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An important avenue to promote inclusive and sustainable development includes accelerating gainful participation of Women-owned/led Micro Small Medium Enterprises (WMSMEs) in the economy. WMSMEs have been identified as the backbone of developing economies and constitute a major source of formal and informal sector employment of women. Therefore, it is important to strengthen this sector and improve the participation of these enterprises in the domestic and international markets.
In Sri Lanka, spices and coir are amongst the few industries that have high female participation. This policy brief highlights the main findings from the Institute of Policy Studies of Sri Lanka’s (IPS) study on Women-owned and led Micro, Small Medium Enterprises in Spice and Coir Sectors of Sri Lanka: Constraints and Policy Options. The objectives of the study were two-fold: to identify constraints faced by WMSMEs in Sri Lanka in operating and expanding their businesses including issues related non-tariff barriers in the regional markets; and to provide policy and program recommendations to reduce the identified constraints.
Figure 1 summarises the main obstacles faced by WMSMEs in doing business, based on a primary data collection.
To provide better access to finance, the study states that it is crucial to design loans catering to the needs of WMSMEs, improve outreach of the formal institutions (through mobile services), commit to assisting WMSMEs, reduce administrative procedures, and provide alternative ways to build a credit with institutions.
While it is important to provide female entrepreneurs opportunities to participate in regional trade fairs and exhibitions to see the potential for value addition and new technologies, both public and private institutions can be drivers of new technologies. To increase their participation in trainings, they should be organised at the village level, targeting women. To increase their awareness of these programs, information can be disseminated through District Secretariat, Welfare Associations, local Chambers of Commerce, etc. while effective use of available information channels (television, radio, mobiles) can reduce the information gap.
Together with the local media, National Enterprise Development Authority, Chamber of Small and Medium Industries of Sri Lanka, and Women’s Chamber of Industry and Commerce among others can also help to lend recognition to these traditional industries and the women’s contribution. Their opportunity to network could be increased through forming collective groups at the village level. Various public and private institutions can also provide necessary assistance in terms of tax incentives and support services to improve the competitiveness of WMSMEs.
(This policy brief is based on findings from a study on ‘Women-owned and Led Micro, Small Medium Enterprises in Spice and Coir Sectors of Sri Lanka: Constraints and Policy Options’ carried out by Sunimalee Madurawala, Dilani Hirimuthugodage, Dharshani Premaratne and Janaka Wijayasiri. This publication can be purchased from Institute of Policy Studies of Sri Lanka (IPS) Head Office at 100/20, Independence Avenue, Colombo 07 or leading bookshops. For more information, contact Amesh Thennakoon l Publication Officer l Tel: + 94 - 11 - 2143107, 2143100 l [email protected] [email protected])
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