Tag: SMEs

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Finance

5 Smart Ways To Eliminate Debt & Grow Your Small Business

5 Smart Ways To Eliminate Debt & Grow Your Small Business
5 Smart Ways To Eliminate Debt & Grow Your Small Business

If you ask any small business owner or entrepreneur to name their foremost hardest challenges that don`t let them sleep in the night, they will say without a second thought- money!

Paying off debts, growing business, increasing profitability, and achieving financial freedom are a few challenges that SMEs and MSMEs often face. This was true before the pandemic, but after it, it has become even more crucial for entrepreneurs to overcome money challenges.

According to a survey published in Forbes, “95% of businesses surveyed said the pandemic had affected their bottom line, and 53% estimated that 2020 revenue would drop by more than a quarter.”

Even the best business coaches often come across questions like ‘how to get my business out of debt’ or ‘how can I repay my loan as soon as possible’ by small business owners.

Most entrepreneurs begin their start-up by arranging funds through debt funding, equity funding, loans, or through other less formal sources like friends & family. But the experience of being in debt can be scary as well as overwhelming.

If managed smartly, borrowing funds can help you accomplish your goals. On the other hand, mismanaged business debts can not only affect your financial wellbeing but can also cause mental stress, especially to small business owners that are worse affected due to the Covid-19 pandemic.

There are many government schemes to help small business owners with loans. The Indian government had offered relief to MSMEs in the form of subordinated debts, collateral-free loans, and equity infusion through its Fund of Funds (FoF) scheme in 2020. This scheme proposes to purchase up to 15% growth capital in high-credit MSMEs.

You can watch this video by Dr. Vivek Bindra on “How to Pay Off Your Loans”:

If you have a well-thought financial plan, you can solve the cumbersome process of taking your business out of debt, just like others. Here is how you can chart your way out of debt:

1. Manage Your Debts

The first step that will take you closer to managing your debt is to organize all the details of exactly what you owe. Make a list of your debts with EMIs, interest rates, and tenures. This will help you recognize the costliest debts.

2. Settle Costliest Debts First

After sorting out your debts, pick the costliest one! Costly debts, if not paid on time, will extract the highest interest. This can drain your finances. Hence, settle your costliest debts on a priority basis.

3. Plan Monthly Budget

One of the most vital debt management techniques is to plan your monthly budget. Make a list of your income & expenses while deciding your monthly budget. This will give you a clear picture to think about ways to reduce your daily expenditure. Having details of monthly cash inflow and outflow can help you save money that you can use to clear your debt.

4. Consolidate Loans

Sometimes keeping a track of all the loans can be difficult. If you have too many loans, consolidating them into one can be a good idea. This will leave you with just one EMI. Business loans, personal loans, and credit cards provide you with this option. It will remove various debts and leave you with just one loan to track.

5. Insure Against Economic Shocks

The future is uncertain and it is wise to protect yourself from uncertainties that you might be exposed to. E.g. a loss of a job could lead to delayed EMIs. So, to avoid such situations, create an emergency fund to help you sustain yourself during a bad phase. Ideally, this fund should be 3-6 times more than your current monthly income.

Repaying loans is a moral, legal, and also financial obligation. With smart and effective debt management strategies, you too can get your business out of debt. Learn how to manage your debt with the top-industry leaders from our Problem Solving Courses.

Categories
Business motivation

5 Real-Life Business Lessons You Can Learn From Billionaire Professors On BB Community App!

5 Real-Life Business Lessons You Can Learn From Billionaire Professors On BB Community App!
5 Real-Life Business Lessons You Can Learn From Billionaire Professors On BB Community App!

Summary: You can`t build great wealth without a strong foundation. Period.

No matter which university you attend and how qualified you are; it alone is not enough to strike success. You can go to the world`s best university and enroll in numerous professional courses, but nothing can beat the experience and knowledge that you gain from those who have been in the industry and riding the waves.

From Dhirubhai Ambani to Gautam Adani, Steve Jobs to Bill Gates many successful millionaires and billionaires have not attended formal schooling. But that does not mean that you should discontinue your education. Take quality education, but also learn from the experts. Enroll yourself in webinars where top industry leaders are sharing their knowledge, experience, and lessons that you might never learn anywhere else.

For such an experience, you can download Bada Business Community App where you can attend a free Masterclass with Billionaires.

