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Asian SME Summit 2009 – way forward

ASIAN SME SUMMIT 2009

PUBLIC PRIVATE PARTNERSHIP IN SME DEVELOPMENT THROUGH CAPACITY BUILDING, POLICY & RESEARCH

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7TH TO 8TH AUGUST 2009

COLOMBO, SRI LANKA

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We are pleased and privileged to announce that the Asian SME Summit 2009 organized as a Public Private Partnership by the Asian Corporation Dialog (ACD), Ministry of Foreign Affairs , Ministry of Enterprise Development & Investment Promotion & Small & Medium Enterprise Developers (SMED) of Federation of Chambers of Commerce & Industries of Sri Lanka(FCCISL) concluded successfully on 8th August at the BMICH, Colombo.

Development of the Small & Medium Enterprise Sector (SME) is a high priority agenda in any government..The Summit facilitated sharing of knowledge & experience of some of the rich Asian Countries who have achieved accelerated growth of this SME sector, thus creating high income and more employment opportunities particularly in rural areas.

The recommendations for the challengers were highlighted in group discussions after the country presentations.

Issues, Challenges and Recommendations of SME finance

Issues and Challenges

1. Access to finance at entry points

2. Assessment of Credit worthiness

3. Need for supporting institutions

       e.g. Business facilitators

5. Venture Capitals

6. Finding a new technology

7. Survival in the new era with the industry competition

8. R&D

Recommendations

  1. Introduce new entrepreneurship training
  2. Introduce Credit Rating schemes instead of following own way of risk assessments
  3. Introducing Micro finance as a way of poverty alleviation
  4. Establishments of Venture Capitals in the IT sector
  5. Networking or collaborating with industry partners.
  6. Give quality accreditations
  7. Provide loans at subsidized rates
  8. Private sector partnership with Government. policies
  9. Not providing only basic R&D but application R&D also

Issues, Challenges and Recommendations for Capacity Building

Challenges

  1. Motivation of the employees and employers
  2. Affordability (if free of charge or not) - This leads to motivation
  3. Selection of the trainee
  4. Certification of the course and the trainers
  5. Availability of the trainers and the quality of the trainers
  6. Monitoring (what are the mechanisms) *

Recommendations

  1. Certification of the employers
  2. Funding of different programmes

           e.g. Management / Financial Accounting should be paid for

3. Motivation – vocational training for students

4. Certification of the programme by an agency - The programme should not be a one stop but should continue subsequently/ recertification

  1. Exchange of experts through approving sabbatical leave for 2-3 years
  2. Exchange of SME employees to obtain hands on training
  3. Train employers and employees and keep a track of the training outcomes
  4. Systematization of education

          e.g. different ministries should be collaborated

Best Practice: - India’s EEP – different content for the same enterprise at different levels

  1. Mentoring and coaching – Have more mentors who go to the workplace for coaching
  2. Having dialog sessions with enterprises, policy makers

Recommendations of Technology and E-Commerce

  1. Access to finance  - Financial support for innovations – loans, grants, venture capitals
  2. Technology know-how, capacity and competitiveness
  3. Promotion of clusters for differentiation and competitiveness
  • public. Vs private sector driven
  • demand driven strategy
  • sectoral focus
  • clustering not always feasible (agribusiness, farmers)

4 Linkages between large enterprises and SMEs

  • - match making by the govt.
  • - engineer spillovers/ technology transfers from large enterprises to SMEs
  • - FDI

5  Enabling Quality certifications

  • - ISO 9000
  • - Technology Resource Database (technical experts)
  • - Technical upgrade roadmap

6  Infrastructure

  • Online business access – telecom, internet, electricity, logistics etc.

7 Provide Business Development Services

  • - volunteer
  • - Research and technical institutes (govt. and private owned)
  • - develop incubators to support technical innovation
  • - govt. portal

8  Improve basic provide IT skills and entrepreneurship mentality

  • formal education (science/technology)

The Chairmanship of the ACD will be handed over to Sri Lanka in October this year and the recommendations of this Asian SME Summit will be presented by the policy makers to the October ACD forum for way forward in implementing the recommendations for acceleration and sustainable growth of SMEs which will cerate an economic growth of the country as a whole.

We wish to thank all stakeholders who partner with us in the tremendous success of this Asian SME Summit 2009 , Colombo Sri Lanka.

 

About Asian SME Summit 2009