Edelweiss Decodes Sustainability for MSMEs

Mumbai, India - Edelweiss SME Lending marked the International MSME Day by hosting a webinar comprising a panel of industry experts discussing the topic –‘MSMEs: New Heroes in the New Normal!’

According to Rashesh Shah, Chairman & CEO, Edelweiss Group though COVID-19 has impacted the MSMEs, yet it could also potentially be a trend accelerator for the business. He said, “The pandemic is opening up fresh opportunities for businesses to script better stories of success. The current economic condition is an opportunity to recalibrate, retest and most importantly repivot. We need to view the current context and the India story with a bi-focal lens, one that balances these short-term challenges, with the long-term opportunity.”

The current situation has posed several challenges to the spirit of entrepreneurship. Survival of business in the long-run and getting payments from clients remain the top two concerns for SMEs and retail businesses. The webinar sought to acknowledge the contribution of MSMEs in light of current challenges, while leveraging this as a platform to share insights and expertise on what to expect in the near future and thrive, in the new normal that awaits us.  

In his closing remarks, Deepak Mittal, CEO Credit, Edelweiss Group, said, “MSMEs are realising that business models will need tweaking, be it in delivery or servicing, in-demand aggregation or in digitizing payments. Reinvention and reimagination, have now changed in their definition. MSMEs should seize this opportunity to reconnect with their customers and rethink their proposition. This is a time to be nimble and MSMEs can be far quicker, to leverage emerging opportunities vis-à-vis larger enterprises.”

Image Source: Edelweiss Group

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