The informal micro sector and small and medium entrepreneurs will soon get a “shot in the arm” to boost their businesses through a combined initiative of Commercial Bank, Sri Lanka Telecom and the program initiator CH17 Loyalty in association with the FCCISL.
For the first time, a coalition of four leading agencies who play vital roles in the facilitation of commerce and retail trade services have banded together to come up with a “unique program” to support the informal “micro” and the structured small and medium businesses.
A FCCISL endorsed Privilege Card will be issued to all those belonging to these three sectors which will entitle the card holder an array of benefits and privileges which could help boost their business.
CH17 Loyalty which has a strong base of merchants and retailers of consumer goods, durables and many essential products give concessionary offers and attractive discounts which will be passed on to the members through the SME Privilege Card.
Key among them will be Commercial Bank which will introduce a special MasterCard Debit/Credit Card dedicated to the SME Sector. In addition to the attractive services, offers and incentives given by the bank for their card holders, this specially designed card will be integrated to CH17 Loyalty Merchant network, thus giving the micro SMEs the dual benefits of concessions.
Sri Lanka Telecom (SLT) has stepped in to provide products and business solutions at highly concessionary terms to the SME sector, Special SLT packages for businesses have been developed which will be of great assistance to this community, CH17 Loyalty CEO Jumar Preena disclosed.
There are several advantages which the micro and SMEs could enjoy by joining this program.
They are: Recognition by the industry body – FCCISL endorsed SME membership card; benefits such as discounts and concessions on a number of essential commercial goods and personal commodities from listed merchants; SME branded Privilege Debit/Credit card from Commercial Bank; special telecommunication package from SLT; market access to identified consumer groups; B2B engagement with CH17’s business network; and knowledge sharing with FCCISL’s business development programs.
The Federation will levy a onetime registration fee of Rs.500 for small and medium business and Rs. 300 for those classified as micro. A flat annual fee of Rs. 200 will be levied thereafter.
Details of the membership program can be obtained via FCCISL or CH17 Loyalty.