MSME schemes


Government schemes for MSMEs, the hidden treasure trove not accessed by MSMEs









Over the past five decades, the MSME sector has developed as an agile and dynamic sector of the Indian economy. It significantly helps the country’s economic and social progress by stimulating entrepreneurship and offering many employment opportunities at a lower capital cost. MSMEs serve as auxiliary units to major companies, and this sector contributes significantly to the country’s inclusive industrial growth.

During the pandemic, this segment proved to be the savior for the country and the government by providing employment in the smallest of towns and cities. These businesses or firms have proven to be the real backbones of our economy. The government has clearly decided to bring in the aid required by this segment due to a lack of resources, technology, and senior personnel.

To help them achieve their desired goals, the government offers subsidies, rebates, or counsels these businesses. Some of those MSME schemes are mentioned below:


International Cooperation Scheme

This scheme provides real benefits in terms of financial support for MSMEs to tap overseas markets.

The scheme includes the following offerings:

Funding of International Events participation

3rd party Platforms:

Engagement (as exhibitors) of MSME delegations of industry associations and government organizations involved in promoting MSMEs in international exhibitions, trade fairs, and buyer-seller meet in foreign countries to look for potential export markets, find joint ventures, learn about the latest technologies, etc.

Government of India platforms

: Organizing international conferences, summits, workshops, and seminars in India on topics that are important to MSMEs by industry associations and government organizations. (Physical & Virtual)

Buyer-seller meets:

Organizing mega international exhibitions/fairs/buyer-seller meets conferences/summits/workshops/seminars in foreign countries by the Ministry of MSME and its organizations alone or in partnership with industry associations to promote the MSME sector. (Physical & Virtual)

Ministry-led Industrial Delegations

in International Exhibitions/Fairs/Conferences in other countries.

What is required for the best ERP solution system?

Any ERP solution system must essentially meet the following functional criteria:

It should be a unified system with simple apps and interfaces that interact smoothly across many departments while providing the required regulated access.

A common database (or numerous but shared databases) that can be accessed through many applications

Search and reporting tools must be available to construct reports based on different criteria.

Must be scalable, customizable, and flexibile to easily integrate ad hoc modules as required

The ERP solution system must have the following tools and applications to address the demands of the aforementioned functional criteria:

Tools for Managing Information

The backbones of any enterprise resource planning system are data storage and information management, with a standardized workflow across all departments and tasks.

Apps and UIs with Adequate Access Control

Data management and storage necessitate either read-only or editable access for the data to be processed. Products should be recorded as “ready” in the inventory after they have completed production. It is then marked as “ready for a sale” in the inventory management system. The item’s status has to be changed to “sold” once it has been purchased.

Tool for Managing Workflow

An Enterprise Resource Planning (ERP) system is composed of many modules and data repositories. Here, data updates and activities adhere to a logically defined sequence depending on the requirements of the company. You may think of your workflow as the brain that commands all your bodily processes. Any effective ERP system will have a well-defined process with multi-level access control.

Communication Tools

Communication is a crucial aspect of every system that involves more than one division. ERP services make this easier by providing capabilities like instant messaging, chat, and group broadcasting that are triggered by user actions.

Tools for Analysis

Business intelligence, data mining, predictive analysis, and other related analyses may all be included in an ERP system. Based on the facts at hand, these analytical tools help businesses make informed strategic choices.

Allocation and Scheduling Tools

Tools for dividing up personnel and materials between several projects are another useful feature of ERP systems (for labor-intensive industries). These programs base their operations on comparing the amount of time expected to complete a job or complete a project with the time period in which the necessary resources will be free.


Procurement and Marketing Support Scheme (P&MS)

The Procurement and Marketing Support Scheme includes the following:

Encouraging Micro and Small Enterprises (MSEs) to develop domestic markets and promote new market access initiatives

To make it easier for MSEs to connect with the market so that the Public Procurement Policy for MSEs Order of 2012 can be carried out well

To educate MSMEs on various aspects of business growth

To raise public awareness of trade shows, new market techniques, and other related topics



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SME MATTERS

A knowledge platform for Leaders and Employees of SMEs with curated content specially devised for SME business. Find the latest insights and knowledge here – all in one place. Preparing you for business growth



SME MATTERS


A knowledge platform for Leaders and Employees of SMEs with curated content specially devised for SME business. Find the latest insights and knowledge here – all in one place. Preparing you for business growth