Except for the massive business homes, the $64000 contributors towards the economic process are the tiny and middle-sized enterprises happiness to totally different industries.To learn regarding totally different business sectors of SMEs in India.
There's no higher place than a b2b business directory, wherever these businesses open their doors for the globe.
Considering the recognition and rate of growth of companies, here are a few lists of small and medium enterprises in India: -Foods and BeveragesThe foods and beverages are one of the Small and Medium Enterprises trade in India that has gained quality within the past 3-4 years, chiefly thanks to the dynamic fashion and feeding habits of the people.
A rate of growth of 7.5 % predicted between 2009 and 2013 to create a 330 billion trade by 2013.IT IndustryThe information technology sector of India is predicted to extend by 14.1 % from 2009 to 2010.
And this industry is in most demand and everyone is engaged in this industry, especially in the digital world.Health tradeDue to an enormous totally different within the tending prices in India and therefore the western countries, the health trade of the country is experiencing a growth in terms of business.
The analysis shows that the present 35 billion trade will touch the figure of 75 billion in 2012 and 150 billion greenbacks by the year 2017.Textile tradeTextile trade of India may be a globally supposed b2b sector.
In the last few ears, e-commerce has become one of the most preferred means of shopping. Be it B2C or B2B, customers have been spoilt for choice, price comparisons and delivery of products at their doorstep.
E-commerce has revolutionized the sales for small and medium enterprises. With geographical location not being an issue anymore, sales have seen an upward swing in the last couple of years, thanks to e-commerce.
Just like that, online shopping has now become more quick, convenient and more user-friendly.
If you are an SME and wondering if B2B e-commerce is the right way for you, there are a few things you need to consider:
Financial implications- Do you have what it takes to provide your customers with an end to end online shopping experience.
Skilled IT Personnel team- To run an online store, you need a team of IT personnel to keep it up and running.
Operation architecture- Decide on your operating model architecture. From where you would source, store and sell your products. The operational structure is the foundation for the success of your e-store.
Risk-taker- Even if your e-store has the right products, product content, and in enriched with SEO keywords, it will still take time for a complete turnaround. So don’t lose hope. You may have to wait it out.
Management/board support- Without the collaborative effort from each member of your team, no store or e-store can be successful. If even one member does not comply with your thought and ideas related to e-store investment, you may have a problem brewing there for the future.
Legal assistance- Make sure you hire a lawyer to draft your sales policies and partnership policies if any. You do not want future customers dragging you to court for a faulty product or service.
Technology research to stay updated- Make sure you have done enough research product-wise and technology-wise in the market. You do not want to be out-dated as soon as you launch. Being up-to-date is key in managing a successful e-store.
Physical Infrastructure-Make is sure you have the physical infrastructure needed to run an e-store. You will still need an office space for your small member teams to operate from or even a warehouse to store your products.
Government rules & policies- Every country has s different policy towards managing their internet access and online sales. Make sure you adhere to the rules and regulations put out by the government.
Choosing the right e-commerce solutions- Though this may sound like the most important of the 10 step checklist, this is the most taken-for-granted point by many start-ups.
- Make sure you have an inbuilt software algorithm to map customer behavior. This will help you understand consumer behavior better. Recording the purchase journey of every customer will give you unfiltered access to insights that can be used for making future strategic decisions.
- Categorization of products, creation of promotional email, targeted email campaigns, etc., should be carried out seasonally. Make sure the solution’s architecture supports this.
- Some products’ demands may peak during certain times of the year. The solution you opt for should be able to handle these sudden demands.
- The solution should be scalable enough to increase production numbers or be open to any upgrades in the years to come.
- Make sure your solution provides a seamless buying experience for your customers. Given that B2C is now taking precedence and making a benchmark in online shopping, make sure the B2B shopping experience you provide is close enough to a B2C seasoning and sophistication.
Yes, there are many benefits to choosing the B2B e-commerce way.
Such as,
Low operating budget- Running an e-commerce store is much more financially viable compared to running a brick and mortar store. Consider the expenditure you would be shedding for the physical store itself, along with the sales force and operating cost.
Having an e-store, you only need small office space, with the right technical people to run the show.
Increased ROI- With the absence of geographical limitations, the revenue you are bound to generate from an e-store is no comparison to a brick and mortar store.
You can capture new audiences every day with written feedback from your old and happy customers. With e-store functioning 24/7, you are open to different times zones and holidays all year long.
Social media Recommendation-With the boom of social media, customers happy with your product and service talk about their experience in social media platforms like Facebook, Twitter, Pinterest, LinkedIn, Instagram and more.
