The Covid-19 pandemic altered the world in more ways than one. The crisis precipitated an economic downturn that revealed the vulnerabilities in many businesses. The Indian MSME sector, for instance, is still reeling from the consequences of the coronavirus outbreak.
Despite a bleak outlook, this unprecedented situation became a catalyst for change. At Vendo, we were excited to play our part as stakeholders in spurring innovation among MSMEs or small businesses, which will play a crucial role in reviving the economy. We are proud to have collaborated with The Selco Foundation to help in rebuilding micro enterprises. The ‘Resilient Microbusinesses Program 2020’, executed and managed by Selco Foundation, focused on providing interventions to micro & nano enterprises in Karnataka and Tamil Nadu.
In a bid to boost small businesses, entrepreneurs based in tier 2 and tier 3 cities and those with a turnover of less than Rs. 10 lakh per annum were encouraged to apply to the programme. Special consideration was given to women-owned businesses.
Once onboarded, the Foundation provided implementation support ranging from Rs. 20,000 to Rs. 2 lakh per annum. Vendo, as an implementation partner for this initiative, provided the entrepreneurs with mentorship support to help them reimagine and implement their business practices in the new normal. Through this partnership, both organizations strengthened their commitment to MSMEs.
At Vendo, we draw on our expertise in branding and micro enterprise training to help businesses in their transformation journeys. We assist them in achieving digital enablement by encouraging entrepreneurs to explore online market channels and expanding the digital footprint of enterprises that already have an online presence.
We focus on 1:1 engagements and spend the first 2-3 hours by virtually engaging with these entrepreneurs on the different aspects of brand building. We help them understand their customer base better and provide support in creating their first-ever creative and marketing collaterals. We engage with the entrepreneurs in regional languages and use byte size videos to support the training. Apart from helping them create a brand identity, we also set up necessary digital enablement and communications.
Ultimately, we drive actionable outcomes by helping these entrepreneurs implement solutions suited to their business needs. The time is ripe for reimagining small businesses, as CoViD-19 continues to wreak havoc . Vendo is happy to have associated with The Selco Foundation team to provide accelerated support to MSMEs in their path to transformation.