Internet - Empowering Businesses, Small & Big

New entrepreneurs are the need of the hour for India, if we need to grow at a rate of 10% says Ashank Desai, Chairman of Mastek, one of the authors of India's IT triumph story. But the existing enterprises need to nourish themselves with every available opportunity to grow and expand as we are in the backlogs compared to growing industries worldwide.

Technology is one of the major hit to Small and Medium Enterprises. We are decades behind when it comes to being tech-savvy. Having a website and being connected online is not only important but the very survival of the enterprise depends on it. One should be available from anywhere in the world ready to supply on demand. That brings efficiency and the making of a thoroughbred enterprise.


Moreover, with globalization - the evil storm on small enterprises - several new challenges have cropped up. Liberalization, competitors from across the globe, lesser pricing and enhanced customer service are some of these. Our SMEs are fighting Chinese products with all their might, yet they are falling short on efforts. Reason being online connectivity. Once you are connected and strive for a global platform, you receive recognition which in turn will roll in customers.

Adding to this, credibility is another name of the game. And it will come only if you are registered. After the government licenses are cleared, SMEs must register themselves at important portals like www.indiamart.com and www.bizexchange.in. Registering is the beginning of lasting relationships. These portals are platforms for suppliers to meet buyers and vice versa. Directories of the smallest of companies are registered here with complete product and contact details. You can get connected with your dream supplier or buyer within minutes, thus saving time and money invested in searching for the right company. In addition, IndiaMART.com gives suppliers a TrustSEAL, further bridging the trust gap between buyers and suppliers.

These portals also allow suppliers to showcase their products. Buyers can check products and pricing giving them a look and feel of the supplier in a nutshell.

Internet is therefore the key to grow and profit. The key to survival and enhancement. Thus growth of SMEs and indirectly the growth of the country can all be attributed to the internet.

The future holds strong for those SMEs who can take on change and adhere to the requirements of current times. Being internet-savvy, building a strong technology base, international perspective and an ever-evolving attitude are a few characteristics that will help SMEs have a sustainable competitive advantage in the long run. Be empowered today!