Dr Ajay Kela, President and CEO, Wadhwani Foundation speaks at the TiE Global Summit 2020 and highlighted that although capital infusion has come from the government as a stimulus package for the MSME sector, uncertainty around growth will continue to challenge MSMEs. Therefore, business consulting support to utilize the funds better, and survive and thrive assumes critical importance.
The MSME sector was already in a challenging situation due to the global economic crisis and was dealt with a debilitating blow when the pandemic arrived. However, SMEs have to keep faith and explore every single opportunity of economic revival.
Dr Ajay Kela, President and CEO, Wadhwani Foundation speaks at the TiE Global Summit 2020 and highlighted the following points:
Although capital infusion has come from the government as a stimulus package for the MSME sector, uncertainty around growth will continue to challenge MSMEs. Therefore, business consulting support to utilize the funds better, and survive and thrive assumes critical importance.
Expressing his views in a panel on ‘Turning the Small Businesses Around’ at the Tie Global Summit 2020, Dr Ajay Kela, President and CEO, Wadhwani Foundation said, “The COVID-19 pandemic has made MSMEs vulnerable across multiple dimensions. They are simultaneously dealing with disruption in supply chains, access to markets, capacity utilization, talent retention, sinking employee motivation & morale, etc. The COVID-19 impact will last for another 18-24 months. Such dire circumstances call for MSMEs to remain resilient, be adaptive, seek help, and use the pandemic as an opportunity to innovate and embrace change. The Foundation, through the Wadhwani Sahayata program, has mobilized a large team of consultants and has built an ecosystem of partners, including government ministries, agencies, banks, and consulting firms, to help MSMEs survive, stabilize, and emerge victorious through this crisis.”
Situasi ini menuntut usaha kecil untuk menemukan kembali dan menyusun ulang strategi untuk memprioritaskan kelangsungan hidup daripada pertumbuhan. Untuk memastikan likuiditas dan memperlambat laju pembakaran, UKM harus merencanakan landasan pacu 18 bulan, selain dapat memenuhi tantangan langsung dari iuran wajib, upah, dan kreditor yang mendesak.
UMKM perlu melihat peluang-peluang baru karena budaya adopsi online yang luas membuka pasar global, perusahaan-perusahaan global mencari rantai pasokan alternatif seperti India, dan rupee yang lebih lemah meningkatkan daya saing harga. Peluang-peluang ini akan menghasilkan dampak positif jangka panjang terhadap ekonomi dan sektor ini, membuka pintu permanen ke pasar yang lebih luas.
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