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.
The Importance of Mass Entrepreneurship - Ajay Menon [ 29:09 ]
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.
Liquidity Needs of the MSME Sector - Ajay Menon [ 22:48 ]
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.
Enabling New Market Opportunities - Ajay Menon [ 25:22 ]
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.
Women in Entrepreneurship - Ajay Menon [ 23:41 ]
Women in Entrepreneurship
Sairee Chahal, Founder & CEO of SHEROES is optimistic of the future of women in entrepreneurship, even more so in the face of the pandemic. She believes “women networks in India are beautiful”, and at this time while competition and hyper-ness of any business are low, women entrepreneurs must strengthen their resolve and perspective. SHEROES is a women-focused community platform, that offers support, resources, and opportunities. While over 1 million women have already directly benefited, SHEROES aims to put over 100 million women on the growth map in the next 5 years. To know more about SHEROES, visit their website. https://sheroes.com/
Government Relief Measures for Impacted MSMEs (Part I) - Ajay Menon [ 18:12 ]
Government Relief Measures for Impacted MSMEs (Part I)
Ms Manisha Panwar, IAS Officer and currently Additional Secretary with the Government of Uttarakhand, responsible for MSME, Heavy Industrial and Rural Development, shares her views on government measures and their impact on the MSME sector, the focus of implementation of the various support packages and steps taken by the Government of Uttarakhand to uncover new opportunities for local companies.
Government Relief Measures for Impacted MSMEs (Part II) - Ajay Menon [ 22:47 ]
Government Relief Measures for Impacted MSMEs (Part II)
The government recently announced a substantial fiscal stimulus to get India’s economy back on track. The MSME sector plays a critical role in this process. To help us understand whether the measures are satisfactory, and the expected impact, we have with us Madan Padaki, Co-Founder of the Global Alliance for Mass Entrepreneurship (GAME). He firmly believes that for the support to be a success, speed and agility of implementation is the need of the hour. Tune in to Madan Padaki's invaluable insights.
Opportunities in Agri-Entrepreneurship - Ajay Menon [ 21:55 ]
Opportunities in Agri-Entrepreneurship
Relief for the agricultural sector is imperative. It provides the food and nutrition requirements of 1.3 billion Indians and creates employment that supports 60% of India’s population. Current government measures are structural reforms important for the long-term growth and prosperity of the agri-sector. Agri-entrepreneurs and startups can also contribute a huge way in a time of crisis. Tune in to this enlightening conversation with Vipul Mittal, National Category Head, Fruit & Vegetables, BigBasket.com.
The Importance of Insurance - Ajay Menon [ 15:20 ]
The Importance of Insurance
There are a variety of risks in running your business. Some known, many others unknown. Insurance is a key buffer in mitigating the realisation of such risks and reducing the impact on you, your employees and operations. Tune in to Kaushal Mishra, former MD & CEO at Tata AIG General Insurance Company, for his guidance on various policies applicable to your business, understanding which one is best for you and how to claim benefits if currently insured.
Digital Lending Platform for Impacted MSMEs - Ajay Menon [ 16:51 ]
Digital Lending Platform for Impacted MSMEs
As the second-largest employment generator in the country, the MSME sector is considered the backbone of the Indian economy. In fact, 40% of the Indian government’s dream for a $5 trillion economy by 2024 is expected to come from the MSME sector. Adversely affected by the Covid-19 pandemic as most economic activities have come to a complete standstill, liquidity needs remain a critical priority.
U GRO Capital (https://www.ugrocapital.com/) is a listed fintech platform helping small businesses get an in-principle decision for their loan application within 60 minutes. They have already disbursed close to Rs 1,400 Cr worth of loans, across over 7,000 small businesses, in their first full year of operations.
We chat with Abhijit Ghosh, Executive Director and CEO at U GRO Capital on the 8 sectors they support, reaching financial assistance to MSMEs within these sectors and the need for rapid digital adoption by small businesses.