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#Budget2022WithSMEStreet: Food Retail, Technology and MSME Credit Budget Expectations

Here is a compilation of expectations from various industry segments including food retail, technology and MSME lending segment. Stay tuned with SMEStreet for Union Budget 2022 updates! #UnionBudgetWithSMEStreet #Budget2022WithSMEStreet

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Here is a compilation of expectations from various industry segments including food retail, technology and MSME lending segment.
Mr. Farman Beig_Co-founder&CEO, Wat-a-Burger
Mr. Farman Beig_Co-founder&CEO, Wat-a-Burger

Mr. Farman Beig, Co-founder & CEO of Wat-a-Burger
“It takes multiple licenses to establish a food & beverage business in India. We expect the government to address this in the upcoming budget.  Additionally, the sector requires reintroduction of the inputs tax credit. Also, considering the sector has been struggling due to the pandemic havoc, it is necessary to provide it with relief package and special fund allocation for speedy recovery,”

About Wat-a-Burger

Wat-a-Burger, established in 2016 in Noida is a biggest homegrown burger chain of India. In the beginning, the co-founder had just ideas and inspired by them, they decided to take fresh, delicious, and affordable burgers to people. ‘High Quality’, ‘Exquisite’ and ‘Affordability’ work hand in hand at Wat-a-Burger. Being a bootstrapped brand the decision-making power rest with the founder which has brought the brand so far. The brand strongly believes that the match of taste and quality with the price is decidedly attractive and is the true USP.

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Mr. Kushang, Co-founder & CEO of SupplyNote

Mr Kushang Kumar- CO-Founder and CEO- Supplynote
Mr Kushang Kumar- CO-Founder and CEO- Supplynote

The food and beverage industry has incurred heavy losses due to the pandemic, which makes it essential for us to look up to the Union Budget 2022-23 for relief. In order to accelerate the recovery of the sector, this budget should enable interest free loans, greater subsidies, and a reduction in tax structure. Additionally, since most of the F&B businesses fall under Micro and SMB categories they should be offered extended moratorium. Considering the current situation, business losses should be allowed to be carried forward from the existing 8 years to 12 years,”

About SupplyNote

Incepted in 2019, Supplynote is a supply chain automation platform providing SAAS platform to restaurants. Established by the founders- Kushang-CEO, Abhishek Verma-COO, Nitin Prakash-CPO and Harshit Mittal-CTO, the company was started with an aim to provide end to end digitization of procurement process and automation steps like inventory management, ordering, payment ledger management and to solve the supplier/product discovery problems. Over the period the company has witnessed an 150 % of YoY growth. The company is funded by -Sucseed Ventures, Venture Catalysts, CIO Angels,91 Springboard and GHV Accelerator. Supplynote is the second platform in the direction of digitization of supply chain in f&b industry, by the parent company Adcount Technologies. In 2015, the company had launched the platform Adurcup. Including the current fundraise, the company-Adcount Technologies has raised a total of USD 1.6 M since its inception.

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Pre-budget expectations from Mr.Alok Mittal, Co-Founder & CEO, Indifi Technologies. 
 
Indifi Technologies, Series B, Investment
Alok Mittal of Indifi Technologies

“In response to the economic hardship created by COVID-19, several liquidity measures to support the MSMEs were announced. However while the headline schemes were attractive the fine print made it very difficult for the new age fintech NBFCs to take advantage of the schemes. Due to such constraints the expected benefits of these support schemes did not reach/ transmit to the bottom of the pyramid MSMEs mostly catered to by fintechs/ small NBFCs.  This budget must be in pursuit of better implementation of the schemes already in place. Further, the fiscal budget should announce measures to incentivize and strengthen support from SIDBI-like institutions and PSB’s towards lending to smaller NBFCs to ensure credit to SMEs at lower cost of capital.”

About Indifi Technologies
Most small businesses struggle to get a timely loan to grow. Indifi, as a technology platform creating easy loan origination, and leverage the MSME lending segment understanding to create risk models. This brings multiple partners and lenders to fill the credit gap, helping small businesses access unsecured business loans, through a quick and simple process. Indifi has tailored loans for Travel, Hotel, e-Commerce, Restaurant, Trading and Retail businesses.

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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