#MSME
Table of Contents
The MSME (Micro Small Medium Enterprises) sector has always been a slow and steadily growing sector in India. They kept our country afloat by providing a small but constant flow of revenue in our country. Recently I’ve noticed a sharp rise in the segment. They were always there in the background but suddenly small businesses have become more visible.
- Micro: <1 Cr Investment
- Small: <10 Cr Investment
- Medium: <50 Cr Investment
What changed in the MSME sector?
I’m an online shopping person to the core. I would even order a nail and hammer online. I was like this even before Covid-Era. Post-covid I’ve explored so many small merchants online. I saw them taking leaps and becoming more available & visible to the customers.
What Changed?
Online availability
In the Post-Covid era, I’ve seen a sharp spike in online marketing. People are scared to visit stores so the MSME sector has made their products available for us online. You’ll find so many merchants selling small products and making them available at your fingertips.
It’s mostly aided by the digitalization of our country.
Support from Government
Our government has started providing a support system for small businesses and spreading awareness about digital marketing & payment systems. They provide courses for the smaller sector & even aid to help them start a small business under the Ministry of MSME.
- Vocal for Local
- Skill India
- Make in India
- Start-Up India
And many more if you want to explore the segment.
Support from private segment
Private marketplaces have provided a portal for local businesses to showcase the products and take the business one step ahead. This has brought the customer and MSME sector closer by providing a common interaction ground.
- Flipkart
- Amazon
Just click a Picture and showcase the Product.
With the help and support of the private segment, many businesses have found an opening to approach the customer without investing in websites. A small business could stay afloat and generate revenue till they could afford a well-managed website with all the support team to handle the online customer support and interaction system.
Online payment portals
With the help of many online payment systems, it has become easier to exchange money.
- Paytm
- Gpay
- Amazon pay
- Mobikwik
- Airtel Payment
- Whatsapp Payments
With the easier exchange of money, the customer transaction process has become much easier.
On a much serious note, caution must be executed before linking any of the portals with Bank UPI and making payments online.
Online Marketing
Spreading the good word and customer reviews are the best way to grow a small business. Trust is the platform you build your business on. Use social media as a tool to market your business online.
Do I support the MSME sector?
Yes definitely.
This Christmas I’ve found gifts from local vendors and the personalized touch in the gifts is a boon for me too.
I’m mostly on Facebook Marketplace for shopping, it’s new Myntra and Amazon for me. I’m Lovin it.
This Christmas & New Year go Vocal for Local.
This post is a shout-out from my site for all the MSME businesses in collaboration with Blogchatter’s initiative #ECommerseInovations: Here
Let’s help the MSME sector grow to make our country grow together.
Be Happy Be Healthy
This is indeed an insightful blog!
Nice to see such good quality information packed in this guide for everyone in India as an entrepreneur or blogger or a small business.
Thanks for sharing doctor.