Initiatives planned to motivate young people to dream bigger

Free warehousing on offer in U.S., Australia and Dubai

New initiatives of the Chamber of Young Lankan Entrepreneurs (COYLE) will harness its existing capacities and networks to the greatest extent possible to empower young entrepreneurs in all regions of the country to contribute to the national economy on a greater scale, Thushira Raddella, businessman and President of (COYLE) told The Island Financial Review.

Thushira who recently took over the responsibilities as new chairman of COYLE from its immediate past chairman Rasith Wickramasinghe said the Chamber would transform the way it does things about young entrepreneurship in Sri Lanka in 2024 and beyond. This is not something I am going to do. It is something the Chamber is going to do as a responsible body comprising high-profile, decision-making business owners who hold the entire membership of the Chamber,” he said.

Thushira, CEO/Director of Raddella Holdings Pvt. Ltd., in addition to being COYLE chairman speaking further said,” 25 years ago, COYLE was founded by a group of young Sri Lankan entrepreneurs. Today they and their companies are high-net worth and well-known organizations that bring substantial foreign currency into the country, and substantially contribute the gross domestic product (GDP) of the country. Their noteworthy accomplishments in the business world can truly inspire young Sri Lankan entrepreneurs to conquer the growth markets in foreign countries. We are keen to share our members’ skills, experience and networks with the potential changemakers of the country to take their businesses to the next level,” he said.

“Our members will be getting in touch with entrepreneurial-minded students at their alma maters and motivate them , so that they can dream bigger with our support and the opportunities we can create for them if they are truly committed to being entrepreneurs in the future. We will be spreading the movement to identify and empower the entrepreneurial spirit in provincial schools as well. After doing so for about six months, and selecting viable business ideas, we will open up startup incubators to offer them vital information, guidance and even necessary capital to them. As a Chamber with 100 members, we have connections and relations with other chambers and foreign trade delegations; and we are planning to bring in angel investors and venture capitalists to finance and partner with emerging Sri Lankan entrepreneurs, “he noted.

“We are planning to rename COYLE as Chamber of Lankan Entrepreneurs and establish an affiliated platform dedicated for young businessmen and women and university students, through which they can collaborate with us and be stronger in their business pursuits. We will be taking the Chamber to a global level. Moves are underway by the Chamber to set up regional offices to support young Lankan entrepreneurs to enter foreign markets.

One of the main plans for this year is; we are going to give three warehouse facilities for Sri Lankans to bring their goods and keep them in the U.S., Dubai and Australia. We have already obtained warehouses in those countries. This facility will be provided to young entrepreneurs for free. This is a crucial support we can extend to take local manufacturers’ goods overseas. And the Chamber’s experts who know about business processes in those markets inside out can help young Lankans to gain a foothold there,” he said.