Latest news with #andMediumEnterprises
Business Recorder
3 hours ago
- Business
- Business Recorder
Alibaba.com launches ‘CoCreate Pitch'
KARACHI: a leading B2B e-commerce platform, has announced the newly expanded pitch competition, 'CoCreate Pitch', which will take place at the Company's annual flagship CoCreate event. The competition will allow global SMEs with product dreams to compete for a $1 million prize pool. Selected SMEs and entrepreneurs from Pakistan will have the opportunity to participate in the US event held in Las Vegas from September 4-5, 2025. In addition to the 'CoCreate Pitch' competition, is also introducing CoCreate Europe, which will be held in London on November 14, 2025. Coinciding with World Micro, Small, and Medium Enterprises (MSME) Day on June 27th, this initiative highlights the commitment of to supporting global SMEs. SMEs are actively positioning themselves for new opportunities. During the mid-year stock season, has observed significant momentum in Pakistan, with the number of Pakistani exporters on the platform increasing by 30% year-over-year from April to June. Copyright Business Recorder, 2025
New Indian Express
2 days ago
- Business
- New Indian Express
Dream it, build it
It often starts with a simple idea — a soap handcrafted in a home kitchen, a puzzle designed at the dining table, or a small store on a bustling street deciding to take the plunge online. Ahead of Micro, Small, and Medium Enterprises (MSME) Day (June 27), it's these stories that deserve the spotlight, stories of humble beginnings that dared to grow, adapt, and dream bigger. 'Earthy Sapo started as a passion project, not a business plan,' shares Sheetal Kabra Mohanty, founder of the Hyderabad-based personal care brand. 'When I first began making soaps, I shared them with friends and family and participated in farmers' markets around the city. My goal was simple, to connect with people, understand their skin and hair care concerns, and see if my products could genuinely help. I wasn't in a rush. I spent nearly two to three years just doing that — listening, learning, and gathering honest feedback,' adds Sheetal. What followed was no overnight transformation. Sheetal spent years refining formulations and deepening her understanding of what customers truly needed. 'The response I received was not just positive, it was heartwarming. That's when I began thinking of Earthy Sapo not just as a passion but as a business,' she says. A key turning point came in 2017–18, when a loyal customer encouraged her to explore online retail. 'Amazon was the first e-commerce platform I joined. Their onboarding was seamless, and their vast reach — both across India and internationally which helped me take Earthy Sapo beyond local markets. Their robust logistics, user-friendly tech tools, and deep expertise in online selling made a huge difference. For me, Amazon became the launchpad that transformed Earthy Sapo from a farmers' market brand into one serving customers nationwide and beyond,' she notes.
New Indian Express
04-06-2025
- General
- New Indian Express
Stop harassing Dakshina Kannada Hindu activists, urges Union MoS Shobha
BENGALURU: Union Minister of State for Labour and Employment, Micro, Small, and Medium Enterprises Shobha Karandlaje has urged Justice NK Sudhindra Rao, chairman, Police Complaints Authority, to initiate immediate action to prevent police harassment of members associated with Hindu organisations in Dakshina Kannada. In a letter to Justice Rao, Karandlaje expressed concern over the developments in Dakshina Kannada, where it has been reported that the police under the alleged pressure from the ruling Congress have been systematically targeting and harassing individuals associated with Hindu organisations. Even social workers, traders and ordinary citizens are not spared, she alleged.
