This week’s edition covers:

Ensure accurate billing for your customers with payment links, automated reminders, and payment collection via multiple modes. Collect payments and make payouts to your vendors, franchises, and employees. All from a single dashboard!

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With more than 77.35 lakh MSMEs registered on the Udyam portal in FY22 alone, the number of people employed by MSMEs too reaches a record-high.

The number of MSMEs registered on Udyam in FY21, coming fresh out of the pandemic, was 25 Lakhs. The MSME sector has not only taken the COVID-19 pandemic in its stride but managed to more than double its upwards trajectory in modern India’s economic landscape.

 The number of people employed by MSMEs has also more than doubled from pre-Covid FY20, the highest in the last five financial years. According to reports from the Udyam portal, Maharashtra MSMEs employ close to 11.23 Lakh, while Tamil Nadu comes a fairly close second with 8.54 Lakh MSME employees.

With more than 63% MSMEs with an e-commerce platform, the need and use of digital tools has “intensified”. Post-pandemic, the use of digital solutions has also become a part of the supply-chain, sales & payment processes.

77% MSMEs in the clothing & apparel sector along with 67% food & beverage MSMEs are now using digital solutions for their operations. 32% petrol/diesel pumps report the use of digital tools for payments, while FMCGs report 27% and Pharmacies report 26% use of digital payment tools.

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