The three-day seminar on financial management

Posted on August 30, 2010

For the purposes of the project Re-discovering Cultural Treasures of Old Royal Montenegro in the area of the business development, organized by the Centre for Sustainable Tourism Initiatives, there was a three-day seminar in Bandići from 20.08. till 22.08.2010. year.

The seminar is a continuation of the first workshop held in late July of this year and study trip to Schwarzwald, and is intended for small entrepreneurs and households with traditional production from the Old Royal Montenegro. The aim of the seminar was that attendants gain knowledge about:

• the basics of finance;
• categories of costs;
• production and organization;
• performance in a competitive market and
• financial statements (balance sheet, income statement and cash flow)

The focus of the seminar was on the fact that attendants perceive through concrete examples, of how enterprises are functioning in terms of finances and how finances can affect the success of the company. Like the previous one, CEFE methodology was used on this seminar, too.

Entrepreneurs have been evaluated this seminar as interesting and useful to them, especially in terms of better business conditions and consideration of how certain trends regarding finances in their companies can affect both the profitability and the very functioning of the enterprise. The seminar was realized by licensed coaches from the association "CEFE consulting" Montenegro: Boris Nenezić and Emil Durumbašić.

After this official educational program for entrepreneurs, each participant will present its offer during the months of September and October of this year, as part of a unique offer - thematic trails of Old Royal Montenegro. Promotional materials and web presentation will be done based on the created proposals.

The project is part of a long-term campaign conducted by the Centre for Sustainable Tourism Initiatives and is funded by the European Union contributing 90% of the total, 8% from GTZ and 2% from the Ministry of Tourism and the National Tourism Organization in Montenegro.