‘Sri Lanka@100’ conducts first capacity-building seminar in Kegalle

Sri Lanka@100, a private sector-led initiative focused on the growth of mid-market enterprises – funded by the U.S. government’s International development Agency, USAID, and administered by Stax – was launched in September. The platform, designed to help mid-market companies island wide get better access to high-caliber business advisory services, conducted its first capacity building event in Kegalle on September 29 in conjunction with the Kegalle Chamber of Commerce, Industry and Agriculture.

The seminar emphasized the need for selecting appropriate growth options and executing them with focus. A senior consultant at Stax, Thivanka Bandara, spoke at length about the pitfalls of diversifying too quickly and too broadly, without the necessary focus. The seminar concluded with discussions on a systematic framework for growth, and successful examples of diversification through focus.

Welcoming representatives from over 40 leading businesses in the area, the president of the Kegalle Chamber of Commerce, Tissa Ranatunga, emphasized the importance of the platform’s aim to make Sri Lanka a high-income country, adding he hoped the businesses there would be contributors to making that vision a reality. This sentiment was echoed by Platform Co-Founder, Dr. Kumudu Gunasekera, who said, “Development can come in many forms. We don’t have to only undertake massive ‘hard development’ projects like building dams or roads. Building global brands and businesses that can help Sri Lanka shine—that kind of intangible development is also crucial. You can all help make that happen.”

Delivering the keynote address, minister Balasuriya pointed to several examples of local companies that have been successful in this manner at regional and global level. While acknowledging that state policies also play an important role in supporting such companies to grow, he praised the Sri Lanka@100 Platform for promoting private sector-led growth. “While the government is of course responsible for the well-being of all citizens, we must move away from this mindset of expecting the public sector to provide more and more jobs. We will only be able to rejuvenate our economy if we have an extremely strong private sector, because even in challenging times such as now, there are still many pockets of opportunities for growth that private entrepreneurs are capitalizing on.”

Sri Lanka@100 is accepting applications from mid-sized firms seeking advisory support for rapid growth. The eligibility criteria, application process, and deadlines are listed on the SL@100 website (www.srilanka100.lk) and its social media platforms.