Small businesses generated 35 million job applications till Aug 2024, 14 million were from women: Report

Small and medium enterprises (SMEs) are driving a major surge in job applications across key sectors, with more than 35 million job applications recorded in the first eight months of 2024, according to a report by jobs and professional networking platform apna.co. The growth is fueled by rising demand in sectors like BFSI (Banking, Financial Services, and Insurance), BPO (Business Process Outsourcing), and hospitality.

The report highlights that the surge in job applications is largely for roles such as Sales & Marketing Managers, Accounting Technicians, Telecallers, Back Office Executives, and Business Development Associates. These positions are critical for the expansion of businesses in these sectors, and the growing demand reflects a strong upward trend in hiring.

"SMBs and MSMEs employ more than 110 million people, making them the backbone of our economy. Their success is crucial for our nation's journey towards achieving a USD 5 trillion economy," said Nirmit Parikh, Founder & CEO of apna.co. Parikh emphasised that the demand for skilled workers in these sectors is expected to continue growing, creating vast opportunities for job seekers across India.

Major growth in Tier-2 and Tier-3 cities

An interesting trend noted in the report is that over 55% of the total job applications for SMB roles came from tier-2 and tier-3 cities, including Jaipur, Indore, Ahmedabad, Lucknow, Kochi, and Bhubaneswar. As businesses expand into these cities, the talent pool is evolving to meet the growing demand, fostering a symbiotic relationship between employers and job seekers.

Out of the 35 million job applications received, 14 million came from women, marking a 30% year-on-year increase in female participation. Women are increasingly taking on roles across diverse fields like finance, accounts, marketing, and graphic design, reflecting their rising involvement in the workforce.

As SMEs and MSMEs continue to grow, the employment opportunities they generate are set to further contribute to India’s economic goals, fueling progress toward the USD 5 trillion economy target.

(With inputs from PTI)