According to an online survey of 150 MSMEs across the nation conducted by the MSMEx
, a walloping 70% report crippled operations due to the second wave of COVID.
Is there a silver lining to this dark cloud? 4 out of 10 MSMEs have not only survived but thrived by adopting digital solutions for their operations and making adjustments to their business model.
Asset-light models and easily managed cash flow are the pre-requisites for survival in a post-pandemic economic landscape, deduces Amit Kumar, CEO and Co-Founder MSMEx.
With 56% of the surveyed MSMEs strengthening their digital marketing and payment strategies, and 42% hoping to address delayed client payments, a robust online billing and payment solution is the need of the hour.