Opportunities and Challenges for SMEs
Business Standard Smart Businessin association with GCCI in Ahmedabad on April 5, 2016.
(From left to right) Jaimin Vasa (Chairman - MSME Committee, GCCI), Atul Tiwari (Regional Head, Birla Sun Life Insurance), Rajeev Shah (MD & CEO, RBSA Advisors LLP), Rohit Patel (President, GCCI), Vimal Ambani (MD, Tower Overseas Limited), Nirav Shah (MD & CEO, Jayatma Informatics Pvt. Ltd.) and Prakash Nayak (Executive Vice President, Group Corporate Relations, Kotak Mahindra Bank) at Business Standard Smart Businessin association with GCCI in Ahmedabad on April 5, 2016.
At the Business Standard Smart Business seminar on 'Opportunities and Challenges for SMEs' organised in association with Gujarat Chamber of Commerce and Industry and protection partner Birla Sun Life Insurance, the discussion revolved around overcoming the challenges that SMEs face in their journey of business building and scaling up and capitalising on the opportunities that lay ahead.
Vimal Ambani, Managing Director, Tower Overseas Limited, said that while bureaucracy was a challenge, SMEs should look to growing the system rather than breaking it.
Rajeev Shah, Managing Director and CEO, RBSA Advisors LLP, pointed out that SMEs continued to compete on price and were not scaling up. He advised SMEs to start thinking big.
Nirav Shah, Managing Director and CEO, Jayatma Informatics Pvt. Ltd., said that SMEs should not be afraid to tame technology. “Business life cycles are coming down faster due to technological upgradation,” he said.
Prakash Nayak, Executive Vice President, Group Corporate Relations, Kotak Mahindra Bank, said that SMEs need to work harder to bring in a compliant culture in their organisations to ease raising credit from banks.
Jaimin Vasa, Chairman - MSME Committee, GCCI, said that while conducting research and development was a costly affair, it was the need of the hour for SMEs.
Rohit Patel, President, GCCI, said that developing marketability was inevitable for SMEs to meet challenges.
Atul Tiwari, Regional Head, Birla Sun Life Insurance, spoke on nine risks that SMEs could face in a business life cycle. Preparing ahead of turbulent times could take them a step ahead of their competitors, he said.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Apr 26 2016 | 4:34 PM IST