These 5 Global Giants Want Indian SMEs To Become Bigger
Grow Your Business, Not Your Inbox
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Since decades small and medium enterprises (SMEs) have been backed by governments across the world. Seldom do we see brands or industry stalwarts interested in this segment of business owners. However, an optimistic change has been observed in the last five years with giants like Google and Facebook encouraging SMEs worldwide.
A large number of SMEs are embracing new technologies and gradually finding a place for themselves on the digital map. Whether it’s about digital hiring or increasing consumer reach, small and medium enterprises are tapping varied options in making themselves visible and tech-savvy.
Indian SMEs are figuring themselves in the bigger picture and taking full leverage of a digital boom in the industry.
Top 5 initiatives by global brands that are helping promote SMEs and catching up on technology.
- ‘SME India Council’ launched by Facebook
To boost Indian SMEs, the social media giant Facebook launched ‘SME India Council’ to assist regionally placed small-medium enterprise. The Council comprises of 12 small business entrepreneurs from different geographies, who run their entities with innovative business goals and objectives. Lately, the Council added Indian startup Babajob.com, which is an online market-place for blue-collar jobs, to contribute to Facebook’s initiative. The ripe target of Facebook is to get 10 million SMEs avail digitally driven services, out of the large pool of around 51 million SMEs in country.
- Google and Tolexo Partnership
To spur the growth of B2B online business, the partnership of Google and Tolexo are giving Indian SMEs a platform to ease their operations. Tolexo, is one of the very known B2B platforms in India, which is currently serving 2.5 lakh businesses covering 900 cities. With Google, Tolexo accentuates the great deal of opportunities for small-medium enterprises on digital space. The multinational tech giant, Google is giving a strong base to SMEs. Tolexo is expanding operations across the cities with an aim to achieve 10x growth in SME players in market.
- Alibaba’s Reseller Programme
The e-commerce giant, Alibaba is pushing Indian SMEs upscale growth with its ‘Reseller Programme’. It is one of its kind which is integrating Indian SMEs to Chinese e-commerce giant Aliababa. Recently, in association with PayTm, the P2P online platform, Alibaba has enabled Indian buyers to source their raw materials from China and other countries at cheaper rates. The duo’s integration is also helping Indian SMEs in logistics and payments.
- Ireland’s IDA
The Ireland’s Inward Promotion Agency, IDA (Industrial Development Agency) is making a strong effort to encourage trade between Indian SMEs and Ireland. The motive of the IDA is to establish the presence of Indian SMEs in Europe. The non-commercial semi-state body IDA has assisted Indian companies such as Zomato, Synowledge and Aris Global to enter into Europe and set shop in Ireland.
With its Irish company office in Mumbai, the body introduces companies with the concept of operations in Europe but steers away from direct negotiations.
To empower small medium enterprises in India, Power2SME helps SMEs assists them in buying large quantities of raw materials at lower prices. Though Indian, it has set its foot internationally and is now being counted as one of the big players helping the sector.
It is known as India’s first bulk-buying club to assist SMEs and encourage them on the lane of rapid growth. The whole aim of the company is to empower SMEs work in a more profitable way and be on the rapid lane of growth. Power2SME’s been founded by R. Naryanan as his second venture. In a very shorter span of time, the company is facilitating more than 45,000 SMEs on its unique platform. Power2SME is the big push to the small medium enterprise owners go digital. It’s one of the kind of B2B platform that also simplifies financial loans for SMEs.