CIMA, IDB sign MOU to foster SME growth

CIMA Sri Lanka and the Industrial Development Board (IDB) signed a memorandum of understanding (MoU) recently, entering into a partnership which will help develop the entrepreneurial and business skills and knowledge of Small and Medium Enterprises (SMEs) island-wide.

IDB Chairman Udayasiri Kariyawasam and CIMA Regional Director Bradley Emerson signed the document at the CIMA Sri Lanka division, entering into a partnership which will help develop entrepreneurial and business skills and knowledge of SMEs island-wide

Contributing to over 80% of the country’s GDP and up to 35% of employment, SMEs make a significant contribution to the local economy.

The Government has recognised this and considers the SME sector a key driver of the country’s economic development agenda.

In order to help the sector grow and fulfil its potential, CIMA and the IDB are collaborating on a series of workshops, titled ‘Enriching SMEs’, dealing with the practical business issues they face.

The tailor-made workshops will be targeted at SMEs around the country identified by the IDB, and will focus on specific areas in which assistance and information are required.

In line with CIMA’s mission of helping people and businesses succeed, this initiative aims to bridge the knowledge gaps that restrain development.