The project "Finance for New Generations," organized in collaboration with the Croatian Banking Association and the European Investment Bank, continues to provide young entrepreneurs with the tools and knowledge necessary for success in a challenging business environment. So far, nine workshops have been held, each focused on key aspects of business, including financial literacy, cash flow management, and the importance of correctly interpreting financial statements.

At the last workshop held on September 23, 2024, the lecture was delivered by Hrvoje Serdarušić, an experienced business advisor and finance expert. Through his presentation, Serdarušić conveyed the importance of understanding basic financial documents such as the balance sheet, income statement, and cash flow statement. He explained how these statements are interrelated and how they can provide a detailed insight into the company's operations, which is crucial for making sound business decisions. Additionally, he highlighted the importance of distinguishing between the terms revenue and income, as well as how to accurately assess the difference between expenses and outlays.

The importance of discounted cash flow and proper planning

Discounted cash flow (DCF) was one of the key topics Serdarušić discussed, with a particular emphasis on its application in assessing business value. Young entrepreneurs often have misconceptions about the difference between short-term revenue and long-term success, and DCF is a tool that can help them understand the true value of their company. Serdarušić also emphasized the importance of amortization and depreciation, key concepts in finance that often confuse entrepreneurs at the beginning of their careers.

These workshops, in addition to technical knowledge, provide networking opportunities, which are crucial for young entrepreneurs. Many participants highlight how the workshops are extremely beneficial as they allow for the exchange of experiences with peers and the receipt of advice from experienced professionals. For example, during a workshop held in April, Natalia Zielinska, an expert on EU funds, spoke about the importance of understanding the logic of EU funds and how entrepreneurs can effectively access these resources to develop their projects. Her interactive lectures provided participants with deeper insights into financing opportunities through funds, which is a key step in the further development of young entrepreneurs' businesses.

Practical tips for entrepreneurs

Alongside financial topics, the project also addresses practical aspects of running a business. Mirela Španjol, a rhetoric and public speaking expert, emphasized the importance of presentation skills in the business world. In her workshop, which was also part of the program, participants learned a range of techniques to improve their communication abilities, which are directly linked to success in sales. "Take the microphone in your hands," was her key message, highlighting that the skill of presenting is crucial for achieving business success, especially for small entrepreneurs.

The project continues, and the next workshop, which will take place on October 7, 2024, will focus on the topic of brand building and sustainable business practices. It will be led by Manuela Šola, an entrepreneur and owner of the Communication Laboratory, who will share her experience on the importance of laying the groundwork for long-term success through building a recognizable brand. This workshop will be an opportunity for all participants to expand their knowledge and better understand how to maintain a business on stable foundations in a competitive market environment.