In a continuous effort to equip entrepreneurs with the essential skills for success, the Start Smart Entrepreneurship Center, an initiative by Community Jameel, recently hosted its “Financial Management Lab” in Jeddah. The event, held at Dar Hussein Jameel, is part of a specialized series of labs designed to enhance the practical capabilities of founders and support the growth of emerging companies across the Kingdom.
The Financial Management Lab aimed to empower entrepreneurs and SME owners with the critical knowledge needed to manage their businesses with high financial efficiency, fostering sustainability and scalability. The initiative successfully reached 582 participants, with 85 entrepreneurs receiving specialized one-on-one consultations.
A Practical Approach to Financial Mastery
The lab featured several interactive tracks to bridge the gap between financial theory and practical application. This included insightful sessions led by financial experts from Abdul Latif Jameel, who discussed key topics such as financial planning, cash flow management, and tax compliance.
The program also incorporated group mentorship sessions, allowing participants to apply financial concepts directly to their own ventures in small, collaborative working groups. Individualized guidance was provided through one-on-one sessions, offering tailored advice based on the specific needs of each entrepreneur’s business.
Driving Sustainable Growth for SMEs
Officials emphasized the strategic importance of financial acumen in building resilient businesses that contribute to the national economy.
Dr. May Taibah, a member of the Board of Trustees of Community Jameel Saudi, commented, “We believe that financial empowerment is one of the most important pillars for the sustainability of small and medium-sized enterprises. Through the Financial Management Lab, we seek to give entrepreneurs the tools and knowledge that help them gain a deeper understanding of the financial aspects of their projects, which positively reflects on their growth and long-term stability.”
Adding to this, Mohammed Abdulghaffar, Senior General Manager of Entrepreneurship and Community Initiatives, stated, “The Financial Management Lab is an extension of Start Smart Center’s commitment to developing the skills of entrepreneurs in various operational aspects. We are working to build an integrated system of labs that combines theoretical knowledge with practical experience, allowing participants to turn ideas into effective financial practices.”
Building a Comprehensive Support Ecosystem
The Financial Management Lab is the latest in a series of knowledge-based initiatives by the Start Smart Center aimed at strengthening the Saudi entrepreneurial landscape. It follows other successful programs, including the “Social Media Lab,” the “AI Lab,” and the “Start Smart Competition.” These efforts align directly with the goals of Saudi Vision 2030 to empower entrepreneurs and increase the contribution of startups to the national economy.
About Start Smart Center
The Start Smart Center is the dedicated entrepreneurship hub of Community Jameel Saudi. It focuses on developing the practical and operational skills of founders and SME owners through a series of specialized labs, competitions, and mentorship programs. The center is committed to fostering a robust entrepreneurial ecosystem in Saudi Arabia by providing entrepreneurs with the tools and knowledge necessary for sustainable growth.
Source: Sabq
