MSMEs should embrace technology enablement offered by B2B platforms
MSMEs will need profound technological overhaul in order to expand customer outreach and sales expectancy, its opportune time for them to consolidate their businesses through technological capabilities of B2B e-commerce platforms.
As pandemic has scourged manual sales and distribution of goods, it will be in the favour of MSMEs to partner with digital platforms as it will scale up their businesses and drive the financial leverage at low credit.
With govt’s Rs 2.3 trillion outlay in engineering a 5G optic fiber network across the country and initiative to invest Rs 27,300 crore in creating the single-window e-logistics market for MSMEs will expedite MSME-B2B e-commerce partnerships in 2021, these platforms will provide a cost-efficient and seamless digital interface between MSMEs and enterprise customers in manufacturing and will consequently bring out better sales opportunities for small scale industries.
According to research MSMEs that enroll in B2B e-commerce will have the scope to earn up to 51 per cent higher revenues over manual business deals.
Cover image by: Teriin
