Meta unveils plans to train 10 M Indian SMBs!

Happy New Year from the Swipez family! Here’s the latest projections, news, and updates to get you started this year.

This week’s edition covers:

Meta Platforms Inc., or as we formerly knew them, Facebook unveiled the new Center for Fuelling India’s New Economy (C-FINE) in Gurugram. The first of its kind in Asia, Meta aims to provide training to 10M SMBs and mentorship to 250K creators through C-FINE in the next three years. 

Entrepreneurs, artists, community leaders, and small business owners are to receive guidance in technologies like AR and VR and their creative applications in commerce, healthcare, education, and more. 

Meanwhile, Reliance announced its upcoming integration of JioMart with the Meta-owned instant messenger WhatsApp. The partnership aims to help 60M+ small businesses in India transition seamlessly into the digital world. 

To know more read…🧐🔎

With Omicron cases rising, the pressure intensifies for MSMEs. Contact-heavy businesses like restaurants, markets, malls, theatres, etc, suffered losses due to the restrictions imposed ahead of the New Year’s celebrations. Losses that are unlikely to be recovered in the short term. 

While the unprecedented pandemic disrupted cash flow systems of supplier and customer credits, MSMEs adapted in order to survive. The previously used 30-45 day credit system was replaced by a 15-day limit with many asking for post-dated cheques. With the rapid surge of Omicron cases, MSMEs report a growing sense of volatility and vigilance. 

Moreover, MSMEs along with major firms and conglomerates are back to the drawing board with their return to office strategies.

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