GUST Practicum students have completed the pre-incubation module between March 5th and 14th at the GFC.
GUST Practicum program is meant to sculpt students towards unlocking their entrepreneurial potential and providing them with the essentials of starting a business. The pre-incubation module recently incorporated in the Practicum program is themed “Writing Business Plans – Financials” and is conducted at the GFC. The module is designed to prepare students in preparing practical financial projections for their business idea/venture.
The program mainly focused on the points below:
1- Classify costs correctly (fixed, variable, capex, opex etc.)
2- Prepare valid assumptions regarding costs/future income
3- Prepare realistic prorate income statement based on the assumptions
4- Estimate future cash flows and prepare a cash flow statement
5- Identify possible sources of funding and amount needed
6- Calculate payback period
The module was delivered by Cubical Services Business Incubator and experts from the financial industry Mr. Abdallah Al Hasawi and Mr. Saud Al Subaie.