The Industrial Services Bureau (ISB) has successfully concluded seven comprehensive 5-day Business Plan Preparation Training programs for small and medium enterprises (SMEs) engaged in the plastic recycling value chain in Western Province of Sri Lanka. These programs, conducted under the EU-funded PLASTICS project, have led to the completion of 113 individual business plans by the end of November 2024, with an additional eight plans currently in progress. Another training session is planned for 15-20 SMEs later in December 2024.
The main goal of this initiative is to help project beneficiaries create strong 5-year business plans. These plans will focus on key areas like using resources efficiently, adopting cleaner production methods, promoting sustainable consumption, encouraging green investments, and ensuring social inclusion and gender equality. By taking this well-rounded approach, the initiative aims to support the circular economy by improving how plastics are collected, recycled, manufactured, and marketed.
Core Components of the Training
Participants learned to develop the following critical elements of a business plan:
- Vision, mission, and objectives.
- Marketing, production, and human resource plans.
- Financial planning, including ratio analysis.
This initiative not only supports business growth but also provides foundational documents for other project activities, such as accessing green finance, RECP (Resource Efficiency and Cleaner Production) assessments, QEMS (Quick Environmental Management System) certification, ISO 14001 compliance, and participation in buyer-seller forums.
Impact of the Training
The training had a significant impact on SMEs by providing them with practical knowledge to make structural improvements in their businesses. Participants also gained a clear understanding of profit and loss analysis, which has helped them make more informed decisions. As a result of the training, many SMEs have successfully secured bank loans and in-kind grant assistance using the business plans they developed.
The training sessions were held in Gampaha, Colombo, and Kalutara districts to make them easily accessible to participants. Expert trainers and business development specialists from ISB led the sessions, with ACTED staff managing the organisation and logistics.
This initiative marks a significant turning point for many SMEs, steering them toward sustainable, profitable operations aligned with circular economic principles.
