NEW DELHI, India, December 14 /PRNewswire/ -- Taking a business from a one-man property to a corporate-type enterprise
in India is no mean task. And for Small and Medium Enterprises (SMEs), this
journey of growth is all the more difficult, given the resource crunch and
technology challenges. Dwelling upon the issue, The Indus Entrepreneurs (TiE)
and IndiaMART.com organized the Envisioning the Wired SME conference, at the
Sheraton, Saket, in New Delhi, recently.
Touching upon the right time to scale, Mr. Harish Gandhi, Executive
Director, Canaan Partners, advised young entrepreneurs to critically analyze
their businesses. "SMEs in India operate under a risky market ecosystem.
Businesses differ in their micro-environments, risk-taking ability, size, and
scale. With new businesses opening up every day the world over, establishing
yourself as a credible player in the market is one of the biggest issues for
SMEs. To sustain in the market, have your processes right and keep
transactions transparent," he said.
Besides the market scenario, management and training is one area that
plays a major role in taking a business to new heights. Addressing the issue,
Mr. H. K. Mittal, Advisor and Head, Department of Science and Technology,
Government of India, elaborated on entrepreneurship development institutes
and incubation centers and the benefits (such as service tax exemptions) that
such institutions provide to SMEs. As regards to why SMEs in India do not
grow, Mr. Mittal said, "Complacency and managerial handicap prevent SMEs from
growing big. The aim of becoming self-sufficient and the fear of losing
control have been ailing the sector for long, which need to be changed."
Representing the rating agency ICRA Online Ltd. on the panel, Mr. Rajesh
Dubey, Executive Director, SME Ratings, talked at length on the connection
between good ratings and scaling up, explaining why some SMEs fail to achieve
make their mark. Scalability as regards to rating is seen in the light of
whether a growing company can sustain its growth.
Promising companies with future vision and good ratings can jump the
ladder and reach at a higher pedestal. Management bandwidth and business
structuring also play an important role in how rating agencies rate a
company, he said.
From producing inverters and UPS to rising to solar software and fuel
cells exports, the success story of Mr. Kunwer Sachdev, Managing Director,
Su-Kam, is an inspiration for many. Growing up from catering inverters to
domestic markets, today the company exports inverters to developing nations
in Africa and Middle East. Sharing his views on scaling up, Mr. Sachdev said,
"Courage and conviction are the key players in making that significant
difference to your business.
"Businesses have their ups and downs. What matters is your creativity,
your passion to succeed, and your hard work."
With six sessions touching every issue of the SME sector, right from
domestic market, to marketing, to technology adoption, to growth, the
conference provided an all-encompassing information exchange platform for
entrepreneurs, CEOs, trade associations, government departments, educational
institutions, and rating agencies from across India.
IndiaMART.com is India's largest online B2B marketplace connecting global
buyers with suppliers through business directories, online product catalogs,
buy-sell offers, industry specific marketplaces, printed media and trade
Founded in 1996, the company has a presence in over 100 cities pan-India.
With approximately 1000 employees, IndiaMART.com offers an extensive range of
value-added products and services to over 500,000 members and over 5 million
global buyers across industries and verticals.
IndiaMART.com has won numerous awards over the years including Red
Herring 100 Asia & Emerging India and the company has been widely covered by
media such as CNBC, BBC, BusinessMoney, CNN, Businessworld, Economic Times,
Financial Express, etc. Its existing investors include Intel Capital and
Bennett, Coleman & Co. Ltd (Times Group), India's largest print media group.
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