IDB, CIMA management training workshop for SMEs

Wednesday, 4 September 2013 00:00 - - {{hitsCtrl.values.hits}}

The Industrial Development Board in partnership with CIMA Sri Lanka recently conducted a management workshop for Small and Medium Entrepreneurs (SMEs) with focus on educating and developing the skills, knowledge and competencies of the entrepreneurs. The event saw successful participation of all secretary divisional entrepreneurs in Colombo district.

The initiative was a direct result of IDB and CIMA Sri Lanka recently signing a MOU to help develop the entrepreneurial and business skills and knowledge of SMEs countrywide. The IDB said that SMEs are the backbone of all economies and are a key basis for economic growth, dynamism and flexibility in advance industrialised countries, as well as in emerging and developing economics. Globally, SME’s contributes more than 50% to Gross Domestic Product (GDP) in developing countries whereas in Sri Lanka the rate is nearly 75%. SMEs island wide contributing to over 80% of the country’s GDP and up to 35% employment and 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, dealing with the practical issues they face. In line with CIMA‘s mission of helping people and business succeed, this initiative aims to bridge the knowledge gaps that restrain development. IDB conducts comprehensive SME workshops conducted with focus on educating and developing the skills, knowledge and competencies of the entrepreneurs across the country. These workshops are designed to enlighten entrepreneurs on making best use of the many emerging opportunities. The topics discussed at this workshop include SME economic theories of helpful for business decision, industrial sector contribution for the Sri Lankan economy, government services on Industrial sector and contributing entrepreneurs to the state policy making as well as solving problems of business. Currently the IDB Colombo district branch has planned to implement other workshops for both existing entrepreneurs and new entrepreneurs in the Colombo secretary division. At these workshops the IDB will look to pass on its knowledge in energy conservation, management training programs and industrial training such as the process of producing LED bulbs and TIG-MIG welding technology as well. Attending entrepreneur workshops will be an excellent way for entrepreneurs to get the information they would need as well as network with the right individuals. Interested entrepreneurs can contact the Colombo district IDB branch for further information via 011-2815009 or visiting - www.idb.org.lk.