MSMEs and startups can help each other…
MSMEs and startups can help each other, In the fight against Covid-19.
Cash is king but the significance of mergers, collaborations and sector specific reforms needs to be duly recognised too if one wants to find a way forward.
Industry experts unanimously agreed that it is only innovation that can drive the business forward for MSMEs and it needs to be stepped up more than ever before.
The market has been badly hit due to the corona pandemic and hence, the focus should now be on digital growth. “It is a hard time for everyone. MSMEs and startups in the advertising arena have been planning on growing digitally. At this time, everyone will have to suffer a little, be it a startup or a big company, but eventually this shall pass too. Everybody should focus on digital as it is the only platform that is still going on.
Collaborations and partnerships between MSMEs and startups are the way forward for the industry to fight it out and emerge stronger amid the Coronavirus outbreak. Though cash optimisation is the need of the hour, how MSMEs innovate during this period and strike interesting synergies is what will make them go the distance, feel industry experts. “Startups come with crazy disruptive ideas and MSMEs have scores of different ideas on aspects as they have been in the industry longer. When both converge, a new line of business is bound to come up. In the longer run, it will lead to reinventing the entire business.
The Financial Strategy for MSMEs for Business Continuity.’
Technology has to be used in a more fruitful manner example as in 3D printing, virtual reality-based design, drone and autonomous transport, AI and ML and Internet of Things (IoT) that can help revolutionise the game. Try as much as possible to collaborate. Focus on mergers, joint development agreements, sector specific reforms and the like. Unless we collaborate, we can not fight the situation.
Technology has to be used in a more fruitful manner example as in 3D printing, virtual reality-based design, drone and autonomous transport, AI and ML and Internet of Things (IoT) that can help revolutionise the game. Try as much as possible to collaborate. Focus on mergers, joint development agreements, sector specific reforms and the like. Unless we collaborate, we can not fight the situation.
