Financing of SMEs and micro-enterprises (3 months)
The program addresses financial analysts from banks or other financial institutions, the SME / corporate departments (both sales, analysis and risk) as well as financial consulting companies working with SMEs and micro-enterprises, managers or CFOs of SMEs, who want to acquire specific knowledge of financial analysis in their work and investment, especially the funding the activity / investment from external sources (both reimbursable and non-reimbursable). This course is also intended to economists / financial analysts working in a different field who want to obtain a specialization in financial analysis of SMEs.
Micro, small and medium enterprises – concept, development, impact
- Definition of SMEs and SME classification
- Structure of SMEs: evolution in time and structure of the SME sector, both in Romania and at EU level;
- The effect of the crisis on SMEs: the situation insolvencies in Romania;
- The contribution of SMEs to economic growth and their performance at macroeconomic level;
How to set up a business?
- Presentation of the European / national framework to support entrepreneurship education;
- Navigate the steps of setting up a business: the necessary formalities and developing a business plan;
- The follow-up approach after the establishment of the company;
Capital: size, structure, solvency
- Capital structure and differentiation of assets;
- Analysis of solvency;
- Alternative methods of estimating the cost of capital;
- Define and analyze the weighted average cost of capital and marginal;
- Financial Leverage and determining optimal capital structure;
The working capital rotation of assets and treasury of the enterprise
- Calculation of working capital and short term financing needs;
- Analysis of the rotation of fixed capital in current assets;
- Analysis of the company’s liquidity;
- Defining the treasury of the enterprise;
- Cash flow and and forecasting cash receipts and payments;
Evaluation of investment projects
- Calculation of the necessary investment project;
- Estimation of cash flow available during the investment project;
- Using the alternative project selection criteria: net present value, internal rate of return and recovery period;
- Calculate the breakeven of the project;
- Alternative scenarios and sensitivity analysis of the project;
Traditional funding sources
- Bank financing: SMEs’ access to bank financing and identifying bank financing for SMEs;
- Lending decision: general eligibility criteria for loans and qualitative and quantitative analysis to be credited; rating companies according to NBR regulations; clauses in loan agreements;
- Non-bank financing: microfinance, specialized financing and other types of financing;
European funds and government support for SMEs
- Finance for SMEs EU funds 2007-2013, focusing on POS-CCE, POSDRU, POR
- Steps for obtaining a grant application; application; assessing and approving applications for funding of projects; rules to be complied with in project implementation;
- Perspectives of 2014-2018 EU funds;
- National programs for financial support (including de minimis aid schemes);
Types of guarantees
- Presentation and details of the main types of collateral and the impact of the provisions of the New Civil Code;
- Description of the principles of evaluation / eligibility of collateral;
- Guarantee mixes on types of customers and transactions;
- Mechanisms of guarantees and counter-guarantee dedicated to the SME segment.
The course include two study periods:
– The individual training period consists of deepening the theoretical knowledge included in the course materials and the bibliography attached thereto. Materials will be sent electronically at the beginning of the training. During the individual training, students can ask the course organizer questions about the content of the materials studied. The answers to the questions will be provided by the lecturer during the course.
– The class training period (1-2 days, depending on the course), according to a preset schedule, is the actual delivery of the course by the lecturer (deepening the theoretical notions, case studies, examples, simulations, etc.) and evaluation of knowledge throughout and at the end of the course.
The necessary registration documents:
Registration form, copy of ID card, copy of baccalaureate/bachelor degree.
Participants will receive at the end of the course a certificate of graduation.
For the course fee and other details please contact us by phone or e-mail.
For more information regarding the programme and attendance procedures, please contact us at e-mail: roxana.ivan@ibr–rbi.ro; tel. no.: 021/327.50.87, 0372.394.453, 0748.886.839, fax: 021/327.50.86.