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Small and medium enterprises (<keyword id="20086849" type="General" weightage="20" keywordseo="SMEs" source="keywords">SMEs</keyword>) are driving a major surge in <keyword id="21881529" type="General" weightage="100" keywordseo="job-applications" source="keywords">job applications</keyword> 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 &amp; 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 &amp; CEO of apna.co. Parikh emphasised that the demand for skilled workers in these sectors is expected to continue growing, creating vast opportunities for <keyword id="20019820" type="General" weightage="20" keywordseo="job-seekers" source="keywords">job seekers</keyword> across India. <h2>Major growth in Tier-2 and Tier-3 cities</h2>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 <keyword id="19972727" type="General" weightage="20" keywordseo="employment-opportunities" source="keywords">employment opportunities</keyword> 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)

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

<keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="261" meta.entityid="Sebi">Sebi</keyword>'s whole-time member Ashwani Bhatia on Friday asked chartered accountants to be more diligent while <keyword id="20233802" type="General" weightage="20" keywordseo="auditing" source="keywords">auditing</keyword> companies <keyword id="22260830" type="General" weightage="20" keywordseo="listed" source="keywords">listed</keyword> on the SME exchange platforms. Addressing an industry event of <keyword id="20253262" type="General" weightage="20" keywordseo="CAs" source="keywords">CAs</keyword>, Bhatia said it is important to look at the listed <keyword id="20086849" type="General" weightage="20" keywordseo="SMEs" source="keywords">SMEs</keyword> (Small and medium-sized enterprises) in a more careful way because the same companies will grow to be a part of the main board in the future. "We have seen some challenges there (SME platform). We request you to be extra careful as far as SME IPOs and fundraising are concerned because these small companies will become much, much bigger going forward," the banker-turned-capital markets regulator said. Bhatia expressed satisfaction with the progress of the SME platform, stating that Rs 14,000 crore has been raised by such entities, with Rs 6,000 crore being raised in FY24 alone. He compared the CAs to "doctors", and added that they act as first-level regulators by ensuring orderly conduct of companies. Bhatia said many Sebi investigations and orders, which take over a year to complete, may not be necessary at all if the CAs had done their work more diligently. It can be noted that in March this year, Sebi chairperson Madhabi Puri Buch had flagged concerns around "price manipulation" in the SME platform listings and trading, and asked investors to be cautious. Meanwhile, addressing CAs on Friday, Bhatia recalled the conduct of SBI's past chairman R K Talwar and said that the strength of character of the leader helps create "great institutions". He also said that despite the regulator coming out with regulations to enable delisting, the experience has been the "reverse" with little interest on that front. The whole-time member hinted that the low interest in delisting is due to high valuations, and added that even foreign companies are looking at listing in India. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

Sebi asks CAs to be 'extra careful' while auditing listed SMEs

Mumbai, May 4 () Small Industries Development Bank of India (Sidbi) on Monday said it will launch a digital platform that will educate stakeholders in the small and medium enterprises (SME) ecosystem and have information on coronavirus-related initiatives for the sector. The platform, 'India SME Services Platform', designed by Sidbi, will give micro, small and medium enterprises (MSMEs) information about starting operations, getting finance or credit enhancement and other support services. The government can also monitor actions on policies, schemes and programmes for the sector. Even the regulators can tap macroeconomic trends, compliances, risk management and systemic aspects through the platform. "It shall have all MSMEs, stakeholders of the MSME ecosystem, financiers, corporates, government, regulators, employees and associations converging on an interactive platform. This will be all at one place and one place for all kinds of initiative," Sidbi Chairman and Managing Director Mohammad Mustafa said in a release. The platform will have a webpage encompassing a dashboard of all schemes being implemented by the central government, state governments, banks and industry associations. It will give financiers an opportunity to look for marketplace, documentation support and loan management. Even industry associations can avail of window for insights and analytics, partnerships and directory, the release said. HV HRS