One of the major goals behind this unique idea of Dr. Vivek Bindra is to prepare today`s generation for entrepreneurship. Hence, it is crucial for everyone who wants to start their own business to learn from instructors who have practical, real-world experience within a particular field.

Here are some of the major benefits of learning from professors with industry experience:

1. They Can Help You Understand Industries Better

The business world is vast and there are lots of aspects associated with a startup that needs to be understood to grow and scale. There could be dozens of subtopics, theories, and other relevant points that these billionaire professors can impart in their Masterclass with true practicality.

They can help you to ignore the least important and focus on the information that is the most practical and relevant pieces of the pie. They can also help you understand what it means to be an entrepreneur and many other real-world challenges of the business.

2. They Understand Key Skills for a Certain Industry

A successful billionaire from a specific industry knows the nitty-gritty of a business and one can learn specific skills needed for success. These professors have accumulated years of experience and can teach entrepreneurs, students, solopreneurs, and wantrepreneurs to start their businesses and then flourish in that role with their entrepreneurial skills.

Although many organizations provide training to their employees through the best corporate trainers, learning from the top industry experts means bringing a toolbox of skills to daily hustle when managing a startup business.

3. They Have Their Finger on the pulse of the industry

Professors with a specific industry can share the current or recent pulse on a particular industry. For instance, a specialist who is working in a stockbroking firm can share his or her experience with you about what it is like to work in that particular area. What are the factors one should consider while investing their money or what challenges you can expect if you want to make your career in that particular area?

This entire experience might also include how to make clients or what are the upcoming trends you might get to see in that particular field. This first-hand experience is priceless and one can only get this in our Free Masterclass of Billionaire Professors.

4. They can teach about potential challenges & solutions

Our top industry experts have been exposed to a variety of situations and challenges in their relative fields. This helps them to bring that experience and professional expertise to the table. They can communicate these experiences and how they dealt with them in the past, what did they learn, and how you can improvise on them.

For instance, if you want to start your dream venture with minimum investment, you can learn from these experts how to handle clients, build your network, and do marketing of your products and service with zero to a minimum investment. You may read about various strategies in a book, but there is a huge difference between a theory and practical experiences. It can be tough to find this type of firsthand knowledge in a textbook. So why not download the BB Community App now to get a unique first-hand experience?

5. They can help you with professional networking

There is a good chance that after learning from these billionaire professors you will be able to connect with professional connections to a particular field. Why? Because on BB Community App you can find thousands of business professionals who are sharing ideas and working towards a common goal—build their startup.

You can interact with professionals with years of experience or you can bond with young minds that are full of innovative ideas and out-of-the-box solutions. No matter what your goal is, you can fulfill them at BB Community App, which is not just an app for sharing pictures of your breakfast or linking with a common friend but to connecting with a world of SMEs and entrepreneurs.

Download the app now: https://tinyurl.com/nhav2kp6

Categories
Process & Business Expansion

5 Reasons To Attend Masterclass On Bada Business Community App

5 Reasons To Attend Masterclass On Bada Business Community App
5 Reasons To Attend Masterclass On Bada Business Community App

For every great thing, you have to pay a price. For so many years, we too believed in this adage. But, since Bada Business has started a series of Masterclass events on their community app, we believe a few things are amazing and still available for free.

The Masterclass webinars on the Bada Business community app are aimed at educating entrepreneurs, solopreneurs, wantrepreneurs, students, and small business owners across several topics related to business strategies, frameworks, investments, funding, stock market, and various aspects of distinct industries.

The webinars have attracted a great deal of interest from professionals and leaders alike, and so far they have welcomed many experts from different industries across India. With so many experts coming and sharing the same platform for the benefit of entrepreneurs, we thought we will take a look at five reasons why professionals should consider attending future Masterclass:

1. To Educate Entrepreneurs

The original purpose of conducting a free Masterclass online was to give small business owners, entrepreneurs, and many SMEs a greater insight into the often confusing world of business fundamentals. The basic education was only accessible to those who pursued management courses from the top Indian universities that are expensive for the majority of the population in our country.

