Financial management key to successful businesses: SMEDA

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LAHORE: Financial management is the main driving key to run a successful business. It was unanimously observed by the speakers while addressing a seminar on ‘Accounting and Finance Challenges faced by Business Start-ups’, organised by the Small and Medium Enterprises Development Authority (SMEDA) for women entrepreneurs here at the regional office of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on Monday.

Corporate General Solutions (CGS) and the FPCCI were the supporting partners of SMEDA in organising the seminar, which was addressed by CGS Executive Director Fiza Imran, FPCCI Member Azmat Javed and SMEDA Deputy General Manager Tania Buttar.

The women interested in becoming entrepreneurs attended the seminar in large numbers from Kinnaird College, Jamia Naeemia and a number of other institutions. Representatives of Women Chamber of Commerce and Industry, Womnex, Handicrafts Association, Home.net and FPCCI were also present.

Speaking as key speaker, Fiza Imran said that financial management affects every aspect from managing cash flow and tracking business performance to developing the plans that ensured successful exploration of the business opportunities.

While sharing his experience of doing business, renowned young businessman Azmat Javaid said that skill to manage accounts and finance could save a business from unexpected financial losses. He said that financial management needs of an entrepreneur continually evolve with the growth of a business.

DGM and Head Women Entrepreneurship Department Tania Buttar, in her address, informed the participants that the government as well as top management of SMEDA was committed to enhancing economic empowerment of women in the SME sector. Meanwhile, SMEDA Chief Executive Officer (CEO) Sher Ayub, in a media statement, pledged to expedite the efforts for women empowerment in the country through SME development programmes.