Sidbi to launch digital platform for SMEs

<keyword id="7116339" type="UNKNOWN" weightage="20" keywordseo="Flipkart-wholesale">Flipkart Wholesale</keyword>, the digital <keyword id="101750" type="PERSON" weightage="20" keywordseo="B2B-marketplace">B2B marketplace</keyword> of <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> Group for kiranas and MSMEs, on Monday announced 'Big Festival Month' from September 29 to October 31 where over 95 per cent products sourced locally will be made available on the platform. The sale will feature products in fashion categories across more than 50 brands, more than 100 sellers and one lakh members, the newly-launched B2B marketplace said in a statement. Flipkart last year acquired Walmart India and launched Flipkart Wholesale, a new digital marketplace designed to help transform the kirana retail ecosystem in the country. Flipkart Wholesale began operations earlier this month. "The upcoming festive season is a great opportunity for retailers and MSMEs to boost sales and profitability. We see this as an opportunity for the whole retail ecosystem to come together, lift consumer sentiment and drive business growth for local MSMEs across the country," said Adarsh Menon, Senior Vice President and Head - Flipkart Wholesale &amp; Walmart India. Since its launch, Flipkart Wholesale has expanded to 15 cities and is now servicing more than 750 new pin codes across the country. The 'Big Festival Month' will offer products in categories such as men's wear, women's western wear, women's ethnic wear, kids wear and footwear. "A strong backend technology will also enable a hassle-free order placement and fulfilment process for retailers on the platform," the company said. By the year-end, Flipkart Wholesale plans to expand into categories such as home and kitchen and grocery. Flipkart Wholesale earlier said that its customers will have access to easy credit facilities in partnership with leading banks and non-banking financial companies to manage cash flow.

Flipkart Wholesale kicks off its sale events with 'Big Festival Month'

<keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword> on Thursday said it has joined hands with early stage venture capital fund <keyword id="136057" type="COMPANY" weightage="20" keywordseo="Matrix-Partners">Matrix Partners</keyword> to scale <keyword id="390673" type="PERSON" weightage="20" keywordseo="small-businesses">small businesses</keyword> in India by providing them with timely digital skilling support. The move comes barely a week after the social networking giant announced a grant of $4.3 million (Rs 32 crore) for more than 3,000 small businesses in Delhi, Gurgaon, Mumbai, Hyderabad and Bengaluru impacted by Covid-19. The tie-up with Matrix Partners is a part of Facebook's VC Brand Incubator Programme that collaborates with venture capital funds to help early-stage small and medium businesses (SMBs) to maximise their digital potential. In light of the pandemic, Facebook has taken the programme online to ensure continued skilling and support for small businesses even in these times. "Facebook is committed to supporting the growth of small businesses in India, and this charter is stronger than ever as we work towards enabling their recovery from the pandemic," Archana Vohra, Director, Small and Medium Businesses at Facebook India, said in a statement. With the tie-up with Matrix Partners India, the program also completes one year during which it has collaborated with six VC Funds -- Sauce.VC, Fireside Ventures, SAIF Partners, Sequoia Capital, DSG Ventures, and Matrix Partners India. During this period, the programme has skilled, trained and mentored more than 150 brands at various stages of their growth journey. Matrix Partners India is a leading early-stage investor that partners closely with SMBs across sectors including consumer technology, business-to-business, enterprise, and fintech among others. In India, among many other brands, they have also invested in marquee companies such as Ola, Quikr, Practo, Dailyhunt, Mswipe, Country Delight, and Razorpay among others. "We've been early backers in many challenger brands from across the spectrum -- eCommerce, gaming, CPG, neo-banking, healthcare, content – to name a few, and we're thrilled to see them create world-beating products and leverage Facebook's platform to reach their end consumers, and bring about large scale impact," said Sanjot Malhi, Director, Matrix India. "Over 20 companies from our portfolio, including Country Delight, Stanza Living, OZiva, ManMatters, Zupee, The Whole Truth, Dealshare, have now partnered with Facebook on this programme." As part of the VC Brand Incubator Programme, Facebook has also started Campaign Lab that helps direct-to-consumer small businesses get creative solutioning support, and go live with mobile friendly creatives and strategy in under 72 hours. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/this-startup-wants-to-turn-kirana-stores-into-electric-vehicle-charging-stations/articleshow/78289491.cms">This startup wants to turn kirana stores into electric vehicle charging stations</a> <a href="https://www.businessinsider.in/careers/news/yes-bank-is-hiring-again-for-the-coming-year-after-workforce-shrinks-by-1000-since-march/articleshow/78287419.cms">EXCLUSIVE: YES Bank's workforce shrank by 1,000 employees since March but now it's hiring again for the coming year</a>

Facebook partners with sixth VC firm in India – Matrix Partners to scale small businesses

