The purpose of this research is to propose a framework for SME development in the Western Province of Sri Lanka. The study shows that the SMEs in developed countries such as Singapore, South Korea, Australia and Canada are able to perform very well due to the effective supporting schemes in those countries and such effective supporting schemes are not available in Sri Lanka. The study identifies many factors that affect the SME development other than the supporting schemes. Some of them are: ineffective transport system, corruption, inflation, unstable power supply, lack of management skills of the managers, lack of innovation, high interest rates, lack of linkages with the larger enterprises, lack of business networks, appointing unqualified and inexperienced people to management positions, lack of capital and lack of a central institution to manage SMEs like SPRING Singapore. The study proposes some measures to rectify the situation. Finally, it proposes a suitable framework for the SME development in the Western province of Sri Lanka.
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This paper analyzes the impact of the Framework Economic Partnership Agreement (FEPA) on East African Community (EAC) trade with European Union (EU) for the period from 2000 to 2018. The analysis was carried out to estimate the impact of the interim EPA on EAC trade with EU using Gravity model approach. The variables employed in the study included trade flow of goods (exports and imports) between the two trade blocs, mass variables (real GDP growth, and per capita GDP) and dummy variables for capturing FEPA and time. The findings show that generally interim EPA did not benefit EAC economies and suggest potential for trade diversion. Burundi trade was adversely affected by FEPA while Kenya and Tanzania exports were positively impacted. The results may be influenced by weak productive capacities in EAC, global financial crisis which reduced global consumption demand, increased intra-EAC trade and trade with COMESA and SADC as well as low supply of goods for EU market.
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