NDB continues to empower entrepreneurs
Taking into consideration the importance of SMEs to the national economy, NDB has dedicated over 30 years of customised financial expertise to this sector. Whilst providing a range of dedicated financial solutions to empower the SME sector, NDB conducts comprehensive SME workshops with the aim of educating and developing the skills, knowledge and competencies of the entrepreneurs across the country. These workshops are designed to enlighten entrepreneurs on making best use of the many emerging opportunities.
The seventh workshop in a series of SME workshops conducted by NDB this year was recently concluded in Mathugama. The workshop saw the participation of over 100 entrepreneurs representing diverse sectors such as fisheries, agriculture, tea, rubber and industrial manufacturing. Presentations with interactive sessions were carried out during this workshop where the participants had the opportunity to clarify their individual queries.
The topics discussed at the sessions included introduction to SME and retail banking for entrepreneurs, detailed information on specialised products and services provided for SMEs by NDB, principles of marketing and tactics to grow market share, wealth creation techniques for businesses and individuals as well as insight on emerging investment opportunities.
At the end of the workshop, participants were presented with certificates as a further value addition and a validation of the expertise gained. The workshop concluded with an evening of fellowship, where the entrepreneurs from diverse industries in the Mathugama region were able to share views and network with each other.
Commenting on the programme, NDB CEO Russell De Mel stated, “Prior to the workshop in Mathugama, NDB has concluded several SME workshops this year in the regions of Ratnapura, Pilimatalawa, Moratuwa, Kurunegala, Kuliyapitiya and Ambalantota. The response of the participants at these forums has always been positive and overwhelming. Such programmes reiterate NDB’s commitment to the SME sector and are part of a series of continuous initiatives taken to develop and grow the SMEs in the country. We hope to further develop and extend these workshops to all parts of the island in time to come.
“Given our deep roots in SME banking, NDB firmly believes that SMEs form the backbone of the country’s economy. With a rich heritage in SME financing, NDB is fully geared and committed to help this sector to maximise the opportunities in the market. Therefore, in addition to traditional SME lending, the bank has initi- ated programmes such as these workshops to enhance the knowledge and skills of our entrepreneurs to help them overcome the emerging challenges when conducting business.
In this challenging business environment, NDB believes in continuous support to the SME sector by way of advising services using both expertise available within NDB and outsourced services. The success of an SME venture depends on producing the appropriate products, to appropriate markets using appropriate technology. The optimum combination of these backed by branding and packaging ensures survival and growth of SMEs,” commented De Mel.
Amongst the products and services offered to SMEs are both long and short term financing facilities and commercial banking facilities needed for the SME sector, which range from working capital financing to other low cost credit facilities. NDB also advocates financial inclusion of the lower end of the industry with livelihood development schemes such as ‘NDB Divi Aruna’ which is a community enrichment programme that caters to those with no access or knowledge to financing.