Home / International MSME Day 2023
EMPOWERING NEXGEN MSMES : GLOBALLY COMPETITIVE, SUSTAINABLE AND PROFITABLE
In the pursuit of empowering entrepreneurs, we must eliminate the boundaries that separate formal and informal enterprises. It is crucial to establish equitable policies that cater to businesses based on their capacity, providing a level playing field for all.
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Women entrepreneurs face numerous restrictions, with social norms like the lack of property rights acting as formidable barriers to their entrepreneurial aspirations. To empower women and unlock their entrepreneurial potential, it is imperative that we address these grassroots challenges head-on. By focusing our efforts on eradicating these obstacles, we can shatter the existing glass ceiling that limits women's participation to a mere 20% in the entrepreneurial landscape.
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There is a need to create a strong arc of influence for MSMEs, which will pave the way for seizing opportunities on a global scale. Beyond financial considerations, we must prioritize innovation and capacity building, recognizing them as essential pillars for success.
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When it comes to MSMEs, it is vital to include cross-cultural and cross-functional managers who actively engage with experts, researchers, and academicians. By cultivating an environment of active listening, collaboration, and knowledge-sharing, MSMEs can harness diverse perspectives and expertise, propelling their growth and success
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Leveraging the robust public infrastructure provided by the telecom industry, coupled with the widespread reach of digital payments and the streamlined verification process facilitated by AADHAAR, uncertainties that once plagued entrepreneurs when entering new international markets have been eliminated.
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As the credit gap looms large and the credit needs of Indian MSMEs continue to grow, we stand witness to a remarkable transformation. Over the past decade, fueled by the combined efforts of the government and industry stakeholders, the fintech network has extended its reach to the remotest corners of our nation. Today, rural entrepreneurs have emerged as a powerful force, driving economic growth and reshaping the business landscape.
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It is important to forge partnerships with the right distributors and retailers who possess deep understanding of local market dynamics, consumer demands, and market trends. Furthermore, being well-versed in licensing and regulatory practices within an international market network is also crucial.
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The WUSME Association continues to carry out its commitment to raise the awareness among MSMEs so that MSMEs are guided towards inclusive and sustainable economic growth. It is important to focus on how technology and innovation can help achieve gender equality to accelerate the value given to women in the business world.
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Innovation is not only receiving paramount importance on a global scale, but it also holds the key to addressing pressing challenges. By fostering skill development and promoting collaborations between large companies, researchers, stakeholders, and MSMEs, we can pave the way for prompt and effective solutions
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It is not merely about keeping pace with technology but about cultivating an enterprise that is agile, responsive, and self-aware. Through the power of digital networks, businesses gain access to invaluable statistical data, enabling them to identify areas of improvement and make informed decisions
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Guatemala, is dedicated to providing a thriving entrepreneurial industry, fostering business partnerships, and unlocking new opportunities with counterpart economies. With a strong focus on collaboration, Guatemala actively seeks partnerships in sectors such as Pharma, IT, and Tech, harnessing the potential for innovation and growth. Despite the profound impact of the pandemic and its lasting effects, Guatemala has showcased remarkable resilience and has emerged as one of the burgeoning economies in Central America
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By embracing a process-driven approach that fosters high productivity, sustainability, and innovation, we can unlock the true potential of our businesses. Continuous industry research becomes the key to unlocking new horizons and staying ahead of the curve.
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By embracing digitalization, enterprises can shift their focus towards enhancing their products and services, while the digital system seamlessly handles crucial aspects such as inventory management, CRM networks, financial credibility, e-billing, taxation, and other repetitive operational activities
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ESG accountability is not just a mode of becoming sustainable; it is a pathway for MSMEs to surpass regulatory benchmarks and present a comprehensive image to their investors. Transparency, credibility, and ethical leadership practices are sought-after qualities by investors who prioritize sustainable businesses.
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Mr. Prahlad Kakar, Chairman, India SME Forum June 27, 2023
With a supportive and nurturing environment, fueled by growth and creativity, MSMEs can unlock the untapped potential & transform towards becoming a renowned brand. Our commitment is to create a supportive ecosystem that nurtures innovation, fuels creativity, and fosters resilience, enabling MSMEs to surpass their boundaries and achieve remarkable success
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