tefta Mala gave a short presentation of the aims of the activity and introduced youth with the planned training sessions in entrepreneurship skills. The training was held in a more spacious facility, in the second part of the day because of local and national rules of safety due to COVID 19 emergency.
The training was held by national CEFE expert Ylldise Brahimaj, and aimed to inform and instruct participants on:
Working capital and financing plan
The crucial importance of working capital in business, in particular when starting up
The relation between need for finance to sources of financing, including their necessity to allocate own capital = equity
Important elements of the Business Plan
Prepare an Income statement, and deliver it with limited resources
Developing a better understanding of the convincing elements of a cash flow and profit and loss
The training used CEFE methodology combining informal and formal methods especially brainstorming, team work, exercises, role playing and interaction. All 60 youth were actively involved throughout the training and they gained skills in calculating working capital and prepare a financing plan, in preparing a business plan, calculating cash flow, profit and loss.