Doha: Bedaya Center for Entrepreneurship and Career Development (Bedaya Center), a joint initiative by Qatar Development Bank and Silatech, in collaboration with the renowned ‘Bait al Mashura Finance Consultations’, successfully concluded a workshop, which highlighted the importance of feasibility study and ways of conducting and preparing it.
The workshop was live streamed via the interactive zoom video communications platform.
During the workshop, a certified Consultant at Bait al Mashura Finance Consultations, highlighted the importance of concept review and vitality of the economic feasibility study, and harped on its content, the steps needed for preparing it, the importance of acquiring the skills for formulating pilot studies. He also highlighted the basics of market studies and what it includes, in addition to reviewing the technical nature of the projects and how to prepare the financial studies to reach positive results by identifying the target audience.
The representative of Bait Al-Mashura Financial Consulting explained that the economic feasibility study contributes to analyzing the extent to which the idea or project can be implemented through an organized research mechanism, as the main objective is to confirm the project’s technical, financial and market feasibility aspects.
Talking about the workshop, Abdulla Faleh Al Saeed (pictured) - Board Member and General Manager of Bedaya Center, said, “Entrepreneurs and SME owners are the most important groups that must be fully aware of the importance of feasibility study, through which it is possible to collect relevant information to make important decisions that will impact the launch and management of any given project, in addition to identifying the potential challenges that the business may face in the future."
"Most importantly it will have direct effect on securing the capital and funding of the project because the investor is significantly interested in the proper management of the project, indicating the scope of success. Thanks to the cooperation with Bait al Mashura Finance Consultations, we were able to provide basic information to entrepreneurs to start their business with correct and deliberate steps,” he added.
Established in 2011, Bedaya Center for Entrepreneurship and Career Development works as a facilitator to enable startups, SMEs and entrepreneurs enhance their competitiveness, strengthen their innovation capacity and promote the entrepreneurial culture in Qatar. Bedaya Center continuously strives to provide Qatari youth entrepreneurship services by organizing several basic skills training workshops to help launch their own business. The Center holds several monthly activities and annual conferences to facilitate the youth reach their professional and entrepreneurial goals by developing their skills and abilities and setting goals and work plans.
