Gone are the days when a person has pushed aside for an idea to start the business, the main question in the old times was, who would finance your idea? We have heard many people saying that they had talent and ideas but due to lack of resources and support they took the normal path. Well, the time has changed and so is the policies and the way we look at business ideas. “Winners create their own story holds true when there is a full-fledged support system to back on."
In the 21st century, the face of the business is changing and a larger share of it goes to the E-commerce sector. According to the Nasscom research, year on year growth in the E-commerce workforce is 22 % .
Why E-commerce portals are rising
- Ease of buying a wide range of products
- Easy access to innumerable items across the nation/globe
- Wider reach to all the areas, including tier 3 cities.
- Increased transparency
How E-commerce is a game-changer for MSME
There is a huge potential in MSME (Micro Small Medium Enterprises) and the government has recognized the efforts and has transformed the policies from time to time for economic growth. You can read the ‘How Women are leading the MSME’ post and get to know about the various schemes for women to prosper in business. With the internet reaching every tip of the nation MSME is making a huge mark in the E-commerce sector.
1. Boosted Revenues with Internet
With a wider reach of online connections, the market is reaching unexpected places. From online orders and deliveries to online query resolutions everything is done from the far end and the manual presence of the person is giving MSME an edge to be in the competitive world. Reports have suggested that MSME are using online platforms for all the tasks that were once challenged by humans.
2. Sling Shot
The upward trajectory of MSME is to follow in upcoming years, data is cited by India Brand Equity Foundation. With this speed, India will surpass the world leaders and be in the second position by 2034. Revenue generation is expected to reach 84 billion by 2021 with every rise in internet users.
3. Potential to create 1 million jobs by 2023
While pandemics made the world pause, it was E-Commerce that made things moving and made life normal for most of them. Post-Covid, there is strategically boom in the E-commerce market and now business persons and sellers are not looking back. The sudden increase in the demand for jobs in data analysis, analytical skills, Information, and technology has paved the way for many IT freelancing jobs. And with people with a two-wheeler, the deliveries made a quick run to keep pace with the order placed.
4. The Connect Matters:
Micro small and medium enterprise holds the power to transform the face of Indian industrial sector. The connect with the technology eased out the micro businesses and helped to showcase their skill to the world.
5. Government Push
Since 2014, the government has been introducing initiatives such as Digital India, Make in India, Start-up India, Skill India, Digital India and Innovation Fund to accelerate e-commerce in India. Certain government-owned e-commerce websites, such as e-Marketplace (GeM) are also giving MSMEs a platform to sell their products thus increasing their reach and tap the potential. The digitization helped MSMEs to ease out their bussiness operations like finance and stock assessment and understand their target customer base.
Catalyst of hope and happiness:
India is a land of skill and ideas and these business ideas when take positive leap of growth leaving behind all sorts of barriers is truly a great achievement. The little transformation that starts from a small step has a commendable energy to spread smiles to millions of faces that waited so long for the recognition of their skill they possess. MSMEs using e-commerce is indeed a catalyst of hope and happiness and this boom is definitely reaching miles and miles in future.
Written as part of Blogchatter's campaign #ECommerceInnovation. Read more posts in the campaign here
Reference
https://yourstory.com/smbstory/ecommerce-game-changer-msmes/amp https://www.thehindubusinessline.com/news/education/indian-e-commerce-has-potential-to-create-1-million-jobs-by-2023-alone-report/article32210311.ece
MSME when accompanied by E-commerce, will take India to new heights. It will help in the over all development giving small scale businesses a strong platform to showcase their work.
ReplyDeleteE-commerce has certainly helped the freelancers and small businesses to have hope to grow into larger businesses , which in turn will provide more employment opportunities to our people.
ReplyDeleteInformative, thought provoking article on E commerce, MSME and business success It was a good read and I gained plenty of insights
ReplyDeleteI agree that e commerce is boon for MSME and help immensely in their growth and overall development. specially in this post pandemic era, digital technology and e commerce options are giving a new hope to MSME. with the power of digital media, small business can promote their business at the comfort from their home and can reach out to many people even without physical efforts.
ReplyDeleteECommerce is a boon and of course a game changer for MSMES. With limited resources MSME's usually struggle with marketing, but ecommerce lets them reach their customers in a feasible manner.
ReplyDeleteAgain this post is very well put. Indeed India is a land of skills and ideas. While pandemics forced the world to pause, E-Commerce kept things going and most people's lives routine. E-commerce is rightly associated with economic stability, growth, and security for MSMEs, and it is a channel that allows even the smallest MSMEs to showcase their products in any part of the world without having to spend money on expansion or change locations.
ReplyDeleteFirst of all thank you so much for sharing so much in detail about MSME. I agree Covid changed the way do business and many small business popped up with great promises. But I will also say that there are few organizations with no sense of what business is trooping people and making fool
ReplyDeleteEcommerce definitely played a major role during the pandemic and helped businesses thrive. Infact moving the digital way enabled MSMEs to attain increased productivity. The government also brought in a lot of initiatives to improve the businesses
ReplyDeleteE commerce has made so many changes and they provide great opportunities to MSME's too. With internet penetrating deeper, this opportunity is only going to increase.
ReplyDeleteTotally agree buddy e-commerce can go a long was in providing a strong support to MSMES and make them flourissh more and more
ReplyDeleteIt's amazing how it's now so easy to book, choose, select at our fingertips. Let's all help new good businesses flourish.
ReplyDeleteE commerce platforms are the wings that take MSME to take a flight and sore new heights. The world's is now at a click and be it in tier 1 or tier 3, everyone can buy anything just by a click.
ReplyDeleteWhile reading your article I was walking through the last 10 years of my experience in an MSME. The change is humongous
ReplyDeleteIt is a welcome change that the MSME firms are receiving more.recognition these days.
ReplyDelete