MSMEs are a major part of the Indian Economy and with over 7.9 million of those present, they are constantly contributing to the growth of this ecosystem. In the year 2021, the contribution of MSMEs in India’s GDP increased by 40% as of 2020. In the past few years, this sector has gained much importance, both by the government and the private sector, making it agile yet concrete as it moves through the ecosystem.
As they flourish, the pain points they go through everyday are being addressed by extensive platforms that work towards providing them a stable and powerful business growth partner.
Below mentioned are 5 such platforms that are helping MSMEs with their business growth and in getting a stronger hold and position in the market.
- ShakeDeal – The brand is a supply chain and B2B commerce platform that is procurement-focused. ShakeDeal simplifies the supply chain process through indirect procurement and offers MROs and other products. MSMEs can use the platform to both sell and buy and are given a platform to grow. Furthermore, a supply chain financing tool is also offered for MSMEs to strengthen their finances.
- Crediwatch – An AI/ML-powered startup that operates in the space of business analytics, credit risk intelligence, and insights on businesses, is driven by its mission to solve financial inclusion of MSMEs, remove barriers to trade and credit and build trust and transparency in business and has done the same for supporting the growth of this sector.
- Easebuzz: This company is a digital platform that provides financial management solutions to businesses of all sizes in India and has a mission to build a digital ecosystem for B2B companies and start-ups, Easebuzz helps them manage the receivables and payables on low-cost, high-value model payment-related solutions and SaaS-based financial management assistance, fueling their business growth.
- Getafix Technologies – This Bangalore-based brand is helping MSMEs keep up with the digital adoption by providing them technology related services. As the MSMEs in India are not always with the tech trends and requirements, this platform makes it possible and in-turn helps in business growth.
- Aye Finance – This company solves the challenges of funding MSMEs and helps them by enabling their inclusion into the mainstream of the economy. They have created a technically enabled process that builds credit insights and also funds its non-profit initiative to coach MSMEs on market knowledge, business book-keeping and advising on operations techniques.