SME SECTOR AT THE CROSSROADS
Deshabandu Nandadasa Narayana urges the authorities to wake up to the potential of SMEs to boost our economy.Yamini Sequeira has more.
Q: Could you give us an overview of the SME sector?
A: This segment is aptly considered as being the engine of growth for the national economy. Despite noticeable growth, we have been unable to quantify the size of the SME sector, as none of the governmental agencies have been able to provide us with accurate figures.
However, according to the Director of Planning, there are about 35,000 registered SMEs islandwide.
Enterprises with a workforce of over 100 employees are categorised as ‘large’, while entities with a workforce of below 10 and 100 are classified as ‘micro’ and ‘medium’ respectively. Read more....