What worked for MSMEs in 2021

Raise your hand if you too thought 2021 would be different from the trainwreck that was 2020. We all hoped that the COVID-19 pandemic was almost over — only for a second wave to deepen financial stress on individuals as well as businesses, which were already struggling to survive.

The pandemic is not over yet but the year is almost at an end – making it the perfect time to look into the rearview mirror and evaluate some of the trends that prevailed in the micro, small, and medium enterprises (MSME) sector.

From a rise in digital payments to intent-based lending, the sector has seen quite a shift in the way it operates. SMBStory spoke to industry insiders to better understand these changes.

Take the example of Ankit Ralhan, an electronics supplier based in Haryana’s Hisar. “When COVID-19 struck, I went back to my village with large customer outstandings. There was no hope of opening up again. But thanks to new payment modes like UPI, a lot of my customers paid up, which helped me start afresh.” Read More.

The Interview: Volvo Group India

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Editor’s Pick: Join Ventures

Anyone who has ever had to plan for a celebration knows what a nightmare it is to shop for the perfect florist, tent, and caterer. What if there was a single platform that streamlined planning a celebration?

Founded by Tarun Joshi in 2019, Mumbai-based Join Ventures is a house of D2C (direct-to-consumer) brands for celebrations, which is using technology to solve challenges in the segment. Read More.

Startup Spotlight

When astrology meets tech

Mumbai-based Taaraka is an astro-tech startup that helps people decipher their horoscopes and find the answer to many of life’s great questions. Taaraka calls itself a “self-discovery app” that provides people daily insights about their lives. Read More.

Startup Spotlight

Powering physiotherapy

Phyt.health enables physiotherapists to remotely monitor, stay connected and supervise patient rehabilitation via smartphone-based computer vision technology. The Pune-based startup also plans to distribute digital physiotherapy technology as a white-labelled service to healthcare providers. Read More.

Before you go, stay inspired with…

“Humility is an important attribute that founders should have. The more successful you become, the more humble you should be because the forces that give you value are much bigger.”

— TV Mohandas Pai, Co-founder of Aarin Capital

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