What is B2B matchmaking

B2B Matchmaking is an innovative concept that is benefiting a diverse range of businesses, whether at a trade fair, a B2B buy sell leads floating on nets, B2B directory support or a clients gathering. It's a free online business management resource which provides local small businesses with access to information about other clients which can be either a tentative buyer or a supplier and help in bridging new contacts and businesses. It also addresses some of the major problems facing small business owners, including visibility, promotions, market branding and help in procuring other issues related to managing/ accentuating a business. Henceforth, we can also say B2B match making as one those benign efforts which came into existence after the invasion of IT industry in the businesses where there was a need to be global, look for broader options. Its a great support to businesses which are anxious about new acquisition methods, however keeping a strong grip on cost is an imperative.

Methods for B2B Matchmaking :


Online Presence on B2B Marketplaces:

The e-commerce is growing and web services have a potential to enhance B2B match making over the Internet by allowing companies and organizations to publish their business processes on service directories where potential trading partners can find them like a bulk buyer supplier marketplace. This give rise to new business paradigms based on ad-hoc trading relations as companies, particularly small and medium enterprises (SMEs), can cheaply and flexibly enter into fruitful contracts. For example through subcontracting from big companies by simply publishing their business processes (supplier directories) and the services (product catalogs) they offer on these B2B trade portal. Through providing them Buy sell Trade leads which are posted in the column specifically meant for such purpose.

Trade Shows:

New Market Advisory participates in various international projects and organizes various business promotion events to promote their clients. They provide numerous services for free which are highly beneficial for their clientèle as free promotion, add-on services, providing them credibility and constantly searching new businesses and area zones for them on their behalf while participating at national as well as international trade fairs. Since such fairs are expensive for SMEs to participate, thus these online B2B matchmaking companies serve the need of promotions on the behalf of their clients.

Promotions:

With everything getting online in this digital era, the B2B marketing is also completely online, to ease the intricate methods of expanding business with easy search and 24*7 market presence. Furthermore, most of the leading B2B marketplaces provide add-on services for their clients to help them gain credibility in the international e-commerce marketplaces by making them associated with their name. Additional to it they float online buyer supplier yellow pages while enlisting the name of all their potential clients, these free buyer supplier directories impress the target audience in the most pertinent way, thus providing promotion in the most apt manner.
Companies like IndiaMART are constantly striving for newer online methods to overcome all the hurdles which two related businesses encounter while looking for each other on the virtual net. Their various offers also help the SMEs to look for better option and go global with out any issues of credibility.
For more information :http://www.indiamart.com/

Prime Minister Expresses Concern And Plan Measures For SMEs Growth

Addressing to the plight of Micro, Small and Medium Enterprises (MSME) and assuring all help to them, Our respectable Prime Minister Manmohan Singh announces a plans in order to to emancipate the SME entrepreneurs at the occasion of MSME award function. To mark a foothold in the development and committing himself to the issue of Micro, Small, and Medium Enterprises (MSMEs), Dr. Singh said the centre has decided to double the credit flow which will provide employment to around six crore people and will contribute to over 40% of government export earnings.

Portraying a bullish picture of the SME growth Dr. Singh envisaged the SME sector to grow exponentially and said he consider the MSMEs as the cog in the wheel for Indian economy and call SME growth to be a blatant fact that is inevitable. In order to support his claim, he said that the credit is the lifeline of any business and by doubling the flow of credit to MSMEs we hope to make the SMEs accentuate to newer and higher heights. On the other hand, to overcome the accusations of redtapism Dr. Singh urged the banks to ensure better conduit of funds to these enterprises.

While addressing the MSME awards function, Dr. Singh admit that the past year has not been so good for the economy and has had an adverse effect on the growth rate and GDP. Considering this in mind the prime minister has urged the SMEs to explore new fields of doing business by using online B2B marketplaces, B2B matchmaking platform for promotions like InidaMART.com and Alibaba.com, additional to it he asked them to take care of their finance by looking for venture capitalists and market equity. Furthermore, working on the happless and debilitated condition of the MSMEs, Dr. Singh announced to constitute an eleven member high level task force to look up for all issues raised by the MSME society. The task force will work on planning strategies to get one-stop access for capacity building, credit, quality technologies and skill development.

