The Advocata Institute recently, launched a study on removing barriers to micro and small entrepreneurs (MSEs) through regulatory and legislative reform. The economic contributions of MSEs are seen as one of the major driving forces pushing economic growth. However, regulations that govern these businesses could be a deterrent. and Anushka Wijesinghe.
Small businesses make up over 90% of the total businesses in Sri Lanka. Not only do they employ close to 45% of total employment, they also contribute tremendously to our economy. A recent survey carried out by the Advocata Institute found that some of the main barriers to entrepreneurship are sourcing finance, sourcing raw materials, and low sales. Out of the businesses that had not been registered, 36% reported that they had tried to register but had failed due to the complex procedures that were involved.
Stories for the competition can be submitted through email to info@advocata.org, with the subject ‘My Entrepreneurship Story, Name’. Stories can also be submitted by sharing a public post on Facebook, Instagram or Twitter with the hashtag #MystoryLK, or by sending a direct message to @advocatainstitute on Facebook or @advocatalk Instagram. Further information can be found on the competition website
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