Ludhiana: The Global Alliance for Mass Entrepreneurship (GAME) in partnership with the department of industries and commerce (government of Punjab) and Chamber of Industrial & Commercial Undertakings (CICU) launched Xcelerator programme, ‘Sadda Karobaar, Punjab di Shaan’ on Tuesday. This is a six-month business accelerator programme to support promising mass entrepreneurs (SMEs) in improving their productivity, efficiency, and profitability and scale their businesses faster.
In this programme 27 entrepreneurs in the Rs 2 crore-Rs 50 crore annual revenue category have been selected from an application pool of over 450. Under the programme, once the Ludhiana pilot project is completed, it is expected to be rolled out across other districts of Punjab.
Synopsis
The alliance is enabling more entrepreneurs to use M1xchange, a platform created by the Trade Receivable Discounting System exchange.
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The exchange, which has buyers, financiers, enables MSMEs to get finances by converting their trade receivables into liquid funds on a without recourse basis.
BENGALURU: The Global Alliance for Mass Entrepreneurship (GAME) has taken up a three-pronged strategy to improve the financial stability for micro, small and medium enterprises, as these businesses face a working capital challenge due to delayed payments along with the pandemic-induced slowdown.
The alliance, which works with multiple stakeholders and industry bodies to address issues faced by solo, micro, small and medium businesses, is enabling more entrepreneurs to use M1xchange, a platform created by the Trade Receivable Discounting System (TReDS) exchange.
Govt plans to lease MSME technology centres to IITs, engineering colleges: Nitin Gadkari
The MSME Finance Week was a virtual event organised by the Global Alliance for Mass Entrepreneurship (GAME). A key reason for most MSMEs to turn into non-performing assets (NPAs) is delayed reconciliation of their receivables and bills. PTI December 17, 2020 / 04:22 PM IST
The MSME ministry plans to lease technology centres to engineering colleges, IITs, polytechnic colleges and industry associations with a good track record to encourage research and innovation, Union Minister Nitin Gadkari said on Wednesday. Delivering the keynote address at the MSME Finance Week, the minister said micro, small and medium enterprises are the backbone of the economy and there is a need to create employment using surplus resources.
Business accelerators onboarding MSMEs to aid growth
The MSME sector, considered a big job creator, is facing a tough time post the pandemic induced nationwide lockdown
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NEW DELHI: Padmini Govind, owner of a textile block-printing enterprise in Bengaluru, says the pandemic has altered business opportunities and consumer choices, and she would be better off with certain degree of mentoring and handholding to grow her small business that she inherited from her mother. There is too much of volatility, especially for small enterprises. From a pure B2B (business to business) space, I would certainly like to explore the B2C (business to consumer) market now, both in India and aboard, said Govind, who has joined an accelerator program by Global Alliance for Mass Enterprises founded by a group of business leaders like Ravi Venkatesan, the former chairman of Bank of Baroda and a former head of Microsoft India.