To exemplify the efforts, taken by the government, Dr Singh lauded the efforts which were taken to redeem the khadi sector by the implementation of comprehensive reforms program with assistance from the Asian Development Bank and he expect the same from the newly assigned task force. With all such developments undergoing the MSME sector is presently optimistic about the coming 5 yr plan and hope to cater big profits and leverage scheme after contemplating the concern for them presented by our respectable Prime minister.

Government Keeping SME Sector High on Priority

ME segment is cheered up and not without any reason, the sector is now in the growth radar. The government is in its final stages to hike the sub-limit within priority sector lending for the micro sector, from 4.9 per cent to 6 per cent.
Beside this there are various other steps which the government is planning to take in order to thrust the upswing of the SME sector.

1)The government is planning to launch a toll-free helpline as a part of its resolve to assist SMEs in day-to-day operations, finance, marketing, legal, banking and taxation domains. Mr. Dinesh Rai, Secretary,Ministry of Micro, Small and Medium Enterprises (MSMEs), Government of India, underlined a plan to run a National Skill and Development Centre (NSDC) to create a robust entrepreneurial ecosystem in India.
2) All banks including the private ones are urged to help the MSMEs in leverage plans and assist them at every corner.
3)The relaxation in lending limits will help an additional funding of Rs 17,000 crore for the MSME sector, according to estimates by the Federation of Indian Small and Medium Enterprises (FISME). On the other hand, the credit monitoring cell would step in to resolve pending cases which have not been resolved by the bank within 14 days.
4)Government has appreciated the MSMEs step of registering themselves on B2B online marketplaces and is augmenting the decision of doing business and promotions through the use of Information, communication and technology (ICT) tools which are available online.
5)The Securities and Exchange Board of India (SEBI) is considering issuing rules to set up stock exchanges dedicated to small and medium enterprises (SMEs).
6)Special aid plans have been developed for the SMEs related to agriculture sector directly.
7)Government is also planning to launch a special disaster management scheme devoted solely for the SMEs.
8)Planning for single-window clearance mechanisms, rationalize tax regimes and adoption of a proactive strategy aimed at education and evangelism for SMEs.

With all these plans in the making, it seems the government is really adhere to its plan of being a foothold in the development of SMEs in India. If all this steps are implemented without much extrinsic interferences and are applied earnestly, the growth of SMEs is inexorable.

MSMEs Opting for E- commerce as a medium for business promotion

Networking with people and sharing knowledge to build a personal brand are essential requisites for efficient progression in contemporary business society. Online B2B matchmaking is one of the cognizant steps in this direction. And, its patrons believe the small and micro enterprises (SMEs) could be insulated with its help, while the world reels under recession. B2B matchmaking is an innovative concept that benefits everyone, whether at a trade fair, a networking event, a members meeting or a clients gathering. These Matches are arranged systematically and efficiently between supply and demand after a series of steps as registering, filtering and mailing each other the tentative quotes and in the end settling at a of final price and date of delivery. All this happen at the cheapest way, with the use of internet, and the parties completes their promises, exchange experiences and forge cooperative partnerships.

Through the innovative usage of such technologies, the SMEs are growing exponentially and are going global. Moreover, with the help of technological advancements, emerging business are trying to make themselves more efficient, and also persevering to carve a niche for themselves. “In tougher times you need to differentiate in the technologies that you use” says Mr. Dinesh Agarwal, Founder and CEO, IndiaMART.com. But with the wide usage of internet some crucial deals needs interaction or face to face conversation. For this, SMEs have started using services as “Just Dial” for online telephonic conversation and “Video on demand” for video conferencing to cut costs. The shares of SMEs in the total IT spends have been growing rapidly over the past few years and a recent IAMAI study says SME IT spends set to continue at a robust 24%. SME businesses are looking at internet to gain access to newer B2B markets and discovering new solution providers that offers cost effective solutions. This optimizes the capacity utilization of SME – an imperative during the slowdown. Also they knew that the communication costs could be reduced by a noticeable amount with technologies like internet calls and skype.

