Connect with us

Business

95% of micro startups supported by govt and NGOs fall by the way side within 5 years: expert

Published

on

Dr. Premasiri Gamage

By Sanath Nanayakkare

95% of microbusinesses supported through the Government and NGO mechanisms tend to become no longer active or successful within 5 years, according to an experienced mentor of entrepreneurship.

Dr. Premasiri Gamage, Management guru and personality trainer specialized in rural entrepreneurship development and micro finance revealed this during an interview with Independent Television network (ITN) yesterday.

“15% of these micro businesses are constantly moving in a roundabout without making any progress and seeking further support from the Government or NGOs, and therefore, the joint efforts by these two institutions have actually helped create a minimal 5% of successful micro businesses in any given 5-year time periods,” he said.

“Some of them are very good niche ideas that could be the start of multi-million rupee businesses, but they fail to produce their potential mainly because these entrepreneurs solely depend on themselves without outsourcing certain tasks or partnering with a strong network. It is not easy managing even a micro business holistically on one’s own in today’s competitive environment and one would need insights and direction from those who have the expertise. But here in Sri Lanka, many people believe that partnerships are untrustworthy because money can change everything. But as a sole proprietor, one alone is responsible for the success or failure of the business. But in a partnership, there will be complementary strengths, talents, personalities, and experiences of the prospective partners. Many Sri Lankan parents urge their adult children who are passionate about starting a business to do so on their own without the contribution of no-one. This has frightened our youth and they are naturally discouraged from entering a partnership and eventually they don’t enter the entrepreneurial world at all. We have to get rid of this misconception. How many businesspeople have prospered in the world on his or her own? Almost none. There are many people behind the big companies’ success other than their founders. Alibaba CEO, Jack Ma hired passionate entrepreneurs to build a solid foundation on which to base the company’s growth. Bill Gates trusted in the ability of those whom he hired to come up with answers to problems. Mark Zukerberg had partners that were important elements of his company and were leading a lot of key efforts for the company. So, it’s a Sri Lankan myth that a business has to be a sole proprietorship because there can be many disadvantages to it,” he said.

“Another Sri Lankan myth is that for one to enter the entrepreneurial world, one must have entrepreneurial DNA. That is not necessarily so. If one has the passion for business, entrepreneurship can be acquired. There are specialized entrepreneurship mentors in Sri Lanka who can give the knowledge to design a curriculum to learn and practice entrepreneurship. A lot of academics and professionals are ready to share that knowledge with interested young people at school level or with those who are looking to be financially independent without any age barrier. If the Minister of Education and the Secretary to the Ministry of Education are willing to partner with us, we will muster the support of the universities to initiate entrepreneurship education programmes islandwide. The key eligibility of being an entrepreneur is; not having a dependent-mindset and having the capacity to take responsibility for one’s own life without seeking giveaways from the Government,” he said.

Dr. Premasiri Gamage said that they have organized an entrepreneurship education programme for the youth in Bulathsinhala at Bulathsinhala Pradeshiya Sabah Auditorium from 8: 30 am-1: 30 pm on January 19.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

PM calls for ‘clean, abundant and universally accessible’ solar power

Published

on

In a call to action for solar cooperation across Asia and the Pacific, Sri Lankan Prime Minister Dr. Harini Amarasuriya said the 21st century must be led not by fossil fuels, but by the promise of sunlight—”clean, abundant and universally accessible.”

She was addressing delegates from across the region at the 7th Regional Committee Meeting of the International Solar Alliance (ISA) for the Asia and Pacific Regions, held at the ITC Ratnadipa Colombo yesterday. The high-level gathering brought together ministers, diplomats, energy experts and institutional partners to strengthen regional solar energy strategies.

“If the 20th century was defined by fossil fuel, then the 21st century must be led by the promise of sunlight, said Prime Minister Amarasuriya. “This is not merely an alternative—it is an imperative.”

Present at the event were the High Commissioner of India to Sri Lanka Santosh Jha, Deputy Minister of Power and Energy Kumar Jayakodi, Deputy Minister Naveer Rathna, Director-General of the ISA Ashish Khanna, and other regional dignitaries. The meeting was marked by the formal exchange of the Country Partnership Framework (CPF) between Sri Lanka and the ISA—a key milestone that will guide collaboration, investments and technology transfer in Sri Lanka’s solar sector.

“Asia and the Pacific stand at a critical junction, PM Amarasuriya said. “Our region must shoulder the dual responsibility of accelerating economic growth while confronting climate vulnerabilities. Our strategies must be both resilient and equitable.”

She acknowledged that many countries, including Sri Lanka, were facing the twin pressures of fiscal recovery and rising energy demands, especially in remote and underserved communities. In that context, she praised ISA’s role in supporting decentralised energy solutions and innovative financial models.

