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Cost Analysis & Expense Reduction
Grant: Cost Analysis & Expense Reduction
Some SMEs in Qatar are not well equipped for doing proper costing of their products / services. They either make a loss (in the case of underpricing) or are unable to sell (due to overpricing) which results in un-sustainable losses leading to distress and / or business failure. Hence, this product aims to provide Minha to these companies to equip them with applying proper costing methods which could mitigate sustainable losses and allow them to be more competitive in the market
Some SMEs in Qatar are not well equipped for doing proper costing of their products / services. They either make a loss (in the case of underpricing) or are unable to sell (due to overpricing) which results in un-sustainable losses leading to distress and / or business failure. Hence, this product aims to provide Minha to these companies to equip them with applying proper costing methods which could mitigate sustainable losses and allow them to be more competitive in the market
What does it offer?
- Minha shall cover the cost-of-Service Provider to deliver the below:
• Phase I: Costing Analysis - covers readiness assessment through the following stages
o Discovery stage
o Benchmarking stage
o Analysis stage.
• Phase II: Expense Reduction - covers readiness review through the following stages:
o Analysis stage
o Research and data gathering stage
o Selection and implementation stage
Note: client may not be eligible for Phase II based on the outcome of Phase I. Hence, each phase shall be billed and agreed upon in separate contracts and transactions, all within the maximum value of Minha
Benefits
- • Support SMEs to calculate the exact cost of a product or service using appropriate costing methodology.
• Break-down the total cost of product/Service into individual components to identify cost saving opportunities.
• Help with pricing the product or services as per the market prices while covering the costs adequately.
• Use past data along with the outlook reports to give a direction of costs.
• Identify all potential cost items which should be provided while negotiating long-term supply contracts.
• To Help in assessing actual financing required for working capital or for undertaking a new project.
Frequently asked questions
FAQs
What are the requirements?
• Valid ID
• Valid CR
• Audited Financial Statements for past year
• Additional information requirements form
• Valid CR
• Audited Financial Statements for past year
• Additional information requirements form
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What are the eligibility criteria?
• All sectors are eligible except (Real estate, construction and Trading*)
*For trading businesses, the support will be given only if the revenue of the company is divided into trading activities and services activities, in which the services activities compromise of at least 30% of total revenues.
*For trading businesses, the support will be given only if the revenue of the company is divided into trading activities and services activities, in which the services activities compromise of at least 30% of total revenues.
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