Over 73 per cent of small and medium-sized businesses (<keyword id="417894" type="ORGANIZATION" weightage="20" keywordseo="SMBs">SMBs</keyword>) in India are confident that they will survive and bounce back post Covid-19, said a new report on Wednesday. The "HP Asia SMB Report 2020" showed that Indian SMBs are more confident than their Asian peers in bouncing back after the pandemic as the regional average stood at 60 per cent. This confidence is reflected in the fact that almost two-thirds of respondents from India believe that this period presents a good opportunity to reformulate the business strategy. Half of the respondents believe that the pandemic will ultimately bring opportunity, but in the longer term. More importantly, SMBs in India recognise the importance of going digital to revive their businesses. Three-quarters of the surveyed businesses believe that digital adoption is essential or very important to their success, said the report. "SMBs are critical to our economy as they contribute nearly a third of our GDP and generate employment for millions. The ongoing pandemic has impacted SMBs as much as any other segment," Ketan Patel, Managing Director, HP India Market, said in a statement. "But the agility and flexibility in their operations, coupled with the adaptability to changing business environments and customer needs means they can bounce back far more quickly." Indian SMBs have also recognised four key aspects that will help them best to bounce back – using online tools, flexible work options, advice on strategy and innovation at work. The research showed that growth correlates with how a company values digital adoption for its success. Of SMBs that reported good business growth in the past year, 56 per cent see digital as a lever for success, with only 14 per cent considering it of low importance. "A key finding from the research is that the more a company values digital transformation, the more positive they are about future growth, and nowhere in Asia is this reflected as strongly as in India," Patel said. The survey also touched upon key challenges that Indian SMBs have identified as roadblocks on the road to recovery. While global instability tops the list of concerns, it is less pronounced in India than the rest of the Asian countries surveyed. Other challenges include adequate cash flow, accessing finance and leveraging digital tools. For the study, 1,600 SMBs completed the survey between May 26 and June 7, which comprised 200 interviews in each of the markets: Australia, India, Indonesia, Japan, South Korea, Singapore, Thailand, and Vietnam.

India's small and medium businesses are confident of a post-COVID revival

Leading digital payment service Paytm on Monday launched an Android-based, pocked-sized point of sale (POS) device that is enabled with integrated billing software, camera for QR scanning and supports 4G SIM cards Wi-Fi and Bluetooth connectivity. Available for an introductory monthly rental of Rs 499, the 'Paytm All-in-One Portable Android Smart POS' can accept orders and payments on the go. Aiming to invest Rs 100 crore on the distribution and marketing of these devices in the financial year 2021, Paytm said it will issue over two lakh devices within the next few months that are likely to generate over 20 million transactions per month. What is a POS device? "This affordable pocket-sized Android POS device will enable everyone from SMEs (small and medium enterprises) to delivery personnel of kirana stores to collect payments safely," said Renu Satti, Senior Vice President at Paytm. According to the company, it is more powerful and secure than the portable Linux-based POS devices currently available in the country. The POS device comes bundled with Paytm's 'Scan to Order' service. How does a POS device work? The ergonomic device weighs 163 grams, is 12mm thick and has a 4.5-inch touch screen. It comes with a powerful processor, all-day battery life, and an inbuilt camera to scan QR codes and instantly process payment. The device has several industry-first features like Cloud-based software for billing, payments, and customer management. It works with 4G SIM cards, Wi-Fi and has Bluetooth connectivity to ensure payments never fail and stays round the clock connected with all of Paytm's bouquet of services. The smart POS device is integrated with the ‘Paytm for Business' app to generate GST compliant bills and also to manage all transactions and settlements, said the company. The Paytm for Business App has witnessed over 20 million downloads and is one of the most popular merchant apps on Google Play Store and App Store. "Our ‘Paytm for Business' app, Khata and payout services are providing the much-needed digitisation support to businesses to improve their efficiency," Satti said.

