In collaboration with the renowned “Bait al Mashura Finance Consultations”, Bedaya Center for Entrepreneurship and Career Development successfully concluded a ‘pricing’ workshop for small enterprises. The workshop was live streamed via ZOOM to limit the spread of the coronavirus.

During the workshop, Mohamed Fahmy, Development and Training Consultant at Bait al Mashura Finance Consultations, defined the concept of entrepreneurship as a process of launching a new product to provide a specific service that meets the market’s needs for profit.

Fahmy explained that the pricing process is the method that the project owner follows to determine the value of the products or services offered to the customer. Hence, one must be familiar with the basic concepts of pricing to choose the best strategy, enabling the entrepreneur to achieve success.

According to Fahmy, every entrepreneur has a set of goals that needs to be met when establishing a project. Understanding the pricing process is an essential step to meet those goals. The pricing must be based on a business plan reflecting a feasibility study before the project start; ensuring the continuity of the project, high-profit margins and a stable increase in market share.

The workshop mainly highlighted the importance of a pricing strategy concerning a business plan, comparison of goods and the types of costs and their impact on profit and price. It helped the participants understand that the concept pricing involves many variables surrounding the product and logistics.

“At Bedaya Center, we always strive to contribute to enrich the experiences of entrepreneurs in the small enterprise sector, by providing workshops that guide them, refine their spirit and develop their skills.”, said Abdullah Faleh Al Saeed, Board member and Acting General Manager at Bedaya Center.  

He stated that the workshop had successfully addressed the difficulties faced by entrepreneurs when reaching choosing a pricing strategy for their products or services. Moreover, he expressed his gratitude to Bait Al Mashura Finance Consultations for their expertise and services in conducting the workshop.

Abdullah Al-Dereai, Head of PR at Bait al Mashura Finance Consultations, said, “We at Bait al Mashura Finance Consultations are delighted to cooperate with Bedaya Center in this initiative that aims to support and develop entrepreneurship in the State of Qatar, especially in light of the exceptional circumstances that the world is witnessing, which has had a great impact on the performance of projects as a whole”. He believes that this workshop will help entrepreneurs diversify their sources of income, one of the core strategic pillars in Qatar National Vision 2030.

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