When and how to diversify your business

Small and Medium Enterprises (SMEs) are the backbone of the Sri Lankan economy, contributing significantly to employment and GDP. However, the country has faced several setbacks and businesses are struggling to survive, especially startups and SMEs. Diversification can be a powerful strategy to mitigate these risks and ensure long-term sustainability.

Small and Medium Enterprises (SMEs) are the backbone of the Sri Lankan economy, contributing significantly to employment and GDP. However, the country has faced several setbacks and businesses are struggling to survive, especially startups and SMEs. Diversification can be a powerful strategy to mitigate these risks and ensure long-term sustainability. When and how to diversify your business Read More In today's competitive landscape, brand image is no longer a luxury for startups. It's a crucial asset that can make or break a business, especially in a country like Sri Lanka where trust and credibility are often hard-earned. Building a Strong Brand Image: A Startup's Guide Read More In this video, Jehan Wijesinghe of Unicorn Factory discusses how to create a sales strategy and explains the use of a sales funnel. How do you build a Sales Strategy through a Sales funnel Read More We understand this is becoming a monumental problem for you. Small and Medium Enterprises (SMEs)in Sri Lanka are not only struggling with the increased cost due to economic downturn but having to deal with a deprived people who are constantly seeking to earn more or more job satisfaction. Five tips addressing staff turnover issues in SMEs Read More As we embark on a new year, Sri Lankan entrepreneurs have a unique opportunity to capitalize on the nation's impending economic resurgence and global trends. 2025: A year of Growth and Innovation for Sri Lankan Entrepreneurs Read More As the year draws to a close, it's an opportune time to reflect on your business's performance and set course for the next year/future. A comprehensive year-end assessment provides valuable insights, allowing you to identify areas of strength, weaknesses, and opportunities for improvement. How well did I do?  Year-end business assessment Read More
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137,175,543
Total active cases
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When and how to diversify your business Small and Medium Enterprises (SMEs) are the backbone of the Sri Lankan economy, contributing significantly to employment and GDP. However, the country has faced several setbacks and businesses are struggling to survive, especially startups and SMEs. Diversification can be a powerful strategy to mitigate these risks and ensure long-term sustainability. Read More Loyal Customers Developing a loyal customer base during the current crisis How can you ensure that you continue to build and retain a loyal customer base in the current crisis? Here are a few ways that just might work. Read More Building a Strong Brand Image: A Startup's Guide In today's competitive landscape, brand image is no longer a luxury for startups. It's a crucial asset that can make or break a business, especially in a country like Sri Lanka where trust and credibility are often hard-earned. Read More How do you build a Sales Strategy through a Sales funnel In this video, Jehan Wijesinghe of Unicorn Factory discusses how to create a sales strategy and explains the use of a sales funnel. Read More Five tips addressing staff turnover issues in SMEs We understand this is becoming a monumental problem for you. Small and Medium Enterprises (SMEs)in Sri Lanka are not only struggling with the increased cost due to economic downturn but having to deal with a deprived people who are constantly seeking to earn more or more job satisfaction. Read More 2025: A year of Growth and Innovation for Sri Lankan Entrepreneurs As we embark on a new year, Sri Lankan entrepreneurs have a unique opportunity to capitalize on the nation's impending economic resurgence and global trends. Read More How well did I do?  Year-end business assessment As the year draws to a close, it's an opportune time to reflect on your business's performance and set course for the next year/future. A comprehensive year-end assessment provides valuable insights, allowing you to identify areas of strength, weaknesses, and opportunities for improvement. Read More Economic Crisis Success strategies for SMEs to overcome the economic crisis and maintain consistency If you want to overcome obstacles resulting from the economic crisis and maintain consistency, here are a few things to get you started. Read More Practical tips to improve customer service How do you provide a better quality customer service while running a business? How does it benefit the business as well as the customers? Join us as we discuss this on today's podcast. Read More Work From Home Working from home to reduce costs - tips and tricks With the economic crisis that Sri Lanka experiencing now, can getting employees to work remotely save you money? Here are a few insights that will help you. Read More

Latest Articles

When and how to diversify your business

Small and Medium Enterprises (SMEs) are the backbone of the Sri Lankan economy, contributing significantly to employment and GDP. However, the country has faced several setbacks and businesses are struggling to survive, especially startups and SMEs. Diversification can be a powerful strategy to mitigate these risks and ensure long-term sustainability.

