CA Sri Lanka and CSE conclude capacity-building workshops for SMEs

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Colombo Stock Exchange (CSE) successfully concluded a series of capacity-building workshops aimed at empowering small and medium-sized enterprises (SMEs) in Monaragala and Batticaloa. 

Held on 16 and 18 July, the workshops equipped entrepreneurs with practical knowledge and tools to strengthen their financial standing, improve their creditworthiness, and enhance access to finance. 

The initiative forms part of a broader, multifaceted programme launched by CA Sri Lanka and the CSE to support the development and growth of Sri Lanka’s SME sector, which is widely recognised as a vital contributor to the national economy. The workshops addressed one of the key challenges faced by SMEs, namely limited access to finance, which continues to constrain the growth and expansion of many businesses. 

The two regional sessions provided participants with insights into the contribution of SMEs to the Sri Lankan economy, the role of CA Sri Lanka, and the initiatives of CA SME Connect, which was launched recently. The sessions also explored the key challenges currently facing SMEs and their impact on business growth. A key focus of the workshops was the newly launched SME Creditworthiness Rating Framework, developed by CA Sri Lanka in response to a request from the Department of Development Finance of the Ministry of Finance. The Framework provides a standardised and scalable mechanism for assessing the creditworthiness of SMEs and supports businesses in identifying areas for improvement. Entrepreneurs were guided through the purpose and importance of the Framework, its application and documentation requirements, assessment criteria and scoring methodology, and the practical use of the scorecard. The sessions also demonstrated how the Framework can help SMEs assess their current creditworthiness, identify areas requiring improvement, and strengthen their readiness to access financing.

The workshops also included tax updates relevant to SMEs and introduced participants to the SME Connect Awards and The Entrepreneur magazine. These initiatives form part of broader efforts to recognise excellence, promote good governance, and foster a culture of financial discipline and responsible business practices within Sri Lanka’s SME sector.