KEY DRIVERS OF DIGITAL ENGAGEMENT FOR MSMEs
A few key drivers for MSMEs to consider when implementing a digital engagement strategy. These include intentionality, cost-effectiveness, complementarity, and integration. Considering all of these factors, you’ll be well-off on your way to holistically engaging with digital technologies. Intentionality Increasingly, small business support organisations recognise that digital technologies can transform how they support small businesses. […]
How to Help 80 Percent of MSMEs to Become More Digitally Engaged
Governments can convene different players in an economy to support SMEs. In particular, private-sector companies can lend their expertise and provide access to larger clients and investors. These partnerships can also help SMEs develop their capacity. Ultimately, these partnerships can lead to increased innovation and improved economic development. Focus on Southeast Asia The digitalization of […]
MSMEs PLANNING AHEAD OF TIME
A good preplanning strategy will not only help you through a crisis, but it will also help you protect your employees, your business, and the economy in general. If you’re a micro or small business, planning ahead is essential to avoid major losses resulting from a crisis. It’s also an apt way to learn from […]
HOW CAN MSMES KEEP UP WITH THE MARKET PACE?
The e-commerce sales cycle is one way to understand MSMEs’ challenges. In an ideal world, a buyer would click on a link; a fulfillment system would select the product, fill out the customs form, and deliver the shipment to the buyer’s doorstep. However, in developing countries, this kind of convenience is still far away. The […]
WINNING THE BUSINESS LANDSCAPE BY BUILDING AN ABSOLUTE CUSTOMER COMMUNITY
Developing a community around your products or services is an excellent way to get new customers. MSMEs that lack access to loans or finance can’t buy a sturdy retail space. Flash floods can wipe out all the inventory in one day. Animal breeders don’t have access to weather forecasts, and drought can cause herds to […]
A STREAMLINED CASH FLOW EXEMPLIFIES POSITIVE FINANCIAL HEALTH OF AN MSME
Cash flow and financial management are extremely important for MSMEs, as it helps ensure that bills and employees are paid on time. This, in turn, helps the business grow. MSMEs fall into one of three categories: manufacturing, service industries, and a combination of the two. Effective management of cash flow is vital to the success […]
THE SME BANKING AND FINANCE LANDSCAPE TODAY
The SME banking and finance landscape today is highly digitized. Online banking services and mobile applications have been used by almost half of SMEs, and visits to ATMs and branches have decreased by 38%. This trend does set to continue as more customers prefer card payments and mobile banking. What can SMEs expect from these […]
BE FUTURE-READY WITH PREPLANNED MEASURES & STRATEGIES
In today’s environment, MSMEs are facing a number of challenges, including tax reform and global solidarity in fighting various business issues. While this may not be enough, there are measures that can help these businesses weather the storm. These measures can provide much-needed financial support to the MSMEs. The financial aid for these businesses will […]
OVERCOME MAJOR BUSINESS CHALLENGES
Even after strongly steering across the professional journey, MSMEs still face multiple challenges. The economic climate in India is still sluggish, and the government’s policies are not enabling them to compete successfully in the global market. Among these challenges are the lack of finance, poor access to credit, and inefficient distribution of tasks. As a […]
HOW STREAMLINED CASH FLOW EXEMPLIFIES POSITIVE FINANCIAL HEALTH
Cash flow and financial management are extremely important for MSMEs, as it helps ensure that bills and employees are paid on time. This, in turn, helps the business grow. MSMEs fall into one of three categories: manufacturing, service industries, and a combination of the two. Effective management of cash flow is vital to the success […]