Recent IAMAI figures estimates the size of the domestic e-commerce to touch 2.3 billion- a 95 percent rise over the last year figures. However still, after collecting such accolades, many SME owners are apprehensive about joining the B2B matchmaking platform and are still comfortable in archaic methods of cold calls and bulk mails for communication and matchmaking. They feel the government laws are not pertinent enough, albeit companies like IndiaMART are working to console the 13 million Indian SMEs and trying to galvanize the SME and MSME sector to become online-savvy and more focused on online marketing as their growth path. The steps that companies like IndiaMART is taking to bring convergence between the online concept of business and the Indian SME sector will only lean forward to better results and with the extra mileage that this provides will generate more business from global exports.

The Online Marketing For MSME Sector

The Micro, Small and Medium Enterprises (MSMEs) are aptly regarded as backbone of the Indian economy. Micro, Small and Medium enterprises (MSME) is a generic term used to describe small scale industrial (SSI) units and medium-scale industrial units. Any industrial unit with a total investment in its fixed assets or leased assets or hire-purchase asset upto Rs10 million is considered as a SSI unit and investment upto Rs. 100 million is considered as a medium unit. In addition, an SSI unit should neither be a subsidiary of any other industrial unit nor can it be owned or controlled by any other industrial unit. According to the union ministry, MSMEs, with addition of union medium enterprises in their fold are now a sector that contributes up to 40% to the gross industrial manufacturing value added to the economy, 35% to India's exports directly and around 8% to India's GDP.

In spite of their immense contribution the sector is largely informal and unorganized: 90% of the units are not registered. The sector is highly heterogeneous. It produces more than 8000 products ranging from handmade stuff to high tech components and machines. Still, 95% of the SME owners don't have access to any kind of formal institutional credit. Only 20% of the upper MSME is a part of large global supply chains.

The importance of SME sector is undisputed and companies like IndiaMART are acting as torch bearers to present the plight of SME to the government, educating the masses about the significance of SME developments for the country and enlightening MSMEs with the new ICT tools which could be propitious for their business. IndiaMART.com has always been an activist and evangelist in pushing for a better deal for SMEs. These developments only vindicate the efforts made by the company and augment the plans made for the SME growth.

It is also undisputed that policy makers have consistently tried to assist the sector. And now with new B2B matchmaking firms like IndiaMART.com and Alibaba.com. online marketing and matchmaking firms are working with adherence to mark the MSME sector as one of the biggest support for India's GDP and growth. However, due to the unorganized nature of this MSME segment, there has always remained a gap between needs, demands and policy response. No wonder, in context of MSMEs rhetoric prevailed over reason and disappointments over expectations. But, with these newer methods and business matchmaking techniques used by the online market places, there is high hope and space for developments which need to be fulfilled by MSMEs by showing credence toward these marketplaces and their methods.

B2B matchmaking – inevitable for expansion

Trading was incepted centuries ago and, since then gaining contacts plays an inevitable role in getting new leads, enhancing the suppliers and expanding the businesses. B2B matchmaking is an ethnic concept that has benefited every business in acquisitions either through trade fairs, networking events, meetings or through print media or internet. Its just that with technological advancements and industrial development the mode of matchmaking has changed. In the mid of 20th century the meetings/networking add among themselves a new strategy of making hundreds of cold calls and bulk mails to all prospective who are miles apart and then to wait eagerly for them to revert. However, lately bigger firms are relying more on branding strategies to promote their name and accolades alongside publicizing their vast array of esteemed clientele. But for Small and medium industries(SMEs) who are not yet able to gain an international name, matchmaking through the numerous ways is an inevitable part of their development plan.

This can give rise to new business paradigms based on ad-hoc trading relations as companies, particularly SMEs, can cheaply and flexibly enter into fruitful contracts. With the advent of Print Media, however, the scenario changes a bit as yellow pages and print ads came into existence. Reports suggests that the print and advertising media gain fame and reliability in the time of boom, when the new generation entrepreneurs took the initiative and had the audacity to pursue risk taking tasks. And, with this support, print media achieve relentless growth. For example through subcontracting from big companies by simply publishing their business processes and the services they offer. Print media invented the concept of yellow pages, sourcing guides for publicizing and advertising their clients in order to look for the potential trading partners, their clients can integrate. Nevertheless, its an expensive affair to be a part of and, most of the SMEs couldn't convince themselves to spend such hefty amounts on just promotions. The aversion from being prodigal make the SMEs ride along the archaic ways of sales or look for better and cheaper options

