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International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456Scientific Research and Development (IJTSRD) ISSN: 2456Scientific Research and Development (IJTSRD) ISSN: 2456-6470 | IF: 4.101

Support from Government: had known urban India alone wouldn’t fuel n urban India alone wouldn’t fuel
In the most recent UPS Asia BusinessBusiness Monitor growth for the country, every stakeholder chasing rowth for the country, every stakeholder chasing
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report, 81 per cent SME respondentsrespondents feel that the same piece of the pie would lead to he same piece of the pie would lead to
t
government needs to play a largerlarger role in r redundancies. Different stakeholders taking on edundancies. Different stakeholders taking on
sustainability practices. v
very specific problems to solve would, in theory, ery specific problems to solve would, in theory,
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contribute to a stronger ecosystem ontribute to a stronger ecosystem for Indian
Let us look at the model deployed byby Japan, way SMEs.
back in 1953. Japan Finance CorporationCorporation for
Small Business (JFS) was createdcreated to enable a A Stronger Ecosystem for SMEs Increasing Digital SMEs Increasing Digital
basic law which would represent a shiftshift in policies India Footprint:
to enable development and growth of diverse and Digitized B2B (Business to BusinessBusiness to Business) transactions and
independent SME businesses. JFS soonsoon became an relationships encompasses more than just Increasingrelationships encompasses more than just Increasing
integral part of policy drafting and implementationimplementation payments access to the Internet even in smaller towns access to the Internet even in smaller towns
process, and established a deep understandingunderstanding of and the rate of Smartphone of Smartphone -led connectivity
the SME market. It built a pool of businessesbusinesses and spreading across the country meant India was prime spreading across the country meant India was prime
understood its pulse. Today, it hashas more than ground for a campaign like Digital India.ground for a campaign like Digital India.
100,000 businesses and it leveragesleverages this
information to groom newer businesses.businesses. But end-users getting savvier and going online to be users getting savvier and going online to be
connected to services or making purchases isn’t the onnected to services or making purchases isn’t the
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The essence behind formation of JFSJFS was not just only way Digital India’s reach is growing.reach is growing.
funds, but critical advisory, that wouldwould keep the
businesses alive in long term. ThereThere is a strong With various B2B start-ups viewing the long under ups viewing the long under
need for such a platform to be providedprovided in India. tapped SME segment as a huge opportunity, Digital apped SME segment as a huge opportunity, Digital
t
I
Need for Communication: India outcomes may beat expectations sooner rather ndia outcomes may beat expectations sooner rather
India is awakening to the need of communicationcommunication than later.
and its importance to businesses. TillTill recent past,
PR(Public Relations) was consideredconsidered a luxury and There are reportedly more than 40 million SMEs in There are reportedly more than 40 million SMEs in
spelt in the same breath as advertising.advertising. However, India. Start-up names such as Tolexo, Power2SME, such as Tolexo, Power2SME,
the communication modes andand climate is Rubique and Now Floats aiming to move all kinds of Rubique and Now Floats aiming to move all kinds of
changing. As a result, businesses areare making use B2B relationships and transactions towards full cycle B2B relationships and transactions towards full cycle
of various channels of communicationcommunication to reach out digitisation, indicates more businesses are now online.digitisation, indicates more businesses are now online.
to their audiences such as clients, massesmasses at large,
industry bodies, etc. On the globalizedglobalized platform, Digital Transformation: How SMEs Can Leverage Digital Transformation: How SMEs Can Leverage
global tools like PR need to be usedused to gather the This Wave Of Technology?
outreach and use it towards expandingexpanding not only SMEs will thrive if key enablers powered by SMAC SMEs will thrive if key enablers powered by SMAC
clients but further expansion, formingforming associations (Social, Mobile, Analytics, and Cloud) in India.(Social, Mobile, Analytics, and Cloud) in India.
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and tie-ups. Technologies are created in integrated ecosystems to echnologies are created in integrated ecosystems to
Valuation and Consolidation: support their following needs:
Indian economy has progressed towardstowards building Accessibility of expert knowledge and best Accessibility of expert knowledge and best
knowledge enterprises to remain competitivecompetitive in practices
the global arena. Innovation andand application Financial independence and risk mitigationdence and risk mitigation
knowledge are going to be the keykey to growth. Targeted marketing reach and salesTargeted marketing reach and sales
However, in the SME segment, it remainsremains vastly Operational excellence across locationsOperational excellence across locations
fragmented across mushrooming businesses.businesses. Joint Efficient provisioning of servicesEfficient provisioning of services
ventures and some kind of consolidationconsolidation will help Real time insights and decisionReal time insights and decision-making
pull strengths of companies andand businesses
together, and fasten the growth and maturitymaturity path. SMAC Technologies: The new wavenew wave Of Growth for
Specificity of Focus: SME’s:
The more SMEs are connected to suppliers, The more SMEs are connected to suppliers, SMAC technologies are advanSMAC technologies are advanced, affordable and
buyers and financial institutions, the smoother buyers and financial institutions, the smoother pervasive. They are now available to businesses of all pervasive. They are now available to businesses of all
transactions and fulfilments will be for will be for sizes. This is opening up an opportunity for SMEs to sizes. This is opening up an opportunity for SMEs to
enterprises. However, while industry and experts enterprises. However, while industry and experts level the playing field and compete with larger level the playing field and compete with larger

@ IJTSRD | Available Online @ www.ijtsrd.comwww.ijtsrd.com | Conference Issue: ICDEBI-2018 | | Oct 2018 Page: 151