Union Bank initiates regional SME capacity building program

Having identified the importance of Small and Medium Enterprises (SMEs) to the national economy, Union Bank has dedicated over 20 years of customised financial expertise to this sector. Today, as a fully-fledged commercial bank serving a diverse clientele, Union Bank continues its efforts to empower the SMEs island-wide, serving their unique financial needs with an enhanced range of financial solutions bundled with value additions; such as knowledge forums designed to educate and develop skills of this significant client segment.

Facilitator Dr. Aminda Methseela Perera conducting the forum; on right are the participants at the forum held at Rajana Reach Hotel, Kuliyapitiya

 Union Bank’s SME knowledge forums are conducted with the aim of developing the skills, knowledge and competencies of entrepreneurs; and are customised to each locality in order to apprise them of emerging new opportunities within the region and the markets in which they operate. 

The bank concluded a successful workshop in Kuliyapitiya recently, as a part of a nationwide series of workshops planned for the year. The event was received with great enthusiasm and was attended by close to 100 entrepreneurs representing diverse sectors such as agriculture, industrial manufacturing and wholesale/retail trading. Interactive knowledge sharing sessions were conducted at the forum by Dr. Aminda Methsila Perera, Senior Lecturer of the Faculty of Business Studies and Finance at the Wayamba University of Sri Lanka. 

The topics discussed at the session included insight on current market conditions, overview of the economic environment and emerging investment opportunities/challenges, knowledge on business management, principles of marketing and tactics to grow market share along with wealth creation techniques for businesses and individuals. The workshop concluded with an evening of fellowship, where the entrepreneurs from diverse industries in the Kuliyapitiya region were able to share views and network with each other.

Given the bank’s deep roots in SME Banking, Union Bank firmly believes that SMEs lend the much needed stimulus for economic growth in the country. With a rich heritage in SME financing and in line with the national policies that focus on SME development, the Bank is fully geared and committed to help this sector to maximise the opportunities in the market. 

Therefore, strengthened by the global investment giant TPG, today as a fully-fledged commercial bank, Union Bank has initiated these knowledge building forums in a bid to help Lankan entrepreneurs overcome the emerging challenges of conducting business. In this challenging business environment, the bank believes in continuous support to the SME sector by way of advisory services using both expertise available within Union Bank and outsourced faculty. The bank hopes to further develop and extend these workshops to strategic locations across the country throughout this year. 

Amongst the products and services offered to SMEs by Union Bank are both long and short term financing facilities and specific commercial banking facilities needed by the sector, which range from working capital financing to other low cost credit facilities. 

Union Bank is amongst the highest capitalised private commercial banks in the country, and is a fully fledged commercial Bank offering a comprehensive product portfolio to serve the retail, SME and corporate sectors.