NCCSL Business Promotion Fund to develop SMEs

The National Chamber of Commerce of Sri Lanka (NCCSL) recently launched a "Business Promotion Fund" to develop and upgrade SMEs islandwide with emphasis on tsunami affected SMEs in the Hotel Sector.

The program seeks to support SMEs engaged in potentially viable and sustainable business activities to develop and upgrade their businesses to a higher level, thus enabling them to make a significant contribution to the economy of the country.

In line with the Government's initiative to develop Industries in the Regions, the program will give preference to SMEs in the less developed regions, whilst Women Entrepreneurs will also be targeted for assistance. The program is supported by the Government of the Netherlands.

The NCCSL, founded in 1948, has emerged as one of the leading Business Chambers in the country, representing virtually the entire spectrum of Business from Industry to Agriculture, Trade and Services.

The Chamber has in the past several years, developed a specific emphasis towards the SME sector and conducts an ongoing program to develop and uplift this sector to enable them to integrate into the wider economy. This recent initiative is aimed at strengthening SMEs islandwide in view of the pivotal role the sector plays in the economy of the country.