The “SME Nexus” National SME Strategy Framework 2026, aimed at empowering Sri Lanka’s Small and Medium Enterprises (SMEs), was officially launched on Wednesday (13).

The programme was launched under the patronage of the subject Minister Sunil Handunneththi and Deputy Minister Chathuranga Abeysinghe.

According to the Ministry of Industry and Entrepreneurship Development, the initiative primarily seeks to remove structural barriers faced by the SME sector, which represents more than 75% of registered businesses in Sri Lanka, contributes 52% to the country’s Gross Domestic Product (GDP), and employs 45% of the national workforce.

Developed in line with the vision, “A Thriving Nation – A Beautiful Life,” the framework is designed to guide entrepreneurs from sustaining day-to-day livelihoods to transforming into high-growth, export-oriented enterprises.

Built upon a core strategic vision and 11 strategic pillars, the framework will be implemented through the following key focus areas:

1. Technological and Digital Empowerment: Introducing an integrated SME data platform and digital business tools.
2. Institutional Integration: Aligning all enterprise development state institutions toward a unified national objective.
3. Service Delivery Structure: Establishing efficient service delivery through “single-window” service centres and the “SME Connect” call center.
4. Incubation and Startup Support: Simplifying business startup procedures and registration processes.
5. Market Development and Value Chain Integration: Connecting local products to Global Value Chains (GVCs).
6. Business Intelligence and Research: Enabling data-driven decision-making and market research support through the SIBA unit.
7. Recognition of Ecosystem Partners: Evaluating and recognizing the contributions of banks, chambers of commerce, and public officials.
8. Relationship Management: Training development officers as “Relationship Officers” to provide direct guidance and mentorship to entrepreneurs.
9. Financial Access and Growth Fund: Improving credit readiness and establishing a dedicated “Growth Fund” for priority sectors.
10. Entrepreneurship Education and Culture: Promoting entrepreneurial thinking at the school and university levels.
11. Policy and Regulatory Reforms: Reforming laws and regulations that hinder enterprise growth.

With the implementation of this framework, entrepreneurs will gain easier access to business registration services, modern technology, and specialized financial facilities. In particular, free advisory and mentoring services that directly support business growth beyond conventional approaches will also be made available.

Through this national initiative, Sri Lanka aims to support the entrepreneurs who are willing to grow themselves to expand the national economy and to increase export earnings. (Newswire)

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