Micro, Small and Medium Enterprises (MSMEs) is shedding its industry underdog image with B2B eCommerce. According to data from the Ministry of Micro, Small and Medium Enterprises, MSMEs, with its over 63 million enterprises, contribute around 30 per cent to the nation’s GDP, solidifying its role as the backbone of the economy. The sector is reported to employ over 110 million people. Despite its importance, MSMEs still face challenges including limited market access, difficulty in managing supply chains, and lack of resources for scaling operations.
B2B eCommerce platforms help MSMEs reach broader markets enabling businesses to connect with buyers and suppliers across the globe. The role of such platforms becomes critical given that MSMEs contribute a notable share of more than 43 per cent to India’s total exports. Courtesy such platforms, MSMEs can expand and scale their operations beyond local markets.
This story is from the December 2024 - January 2025 edition of Entrepreneur magazine.
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This story is from the December 2024 - January 2025 edition of Entrepreneur magazine.
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