Role of SMEs in Indian Economy Let's just reveal it... SME Chamber of India says, • Small and Medium Enterprises contribute to Indian financial growth by nearly 45% in industrial output, 40% in exports and 42 million in employment. • They create closely 1 million jobs each year. • They produce nearly 8000 products!
SMEs and Indian Projects India has a massive manpower! • To some dream project like "Make in India" and other initiations, SMEs are an economical backbone! • India is seeing a rapid progress globally in different industries like manufacturing, retails, food processing, engineering, textiles etc.
Government supporting SMEs There has been a consistent release of government help for these trades to leverage the market! • International relationship with several organizations is promoted. • Foreign investors are knotting their ties with Indian SMEs. • Nationalized banks and private financial sectors also seem to have a favorable loan structure for such trades.
How an eCommerce helps SMEs Well, all trades have to respect an online presence now! • Online platforms like an eCommerce stores are the great values to them in terms of broad market reach and hefty sale!!! • Indian entrepreneurs seem to be getting largely benefited from it. Let's study some great advantages of eCommerce to SMEs...
Cost Effectiveness An eCommerce website or an online store is pretty much competitive in price. SMEs can actually save money often reducing expenses of, • Physical store, • In-house staffs, • Warehouses or stock areas and so on!
Wider Brand Awareness Online branding is a powerful digital promotion than any brick-and mortar shop... • One has an opportunity to sell off all local barriers. • It’s less expensive than physical means of advertising. • The widest of customer reach is its real beauty!
Better Understanding of Customers How much time does one spend to interact with customers in road-side stalls and what are the chances of them being followed? Probabilities are less... Unlike it, internet market is very OPEN. SMEs can build long-term business relations with their customers!
Big opportunities for sale Of course, an online platform is one of the most presentable shelves to display merchandises. • Product categories are shown in an organized way. • Activities like product management, inventory, import and configurations are done automatically & efficiently. It’s hassle-free and less time-consuming too!!!
Concluding, If considered the most valuable points of eCommerce, it's a store that is indeed, • A less expensive • Highly leveraging • Easily manageable AND • Greatly effective platform eCommerce gives one the huge opportunities to sell more! What's your say?
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