Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2013-11-14

“SMEs to contribute 22% to national GDP in near future”

A new study by ASSOCHAM showed the contribution of SMEs is around 17 per cent to the national Gross Domestic Product (GDP). The study projects the same to touch 22 per cent in the near future.

A new study by ASSOCHAM showed the contribution of SMEs is around 17 per cent to the national Gross Domestic Product (GDP). The study projects the same to touch 22 per cent in the near future.

 

The statistics was revealed by Sudebh Sarbadhikary, CEO of India Factoring and Financial Solutions Private Limited, at a press meet on the organisation’s development and future plans.He said that SMEs accounted for 45 per cent of the industrial output in addition to creating one million jobs annually.

 

He added that working capital management was a concern that most SMEs face. “The recent economic crisis saw many large organisations looking to squeeze their supply chains in an effort to improve their efficiency. It is evident that the access to finance by SMEs is mainly constrained due to the unwillingness of the financial institutions or investors, given the high risks associated,” he said.

 

He also said that due to lack of collateral and absence of clear financial records, SMEs failed to receive funds. “In such a scenario, factoring services have the potential to emerge as an important means of raising working capital. Factoring is also the most suited for MSMEs since it does not require collateral,” he said.

 

Related opportunities
  • Opticians/Eye Wear
    About Us: CVC Opticals is a fast-growing national chain of over..
    Locations looking for expansion Delhi
    Establishment year 2015
    Franchising Launch Date 2019
    Investment size Rs. 20lac - 30lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Online Food Ordering Services
    About Zomato : Founded by Deepinder Goyal in 2008, Zomato is..
    Locations looking for expansion Delhi
    Establishment year 2004
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 1800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Ice Creams & Yogurt Parlors
    About Us: Grandpa's  ice cream-Fresh & Naturalbrings in a wide range of..
    Locations looking for expansion Delhi
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Departmental/Unisex
    About Us: Tailorz was launched in 2015 with a vision to..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts