Focus on empowering small businesses

International Standards Day on Oct. 14

Chesmal Siriwardene

Colombo: The World Standards Day falls on October 14. It will be observed during the National Quality Week which has been declared by the Sri Lanka Standards Institution from October 09 to 15. This year's theme is big benefits for small business.

The World Standards Day Message, jointly issued by the International Organization for Standardisation (ISO), International Electrotechnical Commission (IEC) and International Telecommunication Union (ITU) stress how small businesses could ultimately be benefitted by the international standards.

It is estimated that more than 95 per cent of the world's businesses are small to medium sized. Therefore, international standards need to provide as many benefits for small businesses as they do for global enterprises, governments and society at large.

International standards developed by ISO, IEC and ITU have been instrumental in the development of electrical power grids and telecommunication/ICT networks and global supply chains, opening up more avenues for small businesses. ICT standardisation, in particular allows small businesses to reach far beyond their physical location in search of new markets.

Especially with the growth of the internet, any company, regardless of size can easily reach to the world by having a shop window to the world.

In addition, standardisation forms a basis for partnerships and commerce unconstrained by location by supporting digitalized manufacturing and quality control processes, product information and financial transactions.

Small businesses have at their disposal management systems and conformity assessment standards which help them get established as reliable suppliers and business partners, to satisfy regulations, or qualify for procurement tendering.

International standards provide practical solutions to many of the challenges faced by small businesses in today's globalising markets.

This will allow small business owners and managers to further enhance their traditional values of hard work, enterprising spirit and close attention to the requirements and satisfaction of their customers.

International standards have facilitated economic developments and dissemination of technologies empowering small businesses, as much as their larger counterparts.