Sri Lanka’s government urged to have a regulatory friendly environment to facilitate SMS’s growth

Oct 21, 2014 (LBO) – Sri Lanka’s Government urged to create a friendly regulatory framework to drive the growth of the small and medium enterprises in the island, chamber chief said. Tilt the policy framework in favor of SME’s, Suresh Shah, Chairman of the Ceylon Chamber of Commerce said.

This is only fair since many other factors are tilted against them,

Let the policy framework facilitates growth of firms both into the SME sector and out of it. Most importantly make it easy for SME’s to do business and grow.

He said at a two day forum on small and medium enterprise empowerment 2014, held recently at Colombo.

Shah said the SME sector, which is the backbone of the rural economy must be transformed into an integral part of the supply chain within the country.

It is estimated 75 percent of all enterprises fall into the SME category in Sri Lanka and 45 percent of country’s employment represent by SME’s.

SME’s represent nearly 80 percent of 4700 Sri Lankan exporters.

We do see in the overall environment, a small and medium entrepreneur has to fill many applications forms go from office to office to get basic things done a