Bhathiya Barukanda
Good morning, everyone.
It is a great pleasure to be here this morning with such an incredible group of amazing and inspiring women entrepreneurs. I want to start by thanking WEConnect International for the remarkable work they do in empowering women entrepreneurs across the globe and here in Sri Lanka. We are proud of the many, many women businesses who have seen sourcing and meet sales success because of your work. Your dedication and commitment to fostering gender equality and economic inclusion are truly inspiring. As you heard, this was a very competitive event with many applicants so congratulations to those of you selected; you deserve to be in those seats with confidence!
We share the dedication and values of empowering women. In the two-and-a-half years that I’ve been the U.S. Ambassador here, we’ve found success in a large number of projects that empower Sri Lankan women to thrive and lift up their communities. We’ve worked to include women on corporate boards, including a 400% increase in the number of women on the board of the American Chamber of Commerce. We’ve sent young female aspiring scientists to India for a regional STEM conference that has now launched Girls in STEM clubs at schools and education centers across the island.
Just a few days ago, we celebrated the debut on the trading floor of the Colombo Stock Exchange of a woman-owned and led business, Maharaja Foods, started by Mrs. Thavamalar Guganathan. This month we are demonstrating U.S. commitment to women inclusion and empowerment through a series of events. This includes convening a regional network of women leaders to share business and leadership best practices. We’re also lifting the voices of Sri Lankan women photojournalists – making sure that get access to world-class training that previously only men could access.
Last year, I attended a WEConnect Asia Pacific Conference in Colombo when Sri Lanka was in the midst of recovering from an unprecedented economic crisis. A foreign exchange crisis, power cuts, hyperinflation, and protests were daunting challenges. But even in those difficult times, I witnessed the resilience and ingenuity of Sri Lankan women. At the time, I noted, “Sri Lanka’s challenges are undoubtedly serious. But they are not insurmountable.” I saw and I heard examples of incredible ingenuity and inspirational efforts that contributed to the wellbeing of everyday Sri Lankans. There is one thing I am certain about and that is the resilience of the Sri Lankan people – and especially its women.
Today, my heart is full of gratitude for how far we have come. It gives me immense joy to see here among us Mrs. Rahivari Gamage, founder of Mineral Earth Soapery. She is making significant strides in the beauty and skin care industry. Her products, created by combining herbs, spices, and essential oils with locally sourced coconut oil, have captured the interest of Haritha Ceylon, who has placed orders for her entire product line
I was also impressed to learn the story of Mrs. Niroshini Rathninda, founder of Lady Green brand. Her aim is to turn environmental waste into valuable resources by creating eco-friendly products from discarded plant materials like corn husks and banana leaves. She is now providing Cinamon Grand Hotel with baskets and interior decor items. Their stories and your stories are a testament to your hard work, your resilience, and your perseverance.
I love advocating for women’s empowerment and even more so for women entrepreneurs, whose ideas determination and hard work has lifted up communities and contributed substantially to Sri Lanka’s economic and social development. In the last two years here in Sri Lanka, I have toured the country and met these women, each with a unique story to tell. Through their entrepreneurial journey, they have become beacons of hope for transformation and prosperity in their communities.
Some of the women I’ve met in my travels here include Sri Lankan entrepreneurs from the Hatch Works’ AccelerateHer project, which the United States proudly supports. One entrepreneur there started a food brand that sells mushroom-based products sourced from rural women farmers. Another designed a STEM-based education program for kids, providing do-it-yourself kits and personal feedback from tutors to help kids develop STEM skills. Like so many of the women in this room, the women at AccelerateHer found a market need and developed supply chains and workflows to fill that need.
We all know that women still face an uphill battle when it comes to equality, access to opportunities, funding, balancing work and family responsibilities, and navigating a male-dominated environment. Sometimes it may feel like women have to work twice as hard to be seen and heard in the business world. This is not a problem unique to Sri Lanka. In the United States, we face similar issues. However, I am proud to share a few recent statistics from the United States that I think show movement in the right direction: There are now 13 million women-owned businesses in the United States. They represent approximately 42 percent of total U.S. businesses. And their number continues to grow. In the recent post pandemic period, more U.S. women than men started businesses!
Support for women entrepreneurs is a way for a country to tap into a vast pool of entrepreneurial talent that can bring enormous growth. One study found that increasing women’s participation in the economy could add an additional $20 billion to Sri Lanka’s GDP. That’s almost a quarter of the country’s current GDP. And more businesses in the market mean stronger supply chain resilience. When women have access to economic opportunities, they drive innovation and job creation, lifting up their families and communities. Promoting and investing in women-owned enterprises is smart for businesses and beneficial to the entire society.
In today’s masterclass, you’ll be doing advanced business training. You’ll look at a business model canvas and work on developing a marketing and sales strategy. You’ll look at important technologies and business negotiation skills. From the outside, business success can seem like luck. And there is some element of luck. But the skills you’ll work on today can create predictable, repeatable business success. By the end of this workshop, you can stop hoping for success and start planning for it.
And while you start planning for success, I invite you to think of inspirational stories here in Sri Lanka. It was amazing to witness the historic #AsiaCup2024 win by Sri Lanka’s National Women’s Cricket team last week. This was a monumental achievement for women in Sri Lanka. They showed everybody, particularly the more famous male teams, how things get done through teamwork, perseverance, and tenacity. Now I hope they attain equality in salary that their male counterparts are getting – that would be an important next step.
Entrepreneurs and athletes have a lot in common. At first glance, they might seem different. But there are remarkable parallels in the qualities that drive success, resilience, and leadership.
During the Olympics in Paris, the world has watched the incredible medal winning performance of U.S. gymnast Simone Biles. Just three years ago she made the brave decision to step down during a competition, to care for herself, and to heal. Many people thought her career was over. But it wasn’t. She worked hard, navigating through rough waters, maintaining her vision and passion, and by embracing resilience, she turned obstacles into steppingstones and setbacks into triumphs, ultimately paving the way for her enduring success. If we slow down to listen, I think we all have a little bit of Simone Biles’s spirit in us – the intuition to know when to step back, the guts to know when to push harder, and the balance to come out on top.
Let’s end today by recalling the incredible entrepreneurial resilience and perseverance that characterizes each one of you.
As entrepreneurs, you will need to endure, adapt, and thrive amidst the inevitable challenges and uncertainties of starting and running a business. You will need to stay focused on your plans and your goals, continuously learn and grow, even when faced with significant obstacles.
Sri Lanka will grow only stronger when all voices are included. We all benefit when women are fully included. Supporting women will foster inclusive, sustainable growth for all Sri Lankans. Everyone here today – those who undoubtedly put in hours of hard work, sweat, and tears to pursue your dreams – remind me of the incredible work that we have done together. I look forward to hearing your future success stories, so keep achieving those gold medals in business and in life. Best of luck to you.
Thank you!
Source: lk.usembassy.gov
