SUMMARY OF PROCEEDINGS: INDORE

The India SME Forum initiated its “Business Leadership Series” from Indore. It was organized jointly by India SME forum and Association of industries Madhya Pradesh on 7th November 2014 at Fortune Landmark, Indore where 95 SMEs enthusiastically participated in the workshop. It was held in two sessions and aimed at giving tips to budding small scale industrialist. First session explained ‘Growing Money on trees’ for sustainable growth with live examples and case studies and the second session was on ‘More for less’ which elaborated customer markets and brands for a flourishing business.

The program began with a lamp lighting ceremony by Mr. Vinod Kumar, Mr. Sanjay Athalye, Mr. Anirban Chatterji, Mr. Sudhanshu Vijayvargiya, and Mr. Hemant Mehtani. The knowledge sharing and facilitation workshop involved discussion topic on Finance management for sustainable growth and effective management of customers, markets and brands.

Through live examples and case studies the present entrepreneurs were unfurnished with the doubts and myths that industrialist carried in their business procedures through ages. They were given business tips for effective business practices by the experts and mentors from the industry.

Ms. Sushma Morthania, Director General, India SME Forum said, ‘We provide a platform to all those entrepreneurs, who want to spread their business and make it big.’ Mr.Vinod Kumar,Managing, Partner-India & Middle East, SDRC India Advisors LLP, stated, ‘around 34% SMEs get closed in India within three years of existence. For women entrepreneurs, figure is even worse with 60% business getting closed within first two years of start. Every entrepreneur should nurture his business in the best possible way he can.’

Mr. Sanjay Athalye, senior risk officer at Reliance commercial finance stated, ‘in order to get faster and easy loans from the financial institutes, existing SMEs should keep a clean track record at SIBIL and the new units should receive the credit ratings from CRISIL. The SIBIL and CRISIL ratings help units to get loan easily.’

Associations of Industries Madhya Pradesh, President, Hemant Mehtani said, ‘Entrepreners must be aware of the details required for business to grow.’ He also stated that they are constantly doing hard efforts to provide effective mentoring to the local SMEs. The program concluded on the thought that SMEs contribute over 45% of industrial output, 40% of exports, and create 1.3 million jobs every year. While most developed economies have over 50% of working population as self-employed, it is about 4% in India. So if India has to develop like other developed economies, it has a long gap to fill with entrepreneurs.