Sme Definition Sri Lanka

Small and medium sized enterprises smes are the bedrock of sri lanka s economy accounting for 75 of the total number of enterprises active in the country providing 45 of employment and contributing 52 to its gross domestic product gdp government of sri lanka ministry of finance 2015.

Sme definition sri lanka. Many of the principles in full slfrss for recognising and measuring assets liabilities income and expenses have been simplified topics not relevant to smes have been omitted and the number of required. Display 126 10b ground level ymba building colombo 01 sri lanka. 94 112 424505 94 115644379. The world bank states that if any enterprise has less than 99 people it can be termed an sme.

Sme directory sme directory select the sector to search. Then another definition is less than 50 people but an asset base of 20 million. In sri lanka they form. In sri lanka some say that an enterprise which has less than 99 people and an asset base of four million can be termed an sme.

These are found in all sectors of the economy primary secondary and tertiary and provide employment for persons of different skills skilled semi skilled and unskilled. The small medium enterprise sme sector has been identified as an important strategic sector in the overall policy objectives of the government of sri lanka gosl and it is seen as a driver of change for inclusive economic growth regional development employment generation and poverty reduction. The criteria is annual turnover and number of employees is given in table 6. Small and medium enterprises smes play an important role in economies in terms of their contribution to national output employment and share of firms operating in countries.