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Ingrid PalmerParticipant
SCF is a solution which would help MSMEs in a lot of ways. It helps them streamline their operations and makes it possible for them to pay their suppliers promptly. This makes the whole system more disciplined and operational.
October 1, 2022 at 10:09 am in reply to: What steps is the Ministry of MSME taking to make it easier for MSMEs to do busi #870Ingrid PalmerParticipant1. Procurement and Marketing Support (PMS) Scheme: The “”Adoption of e-Commerce by Micro Enterprises”” sub-component has been added to this scheme. This new part will help Micro Enterprises sell products or services (up to 10 new products) through e-commerce portals by giving them financial help.
2. Portal of National Small Industries Corporation (NSIC): NSIC, a Public Sector Undertaking (PSU) under the Ministry of MSME, has launched MSME Global Mart Portal (www.msmemart.com), a B2B e-commerce marketing platform for Micro, Small and Medium Enterprises (MSMEs) that provides Global Trade Leads, Tender Information, Franchise Opportunities, Data on Used Machineries, etc.
3. E-commerce portal of Khadi and Village Industries Commission (KVIC): KVIC, a statutory body under the Ministry of Micro, Small and Medium Enterprises, has also launched a portal called ekhadiindia.com for B2C outreach, which allows all businesses to have a global reach with Interactivity, Immediacy, and Ease of Adaptation.September 23, 2022 at 9:25 am in reply to: How do partial credit guarantee programmes help small and medium-sized businesses #878Ingrid PalmerParticipantThe goal of partial credit guarantee is to reduce borrowers from defaulting and make it less likely for them to do so. Lenders might not have incentivies to do proper credit checks and screening, and they might be pushed to give loans to people with higher risks who are willing to pay higher interest rates.
Ingrid PalmerParticipantSMEs play avital role in a nation’s economic development. In developing countries, SMEs play an important role in creating jobs due to the following factors:
Production via labour-intensive techniques: SMBs produces goods and services in a more labor-intensive manner than much larger enterprises, resulting in the creation of more jobs and a more equitable distribution of income.
Providing more opportunities: Due to their simple and value-added work processes, SMEs provide a greater number of opportunities.
Promote entrepreneurship: The SME sector contributes to and supports a variety of entrepreneurial activities.
Development of a strong economic system: Small and medium-sized enterprises contribute to the development of productive capacity and the creation of strong economic systems.
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