Sri Lanka’s first trilingual guide for SMEs debuts

Thursday, 23 February 2012 00:36 - - {{hitsCtrl.values.hits}}

SMEs, the key driver of Sri Lanka’s industry sector and set to drive country’s future manufacturing growth, have received a new boost. “The majority of the enterprises in Sri Lanka are small and medium scale enterprises and their contribution to the development of national economy is significant. Our aim is to support the small and medium scale entrepreneurs,” said Minister of Industry and Commerce Rishad Bathiudeen.

Minister Bathiudeen’s announced this to the officials of his Ministry having launched Sri Lanka’s first trilingual Small and Medium Enterprise Guide Book 2012 published by National Enterprise Development Authority (NEDA) under his Ministry on 19 January at the Ministry of Industry and Commerce auditorium, Colombo.

“National Enterprise Development Authority (NEDA) published Small and Medium Enterprise Guide Book (SME Guide Book 2012) to fulfil entrepreneurs requirement. This book is also the operational manual for SME to sources of information in financing, technical assistance, commercial bank extended loan schemes and other relevant attributes. I am glad to note that NEDA has taken steps to publish the small and medium entrepreneurs Guide Book 2011 in all three languages, Sinhala, Tamil and English. The 2009 edition was published only in Sinhala and English,” Minister Bathiudeen said. “I am pleased to extend our support to the national SME strategy under the development vision of the President Mahinda Rajapaksa,” Minister Bathiudeen added.

SMEs in Sri Lanka often find themselves without proper access to finance or credit made available by country’s banking sector. The Ministry of Industry and Commerce is also of the belief that for better access to banks, the sector should also be given awareness on the various financing schemes available to SMEs and the result is the 2012 Guidebook.

The Guide, which is made available free of charge, is a comprehensive directory of various financial and loan schemes made available to SME entrepreneurs by Sri Lankan banks, and assistance available from supporting institutions such as the Chambers, NIBM, BoI, Sri Lanka Standards Institution, the Ministry of Industry and Commerce and its NEDA, and even the state sector administrative office – the Divisional Secretariat Office.