Paytm plans to distribute over 2 lakh of its new portable POS devices over the next few months

<ul><li>Things have been challenging for small and medium scale businesses that are bearing the brunt of the <keyword id="91743" type="PERSON" weightage="20" keywordseo="lockdown">lockdown</keyword> due to low consumer spending and disruptions and delivery and production.</li><li>Canadian e-commerce company <keyword id="1715801" type="PERSON" weightage="20" keywordseo="Shopify">Shopify</keyword> has been working closely with <keyword id="6393272" type="UNKNOWN" weightage="20" keywordseo="MSMEs">MSMEs</keyword> to help them strengthen their online presence and to future-proof their business.</li><li>Sandeep Komaravelly, Director of International Growth, Shopify walks us through all that the platform has been doing and how that has helped support these businesses during these adverse times. </li></ul>The lockdown has hurt most businesses and sectors across the world. Most are now working on ways to weather the storm, to come out of it with minimal damage. However, the Medium, Small and Micro Enterprises (MSMEs) have had to face massive losses. It is no surprise that the MSMEs have been the focus of the government’s relief packages because without external assistance, it will be difficult for most of these businesses to sail through. This is where Shopify, a Canada-based e-commerce company comes in. Since its inception, the company has been working on empowering entrepreneurs by helping them create and develop their businesses by removing the barriers that exist in selling online. While it has been helping power businesses in around 175 countries around the world, in India, it has worked with brands such as Nush by Anushka Sharma, Raymonds, Blue Tokai, WoW Cosmetics, Starstruck and John Jacobs eyewear, to name a few. The role of Shopify is to help these organizations operate and grow their business across their own direct-to-consumer website, online marketplaces, and social networks, while remaining in full control of their business. As a part of their efforts to support these MSMEs during the lockdown when many of these businesses have been adversely impacted, Shopify came up with a range of offers to help small and medium businesses across India adjust to the new normal and to help them increase efficiency while selling online. The aim of these offers was to make it easier for businesses to get back on their feet by helping them offer their customers with a good shopping experience, while also helping reduce monthly costs. According to the platform, merchants using the platform can save over Rs 1 lakh in partner credits through Shopify’s eCommerce solutions from industry-leading service partners. We recently caught up with Sandeep Komaravelly, Director of International Growth, Shopify, who told us all about the platform and its efforts towards supporting MSMEs. Excerpts: Q) MSMEs have had to face the brunt of low consumer spends. What has your priority as an organization been in these last few weeks to make things easier for these businesses? Shopify helps entrepreneurs as they transform an idea into a business. We offer a platform so easy to use that merchants are free to focus on developing their products rather than overcoming technical limitations. Analyzing the impact of the pandemic in India and an in-depth analysis of how consumer behavior has changed, we have created solutions for merchants looking to set up and grow their online business. Through our network we are extending attractive offers from partners across categories. Over Rs 1 Lakh in partner credits can be saved with these offers from leading technology, solution and service partners such as Razorpay, PayTM, Shiprocket, Adyogi and Delhivery to name a few. We also hosted our first-ever virtual Reunite session in May to introduce our latest innovations on Shopify to help merchants from across the world future-proof their businesses. We have introduced a number of new features, such as Shopify Email, Pick-up, Express themes, etc for merchants in India. Q) What kind of impact has there been on <keyword id="44779" type="COMPANY" weightage="20" keywordseo="SMEs">SMEs</keyword> and MSMEs? Have you come across businesses that have had to shut shop due to the Covid impact? Even in usual circumstances, SMEs and MSME’s are more vulnerable to competition or the slightest change in the market. The pandemic and the subsequent lockdown has impacted the growth of their business. They have been facing major challenges like lack of financing, delay in payments, paused production and fall in consumer demand. Having shared this, in spite of the hurdles it has been inspiring to see the strong resilience showcased by the SME community. They have been agile and quick to adapt to the new normal of digitization. We have seen SMEs taking their business online and setting up e-stores to reach out to their customers in the fastest possible manner. There are some who are also selling masks and protective equipment addressing the need of the hour of their customers Q) What were some of the major challenges that these merchants faced during the lockdown days? How have you been able to help? The most immediate challenge for a merchant has been to be agile in moving online to safeguard their businesses and facilitating local delivery. In an immediate response to the challenges faced by merchants we have released a new one-page theme called Express that enables merchants to get online quickly. As of March 20, selling gift cards has been available to all merchants, and Shopify has seen more merchants utilizing this feature than ever before. We also introduced Shopify Email that helps merchants build more meaningful relationships with their customers, and to make email marketing easy and accessible to businesses who are new to digital marketing. Shopify also offers merchants flexibility to enable pickups, they can set up the option for customers to pick up their online orders at your retail store or any location that they choose. Q) You work with a lot of partners. How has this integration and collaborative model helped you strengthen your offering? Shopify’s partner ecosystem acts as a moat to the company. Developers build apps (plugins) for merchants that act as an extended feature set and help in greater product market fit across the world. Developers sell these apps globally through the Shopify app store and have built million dollar businesses out of India. India has always been the biggest export hub for software services. Service partners on Shopify help merchants build a website, design, do digital marketing and every possible service that an ecommerce merchant needs. This ecosystem helps merchants use Shopify in a Do-It-For-Me manner, and focus more time on their business and growth. We are presently working to grow our influencer network in India like we have in the US. Bloggers, Youtubers, educators et al help new entrepreneurs learn the specifics of ecommerce and how Shopify can be a platform that supports their business end to end. Q) What kind of business impact have you faced as an organization during the lockdown? One of the key trends that we have seen during this period is the demand for shopping locally. More than ever, merchants need efficient ways to connect with their local customers today and in the future. Globally, average daily local orders on Shopify for the six weeks ending April 24, grew by 176%, compared to the prior six weeks, coinciding with the introduction of physical distancing measures. As of April 24, 26% of brick-and-mortar merchants in Shopify’s English-speaking geographies were using some form of local pickup and delivery solution, compared to just 2% at the end of February. Shopify is accelerating and shipping products that will help merchants future proof their businesses. Historically, necessity breeds innovation. By making it easy to start and maintain a business, we continue to help merchants bring to life the innovations spurred by this unprecedented world event. We remain committed to removing the barriers that exist for merchants starting new businesses. Q) As we are slowly coming out of the lockdown, what were your learnings as a leader? We realize even more that preparedness is key and this refers to multiple scenarios. It is important that as organizations and business leaders we are quick to adapt to any given situation. It is also important to dedicate time and effort towards keeping employee morale high especially in situations like this. A dedicated and highly motivated workforce will strengthen any organization and ensure a joint effort towards meeting organization goals even during a downfall.

