SLIM SME Development Awards 2024 to empower SMEs in marketing excellence and business growth

SLIM President Gayan Perera, Vice President – Event and Sustainability Dr. Dilhan Jayatilleke, SMEDA Project Chairperson Asanka Udayakumara, Head of the Jury Kumar Samarasinghe

The second iteration of the SLIM SME Development Awards (SMEDA) 2024, aimed at recognising and rewarding significant achievements among Sri Lankan Small and Medium Enterprises (SMEs) in marketing, branding, and sales, has been launched. This prestigious event continues its tradition of encouraging SMEs to embrace best practices in sales, marketing, and branding, paving the way for their evolution into mainstream businesses. 

The awards promote constructive rivalry among Sri Lankan SMEs, highlighting SLIM’s commitment to marketing as a key economic force. The competition aids organisations in developing strategies that succeed in the marketplace and resonate with consumers.

SLIM President Gayan Perera said: “The SLIM SME Development Awards embody our commitment to driving economic prosperity by empowering SMEs through marketing excellence. As the national body for marketing, SLIM recognises that SMEs are vital to our economy, contributing 52% to the GDP and providing 45% of employment. However, the sector faces challenges in commercialisation and sustainability due to limited marketing knowledge.” “Through this initiative, SLIM aims to reward and encourage SMEs to embrace marketing and branding, ensuring their growth and integration into mainstream business, thereby contributing to the nation’s overall economic advancement. On behalf of SLIM, I’m delighted to be part of the official launch of the awards this year and we look forward to the unfolding of the event,” Perera added.

Among the main awards are, Micro / Small / Medium Enterprise of the Year, Young Start-Up of the Year, and others for IT, digital and online businesses, retailing, agriculture and dairy produce, fast-moving consumer goods (FMCG), hospitality, and services, exports, business-to-business (B2B) services, textiles and apparel, construction and real estate, hardware, nutrition, health and wellness, arts and crafts, as well as other specialised sectors. The awards will also recognise the Best Innovation to Commercialisation as a special category.

SLIM Vice President – Events and Sustainability Dr. Dilhan Jayatilleke said: “SLIM takes pride in organising the second edition of SLIM SME Development Awards. As the national body for marketing in Sri Lanka, it is of paramount importance for SLIM to empower and strengthen the SME sector. Keeping that in mind, SLIM has marked a great journey for deserving entrepreneurs in these sectors. While the SMEs are recognised through various industry categories, the segment of micro-enterprises will also be duly recognised at the same stage, whereby SLIM believes that they will get the necessary encouragement to reach the next level. I would like to invite deserving enterprises to come and join hands with SMEDA by sending your applications, so that you will be part of a great journey ahead,”

To be eligible, the entity must be a home-grown Sri Lankan company, with its size determined by annual revenue. Micro enterprises must have an annual revenue ranging from Rs. 1 million to 15 million, small enterprises between Rs. 16 million to 250 million, and medium enterprises between Rs. 251 million to 750 million. The enterprise must have been operational in Sri Lanka for at least three years, except for the “Youth Startup of the Year” category, where the requirement is a minimum of two years, with the founder being under 30 years of age at the time of entry. A distinguished panel of judges will evaluate all entrants, starting with the written submission.

SLIM SME Development Awards 2024 Project Chairperson Asanka Udayakumara said: “We understand that SMEs are the backbone of our economy, and our goal is to provide them with a platform where their efforts in marketing, branding, and sales are acknowledged on a national stage. This is a great opportunity for the SME sector to showcase their success stories. Instead of just another award ceremony, this opens up many opportunities for them to link with the SLIM and receive significant support in aspects like marketing consultancy and marketing research. Through this effort, SLIM sets a national level benchmark for all SMEs and it will help them reach the next level. SLIM also fulfils its social responsibility by organising the SLIM SME Development Awards. I invite SMEs to apply and wish them all the best.”

Head of the Jury Kumar Samarasinghe said:  “It is with great pleasure that I write this message for the launch of SMEDA 2024. SLIM continues to expand its scope to develop the marketing and sales community, recognising that uplifting standards and supporting the SME sector is also part of its responsibility, which significantly impacts the country’s economy. Over 14 different business sectors will be evaluated across 10 disciplines by an esteemed panel of judges from various industries. By participating in these awards, all applicants will have the opportunity to assess their performance and receive support from SLIM to elevate their businesses to the next level. Business success is never an accident; it is always the result of high intentions, sincere efforts, intelligent direction, skilful execution, and a passion for success. I wish SLIM and all participants great success in this important event.”

The SLIM SME Development Awards will provide a robust platform for SMEs to showcase their achievements, enhancing their sales, marketing, and branding practices.