ComBank stimulates opportunities for SMEs with Trade Fair in Colombo

Nearly 200 small and medium enterprises (SMEs) from all over Sri Lanka were recently provided an invaluable opportunity by the Commercial Bank of Ceylon, to exhibit and sell their products and services in Colombo, and to engage with customers at a unique SME Trade Fair.

The two-day fair at the Sri Lanka Exhibition and Convention Centre (SLECC), Colombo 1, saw the participation of SMEs from Jaffna, Batticaloa, Puttalam, Anuradhapura, Badulla, Kurunegala, Kandy, Ratnapura, Matara, Negombo, Kalutara and Colombo, as well as eight corporate entities that provide services to SMEs and the country’s agriculture sector.

Demonstrating the possibilities offered by technology, the Bank provided an opportunity for eight SMEs to exhibit their products via a digital channel developed by ComBank LEAP GlobalLinker, a platform developed by the Bank to help businesses access global markets using digital technology. A Mobile App for the LEAP program was also launched during the inauguration of the event.

Signifying the importance accorded by the Bank to the event, the SME Trade Fair was inaugurated by Commercial Bank Managing Director/CEO Mr Sanath Manatunge, Chief Operating Officer S. Prabagar and members of the corporate management with distinguished special invitees including Commercial Bank Chairman Prof. Ananda Jayawardane and IFC Country Manager Alejandro Alvarez de la Campa, IDB Chairman Dr. Saranga Alahapperuma and the Institute of Certified Management Accountants (CMA) President  Prof. Lakshman Watawala.

The Bank said the SME Trade Fair and Exhibition not only provided an opportunity for SMEs to showcase their products to a wider audience, it helped them to find potential buyers, source new suppliers, study other similar products in the market and the prevailing market dynamics, and to meet exporters to make their products export-ready.

Additionally, the Bank had set up an industry helpdesk manned by representatives of the Bank as well as Government institutions such as the Industrial Development Board (IDB), Export Development Board (EDB), Sri Lanka Standards Institution (SLSI), Sri Lanka Sustainable Energy Authority (SLSEA), Central Environmental Authority (CEA) and National Engineering Research & Development Centre (NERD) and private institutions like Bureau Veritas and Safo Consultancy Ltd.to provide advice to exhibitors and visitors.

An exporter hub at the location was used to connect local producers with exporters to help strengthen export value chains under the Bank’s ‘Diribala’ exporter development program. The Bank said 12 large scale direct exporters volunteered to negotiate with suppliers, and over 30 local producers were given an opportunity to meet exporters with their product samples and get advice.

A novel element to the event was the participation of about 25 students of the School Entrepreneurship Club of Yasodara Balika Maha Vidyalaya, Gampaha, who exhibited their products, obtained valuable insights from experienced SMEs and utilised the networking opportunities with the exhibitors.

Three awareness programs were conducted under the topics ‘Managing Business for Start-ups’ by the Central Bank of Sri Lanka Deputy Director S.D.N. Chamindini, ‘Strategies for Business Resilience and Renewal’ by Master Trainer Ismail Azeez, and ‘Sustainable Entrepreneurship’ by the Good Market Co-founder Achala Samaradivakara.

This was the second SME Trade Fair organised by the Bank. The first was held in March 2022 at Diyatha Uyana on the same lines.