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On this Diriya Biz video segment, Prof Janak Kumarasinghe (Management Studies & Commerce Unit - University of Sri Jayawardenapura) speaks on the Sri Lankan Economic Policy and Entrepreneurs.
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Partner Content

StartupX Foundry

2025: A year of Growth and Innovation for Sri Lankan Entrepreneurs

As we embark on a new year, Sri Lankan entrepreneurs have a unique opportunity to capitalize on the nation's impending economic resurgence and global trends.

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Practical tips to improve customer service

How do you provide a better quality customer service while running a business? How does it benefit the business as well as the customers? Join us as we discuss this on today's podcast.
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Managing People

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Fundamentals of building a successful business is truthfulness’ – Anura Hemachandra, Managing Director Vogue Jewellers 

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The Late Herbert Cooray founded Jewing in 1973 based on values like Honesty and Humility. Today his son, Hiran - Chairman of Jetwing Hotels talks about the impact of that and the big picture. The first hotel was Blue Oceanic Beach Hotel in Negombo (now Jetwing Blue) which was orginally planned with 50 rooms but commenced operation with just six.

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Human Resources

Five tips addressing staff turnover issues in SMEs

We understand this is becoming a monumental problem for you. Small and Medium Enterprises (SMEs)in Sri Lanka are not only struggling with the increased cost due to economic downturn but having to deal with a deprived people who are constantly seeking to earn more or more job satisfaction.

Finance

Don’t get caught in economic weeds

Planning for a solid financial future is always important to help you avoid the economic pitfalls that you may otherwise fall into.

Law

Regulations Governing micro, small and medium enterprises

The Sri Lankan government has taken several initiatives to promote and support the MSME sector, including introducing laws and regulations that govern MSMEs. In this article we present the latest legal aspects and acts pertaining to the MSMEs in Sri Lanka.

Marketing

Building a Strong Brand Image: A Startup’s Guide

In today's competitive landscape, brand image is no longer a luxury for startups. It's a crucial asset that can make or break a business, especially in a country like Sri Lanka where trust and credibility are often hard-earned.

Strategy

When and how to diversify your business

Small and Medium Enterprises (SMEs) are the backbone of the Sri Lankan economy, contributing significantly to employment and GDP. However, the country has faced several setbacks and businesses are struggling to survive, especially startups and SMEs. Diversification can be a powerful strategy to mitigate these risks and ensure long-term sustainability.

Operations

How to downsize your SME during a crisis?

Learn ways in which you can downsize your SME, that will avoid drastic measures and instead actually benefit the business

Sustainability

When and how to diversify your business

Small and Medium Enterprises (SMEs) are the backbone of the Sri Lankan economy, contributing significantly to employment and GDP. However, the country has faced several setbacks and businesses are struggling to survive, especially startups and SMEs. Diversification can be a powerful strategy to mitigate these risks and ensure long-term sustainability.

Leadership

How to position your brand as a thought leader

A thought-leader is a person or brand that is an informed opinion-leader and usually the first resource in their field of expertise. They are a trusted source that moves and inspires, turns ideas into reality, and shows how to replicate their success.

Best Practices

Developing a loyal customer base during the current crisis

How can you ensure that you continue to build and retain a loyal customer base in the current crisis? Here are a few ways that just might work.

2025: A year of Growth and Innovation for Sri Lankan Entrepreneurs

As we embark on a new year, Sri Lankan entrepreneurs have a unique opportunity to capitalize on the nation's impending economic resurgence and global trends.

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