The format of Masterclass is developed to educate individuals in the professional community, broadening their horizons to start their dream projects even with minimum investment. The webinars are aimed to help entrepreneurs to ease out their everyday dealings with clients and customers and potentially use them to benefit their circumstances. Previous sessions covered a diverse range of topics on the stock market, time management, how to increase sales through Google AdWords.

2. Gain Valuable Insights From Industry Experts

For every Masterclass, an external speaker is invited to share his expertise and present years of experience, providing an excellent opportunity to gain insights directly from experts in the field. Topics are chosen based on requests from the audience and a relevant speaker in roped-in.

3. Network with Fellow Professionals

Though LinkedIn is a popular platform for professionals, interacting with fellow professionals from a large community is a different experience, altogether. With up to more than 2000 people attending our Masterclass, we get a unique mix of professionals in every session. The discussion and interaction that follow these webinars are informative and help in building a network with fellow entrepreneurs, SMEs, and solopreneurs.

4. Convenience to Learn Anywhere

Most working professionals, who want to work upon their dreams, often face difficulties when it comes to learning new things from the experts. To make the learning process easy and hassle-free, our Masterclass is conducted on Bada Business Community App and offers convenient slots. From start to finish our webinars last for only 2 hours, so you can be away and back at your desk within no time.

5. Become a Content Creator

Ever thought of creating content that provides value to your users? Apart from attending Masterclass by our experts, you can upload different modes of content i.e. interactive videos, infographics, and images on the Bada Business community app. You can also get constructive feedback from your users that can help you to make improvements. Bada Business community app is an interactive platform where small business owners, entrepreneurs, and SMEs can share a platform dedicated to the business community.

But don`t just take out word for it!

We have received some excellent feedback from people who have attended our Masterclasses on the community app. You too can get a firsthand experience by downloading the app from the link: https://tinyurl.com/nhav2kp6

You too can explore the infinite possibilities that Bada Business community app offers!

Categories
Business motivation Technology

How Bada Business Community App Helps Your Business to Grow Exponentially?

How Bada Business Community App Helps Your Business to Grow Exponentially
How Bada Business Community App Helps Your Business to Grow Exponentially

Summary: Are you an entrepreneur who is looking for a dedicated platform to interact with other business owners and industrialists to discuss innovative ideas and creative approaches to various business challenges? Bada Business community is the answer.

“Alone we can do so little, together we can do so much.”- Hellen Keller

This inspirational quote has been a popular one with us. So many times whenever we forget the power of community, this quote reminds us of the unforgettable strength of people coming together for a common and a greater cause.

This theory can be applied in many aspects of life- both professional and personal. For instance, a business can be founded by a single person, but its sustainability and growth depend on its employees. Whether it’s a startup or a large company, an organization can achieve its goals only if its manpower works together and play its part perfectly.

Similarly, in today`s digital world, a brand can make its presence when it reaches out to its target audience. But, not every customer is your customer. And not every platform is meant for your business.

For instance, where Facebook promotes strong family relationships, LinkedIn symbolizes a platform that is meant only for professional relationships. You can share your vacation pictures on Instagram and Facebook, but on LinkedIn, you will have to abstain from doing so. Hence, a company needs to identify its target niche for business growth and scalability.

For so many years, we have been witnessing the surge in social media platforms that are meant solely for entertainment purposes. There is a dearth of good social media platforms that are meant only for entrepreneurs, solopreneurs, wantrepreneurs, SMEs, and MSMEs. A platform that allows its users to learn the twisted dynamics of business fundamentals in a layman language is the need of the hour.

According to InvestIndia.gov.in, our country witnessed the birth of 44 unicorns with a total valuation of $92.77Bn in 2021. In the first two weeks of January 2022, India has got its 2 unicorns.

Since the onset of COVID-19 many young entrepreneurs are looking to take their startup businesses to the next level. But due to lack of guidance and a tailored-fit community, they often end up doing a 9-to-5 desk job. To help the Indian youth with their entrepreneurial journey and small business owners, we have launched the Bada Business community app!

What is Bada Business Community App?

Bada Business community app is India`s 1st platform where a large community of entrepreneurs, solopreneurs, wantrepreneurs, and SMEs come together for learning and growth.

Most often business owners, entrepreneurs, and even popular brands use platforms like Facebook, Instagram, Twitter, and LinkedIn. Though using these platforms might result in good marketing, the absence of a relevant audience and trustworthy partners lead to slow business growth and less lead generation. Where using social media platforms might be helpful for the B2C business model, for B2B business, these platforms often result in a waste of time and effort.

