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Last updated: 27 Aug, 2015  

sandipan-ray-thmb.jpg Govt pushing policies but SMEs have to wait: Sandipan Ray

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Saurabh Gupta | 27 Aug, 2015
In an exclusive interview to SME Times, Director  & Co-Founder - SMBConnect, Sandipan Ray said that it's hard to miss the air of optimism, this year alone small and medium enterprise (SME) sector have seen the inception of agency like MUDRA Bank, campaigns like Digital India and Skill India and some other polices for the betterment of SME sector. "So, we can say the government is doing something. But yes, we have to wait and watch how these campaigns help individuals on a long run. And meanwhile, there should be more awareness among the masses, so that they can take proper advantage of these schemes," said Mr Ray.
Excerpts of the interview...

Tell us something about SMBConnect.
Sandipan Ray: SMBConnect is a one stop platform where you find solutions to several criteria pertaining to business management. From big brands to renowned industrialists, one receives mentoring, advice and suggestions from a diverse field of experts. You can connect with service providers and consultants who take care of your needs, even as specific as acquiring intellectual property rights and trademarks. This is a knowledge led platform for anyone who aspires to make his/her business reach global heights someday.

What is the aim behind this initiative?
Sandipan Ray: We at SMBConnect, aim to make it a platform where small and medium businesses can meet business associations, industry experts, service providers, government bodies and fellow entrepreneurs, making it a one stop solution centre for everything that an entrepreneur can possibly be looking for!

How can SMBConnect benefit small and medium enterprises (SMEs) in India?
Sandipan Ray: The SME industry is a very diverse one, with each business facing hardships relating to its own line of work. However, problems that small and medium businesses face commonly are, lack of technological awareness, sketchy idea of logistics, not being able to retain skilled workers, companies that have been around long enough but don't have the necessary knowledge of how to expand their business across the country. Some lack funds for marketing; others may altogether think marketing is an unnecessary expenditure!
This event will throw light on many such issues and inform people about various aspects of business. The family businesses that have just gone to the hands of the younger generation will get their share of exposure from a platform like this, for sharing their thoughts and consulting the experts.

SMBConnect believes in strengthening relationships. Please elaborate.
Sandipan Ray: You see, in business it is not only important to know all the right people. It is equally important, that they know you. And that, when they are in need of a product or service you offer, they first think of you. That is how you remain a step ahead of your competitors. And that is why, we try to keep SMBConnect as social and interactive a platform as possible.

How do you analyze the Indian SME sector in terms of issues and prospects?
Sandipan Ray: Small and Medium Enterprises (SMEs) in India have seen exponential growth over the last decade. According to the latest reports by the SMB Chamber of Commerce and the Ministry of Micro, Small and Medium Enterprises, India currently has more than 48 million SMEs. These SMEs contribute more than 45% of India's industrial output, 40% of the country's total exports and create 1.3 million jobs every year. Yet, they continue to struggle on multiple accounts. While some are challenged by credit and finance issues, others are struggling to cope with stringent regulatory environments.

How can they overcome such challenges?
Sandipan Ray: The SME segment is quiet dynamic in nature and has withstood many adversities in the past to reach where it is today. A vibrant merger and acquisition market in the SME sector along with availability of venture/angle investment providing equity will lead to further development of the SME sector and help overcome some of the challenges on the entrepreneurial side.

Is the government doing its share to boost SMBs?
Sandipan Ray:  While it's hard to miss the air of optimism, the longevity of this feel good sentiment is contingent on the announcements in the Union Budget. SMEs expect focus on key challenges and want definitive schemes and programs to help solve pending matter. This year alone we have seen the inception of MUDRA Bank, campaigns like Digital India and Skill India. So, we can say the government is doing something. But yes, we have to wait and watch how these campaigns help individuals on a long run. And meanwhile, there should be more awareness among the masses, so that they can take proper advantage of these schemes.

 
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