Go Digital or Go Home
USAID CATALYZE PSD Provides Vital Business Advisory Support to Increase MSMEs’ Competitiveness in Sri Lanka
The business decision to go digital is no longer a luxury for micro, small, and medium-sized enterprises (MSMEs). When COVID-19 hit, many MSMEs weren’t prepared to function entirely online. As a result, the world watched business after business close their doors permanently. Those businesses with the ability to operate digitally needed to quickly adapt their platforms to improve their online presence and functionality.
In Sri Lanka, MSMEs often lack the digital literacy, human resources, and funding needed to upgrade digital platforms that are required to conduct and grow their business online. To help increase their competitiveness, USAID CATALYZE Private Sector Development Activity worked with Business Advisory Service Providers to support more than 100 MSMEs.
PSD’s Business Advisory Service Provider (BASP) partners are working with Berendina Micro Investments Company (BMIC) to revamp their e-commerce website Ekade.lk (www.ekade.lk), which supports and promotes Sri Lankan handicraft products sourced from local artisans. The products offered on this platform range from food processing and apparel to cane, bamboo and wood craft products. Ekade.lk connects various stakeholders along the value chain, including producers, suppliers, processors, transporters, and final consumers across rural communities in Sri Lanka. The platform currently serves 118 producers, 59 percent of whom are women.
The BASPs are supporting ekade.lk in brand positioning and revamping of their digital platforms to increase the MSME’s visibility and ability to reach new customers. This support will enable ekade.lk to:
- Improve their website’s functionality, appearance, navigation, and overall user-friendliness.
- Develop their social media channels and strategy.
- Increase business knowledge and productivity of producers linked to the Ekadel.lk by providing direct Technical Assistance.
In addition, PSD will facilitate improved access to finance provided by Berendina for the producers connected to the platform.
Through this initiative, PSD will improve market linkages to enhance digital literacy, leverage finance and provide producers with technical assistance required. In turn, the PSD initiative will increase business capacity, profitability, employment opportunities, and incomes for microentrepreneurs and small businesses.
CATALYZE PSD strengthens MSMEs’ levels of resilience and adaptation to the long-term economic impacts of COVID-19, better equipping them to navigate a business landscape forever changed.