At Bada Business community app, you will find relevant people with whom you can discuss the possibilities of business and share your ideas. What`s more? You can find 1 Lakh active followers in just 100 days, who are genuinely interested in your product or service and are not just looking for a marketing gimmick i.e. follow for following, like for like.

Key Benefits for Bada Business Community App

Apart from helping the community of business owners grow, there are various benefits of using this app. Here are some listed below:

  1. Build Your Network

If you want to become a social media influencer or a content creator for your niche target audience, the Bada Business Community App can help you to build your network. You can easily share knowledge and information and attract more potential customers.

  1. Learn Vital Marketing Skills

When you connect and share with like-minded people, you grow, unexpectedly! Many marketing experts, subject matter experts, and advertisers are present on Bada Business Community App! You can learn advanced sales techniques, digital marketing strategies.

  1. Attend Masterclass by Industry Experts

When we subject matter experts, we don`t mean the self-proclaimed ones! On Bada Business Community Experts we have experts from the industries with whom you can learn the dynamics of the business world. From video editing to data management, sales techniques to digital marketing, you can learn anything from our free Masterclasses!

  1. Create Unique Content

Ever thought of creating content that provides value to your users? On the Bada Business community app, you can upload different modes of content i.e. interactive videos, infographics, and images. You can also get constructive feedback from your users that can help you to make improvements.

Bada Business community app is an interactive platform where small business owners, entrepreneurs, and SMEs can share a platform dedicated to the business community. You too can explore the unlimited possibilities that India`s no.1 platform offers, today!

Download now! https://tinyurl.com/nhav2kp6

Categories
Startup

The Bada Start-Up Show: Top 3 Reasons Why Entrepreneurs Must Participate

The Bada Start-Up Show: Top 3 Reasons Why Entrepreneurs Must Participate
The Bada Start-Up Show: Top 3 Reasons Why Entrepreneurs Must Participate

A great idea, it takes a form of reality that can result in the “next amazing venture”. Anyone can have a big idea to start a startup business, but no market exists for just creative ideas. What separates wantrepreneurs from entrepreneurs is the ability to execute a vision.

Turning an idea into a tangible product or a service that can resolve customers` problems take a ton of effort. And the hardest part about running a startup business is to build it from the scratch. Meeting investors, raising funds, learning the ropes, and finding those first few customers is far from easy.

Success requires hard work, determination, and passion. So among many other millions of things that you are doing right now to take your startup business to next level, entering into entrepreneurship competitions could also be the perfect catalyst that you might need right now.

Many shows provide an excellent platform to startups and their founders where they can showcase their journey. Startup shows and competitions not only get small business startups ‘out of the building’ and provide them recognition, but they are also a great way to begin validating your business, products, and service.

Startup shows give a chance to young and fresh entrepreneurs to share their struggles, ideation, hard work, and endless efforts that go behind their products and services. Though it will take great efforts from the participating startups, the recognition and exposure that these shows will give the new ventures are enormous.

Apart from that, there are many other advantages startup businesses can gain by entering into competitions than the prize. We are sharing the best ones with you below:

1. A Chance to Meet Your Competitors

Participating in a competition can give you a larger picture of your business. It will force you to think and rethink critically about every aspect of your business. You will get an opportunity to know your industry, competitors, distinct challenges, and the market you are addressing. In order to compete, you will have to assess the competitive landscape, set your short-term and long-term goals, and define your value proposition.

Not all shows and their formats are created equally. There exist a wide variety of platforms that are tailor-made for specific industries, company stages, etc, and thus, every entrepreneur should do in-depth research before jumping in.

2. Helps You Find Your Perfect Pitch

Pitch, Pitch, Pitch! Talk to any entrepreneurs and they will tell you that they are always thinking about ways to pitch their startup business plan to investors and stakeholders. But telling your story, pitching your business idea, or selling your value proposition requires patience and practice. However, when you are competing against others, you will have to find what works and what doesn`t to be your best version.

Test your pitch on your friends, colleagues, family, or your teammates. Take their feedback, observe how they react, and don`t be afraid of rejections.

