Featuring stories and advice for aspiring entrepreneurs, including startup tips, business planning guidance, and interviews with successful business owners.
Discover the essence of spring with The Body Shop’s exquisite British Rose collection, a celebration of elegance and floral luxury. Enriched with rose petals, rose essence, and rosehip oil, complemented by Community Fair Trade aloe vera from Mexico, this iconic range offers a delightful experience for all skin types. Indulge in the opulence of the
The University of Ruhuna (UoR) has recently initiated a program in Industrial Entrepreneurship (IE) for Sri Lanka’s undergraduates, in collaboration with the Ministry of Industry and the Industrial Development Board (IDB). This program aims to cultivate an entrepreneurial mindset geared towards an export-oriented production economy within the country. As part of this initiative, UoR students
Sri Lanka’s burgeoning entrepreneurial landscape offers exciting opportunities for aspiring business owners. But with so many ideas floating around, how do you identify one with real potential? This comprehensive guide delves into the process of crafting a successful business idea in Sri Lanka, equipping you with the knowledge and strategies to navigate the path to
This guide explores the pros and cons of registering your business as a sole proprietorship in Sri Lanka. It also details the registration process itself. Advantages of a Sole Proprietorship Disadvantages of a Sole Proprietorship The Registration Process Here’s a breakdown of the steps involved in registering your sole proprietorship: Conclusion A sole proprietorship can
Congratulations! You’ve registered your business in Sri Lanka and are now on your way to becoming fully operational. The next crucial step is obtaining a Taxpayer Identification Number (TIN) from the Inland Revenue Department (IRD). This TIN acts as your business’s unique tax ID, allowing the IRD to track your tax activity and ensure compliance.
The Sri Lankan government has implemented significant changes to its income tax structure through the Inland Revenue (Amendment) Bill, published in October 2022. These changes aim to improve the country’s financial situation and affect individual taxpayers, corporations, and various industries. Individual Income Tax Brackets and Reliefs Revised The Bill introduces new tax brackets with varying
Sri Lanka’s e-commerce sector has the potential for significant growth, but a critical roadblock exists – the limited adoption of digital payment systems. This was the key message delivered by Daraz Head of Corporate Affairs, Public Policy & ESG, Anishka De Zylva, during a podcast discussion hosted by The Women’s Policy Action Network. De Zylva
Starting a business is exciting, but it requires careful financial planning to ensure its success. Here are five crucial money-related issues you, as a new business owner, need to address: By addressing these five financial essentials, you’ll be laying a strong foundation for your new business and increasing its chances of long-term success.
Naadam, a thriving cashmere apparel brand, boasts an origin story as unique and unexpected as its business model. Matt Scanlan and Diederik Rijsemus, the masterminds behind Naadam, found themselves stranded with Mongolian goat herders in the Gobi Desert during a post-college adventure in 2013. This unexpected turn of events sparked a business idea: to eliminate
Sophie Riegel’s journey to a six-figure side hustle began not with a hefty investment, but with resourcefulness and a love of thrifting. Turning a lifelong habit into a profitable business venture, Riegel’s story offers valuable insights for aspiring entrepreneurs seeking to make a mark in the resale market. Riegel’s entrepreneurial spirit didn’t require a significant