STEP RI Science and Technology Park of the University of Rijeka Ltd, with the support of the U.S. Embassy Zagreb, is organizing the project Women in Finance (WIF) which tackles the problem of low financial literacy of women entrepreneurs and aspiring entrepreneurs.
The project will last from May to November 2018 and during that period, Step Ri will organize four workshops in five Croatian cities:
- City of Krk – May
- City of Delnice – June
- City of Vrbovsko – September
- City of Buzet – October
- City of Novi Vinodolski – November
How to read financial statements
The main financial statements (balance sheet, income statement, cash flow statement, tax return etc.), taken as a whole, give to the entrepreneur a complete picture of the financial condition and results of their business and of their potential business partners. During the workshop, the participants will learn how to read them and understand the meaning of the reports.
Basic financial management of the entrepreneurial activities
The understanding of the financial statements gives the entrepreneur the capability to determine if the company needs additional investment, in what amount, and if it is a business decision that needs to be considered in order to survive or to scale up the business. During the workshop the participants will learn more about the importance of a positive cash flow, about the various types of financial resources and funding options that can solve the need for additional investment (available bank loans, leasing, EU funds, incentives, business angels, venture capital etc.) and will be able to resolve whether they are a wise business decision at a given moment.
Pricing – the only source of revenue
Pricing is the only revenue generating element in the marketing mix, and it is also the only element that can be quickly and easily changed. That is the reason why it is really important for companies to learn how to set the right price and avoid underpricing or overpricing. During the workshop the participants will learn about different pricing tactics and strategies and how to set the right price for their product or service.
Preparing a good project proposal
There are many financing opportunities available to women entrepreneurs in Croatia (EU based funding, state aid etc.) but in order to get them it’s necessary to write a project proposal that meets all the requirements set by the call. This workshop is an intensive introduction to the project proposal writing process. The participants will learn the basics of proposal writing, including successful approaches and the “do’s and don’ts”. Questions that will be covered: how to develop and present the idea, how to ensure your proposal stands out, ticking the right boxes (using the right terminology), collaborative working methods – a truly joint proposal, etc.
The project will last from May until December 2018 and will finish with the “WIF Meetup” which will be organized in Rijeka with the aim to present the results of the project and the web page www.aurora.hr, to show some of the best practices developed in the US regarding the support of female entrepreneurship, and to bring together women entrepreneurs that will have the possibility to book prearranged B2B meetings and create new business opportunities.
Step Ri has, through the application form on the webpage http://www.step.uniri.hr/women-in-finance/ provided a possibility to send an expression of interest for participating in workshops.