Advocata calls for entrepreneurship stories

• Winner to receive Rs. 100, 000 and help to remove regulatory and legal barriers 

Advocata Institute recently launched a study on removing barriers to Micro and Small Entrepreneurs (MSEs) through regulatory and legislative reform. The economic contributions of MSEs are seen as one of the major driving forces pushing economic growth. However, the regulations that govern these businesses can be a deterrent.

In order to gain a deeper understanding of the issues faced by Sri Lanka’s small businesses, Advocata is launching a story competition within this study. It invites individuals to submit their 600-800 word story, be it personal or about someone they know, on the barriers faced by MSEs today. 

The stories should also detail changes to the current system entrepreneurs think are needed in order to overcome these challenges. Stories are accepted in Sinhala, Tamil, or English. The individual whose story wins first place will receive Rs. 100,000. Second place will receive Rs. 50,000 and third place Rs. 25,000. In addition, all shortlisted entries will receive valuable consolation prizes. 

The judges for this competition include Achala Samaradiwakara, Rukmankan Sivaloganathan and Anushka Wijesinghe.

Small businesses make up over 90% of the total businesses in Sri Lanka. Comprising close to 45% of total employment, they contribute tremendously to the economy. A recent survey carried out by the Advocata Institute found that some of the main barriers to entrepreneurship were sourcing finance and raw materials, as well as low sales. Out of the businesses that had not been registered, 36% reported that they had tried to register but had failed due to the complexity of the procedures involved.

Stories for the competition can be submitted through email to [email protected], with the subject ‘My Entrepreneurship Story, Name’. They can also be submitted by sharing a public post on Facebook, Instagram or Twitter with the hashtag #MystoryLK, or by sending a direct message to @advocatainstitute on Facebook or @advocatalk Instagram. Further information can be found on the competition website. More details: https://mystory.advocata.org.