3. Startup Shows Help Your Optimize Unique Value Proposition

Competition forces you to think ‘out-of-the-box and get creative to stand above the rest. At times, you will have to put down your business on paper. Hence, practicing your written communication as well as your presentation skills is essential to build your unique identity as a brand to create an exceptional recall value.

This process can give immense benefit to your startup business regardless of how you perform in the competition or if you win it. If you are looking for an amazing show where you can provide the exposure to your startup business that it deserves, you can take part in The Bada Startup Show.

The Bada Startup Show is also a unique kind of show which is meant to provide an excellent platform to a small startup business. The major goal of the Bada Startup Show is to empower the Indian SMEs and MSMEs by showcasing their journeys on National Television and social media channels of Dr. Vivek Bindra, founder and CEO of Bada Business Private Ltd. He is also one of the best motivational speakers and leadership consultants in India.

The Bada Show will give a golden chance to startups across India to showcase their entrepreneurial journey and get their story covered by celebrity anchors. Not only this show will be a huge platform to reach a wider audience at no cost, but will also give global recognition as Dr. Vivek Bindra`s YouTube channel has 17+ subscribers.

It is important to understand that entering into any competition requires endless efforts and determination with no guaranteed returns. However, learning is great! And experience is valuable. There is much more to gain by entering into competitions than the prize.

So are you ready to participate in the Bada Startup Show exclusively for Indian entrepreneurs? To participate, you can click here: https://badastartupshow.badabusiness.com

Categories
Startup

4 Powerful Marketing Tools To Grow Your Small Startup Business

4 Powerful Marketing Tools To Grow Your Small Startup Business
4 Powerful Marketing Tools To Grow Your Small Startup Business

Almost half of the population around the globe has online access thanks to cheaper internet plans and affordable smartphones. Today, the internet and phones are available even in the remotest areas of India. The easy accessibility of the internet is a golden opportunity for entrepreneurs, SMEs, MSMEs, and small startup businesses to start thinking seriously about digital marketing strategy.

From Search Engine Optimization to website analytics, marketing tools have the ultimate power which is the key to having a constant flow of leads. If used properly, they can also bring a significant boost in business profits.

So what are those 5 Digital Marketing Tools that can transform your small startup business ideas into a growing successful business? Here is a list:

1. AUTOMATED WEBINAR

A great way to scale your business is to host an automated webinar. An automated webinar is a pre-recorded webinar that stimulates live activities to make the participants believe that they are part of a live event. But the catch here is that you should only host it once.

Hosting a webinar is a brilliant way to reach out to your audience. They act as part of a sales funnel and can be used to explain distinct aspects of your business. It could be a new product launch, a complicated bundle of services, or the lack of sufficient demand in the market.

Companies can automate their sales process, save their resources and time. Several companies like Bada Business have started using webinars as their main source of leads. A webinar is an attractive method for you to cultivate your potential customers and move clients from one rung of the funnel to another.

2. CHATBOTS

A chatbot is not a novel tool. A chatbot is an instrument based on Artificial Intelligence software that can communicate with people as humans do but through chat windows. The use of this technology can improve the company’s business performance by 5% to 25%. Chatbots can provide multiple benefits to startup business. It can help to reduce costs as through chatbots companies can offer 24-hour customer service. This will help to resolve customer`s queries without any delay and help to scale the organization`s customer experience.

There are many companies like Indigo and Kotak Mahindra Bank that are already using chatbots. This helps companies to establish more personalized and efficient communications with potential clients.

3. VOICE SEARCH

Voice search is an amazing digital marketing tool for startup businesses that can turn around your SEO strategy, for the good. According to a report by finance online, the average number of voice searches per month is one billion. One of the most popular technologies utilizes innovations like Google Assistant, Amazon`s Alexa, and Apple`s Siri.

More and more users are using voice search instead of typing in their search bar to explore the vast reserve of the web. The voice search changes the keywords according to what people use to find when they are looking for something particular. This tool not only tracks keyword distribution but also analyzes and assesses your search visibility.

4. USER-GENERATED CONTENT (UGC)

Standing true to its name, UGC is any type of content including texts, photos, videos, memes, etc. that is created not by the brands, but by the users, customers, and clients. Brands then share UGC on social media platforms for further promotion.

Using UGC has many benefits. First, it can directly influence organic growth because a consumer looks up to another consumer for honest feedback. Second, the algorithms of social media platforms are built on the principles of UGC or user-to-user communication. After all, it is the new word-of-mouth.

