The global provider of B2B data Dun & Bradstreet Information Services India signed a Memorandum of Understanding (MoU) with BSE . This is to create an ecosystem for promoting, aiding and fostering the growth of Small and Medium Enterprises (SMEs) in the country.
This association will help SMEs in India to increase their visibility, expand access to global markets, find potential customers, uncover new suppliers and channel partners, manage risk and identify growth opportunities.
Speaking about the partnership, Avinash Gupta, Managing Director & CEO – India, Dun & Bradstreet said, “Dun & Bradstreet has been engaged with Indian MSMEs since the past two decades, providing them with the necessary business intelligence to help them grow and thrive, even in challenging times. As countries are witnessing 2nd and 3rd waves of the pandemic amidst battling the deepest recession since the World War II, SMEs are the worst affected across countries, sectors and segments, and India is no exception. In India, more than 99 per cent of businesses belong to Micro, Small and Medium category and 94 per cent of them are unorganized."
Dun & Bradstreet's recent survey conducted in the last quarter of 2020 reveals that the three topmost challenges that might impede SMEs to scale up their businesses are Market Access (42 per cent), Improving the Overall Productivity (37 per cent) and Having Access to More Finance (34 per cent). By working with BSE, we expect to play a pivotal role in enabling the eco-system required to accelerate SME growth and help achieve the government GDP contribution target of 50 per cent of GDP by FY 2025.”
Commenting on this collaboration, Ajay Thakur, Head-BSE SME & Startups, said, “The current economic situation may propel more SMEs and Startups to avail of these services in order to further improve their businesses. This MoU will help both BSE and Dun & Bradstreet to reach to maximum SMEs across the country for offering their products which will be beneficial to them and bring growth in their business. This will also create inclusive growth and employment in the country."
How will it help MSMES:
- The new partnership will provide Indian SMEs with access to Dun & Bradstreet’s data and analytics solutions via BSE SME & Start-up Platform.
- Products by Dun & Bradstreet can help MSMEs build credibility both domestically and globally.
- Some products can help SMEs find and access potential buyers and business partners around the world to drive sustainable growth with Dun & Bradstreet’s leading data and analytics.
Dun & Bradstreet India will also partner with BSE to provide customised training and certification programs to help SMEs better navigate the ever-changing global business environment.
- Dun & Bradstreet India will also share their SME database and clients with BSE. So that, BSE can create awareness about the benefits of listing on BSE SME Platform.
- As a combined effort, BSE and Dun & Bradstreet India will jointly organise events to create awareness about their respective products and services among SMEs.
BSE became the first stock exchange to get the approval from SEBI and had launched its SME platform on March 13, 2012.
So far 337 companies listed on BSE SME Platform have raised Rs 3,498 crore from the market and total market capitalization of 337 companies as on May 12, 2021 is Rs. 25,137 Crore. Out of which 99 companies are migrated to BSE Main Board. BSE is the market leader in this segment with a market share of 61 percent.