Sri Lanka Institute of Marketing launches SME Development Awards
Sri Lanka Institute of Marketing (SLIM), the apex body for Sri Lankan marketers founded with a view to harnessing the available skills in marketing for the growth and development of the profession, has opened entries for the 2022 edition of SLIM SME Development Awards (SMEDA) from the 20th of October until the 30th of November 2022.
SLIM SMEDA is organised under ‘Restart Sri Lanka’ (ReStartSL) with the aim to stimulate businesses to revive the economy by rewarding the outstanding efforts of SMEs in sales, marketing and branding spheres.
This year’s competition, SLIM SMEDA features two awards categories; the special awards category and the main awards category, under which multiple awards are accorded to SMEs from a range of categories that reflects the ultimate growth potential of Sri Lanka’s SME arena. The highest scoring entities of the main categories will be conferred the ‘Small/Medium Enterprise of the Year’ title while the most upcoming business startup by a young individual will be awarded the ‘Young Startup of the Year’ title.
Sharing his thoughts on the occasion, President of SLIM NuwanGamage stated, “Accounting for over 75 percent of businesses and the workforce, SMEs are the lifeblood of the Sri Lankan economy. However, the lack of knowledge and appreciation for the fundamental marketing, product and services commercialisation strategies among SMEs takes a toll on their potential. Upon recognising this through insights gained through SLIM Brand Excellence, we aim to encourage SMEs to practise and incorporate marketing strategies and progress towards success through this event. The key objective of SLIM SMEDA is to establish marketing as the driving force that enhances the nation’s growth prospects.”
A homegrown company with annual revenue between Rs. 16 million to Rs. 250 million are eligible to apply for SLIM SMEDA as a Small Entrepreneur while companies not exceeding an annual revenue of Rs. 750 million could apply for candidacy in the Medium Entrepreneurs category. All entities must provide verification of financial data by way of the last audited accounts by external auditors to be eligible.
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