Challenges Faced by Small and Micro Enterprises in Sri Lanka

Kahadawa Appuhamilage Sucharitha Navarathne

doi:doi:10.11648/j.urp.20170206.11

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Challenges Faced by Small and Micro Enterprises in Sri Lanka

Kahadawa Appuhamilage Sucharitha Navarathne

Received: 27 October 2017 Accepted: 8 November 2017 Published: 25 December 2017

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Abstract

Small and micro enterprises play a significant role in most economies, whether developed or developing. However, in developing countries these enterprises have tended to be looked at from a development, or poverty alleviation perspective, rather than as entrepreneurial activities and potentially growing businesses. This paper presents a study of a group of small and micro entrepreneurs in Sri Lanka from an entrepreneurship perspective rather than a development one. The purpose of this paper is to document the challenges faced by group of successful small and micro entrepreneurs in Sri Lanka, who received micro-financing to establish or grow their micro-enterprises and to examine these enterprises in terms of their potential for long term success. Case study approach was adopted as the methodology of the study to gain a holistic understanding in a given context. The identified challenges in the given context were maintaining higher quality of product and services, upgrading the technology, business rules and regulations related issues, competition issues and infrastructure issues. The successful small and micro entrepreneurs already believe that they are successful - but still have aspirations to grow further.

DOI	10.11648/j.urp.20170206.11
Published in	Urban and Regional Planning (Volume 2, Issue 6, November 2017)
Page(s)	34-37
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Challenges, Small and Micro Enterprises, Micro Financing

References

[1]	Kanagasingam, R. (2012). Entrepreneurship in Sri Lanka, Daily FT, http://www.ft.lk/2012/08/23/entrepreneurship-in-sri-lanka/.
[2]	National Enterprise Development Authority (2015), “Strategies 07. 6,” http://www.neda.lk/index.php/en/component/content/article/101.
[3]	Bank Society Guideline-20 (2007). Mihijaya –Special Loan Programme.
[4]	McGuire, P. B. and J. Conway (2001), The Microfinance Phenomenon, Foundation for Development Cooperation, Brisbane.
[5]	McPherson, M. A. (1996), ‘Growth of micro and small enterprises in southern Africa’, Journal of Development Economics, vol. 48, p. 253-277.
[6]	Toye, J. (1993), Dilemmas of Development, Blackwell Press, Oxford.
[7]	Shaw, J. (2004), ‘Microenterprise Occupation and Poverty Reduction in Microfinance Programs: Evidence from Sri Lanka’, World Development, vol. 32, no. 7.
[8]	Hisrich and Peters (1998) Entrepreneurship (4^th Edition) Boston. McGraw Hill.
[9]	Rutherford, S. (2000), ‘Raising the Curtain on the “Microfinancial Services Era”’, Focus Notes, No. 15, Consultative Group to Assist the Poorest, World Bank, Washington.
[10]	Mwenda, Kenneth Kaoma & Muuka, Gerry Knombo (2004) ‘Towards best practice for micro finance institutional engagement in African rural areas: Selected cases and agenda for action.” International Journal of Social Economics. Bradford: 2004. vol 31, Iss. 1/2 pg. 143.
[11]	Tissera, D. (2008). Entrepreneurship: A Necessary Skill for All Youth, National Conference on Graduate Entrepreneurship 24, BMICH.
[12]	Media Center for National Development of Sri Lanka (2013). Ministry of Mass Media and Information Sri Lanka, http://development.lk/news.php?news=254.
[13]	Rao, V. L. (1986). Industrial Entrepreneurship in India, Chaugh.
[14]	Yin, R. K., (1984). Case Study Research: Design and Methods, (2^nd ed), Sage.
[15]	Versluysen, E. (1999), ‘Self-Employment: A Cure for Poverty?’ in Defying the Odds: Banking for the Poor, Kumarian Press, West Hartford.
[16]	Barton, C. (1997), Microenterprise Business Development Services: Defining Institutional Options and Indicators of Performance, Microenterprises Best Practice Project, USAID, Washington DC.
[17]	Asian Development Bank (ADB, 1997), Microenterprise Development: Not By Credit Alone, Asian Development Bank, Manila.
[18]	Snodgrass, D., (1996), The Economic, Policy and Regulatory Environment, Microenterprise Impact Project, USAID, Washington.

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APA Style

Kahadawa Appuhamilage Sucharitha Navarathne. (2017). Challenges Faced by Small and Micro Enterprises in Sri Lanka. Urban and Regional Planning, 2(6), 34-37. https://doi.org/10.11648/j.urp.20170206.11

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ACS Style

Kahadawa Appuhamilage Sucharitha Navarathne. Challenges Faced by Small and Micro Enterprises in Sri Lanka. Urban Reg. Plan. 2017, 2(6), 34-37. doi: 10.11648/j.urp.20170206.11

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AMA Style

Kahadawa Appuhamilage Sucharitha Navarathne. Challenges Faced by Small and Micro Enterprises in Sri Lanka. Urban Reg Plan. 2017;2(6):34-37. doi: 10.11648/j.urp.20170206.11

