IPS, Oxfam launch a new study on promoting female entrepreneurship in Sri Lanka

Tuesday, 27 May 2014 00:00 - - {{hitsCtrl.values.hits}}

Despite half of the population in Sri Lanka being women, their active participation in the economy is relatively low. In Sri Lanka, females account for 69% of the economically inactive population – highlighting that there is a large untapped reservoir of manpower that can be utilised for the development of the country.

The Institute of Policy Studies of Sri Lanka (IPS), the country’s apex economic policy think tank, along with Oxfam GB Sri Lanka, recently launched ‘Female Entrepreneurship and the Role of Business Development Services in Promoting Small and Medium Women Entrepreneurship in Sri Lanka,’ a research publication looking at the need to promote female entrepreneurship through Small and Medium Enterprises (SMEs), with a special focus on access and availability of women-friendly Business Development Services (BDS). The publication was launched at the premises of the IPS, with Dieneke van der Wijk, Deputy Regional Director Programs Asia for Oxfam GB gracing the occasion as the Chief Guest. Paul Joicey, Associate Country Director for Oxfam GB Sri Lanka and N.M. Shahied, Chairman and Director General of the National Enterprise Development Authority (NEDA), and several other dignitaries were also present at the occasion. Delivering the keynote address of the event, Dr. Saman Kelegama, the Executive Director of the IPS, highlighted the role of women as a key driver in achieving sustained economic growth in Sri Lanka. He also pointed out the importance of SMEs – a vital source for socio-economic growth in a nation, in attracting more females into the labour force. As pointed out by Dr. Kelegama, lack of a clear definition for SMEs, constraints in access to finance and technology, inconsistent economic policies are some of the barriers that hinder the growth and expansion of SMEs in Sri Lanka.Speaking on the occasion, Dieneke van der Wijk reiterated the importance of strengthening the female entrepreneurship in Sri Lanka. She also noted that this study enables them as the Oxfam GB to think about the policy frameworks that will positively or negatively impact on the women, and to engage on how they can take their work to the next level. Key findings of the publication were presented by IPS Research Officer, Sunimalee Madurawala. She highlighted that there is low labour force participation of women in Sri Lanka, even though there is high gender parity in terms of education and health. Madurawala also emphasised on the need to examine the socio-cultural barriers that hinder women’s progression to SME sector. The event also comprised a Q&A session which discussed issues including the role of media in raising awareness of SMEs, and how private sector can be involved in investing in BDS. Delivering the concluding remarks, IPS Research Economist, Anushka Wijesinha, highlighted how the Government who has the mandate for SME development and has the national reach, can use the expert knowledge of the private sector in effectively promoting BDS in Sri Lanka. This joint publication by IPS and Oxfam aims to provide policy level recommendations to increase women entrepreneurs’ access to BDS, and also identifies national-level strategic priorities for stakeholders to work with the aim of promoting economic leadership and enterprise culture among women. The publication can be accessed online by visiting http://www.ips.lk/research/highlights/highlight_archive/2014/entrepreneurs.pdf.