Small & Medium Enterprise Development (SMED)
SMED – Small and Medium Enterprise Developers is a project of the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) in collaboration with the Friedrich-Naumann Foundation (FNF) of Germany. This project was established in 1989 with a view to developing and promoting the Small and Medium Enterprise (SME) sector in the country.
SMED will be a ‘Centre of Excellence’, the leading service provider, facilitator and the voice of Sri Lanka’s Small and Medium Enterprise sector.
To promote and foster business enterprises to be professional, ethical, competitive as well as responsible towards society and the environment, thereby contributing towards balanced and sustainable socio economic
development of the nation.
SMED was conceived with the objective of developing and promoting a free market economy by improving the efficiency and competitiveness of individual Small and Medium Enterprises, as well as strengthening and empowering organizations which represent the SMEs across all sectors in the country. These objectives are to be achieved through:
- Acceleration of industrial and economic development
- Creating employment and income generating opportunities
- Enhancing export capabilities
- Improving managerial and marketing capabilities of SMEs
- Improving employee work safety
- Improving quality and productivity
- Protecting the environment
Challenge and Opportunity
In today’s globalized economy, the challenges faced by businesses are enormous. SMEs are unable to stay as mere suppliers but have to come out of the cocoon and explore opportunities in the global scenario. They should be empowered to deliver appropriate solutions to the needs of the dynamic markets. Business competitiveness has shifted from mass production with size and scale based advantages, to “lean production” where responsiveness, speed and constant re-invention reign supreme.
In such a competitive environment SMEs are not on a comfortable footing when compared to large-scale enterprises. Task of the SMED is to assist SME industrialists to rise competitively through technical, managerial and marketing efficiency.
Functions and Services of SMED since 1989
- Industrial engineering and technology transfer services
- Energy and environmental services
- Enterprise development services
- Agribusiness development services
- Public private partnership for SME promotions and market linkage services
- SME policy, research and advocacy services