CCC to hold first-ever National Forum for SME empowerment

Wednesday, 13 August 2014 00:10 - - {{hitsCtrl.values.hits}}

By Waruni Paranagamage The Ceylon Chamber of Commerce (CCC) intends to organise and conduct the first-ever National Forum on Small and Medium Enterprise Empowerment (NFSMEE) on 13 and 14 October, at the Hilton, Colombo. The aim of the forum, which the CCC intends to make an annual event, is to create a great platform in order to establish a SME development unit at the CCC, in order to facilitate the SME sector in Sri Lanka. The role that the SME sector plays in any emerging economy is significant for economic growth, employment generation and wealth distribution. With the 2013 Budget allocation, the Government allocated money to develop programs in the SME sector such as providing training and capacity development.

Government institutes carried out programs for women’s entrepreneurial development, having identified the lack of entrepreneurial capacity as a prime reason for the failure of SMEs to meet their financial obligations. It also facilitated export development programs for SMEs to find export markets. In 2013, increased focus was given to develop the technology-based SME enterprises in the country. However, access to financial solutions for the sector is still a barrier. The CCC intends taking the lead on behalf of all stakeholders including the banking sector, in terms of meaningful initiatives to create a framework that will enhance, empower and uplift the SME sector in Sri Lanka. CCC Solutions Ltd. Managing Director Chandula Abeywickrema said that the affordability of finance resources, delivering services to the public sectors and private and Government sector collaboration were the main barriers that the SME sector had to be overcome. “Marketing the products, quality of the products and finding buyers and sellers are also some problems SME entrepreneurs are facing. We want to create a CCC hub to overcome the barriers facing the industry,” Abeywickrema said. He said that under the guidance of the district chambers, entrepreneurs islandwide could participate in the forum to collaborate with financial and other links to make a central platform to represent them. The forum will feature eight sectors: SME sector capacity building, supply and value chain linkages, market creations, productivity and quality standards, strategic information sharing and lobby and advocacy. Representatives from the Central Bank and Ministries of Finance, Economic Development, Industries and Commerce, Traditional Industries and Small Enterprise Development and Science and Technology will participate in the forum. Private sector participants include the World Bank, IFC, ADB, GIZ, UNDP, ILO and the Asia Foundation. CCC Chairman Suresh Shah said: “There should be collaboration between the private and Government sectors to enhance SME sector entrepreneurs so we invite islandwide small-scale entrepreneurs to contact the district chambers and participate in the forum to reap the benefits.” The CCC believes that the regional chambers will address and identify specific regional issues through targeted regional forums which will be presented and discussed at the NFSMEE. The forum will create a platform which can act as a ‘one-stop-shop’ for all SME needs. The forum is open for all types of SME sector participants.