The ‘Tajribati’ session offered an overview on techniques to create technique and framework for effectual turnaround of companies that are in difficulty. It also deliberated on techniques to bring beneath-performing companies back to profitability. Shatha al Jabri, advertising director, Meshan, Adel al Abri, founder of Uniboats, a water sport gear and activity business and Abdullah Mohammed Saud al Dughaishi, founder of Gourmet Taste Sweets, who have been the crucial speakers offered individual inputs on the challenges they faced although operating their company and turnaround techniques they adopted. These 3 members of Zubair SEC have been winners of its Direct Support Programme in the previous.
The ‘Tajribati’ series serves as a distinctive platform to connect business professionals with begin-up owners and new entrepreneurs to exchange views, go over typical challenges and share very best practices. The ‘Tajribati’ discussion series organised by Zubair SEC is aimed at supporting young entrepreneurs and owners of tiny and medium enterprises.
The session on ‘turnaround strategies for SMEs’ discussed subjects such as Should SMEs stick to their original company models and preserve attempting to make them function? When does an SME require to contemplate modify in company model? What are the suggested approaches to apply a turnaround strategy and what are the function of advisors?
Ali Shaker, company advisor at Zubair SEC, stated, “We have come across situations where our members who are extremely capable, very informed in their business, finding themselves in a state where their business is struggling. That is why, we decided to focus on this topic to help aspiring SMEs develop a turnaround plan to save their businesses from crisis. When companies have established guidelines to deal with latent problems, they are prepared when faced with a crisis. Turnaround becomes easy when there is an organised, methodological and structured approach to the revival of a business that has got into troubled times.”
Information Source: Muscat Daily