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, according to a chamber statement.

The NCCSL under a special scheme established for the SME sector under the “Grow your Business Programme” provides all required plant machinery, equipment for the eligible and viable small sector enterprises. The main objective of this programme, is to enhance their business activities and production output with increased sales thereby creating employment opportunities. The increased overall activities of these SME is expected to provide worthwhile contribution to the regional economic development, the chamber said.

It said it plans to provide facilities to 40-50 selected entrepreneurs from various sectors of the industry representing many regions in the second phase of disbursements.