Global Alliance for Mass Entrepreneurship (GAME) in partnership with AAWAZ brings you the voices of experts from key organizations, providing guidance to help you wade through the crisis and build a path to recovery. Thinking ahead is your solution and path to progress.
With the lockdown brought about the pandemic outbreak, this critical sector, which is no small cog in India’s economic machinery, faces seemingly insurmountable challenges in terms of meeting their liquidity requirements, supply chain access, displacement of labour, a non-existent market and customers for their products and services.
We discuss key points:
– How should the MSMEs mitigate further losses
– Valuing assets at the MSME’s disposal to begin operating
– Leveraging liquidity schemes and other support available from the government, RBI, SIDBI and others
– How can MSMEs adapt their business in an environment propagating social distancing and redefined operating norms
– What new business and market opportunities have arisen from this crisis
Tune in to advice and tips from these experts in entrepreneurship, finance, government schemes and policies.
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The Importance of Mass Entrepreneurship
Entrepreneurship is defined and perceived in many ways. What is mass entrepreneurship and the importance of MSME's (Micro, Small and Medium Enterprises) in the Indian economy? We chat with Mekin Maheshwari, Co-Founder of Global Alliance for Mass Entrepreneurship (GAME), to understand the role of MSME's, impact of the pandemic from various angles and solutions GAME is building to help MSMEs tide over the pandemic, such as a $100M small business stabilization fund and partnerships with other organizations, all playing a crucial role in alleviating the pain this pivotal sector faces.
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Liquidity Needs of the MSME Sector
The sudden outbreak of the pandemic has undoubtedly deeply impacted the MSME sector. In this episode, Ramesh Dharmaji, Advisor to the Global Alliance of Mass Entrepreneurship (GAME) discusses the challenges faced by the MSME sector on the financial and liquidity front as well as the dearth of raw material, labour, and marketing. He explains support available from SIDBI, RBI, and various banks for MSMEs to address their liquidity needs, for example: MSME Sambandh, Prime Minister’s Employment Generation Program, and Prime Minister Mudra Yojana to name a few. Please also visit SIDBI’s https://www.udyamimitra.in/ portal and https://www.psbloansin59minutes.com/home for more information on options suitable for your organisation.
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Enabling New Market Opportunities
MSMEs are irrefutably facing their toughest challenge in the face of the pandemic. However, there is light at the end of the tunnel. Sandeep Varaganti, MD & CEO of Prione, believes new opportunities have bubbled up. To take advantage, small businesses have to adapt. We discuss key measures for MSMEs to survive the situation and the imperative need for digitalisation as a way to manage your business more smartly and plug into new opportunities. Tune in to understand how businesses can strategize to hit the road to recovery more rapidly.