Irish Post
28-05-2025
- Business
- Irish Post
Digital commerce body urges government to provide greater support to help Irish SMEs adopt new AI tech
A NATIONAL representative body for the e-commerce, digital and tech sectors in Ireland has called on the government to provide greater support for Irish Small and Medium Enterprises (SMEs) to adopt new AI technology. Digital Business Ireland (DBI) has proposed an allowance that would cover the first year of a business' costs for deploying AI tech. The organisation has also called for the current digital grant scheme for SMEs to be overhauled after claiming less than €30,000 has been allocated from a budget of more €5m since last September. "Digital Business Ireland believes the government can do much more to help Irish businesses accelerate their digital transition and adoption of AI," said DBI national spokesperson DP Fitzgerald. "However, existing supports simply do not go far enough." Invest in tech and training The proposals, aimed at accelerating the digital transition and the adoption of AI in Ireland, form part of DBI's pre-Budget submission for 2026. The organisation has recommended an Accelerated Capital Allowance (ACA) for AI technologies that would cover 100 per cent of a business' AI costs in the first year of deployment of such systems. It suggests the scheme could mirror the existing ACA for green technology and would incentivise Irish businesses to adopt new AI tech to drive greater efficiencies. DBI also believes that the current digital grant scheme for SMEs is insufficient, with the GrowDigital Voucher only offering grant support up to €5,000. It says that in a recent Parliamentary Question, the Department of Enterprise confirmed that the voucher had only 13 applications and six approvals since its launch in September 2024. This amounted to €28,296.50 being given out from a budget of more than €5m allocated at the inception of the scheme. Meanwhile, DBI has called for Increased investment in skills and training courses to further support AI development. It has proposed a minimum of 500 places be designated specifically for AI training courses such as Springboard+, which only had 55 places on offer for AI courses last year. The fourth and final proposal in DBI's submission is the allocation of funding for enhanced advisory and support services for businesses to ensure compliance with digital regulation. Proposals will increase productivity "Our pre-budget submission proposes tangible and constructive measures to support government's ambition to realise the full benefits of digitalisation, including AI," added Mr Fitzgerald. "This in turn will increase the productivity of Irish businesses, and ensure their strategic focus is where it needs to be. "Our proposals are aimed at turbo-charging digital transition and adoption of AI among SMEs — businesses that are the backbone of the Irish economy." Two weeks ago, Deloitte Ireland also proposed a tax credit for businesses investing in AI and digitalisation in its pre-budget submission. The firm said it would apply to expenditure related to the reliably safe development, implementation and use of AI and digitalisation. See More: Digital Business Ireland
Indian Express
26-05-2025
- Business
- Indian Express
NITI Aayog proposes concessional loan scheme for medium-sized firms
A new report by NITI Aayog has proposed a concessional loan scheme for India's medium-sized enterprises, arguing that these firms face higher capital costs than both large and small companies. The report titled 'Designing a Policy for Medium Enterprises' released Monday also called for streamlining research and development (R&D) efforts and expanding cluster-based quality testing to help medium firms scale and become more export-competitive. The latest push to support medium-sized firms with cheaper credit comes after the definition of 'medium' was broadened in the Union Budget 2025. Until April 1, medium enterprises were defined as those with a turnover between Rs 50–250 crore and investment of Rs 10–50 crore in plant and machinery. The revised thresholds—Rs 100–500 crore in turnover and Rs 25–125 crore in investment—have expanded the category to cover more firms. 'Medium Enterprises receive much lesser priority sector loans, compared to micro enterprises. Additionally, the interest rates for Medium Enterprises are on average 4% higher than for larger firms, making capital more expensive,' the report said. It proposed a dedicated financing scheme under the Ministry of Micro, Small, and Medium Enterprises (MSME) to allow medium firms to avail loans at concessional rates, capped at Rs 25 crore, with a maximum of Rs 5 crore per request. The report also suggested launching a medium enterprise credit card with a pre-approved limit of up to Rs 5 crore at interest rates aligned with market rates. From over 6 crore registered MSMEs in India, medium enterprises are only 0.3 per cent, the report said. However, average employment per entity is significantly higher amongst medium firms at 89 people, compared to 19 for small and 6 for micro. Medium firms also account for 81 per cent of all MSME investment in R&D. To boost R&D, the report recommended reserving 25-30 per cent of the Self-Reliant India (SRI) Fund for exclusively financing projects by medium firms. The SRI Fund has an allocated of Rs 10,000 crore from the Centre and Rs 40,000 crore from private equity. Since its launch in 2021, a total of Rs 4,885 crore has been invested in MSMEs. 'Adopt EU type funding mechanism in which the government after due process will identify a set of major R&D gaps and invite proposal from the Medium Enterprises to bridge those gaps,' it also said. On quality testing, the report noted key challenges faced by medium enterprises. 'Limited access to affordable, sector-specific testing facilities forces them to rely on distant or private testing centres, increasing operational costs, certification delays, and barriers to global market entry,' it said. It recommended extending the Micro & Small Enterprises Cluster Development Programme (MSE-CDP)—which, among other benefits, provides access to shared testing infrastructure—to medium enterprises as well. At the report launch, NITI Aayog's Vice Chairperson Suman Bery said focussing on skilling and medium enterprises together is crucial. 'On the labour market side, we need to make the transition from informal employment, which is typically associated with micro and small enterprises, to formal employment, associated with the medium enterprise sector. It is with formal employment that firms get an incentive to invest in the training of their workforce,' Berry said. The report by India's apex public policy think tank noted that the availability of skilled labour in India stands at 55 per cent, compared to 88 per cent in South Korea, 85 per cent in the United States, and 81 per cent in Japan. The report recommended real-time skill mapping via the MSME Sampark Portal, expanding skill development schemes like the Entrepreneurship and Skill Development Programme (ESDP), and introducing subsidized, customized training programmes aligned with technology trends. Aggam Walia is a Correspondent at The Indian Express, reporting on power, renewables, and mining. His work unpacks intricate ties between corporations, government, and policy, often relying on documents sourced via the RTI Act. Off the beat, he enjoys running through Delhi's parks and forests, walking to places, and cooking pasta. ... Read More