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@article{10.11648/j.urp.20170206.11,
  author = {Kahadawa Appuhamilage Sucharitha Navarathne},
  title = {Challenges Faced by Small and Micro Enterprises in Sri Lanka},
  journal = {Urban and Regional Planning},
  volume = {2},
  number = {6},
  pages = {34-37},
  doi = {10.11648/j.urp.20170206.11},
  url = {https://doi.org/10.11648/j.urp.20170206.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.urp.20170206.11},
  abstract = {Small and micro enterprises play a significant role in most economies, whether developed or developing. However, in developing countries these enterprises have tended to be looked at from a development, or poverty alleviation perspective, rather than as entrepreneurial activities and potentially growing businesses. This paper presents a study of a group of small and micro entrepreneurs in Sri Lanka from an entrepreneurship perspective rather than a development one. The purpose of this paper is to document the challenges faced by group of successful small and micro entrepreneurs in Sri Lanka, who received micro-financing to establish or grow their micro-enterprises and to examine these enterprises in terms of their potential for long term success. Case study approach was adopted as the methodology of the study to gain a holistic understanding in a given context. The identified challenges in the given context were maintaining higher quality of product and services, upgrading the technology, business rules and regulations related issues, competition issues and infrastructure issues. The successful small and micro entrepreneurs already believe that they are successful - but still have aspirations to grow further.},
 year = {2017}
}

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TY  - JOUR
T1  - Challenges Faced by Small and Micro Enterprises in Sri Lanka
AU  - Kahadawa Appuhamilage Sucharitha Navarathne
Y1  - 2017/12/25
PY  - 2017
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JO  - Urban and Regional Planning
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AB  - Small and micro enterprises play a significant role in most economies, whether developed or developing. However, in developing countries these enterprises have tended to be looked at from a development, or poverty alleviation perspective, rather than as entrepreneurial activities and potentially growing businesses. This paper presents a study of a group of small and micro entrepreneurs in Sri Lanka from an entrepreneurship perspective rather than a development one. The purpose of this paper is to document the challenges faced by group of successful small and micro entrepreneurs in Sri Lanka, who received micro-financing to establish or grow their micro-enterprises and to examine these enterprises in terms of their potential for long term success. Case study approach was adopted as the methodology of the study to gain a holistic understanding in a given context. The identified challenges in the given context were maintaining higher quality of product and services, upgrading the technology, business rules and regulations related issues, competition issues and infrastructure issues. The successful small and micro entrepreneurs already believe that they are successful - but still have aspirations to grow further.
VL  - 2
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Author Information

Kahadawa Appuhamilage Sucharitha Navarathne

Postgraduate Institute of Agriculture, University of Peradeniya, Peradeniya, Sri Lanka

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APA Style

Kahadawa Appuhamilage Sucharitha Navarathne. (2017). Challenges Faced by Small and Micro Enterprises in Sri Lanka. Urban and Regional Planning, 2(6), 34-37. https://doi.org/10.11648/j.urp.20170206.11

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ACS Style

Kahadawa Appuhamilage Sucharitha Navarathne. Challenges Faced by Small and Micro Enterprises in Sri Lanka. Urban Reg. Plan. 2017, 2(6), 34-37. doi: 10.11648/j.urp.20170206.11

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AMA Style

Kahadawa Appuhamilage Sucharitha Navarathne. Challenges Faced by Small and Micro Enterprises in Sri Lanka. Urban Reg Plan. 2017;2(6):34-37. doi: 10.11648/j.urp.20170206.11

Copy | Download

@article{10.11648/j.urp.20170206.11,
  author = {Kahadawa Appuhamilage Sucharitha Navarathne},
  title = {Challenges Faced by Small and Micro Enterprises in Sri Lanka},
  journal = {Urban and Regional Planning},
  volume = {2},
  number = {6},
  pages = {34-37},
  doi = {10.11648/j.urp.20170206.11},
  url = {https://doi.org/10.11648/j.urp.20170206.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.urp.20170206.11},
  abstract = {Small and micro enterprises play a significant role in most economies, whether developed or developing. However, in developing countries these enterprises have tended to be looked at from a development, or poverty alleviation perspective, rather than as entrepreneurial activities and potentially growing businesses. This paper presents a study of a group of small and micro entrepreneurs in Sri Lanka from an entrepreneurship perspective rather than a development one. The purpose of this paper is to document the challenges faced by group of successful small and micro entrepreneurs in Sri Lanka, who received micro-financing to establish or grow their micro-enterprises and to examine these enterprises in terms of their potential for long term success. Case study approach was adopted as the methodology of the study to gain a holistic understanding in a given context. The identified challenges in the given context were maintaining higher quality of product and services, upgrading the technology, business rules and regulations related issues, competition issues and infrastructure issues. The successful small and micro entrepreneurs already believe that they are successful - but still have aspirations to grow further.},
 year = {2017}
}

Copy | Download

TY  - JOUR
T1  - Challenges Faced by Small and Micro Enterprises in Sri Lanka
AU  - Kahadawa Appuhamilage Sucharitha Navarathne
Y1  - 2017/12/25
PY  - 2017
N1  - https://doi.org/10.11648/j.urp.20170206.11
DO  - 10.11648/j.urp.20170206.11
T2  - Urban and Regional Planning
JF  - Urban and Regional Planning
JO  - Urban and Regional Planning
SP  - 34
EP  - 37
PB  - Science Publishing Group
SN  - 2575-1697
UR  - https://doi.org/10.11648/j.urp.20170206.11
AB  - Small and micro enterprises play a significant role in most economies, whether developed or developing. However, in developing countries these enterprises have tended to be looked at from a development, or poverty alleviation perspective, rather than as entrepreneurial activities and potentially growing businesses. This paper presents a study of a group of small and micro entrepreneurs in Sri Lanka from an entrepreneurship perspective rather than a development one. The purpose of this paper is to document the challenges faced by group of successful small and micro entrepreneurs in Sri Lanka, who received micro-financing to establish or grow their micro-enterprises and to examine these enterprises in terms of their potential for long term success. Case study approach was adopted as the methodology of the study to gain a holistic understanding in a given context. The identified challenges in the given context were maintaining higher quality of product and services, upgrading the technology, business rules and regulations related issues, competition issues and infrastructure issues. The successful small and micro entrepreneurs already believe that they are successful - but still have aspirations to grow further.
VL  - 2
IS  - 6
ER  -

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