Chrysalis recognised for longstanding contribution to SME development as Sri Lanka launched the National SME Strategy Framework – SME NEXUS, a major initiative aimed at strengthening the country’s small and medium enterprise sector and supporting long-term economic growth.
Chrysalis recognised for longstanding contribution to SME development at SME NEXUS launch
The launch event, held in Colombo, brought together Government representatives, development partners, industry leaders, and other key stakeholders to introduce a unified roadmap for SME development. The framework seeks to improve competitiveness, encourage innovation, and create sustainable opportunities for businesses across Sri Lanka.
At the event, Chrysalis received recognition from the Ministry of Industry and Entrepreneurship Development for its sustained contribution to SME development and its efforts to strengthen the country’s entrepreneurial ecosystem. The award was accepted by Chrysalis Chief Executive Officer Ashika Gunasena on behalf of the organisation.
Chrysalis is a Sri Lankan non-profit organisation and social enterprise dedicated to empowering women and youth, promoting inclusive growth, and supporting community transformation. Formerly known as CARE Sri Lanka, the organisation became an independent affiliate of CARE International in 2016 and has since expanded its work across multiple sectors that contribute to social and economic development.
The recognition specifically acknowledged Chrysalis’ technical and collaborative support for national SME development initiatives. Among its contributions were efforts to simplify the Business Name Registration process and support the Ministry in strengthening the National Industry Database. These initiatives are intended to improve accessibility, efficiency, and coordination within Sri Lanka’s SME ecosystem.
The award also highlights Chrysalis’ ongoing work in supporting women-owned enterprises as well as women- and youth-led businesses. Through various programmes and partnerships, the organisation has worked to improve livelihoods, encourage entrepreneurship, and promote inclusive economic participation across different communities.
The launch of SME NEXUS marks an important milestone for Sri Lanka’s small business sector. The framework introduces a comprehensive national strategy designed to create a more coordinated approach to SME development. Built around a five-pronged strategic outlook, three implementation approaches, and an eleven-pillar strategy framework, SME NEXUS aims to align stakeholders and strengthen collaboration across the sector.
Developed by the Ministry of Industry and Entrepreneurship Development with support from the SME Advisory Committee and other ecosystem stakeholders, the initiative serves as a national platform for engagement. The framework is expected to improve coordination among public institutions, private sector organisations, development agencies, and entrepreneurs, creating a stronger foundation for sustainable business growth.
Industry observers view SMEs as a critical component of Sri Lanka’s economy, contributing significantly to employment generation, innovation, and regional economic development. Strengthening the sector is therefore considered essential to supporting broader economic recovery and long-term competitiveness.
The recognition comes at a particularly significant moment for Chrysalis as the organisation marks its 10th anniversary. Over the past decade, it has focused on community-driven development initiatives that address a range of social and economic challenges. Its work spans gender equality, youth leadership, social inclusion, climate resilience, peacebuilding, and economic empowerment.
Commenting on the award, Ashika Gunasena said the recognition reflects the collective efforts of communities, entrepreneurs, development partners, and stakeholders who have collaborated with Chrysalis over the years.
She noted that inclusive entrepreneurship and sustainable livelihood development remain essential to building resilient communities and supporting a stronger national economy. According to Gunasena, meaningful economic growth requires opportunities that are accessible to a broader segment of society, particularly women and young people.
Chrysalis also welcomed the introduction of SME NEXUS, describing it as an important step toward encouraging innovation, digital transformation, and sustainable growth within the SME sector. The organisation believes the framework can help create an enabling environment that supports enterprise development and strengthens business resilience.
Looking ahead, Chrysalis reaffirmed its commitment to advancing inclusive entrepreneurship and supporting enterprises that contribute to Sri Lanka’s long-term economic transformation. As the country continues efforts to strengthen its business environment, partnerships between Government institutions, development organisations, and private sector stakeholders are expected to play a vital role in ensuring the success of SME NEXUS and the broader SME sector.