Empowering  Women   Business  Owners  in  Sri  Lanka:  WEConnect   International  and  U.S. Embassy Host Key Events to Advance Gender Inclusive Supply Chains

WEConnect  International, with support from the U.S. Embassy, is proud  to host  a Supplier  Development Masterclass and  the  Supplier  Diversity and Inclusion Roundtable in Colombo, Sri Lanka. These events aim to empower and connect  women-owned businesses  with  key  industry   leaders  and  potential buyers,   fostering economic growth and promoting gender inclusivity within value chains.

U.S. Ambassador Julie Chung joined more than 40 Sri Lankan women business owners as they participated in the Supplier Development Masterclass, an advanced training program featuring in-depth lessons on business strategy, marketing, technology, negotiation, and sales. The class culminates in a pitch  session where  participants presented their businesses to a panel  of buyers, providing valuable feedback and potentially opening doors to new business opportunities.

The Supplier Diversity and Inclusion Roundtable brought  together more than 35 diverse  stakeholders, including  U.S. diplomats, global  business leaders, Sri Lankan government representatives, private enterprises, civil society, and academia. This multi-stakeholder discussion aimed   at  developing   innovative  strategies for embedding gender  inclusivity  into  value  chains, leveraging technology and best business practices to drive transformative change.

Sri Lanka has  made significant strides in gender  equality,  yet women-owned businesses still face challenges in accessing markets and finance. Women make up approximately 35% of the total labor force in Sri Lanka, but only a small percentage are business owners. According to the International Finance  Corporation (IFC), only about 20% of formal small  and  medium enterprises (SMEs) in Sri Lanka are women-owned. These initiatives are crucial for bridging this gap and ensuring that women entrepreneurs can thrive in the competitive market.

Gender-responsive sourcing  is vital for inclusive economic growth. By incorporating more women- owned  businesses into supply chains, companies can enhance innovation,  improve sustainability, and contribute to social  equity. Research has  shown  that  diverse  supply chains are not only more resilient but also deliver better business outcomes. Embracing supplier diversity helps create a more equitable economic landscape, driving both local and global prosperity.

These events are  part  of WEConnect  International’s Women’s Empowerment Through Economic Inclusion initiative, funded  by the  U.S. Department of State’s Bureau  of South  and  Central  Asian Affairs. This initiative focuses on generating long-term  opportunities for women-owned businesses to connect and conduct business with large buyers,  including local and multinational corporations, government agencies, and  non-profit  and  non-governmental organizations in India, Bangladesh, Maldives, and Sri Lanka.

“I’m thrilled to meet  so many inspiring women entrepreneurs and glad that the United States can be part  of their  success story.  When  women  are  fully included in decision-making and  economic development, we all benefit. Empowering women in business drives inclusive, sustainable growth for all Sri Lankans,” said Julie Chung, U.S. Ambassador to Sri Lanka.

“We are proud to partner with the U.S. Embassy to advance supplier diversity and inclusive sourcing in the  region.  These initiatives  are  pivotal  in creating  economic opportunities for women-owned businesses and driving positive social change,” says Saritha Venumbaka, Chief Operating  Officer of WEConnect International.