The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), in partnership with the Colombo Stock Exchange (CSE), has launched a series of strategic initiatives aimed at transforming Sri Lanka’s small and medium sized enterprise (SME) sector by improving access to finance, strengthening governance, and preparing businesses for long term growth.

The initiatives, unveiled at a press conference held at CA Sri Lanka’s head office in Colombo 7 on 6 July, include the SME Creditworthiness Rating Framework, the SME Connect Awards, the inaugural edition of The Entrepreneur magazine, and the SME Connect brand identity. The event was led by CA Sri Lanka President Tishan Subasinghe, CA SME Connect Committee Vice President and Chairperson Anoji de Silva, Alternate Chairperson Saman Srilal, Chief Executive Officer Lakmali Priyangika, and CSE Chief Executive Officer Rajeeva Bandaranaike.

Developed in response to a request from the Department of Development Finance of the Ministry of Finance, the SME Creditworthiness Rating Framework introduces a structured and scalable system to assess SMEs based on financial performance, governance, and operational indicators. The framework is expected to improve transparency, enhance investor confidence, and provide financial institutions with a consistent credit assessment tool.

Speaking at the launch, Tishan Subasinghe said SMEs are the backbone of Sri Lanka’s economy but continue to face challenges in accessing finance. He noted that the new initiatives would strengthen financial credibility, improve governance, and enable SMEs to secure capital while progressing towards listing on the Colombo Stock Exchange.

CA Sri Lanka also announced a series of capacity building workshops to help SMEs improve financial management, investor readiness, and sustainable business growth, reinforcing the Institute’s commitment to building a more resilient and competitive entrepreneurial ecosystem.