SMEs in the North and the East need stable market

The Sri Lanka Chamber of Small and Medium Industries (SLCSMI) which supports the development of small and medium sector entrepreneurs has no associate branch to develop SMEs in the North and the East.

SLCSMI President Aloy Jayawardene said that the chamber has no immediate plans to set up an associate branch to support small and medium scale entrepreneurs in the North and the East.

The SLCSMI, which promotes SME development, marks its 50th anniversary this year. The Chamber will hold its eighth 'Industrial Excellence Awards' on June 17 at the Water's Edge, Battaramulla.“The SMEs in the North and the East could take part in the awards ceremony and showcase their potential for the development of the country,” Jayawardene said. A large number of small and medium scale entrepreneurs do not have access to funding even though they are considered the backbone of the economy.

SME entrepreneurs in the North have neither access to funds nor a stable market for their products and as a result they are being exploited by middle men.

Small scale farmers in the North said that they are unable to sustain their livelihood due to the high fertiliser prices and the absence of a stable market for their produce. Many chambers, banks and financial institutions support the SME sector through lending. Over 650 small and medium industries have applied for the awards this year. Awards will be presented under Platinum, Gold, Silver and Bronze categories.

- LF