How Shopify is helping MSMEs and SMEs sail through the lockdown by helping them strengthen their online presence

<ul><li><keyword id="2777173" type="PERSON" weightage="20" keywordseo="Razorpay">Razorpay</keyword> has launched a corporate credit card for <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> and <keyword id="44779" type="COMPANY" weightage="20" keywordseo="SMEs">SMEs</keyword>.</li><li>It also announced payment support for freelancers and homepreneurs, who struggle to manage their invoices and payments. </li><li>It also announced the acquisition of a payroll and HR management software company – Opfin. </li><li>Razorpay is expecting its business volume to grow four times by the end of FY21. </li></ul>Indian neo-banking platform Razorpay has launched a corporate credit card for startups and SMEs, along with a bunch of other products today. The credit card will give businesses a no-cost interest for 50 days with a credit line ranging between ₹50,000 to ₹25,00,000. “The move we have made today, helps us expand our horizon in payments and banking and solve new challenges for ambitious businesses who are wanting to disrupt the Indian economy,” said said Harshil Mathur, CEO and Co-founder of Razorpay. The company also claims that it has seen a 500% growth in the last one year. It has over 800,000 clients and hopes to grow this number to 1.4 million by 2020. Some of its marquee clients are Indigo, Bombay Stock Exchange, Thomas Cook, Reliance Industries, SpiceJet, Aditya Birla, Sony and Oyo. It is also expecting its business volume to grow four times by the end of FY21. The startup also announced payment support for freelancers and homepreneurs who struggle to manage their invoices and payments. “We want to make banking trivially simple and accessible for our partner businesses so that while they focus on building new ideas, products and experiences, we take care of their concerns around financial processes,” said Mathur. It also announced the acquisition of a payroll and HR management software company – Opfin. The financial details of the transaction are not disclosed. In June, Razorpay raised $75 million in a series C round of funding from marquee investors like Sequoia India and Ribbit Capital, along with participation from Tiger Global and Y Combinator. In June, the startup also offered digital payment support for 100 currencies enabling Indian businesses to transact and accept payment from global companies. Interestingly, Razorpay was also one of the first startups to announce employee stock options. According to <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/tiger-global-snaps-up-razorpay-esops/articleshow/66686980.cms">reports</a>, 140 employees had used their stock options in the company to cash in money from investment firm Tiger Global in November 2018.

