Financial Managment for SMEs Toolkit

This toolkit was prepared by Alaa Alazem for SPARK as a part of the Iraqi SMEs COVID-19 Response under Jobs & Perspectives Programme in Iraq.

Good financial management is critical to the success of any business. Without it, a business can be set for failure from the start. It’s not a lack of customers or products that will destroy a business – it’s a lack of cash. Therefore, financial decisions made at an early stage can be the most important, as well as the most difficult ones.

The ability to have the right finances in place and plan financial matters effectively can help a business grow and adapt to a changing economic environment.

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Sales & Marketing for SMEs Toolkit

This toolkit was prepared by Zaid Sami for SPARK as a part of the Iraqi SMEs COVID-19 Response under Jobs & Perspectives Programme in Iraq.

Without proper marketing, your business cannot have a lasting impact. Marketing gets the word out about your business. It allows you to connect with potential customers and inform them of all the services you offer. It builds brand recognition and fosters healthy competition between businesses. It boosts sales, helps you construct a consistent client-base, and helps you make your mark on the world.

Without strong marketing, it is easy to fade into the background and your business can easily disappear. With it, though, you can engage with clients and make your name known. Marketing increases your business’s overall potential, builds your reputation, and increases your reach, and is a tool that must be used in order to ensure your business is the best and most successful it can be.

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Risk Mitigation for SMEs Toolkit

This toolkit was prepared by Ranim Badenjki for SPARK as a part of the Iraqi SMEs COVID-19 Response under Jobs & Perspectives Programme in Iraq.

Uncertainties and crises in the past have had a major impact on how organizations and businesses operate nowadays. It’s because when we face a threat, we learn to adapt in order to survive, and then we set up strategies and plans to avoid or minimize our losses in case a similar threat comes back.

In Iraq, there’s a growing need for risk mitigation because SMEs operate under an unstable environment and work conditions, having to face variable threats to their businesses from political unrest, collapse in international oil prices to the most recent threat of COVID-19, all of which have created more and more challenges for SMEs to thrive.

When put into action, a risk mitigation strategy can protect your SME by minimizing the impact of such threats, allowing you to grow your business and getting you ready to face any potential challenges in the future.

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