MSMEs form the backbone of the Indian economy employing >120 Mn individuals. In the current times when businesses, big or small, across industries have taken a hit, the blow of Covid-19 has been felt particularly harder by the MSMEs in India. The problems faced by the MSMEs are multifold- from shrinking demand and supply chain disruptions to cash flow challenges- the list goes on. According to Wadhwani Foundation, this is a time when many SMEs are struggling to stay afloat and contemplating shutting down their businesses and providing them with specialized consulting on surviving, stabilizing and growing will be a critical differentiator.
A key concern of MSMEs is the availability of resources and expertise to help them tide over the various challenges faced by them. To address this, Clix Capital has entered into a strategic partnership with Wadhwani Foundation, a global non-profit organization to provide soft assistance to its MSME partners to enable them to survive and grow amidst the current crisis through the Sahayata Program. The Sahayata Business Stability Program aims to support SMEs with business survival, stability and growth consulting to help save or create thousands of jobs.
Clix Capital and Wadhwani Foundation will select 2000 Clix MSME partners to engage with through the Sahayata program, over the next few months. Under this outcome-oriented program, the MSMEs will receive personalized, actionable content in the form of videos, readings, articles, playbooks and infographics curated by the Wadhwani Foundation, one-on-one mentorship from experts relevant to their domain and access to consultants and advisors for further guidance on finding solutions to MSME’s key business challenges. MSMEs will have bespoke engagement models based on their business requirements.
The main objectives of the Sahayata Business Stability Program are:
1. To provide business consulting expertise to MSMEs to survive now, stabilize in the near-term and position themselves for growth in the mid- and long-term, and help them save or create jobs
2. To inculcate robust strategies and operational best practices for SMEs to be able to address challenges with customers, broken supply chains, and disrupted internal processes, including cash management and employee retention.
3. To provide a comprehensive and growing digital video library of business transformation and best practices content as well as the Wadhwani Foundation’s advanced technology platform to the team of business consultants for high-intensity SME engagement.
Clix Capital and the team at Wadhwani Advantage will be regularly evaluating the impact of the program in terms of MSME capabilities developed, business growth achieved, employment generated, etc. This is the first of its kind initiative in the Indian MSME ecosystem and aims to provide the requisite expertise to the MSMEs across various domains. The Sahayata Business Stability Program coupled with the various stimulus measures announced by the government will help MSMEs to continue growing despite the massive challenges created by the pandemic.
Thanking Clix Capital on joining hands with the Foundation to support the Sahayata Initiative, Padma Shri Dr Romesh Wadhwani, Founder and Chairman, Wadhwani Foundation said, “While COVID-19 has created both a health and an economic crisis, it will especially harm SMEs and jobs. Without proper credit and consulting support to help stabilize many of these small businesses, the short-term and long-term damage to the SME sector will be enormous. As a result, the Wadhwani Foundation has decided to make a large investment to supplement the government’s massive stimulus package for SMEs by providing up to 10,000 SMEs with consulting services that will help them survive, stabilize, and ultimately, grow into even bigger, more successful businesses. A support program at this scale is complex, and this Sahayata program will involve a large number of consultants from WF’s own organization as well as consultants seconded from our partner organizations, as well as existing and new WF content and technology. All of WF’s consulting and other services, content and technology is being provided pro bono at no cost to SMEs.”
Pramod Bhasin, Founder and Chairman, Clix Capital said, “While the government through various measures has ensured affordable credit is available to MSMEs who need it; expertise and specialized talent across specific areas continue to be a major handicap. Through our partnership with the Wadhwani Foundation, we aim to create a support program to plug the skill gap for our MSME partners with measurable outcomes.”
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