NCCSL promotes SME sector

The first disbursement of the Business Promotions Fund initiated by the National Chamber of Commerce of Sri Lanka (NCCSL) in collaboration with the Royal Netherlands Government for the SME Sector was held at the Chamber auditorium recently.

The first batch of SMEs from various regions received grants ranging from Rs. 100,000 to Rs. 500,000 from this fund. The selected recipients represented enterprises engaged in rice milling, coir industry, woodworking, garments and hotel industry.

NCCSL under a special scheme set up for the SME sector under the "Grow your Business Program" provides all plant machinery,equipment for the eligible and viable small sector enterprises.

The main objective of this program, is to enhance their business activities and production output with increased sales thereby creating employment opportunities.

The increased overall activities of these SMEs are expected to provide a worthwhile contribution to regional economic development.

NCCSL expects to provide facilities to 40-50 selected entrepreneurs from various sectors of the industry representing many regions in the second phase of disbursements.