This is an added advantage against the biggies in the industry, who usually do not have their customer recommendations working for them.
Learning consumer behavior- In a mom & pop shop, small businesses are forced to assume and speculate over the purchase journey of a customer. With no fixed data to support his findings, he hovers around pre-conceived notions usually from big players in the same industry.
Having an e-store, with the right software algorithm in-built, help you understand consumer behavior. How much time a specific consumer spends on a product, what he reads, which page he goes to, how much time he spends on a page, so on and so forth.
The insights are extensive and prove beneficial in making strategic choices for the future.
Larger marketing ROI- After saving so much cost, all that money can be diverted to marketing your e-store. Advertising worldwide, online or offline, you can drive customers to your e-store.
You can also create targeted marketing messages to specific customers, based on their behavioral data collected by your e-store whilst they were browsing through their purchase journey.
There are so many reasons pointing towards e-commerce being the next big idea you are going to work on for your SME’s lifecycle.
Make sure you hire a consultant who can help you lead the way.
For more queries and a free consult, Get in touch with us, Altius Technologies
.
As a small and medium-sized enterprise tries to expand and diversify, it encounters a series of challenges.
These challenges do not affect large companies but have a major impact on the growth of SMEs.In this blog, we will look at such challenges and the ways to overcome them.LeadershipMost often when a business starts to grow, up to a certain extent having family-like bonding with the employees works for the business as employees are then willing to help the business sustain and grow.However, when the business starts to expand and diversify, there is a need for strong leadership, the right skill sets, and talented coworkers.
This is when finding high performers becomes a challenge.In order to overcome the challenge, business leaders must be strong-willed and should encourage their employees to perform better from time to time.
Strategy PlanningSME owners may find strategy planning challenging at times.
Since strategy is the base for any business to function smoothly, it is essential to have the plan in place and seek help whenever required.Now, thanks to technology, there are tools that can document single page business plans for the company.
Executing the strategy becomes difficult since there are some situation-based or sudden issues that the business must overcome.Hence, the ideal solution is to break the yearly plan in quarterly plans and ensure that the goals are met accordingly.Systems and ProcessesHaving defined systems and processes is as important for small and medium-sized businesses, as it is for established large organizations.This is what makes the business more productive.
If this is your question, in the prevailing pandemic situation, companies irrespective of their sizes are forced to work on a remote basis evolving varying operational models.
The bigger companies have so far managed to adopt cloud at various levels.However, for smaller businesses, the adoption till date has been very cautious, largely influenced by necessity.
Mostly SaaS is consumed on-demand.
Work spaces can be planned at minimal cost as cloud services can be accessed via internet on any device, not just desktop but also via laptop, mobile, iPad and tablet.
This can be considered a good investment as moving forward the entire maintenance cost will be minimal and the spending towards hardware environment will reduce drastically.
Most of co-workers these days operate at different time zones and getting hands on to latest version of any work is no challenge as it’s readily available on cloud.In terms of security, cloud services are offered at compliance of very stringent rules and regulations to protect users’ data.
According to the new market research report by IndustryARC titled “Blockchain Market in Small & Medium Business: By Product & Services (Exchanging, Trading & Investment); By Provider Type (Infrastructure, Protocol Provider); By Type (Public, Private & Consortium); By Industry (Retail, Healthcare, Transportation); By Forecast (2018-2023)”, the market is driven by the copious benefits that the blockchain technology bestows.To access/purchase the full report, browse the link below:https://industryarc.com/Report/17926/blockchain-market-in-small-medium-business.htmlAmericas holds the largest market share in the Blockchain Market in Small and Medium Businesses Market:North America holds the largest market share and growth in the Blockchain Market in small and Medium Businesses.
Americas region comprises of well-established end user industries which are increasingly employing Blockchain technology for payments, digital identities, and documentation.
This is reportedly driving the market in this region.Selected Value Chain Analysis Done in the Full Report:Blockchain has brought revolutionary changes in SMB (small and medium sized businesses) sector.
With Blockchain technology now traders across the globe got an opportunity to exchange confidential information and other transactional activities in an encrypted and veritable environment.
Trading & InvestmentWhat can you expect from the report?The Blockchain Market in small and medium businesses Market is prepared with the main agenda to cover the Following Points:1.
You can drop an e-mail to [email protected] to learn more about our consulting services.Media Contact:Mr. Venkat ReddySales ManagerEmail 1: [email protected] Email 2: [email protected] Sales: +1-614-588-8538 (Ext-101)About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, and Life Sciences & Healthcare.IndustryARC primarily focuses on cutting-edge technologies and newer applications in a market.