“We are deeply grateful for the continued support of the ISA. Its work has laid a strong foundation for scaling rural electrification, which remains a top priority for our government, she added.

Despite a difficult economic backdrop, Sri Lanka has exceeded expectations. Prime Minister Amarasuriya made said during her speech:

“A month ago, Sri Lanka achieved its national target of generating 70% of electricity from renewable energy sources, ahead of our 2030 deadline.”

She said the focus now shifts from hitting the target to sustaining it, ensuring grid stability and long-term affordability for citizens.

‘At the heart of Sri Lanka’s strategy is the ‘Surya Balasangramaya – Battle for Solar Energy’ programme, which is expanding rooftop solar panels across homes, schools and public buildings. The country has also completed two floating solar projects at Chandrika Dabba and Kiri Perth Dabba, pushing boundaries on land-scarce solar generation.

‘Additionally, the government is in the process of revising national electricity laws to encourage competitive bidding, boost investor confidence and integrate modern solar technologies’.

Recognising the role of knowledge transfer in long-term transformation, the Prime Minister also announced the establishment of a Star Centre at the University of Moratuwa to serve as a regional hub for solar training and research.

Energy Minister Kumara Jayakody and ISA Director-General Ashish Khanna signed the Country Partnership Framework (CPF) in the presence of regional dignitaries. The CPF outlines a clear roadmap for deepening collaboration between Sri Lanka and the ISA across training, project development, finance mobilisation, and regional knowledge exchange.

ISA Director-General Khanna commended Sri Lanka’s leadership in renewable energy and noted that the country could be a regional model for clean energy transition—particularly for island and middle-income nations.

By Ifham Nizam

Continue Reading

Business

US ambassador Julie Chung visits Pathfinder Foundation.

Published

on

The Pathfinder Foundation hosted Julie Chung, Ambassador of the United States of America, at its headquarters, “Riverpoint” in Peliyagoda. Ambassador Chung was accompanied by Deputy Chief of Mission Jayne Howell and Political Officer Adam L. Michelow.

The delegation was warmly received by . Milinda Moragoda, the Founder of Pathfinder Foundation, along with the Directors and staff of the Foundation.

During the meeting, founder Moragoda briefed the ambassador and officials on the Foundation’s work over the years, including its activities with the U.S. embassy and other U.S.-based organisations, such as think tanks. Pathfinder’s key initiatives on Indo-Pacific security, notably the upcoming Pathfinder Foundation’s Indian Ocean Security Conference scheduled for February 2026, the recently concluded Bay of Bengal Maritime Dialogue, and its recent research on strategic minerals were highlighted. Furthermore, the ambassador expressed interest in a recent webinar covering the Trump administration’s policies, which Pathfinder jointly organised with the U.S.-based Heritage Foundation.

Continue Reading

Business

Cinnamon Hotels & Resorts announces new leadership appointments

Published

on

Cinnamon Hotels & Resorts has announced a series of senior leadership transitions across its Sri Lankan resort portfolio, reflecting the Group’s strategic commitment to strengthening internal talent pipelines, advancing inclusive leadership, and driving operational excellence across its Sri Lanka Resort portfolio.

Murfad Shariff has been appointed Area General Manager – Central and Eastern Resorts, Sri Lanka, overseeing Cinnamon Lodge Habarana, Habarana Village by Cinnamon, Trinco Blu by Cinnamon, Cinnamon Citadel Kandy, and the newly opened Kandy Myst by Cinnamon. With nearly 30 years of distinguished experience in the hospitality industry working in Sri Lanka and abroad, he is known for people-focused leadership and a strong sustainability record. An alumnus of Trinity College, Kandy and an Associate Member of the SLHGA, he led Cinnamon Citadel Kandy to win SATA and Chairman’s Awards in 2017 and contributed to national sustainability accolades in 2023 and 2024. His appointment ensures values-driven leadership and continuity across Cinnamon Sri Lanka Resort portfolio.

Simultaneously, Lankesha Ponnamperuma has been appointed Area General Manager – Southern Coast Resorts, Sri Lanka, overseeing operations at Cinnamon Bey Beruwala, Hikka Tranz by Cinnamon, and Cinnamon Wild. With over 15 years of executive experience in international hospitality, he is recognized for driving exceptional guest satisfaction, financial performance, and effective multi-property operations. Lankesha holds a Master of Business in International Hotel Management from the University of Queensland, a bachelor’s from the University of Maryland Eastern Shore, and a Diploma from the Ceylon Hotel School. An alumnus of Trinity College, Kandy, his global perspective and operational expertise continue to strengthen Cinnamon’s leadership across its beach resort portfolio.

Continue Reading

Trending