A digital marketing tool is a sophisticated way to enhance the business process within your startup business or an organization. The above-mentioned tools can help to promote your products and services, generate qualified leads, and increase sales.

To understand more about using digital marketing and how it can influence your business, you can take our business coaching program.

Categories
Business motivation

How Investors can contribute with more than Investing Just Money into the Startups

Investors
ईज ऑफ डूइंग बिजनेस

Investment is the blood of any startup that is vital for its smooth functioning. However, investing in startups is a lot more than just buying stocks.

A report by IBM (Institute for Business Value and Oxford Economics) stated that around 90 percent of the Indian startups fail within the first 5 years of their inception due to the lack of innovation.

Truth to be told, many entrepreneurs themselves believe that post the initial ideation, the startups fail to scale because they lack funds, strategy, or strong leadership. More often than not founders or the owners of small businesses place too much focus on raising money, rather than emphasizing the value that each investor can bring to the table.

So how can an investor add value to the startups beyond making investments into the company?

  1. Financial Aid & Funding

Needless to say that backing startups with finances are often a huge advantage if you are an investor. By providing capital and financial aid, an investor adds immense value to a startup. But, it would be beneficial for the startup if an investor brings more than just money to the table.

As the initial years are crucial for small businesses, investors can help MSMEs and SMEs with their deep industry insights and mentorship. They can help young entrepreneurs in the early stage of the business and guide them to success.

  1. Strategic Planning & Decision Making

Customer satisfaction, cost-effectiveness, and relevance of the product or service in the target market are often lost in the struggle to scale. A seasoned investor who has gained expertise with years of experience can lay a crucial role in decision making.

By making available strategic planning, investors can also help in achieving market penetration and profitable operating ratios.

  1. Network Creation

For small businesses, it is essential to gain access to the right people at the right time in the early stages. An established investor can help in the creation of valuable connectivity to the potential customer or the right talent pool.

Young entrepreneurs who hail from tier II or III cities struggle in finding the right investors and right talents due to the limited access. Hence, investors can help small business owners by being the mediator in business talks. They can also help entrepreneurs in grooming and incubating new profitable ventures to help them grow.

  1. Visibility & Credibility

To add and increase the overall value to an innovative startup venture media attention and access to established domains are required. Hence, an investor can help to build associations with industry doyens, which results from a startup gain visibility and credibility in the market.

Making introductions, build meaningful & profitable associations, giving insights, an investor can do more than just buying the company stocks. With their immense contribution, they can increase the chances of that company`s success.

If you think about it more deeply, why an experienced investor shouldn`t help the startup he is investing in? Want to know how you can find an investor for your business?

Learn the best business strategies that will help you to get investment for your small business with our Everything about Entrepreneurship course. To know more about this course and exclusive offers, click here https://www.badabusiness.com/?ref_code=ArticlesLeads.

Categories
Strategy

BSE Signs MoU With Maharashtra Govt To Encourage SME Listing; Here’s How the Pact Will Benefit SMEs in Maharashtra

Online Business
Online Business

Mumbai, January 20: In a bid to create awareness about benefits of listing among small and medium enterprises (SMEs) in Maharashtra, leading stock exchange BSE has now joined hands with the state government. The BSE has signed a memorandum of understanding (MoU) with the government of Maharashtra on Tuesday, the exchange said in a statement. Under the pact, the BSE will provide intellectual and manpower support to create awareness about the benefits of listing among SMEs and will enable capacity building to such enterprises to fulfil listing requirements. Moreover, the BSE will provide training and capacity building support to District Industries Centre officials.

Here’s How the SMEs in Maharashtra Would Benefit:

  1. Under the MoU, the Maharashtra government will help in mobilizing the SME representatives and state and regional associations to encourage their SME members to attend capacity building programmes.
  2. In addition, the government will also reach out to industrial associations in the state for conducting joint seminars with BSE to create awareness among SMEs about benefits of listing.
  3. This MoU will help the micro, small and medium industries in the state to get registered in the capital market and raise capital from the public capital market.
  4. Subhash Desai, Minister for Industries & Mining in Maharashtra government said that BSE will also provide technical support to all the MSME industries in Maharashtra.
  5. The pact will further encourage more and more SMEs to list and raise equity capital on the exchange.