Except for the massive business homes, the $64000 contributors towards the economic process are the tiny and middle-sized enterprises happiness to totally different industries.To learn regarding totally different business sectors of SMEs in India.
There's no higher place than a b2b business directory, wherever these businesses open their doors for the globe.
Considering the recognition and rate of growth of companies, here are a few lists of small and medium enterprises in India: -Foods and BeveragesThe foods and beverages are one of the Small and Medium Enterprises trade in India that has gained quality within the past 3-4 years, chiefly thanks to the dynamic fashion and feeding habits of the people.
A rate of growth of 7.5 % predicted between 2009 and 2013 to create a 330 billion trade by 2013.IT IndustryThe information technology sector of India is predicted to extend by 14.1 % from 2009 to 2010.
And this industry is in most demand and everyone is engaged in this industry, especially in the digital world.Health tradeDue to an enormous totally different within the tending prices in India and therefore the western countries, the health trade of the country is experiencing a growth in terms of business.
The analysis shows that the present 35 billion trade will touch the figure of 75 billion in 2012 and 150 billion greenbacks by the year 2017.Textile tradeTextile trade of India may be a globally supposed b2b sector.
In the last few ears, e-commerce has become one of the most preferred means of shopping. Be it B2C or B2B, customers have been spoilt for choice, price comparisons and delivery of products at their doorstep.
E-commerce has revolutionized the sales for small and medium enterprises. With geographical location not being an issue anymore, sales have seen an upward swing in the last couple of years, thanks to e-commerce.
Just like that, online shopping has now become more quick, convenient and more user-friendly.
If you are an SME and wondering if B2B e-commerce is the right way for you, there are a few things you need to consider:
Financial implications- Do you have what it takes to provide your customers with an end to end online shopping experience.
Skilled IT Personnel team- To run an online store, you need a team of IT personnel to keep it up and running.
Operation architecture- Decide on your operating model architecture. From where you would source, store and sell your products. The operational structure is the foundation for the success of your e-store.
Risk-taker- Even if your e-store has the right products, product content, and in enriched with SEO keywords, it will still take time for a complete turnaround. So don’t lose hope. You may have to wait it out.
Management/board support- Without the collaborative effort from each member of your team, no store or e-store can be successful. If even one member does not comply with your thought and ideas related to e-store investment, you may have a problem brewing there for the future.
Legal assistance- Make sure you hire a lawyer to draft your sales policies and partnership policies if any. You do not want future customers dragging you to court for a faulty product or service.
Technology research to stay updated- Make sure you have done enough research product-wise and technology-wise in the market. You do not want to be out-dated as soon as you launch. Being up-to-date is key in managing a successful e-store.
Physical Infrastructure-Make is sure you have the physical infrastructure needed to run an e-store. You will still need an office space for your small member teams to operate from or even a warehouse to store your products.
Government rules & policies- Every country has s different policy towards managing their internet access and online sales. Make sure you adhere to the rules and regulations put out by the government.
Choosing the right e-commerce solutions- Though this may sound like the most important of the 10 step checklist, this is the most taken-for-granted point by many start-ups.
- Make sure you have an inbuilt software algorithm to map customer behavior. This will help you understand consumer behavior better. Recording the purchase journey of every customer will give you unfiltered access to insights that can be used for making future strategic decisions.
- Categorization of products, creation of promotional email, targeted email campaigns, etc., should be carried out seasonally. Make sure the solution’s architecture supports this.
- Some products’ demands may peak during certain times of the year. The solution you opt for should be able to handle these sudden demands.
- The solution should be scalable enough to increase production numbers or be open to any upgrades in the years to come.
- Make sure your solution provides a seamless buying experience for your customers. Given that B2C is now taking precedence and making a benchmark in online shopping, make sure the B2B shopping experience you provide is close enough to a B2C seasoning and sophistication.
Yes, there are many benefits to choosing the B2B e-commerce way.
Such as,
Low operating budget- Running an e-commerce store is much more financially viable compared to running a brick and mortar store. Consider the expenditure you would be shedding for the physical store itself, along with the sales force and operating cost.
Having an e-store, you only need small office space, with the right technical people to run the show.
Increased ROI- With the absence of geographical limitations, the revenue you are bound to generate from an e-store is no comparison to a brick and mortar store.
You can capture new audiences every day with written feedback from your old and happy customers. With e-store functioning 24/7, you are open to different times zones and holidays all year long.
Social media Recommendation-With the boom of social media, customers happy with your product and service talk about their experience in social media platforms like Facebook, Twitter, Pinterest, LinkedIn, Instagram and more.
