The Covid-19 pandemic has created unprecedented upheaval at all levels of society. Rarely has a situation called for a unified war cry and the need for collective effort, as the one humanity is faced with now. And even in this, the impact of the pandemic is borne most by those who can least afford it. Micro- entrepreneurs who form 95% of all entrepreneurs in India face mass extinction and need dedicated attention to help them through this calamity.
COVID-19 a giant opportunity for MSMEs who must learn to survive
Amid the uncertainty looming around the situation of this segment, SMBStory spoke to Ravi Venkatesan, Founder and Chairman of the Global Alliance for Mass Entrepreneurship (GAME), over what impact measures such as lockdowns due to COVID-19 are going to have on MSMEs,...
A quarter of MSMEs may shut shop if the lockdown
More than one-fourth of India's 69 million micro, small and medium enterprises (MSMEs) may shut shop if the lockdown extends beyond four to eight weeks, as a majority of them will have a cash crunch, said Ravi Venkatesan, chairman, Global Alliance for Mass Entrepreneurship (GAME).
Nothing in our lifetimes has prepared us for a situation like this
The coronavirus outbreak has put businesses across sectors in the riskiest zone – especially the MSMEs (micro, small and medium enterprises). The backbone of India’s economy is the hardest-hit – where their survival is in question. Disruptions in cash-flows, wage bills, and payments...
Small and Medium Entrepreneurs are going through several challenges today. In this time of crisis, as part of our efforts to support mass entrepreneurs, we are initiating a helpline to help them with immediate help and counselling.