In September 2023, One to Watch organized three master classes as part of the BUILD project, connecting SMEs in Suryabinayak with Nepali business industry experts. The primary goal was to bridge knowledge and networking gaps. These master classes focused on helping SMEs navigate emerging trends in business accounting, marketing, and regulatory compliance. They also served as tools for reflection, aiding SMEs in identifying gaps in their current business practices and communicating their specific development support needs.
SMEs often lack reliable accounting and bookkeeping practices which impacts their ability to manage their business’s financial health and inhibits their ability to access business loans. The first master class prompted the SMEs to reconsider how they recorded, analyzed and leveraged their cash and credit data to make informed business decisions and emphasized on the importance of implementing optimum cash and credit information management systems. The master class was conducted by CA Kailash Pandey, and CA Sushant Bhattarai.
The second master class introduced SME owners, who still rely on traditional marketing methods, to the latest trends in social media marketing. Rahul Shakya, an expert in product and brand development, facilitated participants in identifying their brand's unique selling points and provided insights into content creation and platform strategies for achieving quick digital marketing wins.
In the master class on Business Law and Regulatory Compliance, SMEs were connected to One to Watch’s expert partners in corporate law, arbitration, banking, lending and finance. During the master class, business owners were provided with in-depth insights on compliance mechanisms that must be adhered to minimize legal risks, to establish a strong legal foundation to support business growth, and to safeguard business interest and intellectual property.
The BUILD project is providing business development support services to 20 SMEs in Suryabinayak Municipality. The master classes serve as both knowledge-sharing and networking platforms, playing a crucial role in helping SMEs probe into their special business needs.