This is an added advantage against the biggies in the industry, who usually do not have their customer recommendations working for them.
Learning consumer behavior- In a mom & pop shop, small businesses are forced to assume and speculate over the purchase journey of a customer. With no fixed data to support his findings, he hovers around pre-conceived notions usually from big players in the same industry.
Having an e-store, with the right software algorithm in-built, help you understand consumer behavior. How much time a specific consumer spends on a product, what he reads, which page he goes to, how much time he spends on a page, so on and so forth.
The insights are extensive and prove beneficial in making strategic choices for the future.
Larger marketing ROI- After saving so much cost, all that money can be diverted to marketing your e-store. Advertising worldwide, online or offline, you can drive customers to your e-store.
You can also create targeted marketing messages to specific customers, based on their behavioral data collected by your e-store whilst they were browsing through their purchase journey.
There are so many reasons pointing towards e-commerce being the next big idea you are going to work on for your SME’s lifecycle.
Make sure you hire a consultant who can help you lead the way.
For more queries and a free consult, Get in touch with us, Altius Technologies
.
As a small and medium-sized enterprise tries to expand and diversify, it encounters a series of challenges.
These challenges do not affect large companies but have a major impact on the growth of SMEs.In this blog, we will look at such challenges and the ways to overcome them.LeadershipMost often when a business starts to grow, up to a certain extent having family-like bonding with the employees works for the business as employees are then willing to help the business sustain and grow.However, when the business starts to expand and diversify, there is a need for strong leadership, the right skill sets, and talented coworkers.
This is when finding high performers becomes a challenge.In order to overcome the challenge, business leaders must be strong-willed and should encourage their employees to perform better from time to time.
Strategy PlanningSME owners may find strategy planning challenging at times.
Since strategy is the base for any business to function smoothly, it is essential to have the plan in place and seek help whenever required.Now, thanks to technology, there are tools that can document single page business plans for the company.
Executing the strategy becomes difficult since there are some situation-based or sudden issues that the business must overcome.Hence, the ideal solution is to break the yearly plan in quarterly plans and ensure that the goals are met accordingly.Systems and ProcessesHaving defined systems and processes is as important for small and medium-sized businesses, as it is for established large organizations.This is what makes the business more productive.
If this is your question, in the prevailing pandemic situation, companies irrespective of their sizes are forced to work on a remote basis evolving varying operational models.
The bigger companies have so far managed to adopt cloud at various levels.However, for smaller businesses, the adoption till date has been very cautious, largely influenced by necessity.
Mostly SaaS is consumed on-demand.
Work spaces can be planned at minimal cost as cloud services can be accessed via internet on any device, not just desktop but also via laptop, mobile, iPad and tablet.
This can be considered a good investment as moving forward the entire maintenance cost will be minimal and the spending towards hardware environment will reduce drastically.
Most of co-workers these days operate at different time zones and getting hands on to latest version of any work is no challenge as it’s readily available on cloud.In terms of security, cloud services are offered at compliance of very stringent rules and regulations to protect users’ data.
According to the new market research report by IndustryARC titled “Blockchain Market in Small & Medium Business: By Product & Services (Exchanging, Trading & Investment); By Provider Type (Infrastructure, Protocol Provider); By Type (Public, Private & Consortium); By Industry (Retail, Healthcare, Transportation); By Forecast (2018-2023)”, the market is driven by the copious benefits that the blockchain technology bestows.To access/purchase the full report, browse the link below:https://industryarc.com/Report/17926/blockchain-market-in-small-medium-business.htmlAmericas holds the largest market share in the Blockchain Market in Small and Medium Businesses Market:North America holds the largest market share and growth in the Blockchain Market in small and Medium Businesses.
Americas region comprises of well-established end user industries which are increasingly employing Blockchain technology for payments, digital identities, and documentation.
This is reportedly driving the market in this region.Selected Value Chain Analysis Done in the Full Report:Blockchain has brought revolutionary changes in SMB (small and medium sized businesses) sector.
With Blockchain technology now traders across the globe got an opportunity to exchange confidential information and other transactional activities in an encrypted and veritable environment.
Trading & InvestmentWhat can you expect from the report?The Blockchain Market in small and medium businesses Market is prepared with the main agenda to cover the Following Points:1.
You can drop an e-mail to [email protected] to learn more about our consulting services.Media Contact:Mr. Venkat ReddySales ManagerEmail 1: [email protected] Email 2: [email protected] Sales: +1-614-588-8538 (Ext-101)About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, and Life Sciences & Healthcare.IndustryARC primarily focuses on cutting-edge technologies and newer applications in a market.