The Unrealized Potential of SMEs/MSMEs in India
India’s SME/MSME sector has historically been one of the primary drivers of its economy. This sector is also an important source of employment and business opportunities especially in the rural and the semi-urban part of the country. Yet, their potential remains vastly untapped. Insufficient access to technology, technical, business and finance skills have been trotted up as the reasons why their potential has been going unrealized.
Fortunately, with the advent and the now prevalent and soon-to-be pervasive technologies like AI, Blockchain, IoT, Big Data Analytics, the time has never been riper for SMEs/MSMEs to digitally transform their businesses so they can grow multi-fold very quickly and at scale. These technologies are affording a level-playing field for SMEs like never before so they can play just as hard as the bigger companies and win. Gone are the days when they didn’t have a choice but to reconcile themselves to a future where they continue to remain an SME or an MSMEs forever.
However, the key to fulfilling the potential is with the decision makers at these businesses. They need to have a fresh perspective on disrupting their own business models from the past so they can seize the moment.
We at Growffy have been researching this space for a few years now and we strongly believe that a Digital Business Network that’s driven by an element of Trust amongst its players is one of the best ways of helping businesses of all sizes and particularly SMEs/MSMEs grow at scale and at a pace that’s sustainable and at a fraction of the cost that the traditional economy demands. We believe that SMEs typically have a budget or resource constraint issue that hampers their growth.
Growffy offers a way for SMEs to sign up with info on what you do, what you are good at, what you are known for, what you are looking for etc. so the platform can match you up with the right connections based on both relevance and trust as the underlying theme. This will enable you to reach out to a wider set of potential customers more quickly and in a cost-effective way and in a lot of cases essentially function as your outsourced virtual HR or Procurement or Marketing agent.
We launched our beta tool in Feb 2019. Please check us out at Growffy.com to get started. We’ve just rolled out our Business Leads generation tool to help businesses find business leads based on a given industry “Category” and a “Location” which is global and can be limited to a given radius.
We plan to introduce more features over the next weeks that will be orientated a lot toward getting businesses to network better, discover new and relevant leads faster etc. So, continue to watch this place closely for more updates.
