The Indian Dream Business Munchies: MSME Special - Tech & Lending opportunities in the MSME sector, Modern day SMEs
Sahil (@sahil071) and Siddharth (@sidbetala) take a trip down the SME Business Landscape rabbit hole. And they discuss the state of SMEs, the opportunities and what the modern day SME will look like.
We've also launched 'Digitise your business using No-Code Tools' course with the launch of our first cohort. Only 10 spots for the first cohort. You can read more and apply here.
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Ideas Discussed:
1. SME Landscape and Opportunities: We go deep in the SME ecosystem to understand the different types of SMEs that exist. Some numbers: 6.34 Cr MSME's in India. 6.3 of those are Micro Enterprises with turnover less than 5 Cr, 3 Lakh Small Businesses (Turnover: 5 to 75 Cr) and ~10,000 Medium sized businesses. Most of the venture capital funding has gone to focus on the Micro Segment with helping these businesses digitize. However, there are profitable, niche opportunities in serving the Small and Mid-sized businesses. We discuss all these opportunities and what a modern day SME should look like.
2. Compliance Services for US Businesses: Recently, Sahil received a message from someone who runs a small podcast hosting website that has a lot of Indian listeners. He wanted Sahil to become the Chief Grievance Officer for India. This was due to the recent law that was passed. We discuss how there be might be a niche opportunity here to build a profitable business.