Training for Micro, Small, Medium, Enterprises
Bohol Micro and Small Enterprises Acquire Expertise in Working Capital Management
By Mary Ruth Ochavillo. Posted on SEPTEMBER 04, 2024.
Tagbilaran City, Bohol – On July 26, 2024, twenty-seven entrepreneurs of micro and small enterprises completed a training program on Working Capital Management through the FISH Visayas Project. The program aimed to enhance entrepreneurs’ and business owners’ ability to manage cash flow and optimize resource use, with a focus on inventory management, accounts receivable, and accounts payable management.
Co-organized by the Department of Science and Technology (DOST) Bohol S&T Office and the Bohol Chamber of Commerce and Industry, the training proved to be highly beneficial, resulting in each enterprise developing a personalized working capital management plan. These plans included actionable steps, timelines, and designated personnel responsible for implementation.
A comprehensive toolkit was provided to participants to facilitate ongoing working capital management. This practical resource included a customizable cash flow forecasting template to help project future cash flows based on historical data and planned activities, essential for anticipating cash needs and planning for potential shortfalls.
Additionally, an inventory management checklist was provided, offering a systematic approach to controlling inventory levels. It included guidelines for determining reorder points, calculating safety stock, and monitoring inventory turnover ratios.
A receivables management spreadsheet was also included, allowing participants to efficiently track accounts receivable, create aging schedules, and follow up on overdue accounts. To support financial analysis, the toolkit featured a financial ratios calculator for computing crucial metrics like the current ratio, quick ratio, and working capital turnover ratio.
This training program equipped enterprises with the necessary guidance and tools to effectively manage their cash flows, integral to their overall business operations. Looking ahead, the FISH Visayas Project will implement the second phase of the training, focusing on Product Costing, Pricing Methods, and Strategies.
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The Training for MSMEs on Working Capital Management aspires to achieve Result Area 1: Training for Fishermen and MSMEs of the FISH Visayas Project.
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