Razorpay launches small biz credit card with no-cost interest for 50 days

<ul><li><keyword id="4936066" type="PERSON" weightage="20" keywordseo="whatsapp-business">WhatsApp business</keyword> was launched in 2018 and since then has over 5 million users on the platform. </li><li>According to data shared by <keyword id="2069427" type="PERSON" weightage="20" keywordseo="WhatsApp-India">WhatsApp India</keyword> to Business Insider, 78% SMBs on <keyword id="790242" type="COMPANY" weightage="20" keywordseo="WhatsApp">WhatsApp</keyword> have also registered sales growth. </li><li>Meanwhile, 80% of SMBs on WhatsApp in India believe the platform allows them to sell products or services in other cities, states or countries. </li></ul>WhatsApp may be embroiled in multiple controversies in India today, but the company’s focus on the country’s <keyword id="469687" type="PERSON" weightage="20" keywordseo="small-and-medium-businesses">small and medium businesses</keyword> remains undeterred – with WhatsApp Business. WhatsApp business was launched in 2018 and since then has over 5 million users on the platform. During a recent chat at the TiE Global Business Summit, WhatsApp India head Abhijit Bose also spoke about the platform’s focus on India’s small businesses. “We have actually tried to invest and support a lot of the ecosystem here in India. We work with NITI Aayog in one of their programmes, we also ran a challenge – WhatsApp startup challenge where we gave the first cheque to some of the small businesses. This country will grow when the small business ecosystem grows,” he had said during a panel discussion at the summit. Conversions and sales, thanks to WhatsApp The Kabadiwala – a startup which literally does what the name says, picks up waste from houses, was faced with the conundrum – how does it reach out to the millions of homes that are dealing with waste. The startup turned to WhatsApp business. "A lot of people use WhatsApp and find it very easy to communicate, so we thought we'd make the booking process easy and allowed our users to send a message to our WhatsApp Business account for the pickup request,” said Anurag Asati, founder, The Kabadiwala. About 60 percent of their pickup requests today come via WhatsApp. He also said that they have seen a 40 percent increase in their sales after using the WhatsApp Business app. According to data shared by WhatsApp India to Business Insider, 70% of SMBs on WhatsApp in India say they built their business on the platform, while 77% of SMBs businesses on WhatsApp in India have been able to hire more employees as they grew after joining the platform. The data is sourced from Morning Consult Intelligence. India has over 400 million WhatsApp users, which makes it really easy for businesses to reach out to a large customer base. Cuir Ally, a luxury leather goods brand which claims to have built India’s first anti-theft technology-enabled smart wallets and tech-powered safety clutches for women, too used WhatsApp business for growth. “WhatsApp has been a big game-changer for us,” said its co-founder T.S Sathyaraj. After adding a WhatsApp widget on their website, their conversions increased by 10% after they made the switch from traditional live chat software. Sathyaraj added that 30 percent of orders come in through a link on their website that connects customers directly to WhatsApp. Creating entrepreneurs and scaling them up The use of WhatsApp business also enabled individuals to turn into entrepreneurs. Today, WhatsApp is enabling SMEs across sectors like retail, food and beverages, crafts, technology, education, delivery services, baby products, agriculture, and apparel. Established businesses and startups alike are using WhatsApp as an effective mode of communication to reach out to their consumers. Moreover, 78% SMBs on WhatsApp also registered sales growth, while 80% of SMBs on WhatsApp in India believe the platform allows them to sell products or services in other cities, states or countries. No Broker is real estate platform connects owners and tenants directly. It has created a channel on WhatsApp where people can list their property. “So for us the questions were - how would we reach out to the owner? How do we reach out to the tenant? The owners being somewhere between 45-50 plus who own the house, how do we communicate with them? So that's where WhatsApp plays a critical role because the one thing before, WhatsApp Business API – which was missing in India was a channel where two way communication can happen other than voice,” said Akhil Gupta, founder of No Broker at the TiE summit panel, about how they use WhatsApp.

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

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Sebi asks CAs to be 'extra careful' while auditing listed SMEs

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Sidbi to launch digital platform for SMEs

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Flipkart Wholesale kicks off its sale events with 'Big Festival Month'

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Facebook partners with sixth VC firm in India – Matrix Partners to scale small businesses

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India's small and medium businesses are confident of a post-COVID revival

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Paytm plans to distribute over 2 lakh of its new portable POS devices over the next few months

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How Shopify is helping MSMEs and SMEs sail through the lockdown by helping them strengthen their online presence

Samarpita Banerjee

Razorpay launches small biz credit card with no-cost interest for 50 days

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WhatsApp is a game changer for India’s small businesses – from smart wallet makers to trash pickers

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