Institute for Rural Sustainable Development

IRSD PROJECTS

NEW INITIATIVE OF IRSD

Establishing an Entrepreneurial Women's Business cooperative

Establishing an Entrepreneurial Women's Business cooperative
Establishing an Entrepreneurial Women's Business cooperative

The Institute for Rural Sustainable Development (IRSD) has taken a pioneering step by initiating the establishment of an Entrepreneurial Women’s Business Cooperative (EWBC). This cooperative aim to empower women entrepreneurs by providing resources, networking opportunities, and support to help them establish and grow their businesses. This effort, the first of its kind, is supported by the Department of Cooperative Development – Central Province (CP), marking a significant milestone in the promotion of women’s entrepreneurship.

Objectives of the EWBC

The cooperative's core objectives are:

  • Empower Women Entrepreneurs: Equip women with the tools, skills, and knowledge required to start and manage successful businesses.
  • Facilitate Networking: Create a platform for women entrepreneurs to connect, collaborate, and share resources.
  • Promote Financial Independence: Foster sustainable income generation and economic empowerment for women.
  • Advocate for Policy Support: Represent the interests of women entrepreneurs to policymakers and stakeholders.

Expected Outcomes;

  • The establishment of the EWBC is expected to yield the following outcomes:
  • Increased number of successful women-owned businesses.
  • Enhanced skills and knowledge among women entrepreneurs.
  • Stronger collaboration and partnerships within the business community.
    • Greater economic contribution from women entrepreneurs in the Central Province.

Initial Discussion and Progress

An initial discussion was held on 17 December 2024 at the Department of Cooperative Development – CP auditorium. The event was attended by 67 women entrepreneurs representing 11 small-scale business categories. During the gathering, Mrs. Shirani Weerakoon, Chairperson of IRSD, outlined the main objectives and benefits of establishing the cooperative, emphasizing its role in fostering sustainable development through collaboration and empowerment.

Establishing an Entrepreneurial Women's Business cooperative


Importance of the Cooperative
Mr. Amila Navarathne, Commissioner of the Department of Cooperative Development – CP, highlighted the significance of forming a cooperative to address challenges collectively. He assured participants of the department’s support in providing the necessary legal framework and guidance to ensure the cooperative operates effectively.

Organizational Structure
To meet legal requirements and ensure smooth functioning, the organizational structure of the EWBC was established during the initial discussion. The structure includes:

Executive Board:
President/Vice President-Secretary/Deputy Secretary-Treasurer

Committees:
A committee of six members to oversee operations.

An Advisory Committee comprising:
Chairperson of IRSD/Industry experts/Successful entrepreneurs/Community leaders

Membership Tiers:
Individual women entrepreneurs.

Additionally, two coordinators from government institutions were appointed to facilitate the cooperative’s future activities and ensure effective communication between stakeholders

Future Steps
The registration process for the EWBC under the Department of Cooperative Development is expected to be completed within six months of its initiation. This cooperative will serve as a robust platform to unite women entrepreneurs, enabling them to overcome challenges and achieve collective success in their entrepreneurial journeys.

By fostering collaboration, enhancing skills, and advocating for policy support, the EWBC represents a transformative initiative for the sustainable development of women entrepreneurs in the Central Province.