MSME Growth & Funding Post COVID -19 Discussed in a Webinar

SMBConnect organised a webinar on “MSME Growth and Funding Post COVID-19” on 25^th June, 2020 to educate MSMEs about various funding opportunities made available by the Indian government and what needs to be done to spur growth in the post-pandemic world.

The economic repercussions of COVID-19 pandemic have dealt a crushing blow to the MSME sector, causing widespread unemployment and business closures. The SMBConnect webinar sought to outline strategies and best practices for MSMEs to remain solvent and emerge stronger post pandemic.

The webinar commenced with a welcome note by Raj K Pathak, Chairman- WeStartup Association and keynote address by Piyush Srivastava, Additional Development Commissioner, DCMSME; and concluded with a vote of thanks by Sunil Kumar, Asstt. Director, MSME DI, Karnal.

Shri Piyush Srivastava, ADC, DCMSME, emphasised how Govt is supporting the MSME sector with multiple funds and credit schemes, he also asked MSMEs to make India Atamnirbhar and produce goods that match international standard.

Emphasising on ‘Liberalised Working Capital Assessment (LWCA)’ Scheme, Hema Chopra, AGM, SIDBI said ‘LWCA will go a long way in helping MSMEs avail additional finance to cope with the current crisis. The terms of the scheme are very liberal and there is no requirement of collateral security.”

“Immediately after the imposition of country-wide lockdown, SBI launched Common COVID-19 Emergency Credit Line. The scheme allows beneficiaries to avail funding up to 10% of the total working capital limit to meet the emergency finance requirements.” said O P Chaudhary, DGM, SBI.

Sanjeev Chawla, Director, DC MSME highlighted the role of CHAMPIONS platform in helping MSMEs in terms of finance, raw materials, labour, permissions etc.

“MSMEs are facing the severe brunt of economic shock triggered by coronavirus pandemic and as a platform dedicated to the growth and empowerment of MSMEs, we, at SMBConnect, have been organising a series of multi-faceted webinars to help them tide over the crisis. This webinar aimed at helping MSMEs deal with liquidity issues and capture growth opportunities in the new normal”, said Sandipan Ray, Founder and Director, SMBConnect.