With the boom in IT industry,The e-commerce is growing and web services have a potential to enhance B2B match making over the Internet by allowing companies and organizations to publish their business processes on service directories where potential trading partners can find them. The methods used by e–commerce for B2B matchmaking are new and is creating surprises. Based on the cheapest way of communication - the internet, this concept involves few easy and very cheap steps: first of all registering oneself on a standard or specific web based business registration form, based on your needs and work flow. Secondly, looking for tentative clients by searching in Public list of registered companies which have been validated- implemented in web page. Later, the unique matchmaking routine progresses by a series of e-mails to individual companies. Matches are arranged systematically and efficiently between supply and demand. At the end, The parties meet, exchange experiences and forge cooperative partnerships

Online B2B matchmaking and marketing companies provides numerous add-on features to enhance the visibility of users and to make them feel them contented. Registered users receive the benefit of increased visibility just by posting product descriptions and pictures, a short company profile and contact information on a standard form online. Buyers then discover them through searches conducted according to category and product, or by posting exact specifications of the goods they desire and allowing manufacturers to come to them with offers and estimates.



Albeit, according to the business analysts,in this ROI-driven recessionary climate in which B2B marketers and agencies are expected to still make budget and generate profits with far fewer staffers and resources. On the contrary, the SMEs are still a bit reluctant about joining them and using their services. With the consensus saying that out of 13 million SMEs in India, only a meager percentage has opted to use B2B matchmaking and within them only a few are optimistic about their growth. Rest are apprehensive on the recourse of development, government has not done enough to provide support. But, on the contrary, companies like IndiaMART are doing the good work to promote the SMEs. And is constantly working on newer and more efficient ways to come up with some optimal solution to mark the SMEs growth as exponential.

The SMEs should constantly urge the government for a discourse, to plan out measures for new B2B matchmaking strategies which are efficient and promising as 'just dial' and promotion through television. Like wise, it would be an ingenious step for SMEs to join hands with companies like IndiaMART on the recourse of development and envisage for better and more pertinent opportunities globally.

B2B Marketplace – Easy Way of Doing Online Business

Business today has become very competitive. Cut throat competition demands more visibility than ever before. Companies try to reach out their prospective customers through all conventional means primarily through print and television media. However, envisaging a change, some forward thinking businesses do realize the importance of creating their own online identities and they end up developing a website for their business. But sooner or later they realize that a website alone cannot do much in this huge virtual world. Just plain websites generally lead to a huge gap in enticing the target audience.

Though, what will be pertinent to coup the plight of businesses is transient and the permanent solution is still an obscure issue. But in the present scenario of development and technological advancement, for any company to grow, an online marketplace for networking and matchmaking is a must. An e-marketplace is a virtual online market where organizations register as buyers or sellers to conduct business-to-business (B2B) e-commerce over the internet. Going an extra mile with such online matchmaking platform is an utter need of the hour.

The online marketplace provides a means for buyers of various types of products and job shops to find one another and do business. In this online version, however, buyers need not search out potential suppliers through directories, word-of-mouth recommendations or other manual means. A representative said that IndiaMART.com, India's biggest online B2B marketplace, allows businesses to connect with their customers, pushing out information and sell to those customers on the spot - when the customer is ready to buy. And on the reverse, it allows buyers to browse, look at products, send the merchant a note/query and buy on the spot after being registered. Addition to it, buyers post their requests for quotes (Buy/sell leads) on the web site, similarly on these pages a supplier can post their selling offers.

These market places are becoming the boom for the industry. It provides business and prospective leads through its versatile services at a very low prices (as the online medium is much cheaper and efficient than the archaic methods of sales such as cold calls, mailers.) Services offered by such e-marketplaces include electronic catalogues for online purchasing of goods and services, business directory listings, communication, credibility to the suppliers and online auctions. Ideally, such marketplaces provide a turnkey way for businesses to have a presence online (complimenting or in place of a web site), find customers (or enable customers to find them) and facilitate online transactions. It help the buyers/ suppliers to opt for cheaper medium, which costs less but brings high benefits. Since it costs nothing to join these matchmaking platforms like IndiaMART.com, it can't hurt to invest some time to setup your online profile, if you get business, good. If you don't find it working for you, you've just lost a few minutes of time.