Ajay Thakur, Head-BSE SME and Startups said, “Through this collaborative effort, we will be able to reach out to various SME representatives and industry associations of the state and create greater awareness about the benefits of listings among SMEs of the state.

BSE had launched its SME platform in March, 2012. Till now,  331 companies got listed on the platform by raising Rs 3,381 crore and the market capitalization of these companies collectively stood at a little over Rs 21,566 crore. Out of 331 companies, 95 have migrated to main board.

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MSME

SMEs Shifted Towards Online Marketplace to Cope-Up with COVID-19 Pandemic, Says Report

SMEs adopted digital platforms to cope up with COVID-19| Representational Image (Photo Credits: Pixabay)
SMEs adopted digital platforms to cope up with COVID-19| Representational Image (Photo Credits: Pixabay)

Various businesses suffered huge losses this year owing to the COVID-19 outbreak and the consequent lockdown. All the economic activities, expect for essential items, came to a standstill. However, many businesses did find an alternate route to keep going – the online business platform. Firms increasingly took their businesses online and avoided the traditional physical marketplace. Small and Medium enterprises also entered the digital business spectrum. According to a survey report by CRISIL, smaller enterprises have shown a “big digital shift” to shore up sales in pandemic times. National Startup Awards 2021: DPIIT Invites Entries to Reward Outstanding Startups; Know Eligibility, Prize and How to Register Online at startupindia.gov.in.

The survey was undertaken in November with the aim to find out the level of change in digital activities and access of the small businesses owing to the COVID-19 pandemic. The survey concluded that, the adoption of digital sales channels among micro and small enterprises (MSEs) has increased significantly since the COVID-19 pandemic struck. According to the survey by CRISIL, around 60 per cent of the respondents adopting digital selling said it helped them weather the pandemic-induced stress, while the rest said it boosted sales. 5 Auspicious Dates in January 2021 to Kick-Start a Startup!

10 Lakh महीने तक कमाओ | Low Investment | Business Idea | Dr Vivek Bindra | IBC 

 

“These respondents were also more positive about their near-term business situation compared with those that didn’t take the digital route,” said Bhushan Parekh, Director, CRISIL. “About 29 per cent of the MSEs surveyed were using digital sales channels such as online aggregators or market places, social media, and mobile marketing before the pandemic struck,” added Parekh.

“That number has shot up to 53 per cent among small enterprises and 47 per cent among micro enterprises as of November. Despite their limitations, micro enterprises are not very far from small enterprises in digital adoption. Also, many more are now saying they will take the digital route soon,” he said. “This underscores the fact that increasing digitalisation enlarges the footprint of MSEs, helping them tap newer markets and improving their access to credit,” said CRISIL’s director.

In the manufacturing industry, SMEs belonging to gems, jewellery and textile sector recorded the maximum improvement, as per the survey. Textile SMEs showed a massive jump of 38 percentage points in adoption of digital channels. Adoption in pharmaceuticals was unchanged at 29 per cent because of relatively higher offline demand during the COVID-19 pandemic.

Categories
MSME

Amazon, Flipkart & Other E-commerce Sites Attract SMEs to Help Them Accelerate Their Business in the Festive Season

Online Business
Online Business

Mumbai, November 3: Online e-commerce platforms like Flipkart, Amazon and others are seeing increased participation from several Small & Medium Enterprises (SMEs) ahead of Diwali 2020. The online platforms are also trying to woo the SMEs to help them accelerate their business amid the pandemic.

Some of the other e-commerce platforms like Nykaa, Myntra, ShopClues, Snapdeal, TradeIndia, and others are also giving the local business community a platform to onboard and sell products, hand-holding them through the processes.

Customers were given the opportunity to shop for unique products from thousands of Amazon sellers under various programs such as local shops, Amazon Launchpad, Amazon Saheli, and Amazon Karigar.

According to an Economic Times report, this surely comes as a positive sign as a survey by Neilsen had predicted that more than 85 percent of SME sellers on Amazon had expected to reach out to new customers and see an increase in sales. These businesses came up with interesting offers to attract the attention of the customers.

This pandemic has taught small companies to adapt to technology to accelerate growth, open up a market that had in the past viewed technology companies as competitors.