Forbes India Small Business Summit: Sparking big futures for Bharat's small enterprises

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Published: Aug 19, 2024 06:00:12 PM IST

Updated: Sep 11, 2024 11:27:26 AM IST

As India strides towards becoming the world's third-largest economy by 2027 and a developed nation by 2047, the role of small businesses has never been more crucial. With a vision of achieving a sustained economic growth rate of 6.5% by 2027 and an 8-9% annual expansion for 2047, the contribution of Micro, Small, and Medium Enterprises (MSMEs) is pivotal. These enterprises are not only the backbone of the Indian economy, contributing 30% to India’s GDP and 43.6% of merchandise exports but also the lifeline for nearly 123 million people employed in this sector.

Despite their significant contributions, MSMEs often struggle with critical challenges, particularly in accessing finance and leveraging technology. According to the Confederation of Indian Micro, Small and Medium Enterprises (CIMSME), the sector faces issues such as a lack of credit history, inadequate collateral, and high interest rates, which hinder access to financing. Additionally, many MSMEs are not fully aware of the technological advancements and government schemes available to support them. By addressing these challenges and enhancing access to financial resources and technology, MSMEs can unlock new growth opportunities, innovate more effectively, and contribute even more substantially to India's economic ambitions.

In this dynamic and unfolding landscape, Forbes India Small Business Summit presented by PhonePe PG is set to be a ground-breaking conclave and a premier platform dedicated to deliberating solutions that can take the small businesses of Bharat to the next level. This event aims to become a launch-pad for solutions, ideas, innovations, and collaborations that will propel small businesses into the future.

Catalyzing Change for India's Emerging Entrepreneurs

The Forbes India Small Business Summit brings together an extraordinary clique of policymakers, technology innovators, entrepreneurs, and industry leaders, to explore and empower the next wave of small business success. This high-decibel gathering is designed to help small businesses and seed-funded start-ups navigate the complex economic and business landscape with confidence and foresight.

Strategic Themes to Drive Expansion and Success

The Summit will focus on four key themes that are crucial for driving the growth of small businesses. First, it will celebrate the power of innovation by exploring the latest technological advancements that can elevate businesses to new heights. In the realm of finance, it will also discuss streamlining financial transactions, choosing the right partner to handle your online payments, and other related topics. Government support will also be a major focus, with discussions centered around unlocking the potential of policies, schemes, and frameworks designed specifically to support small businesses. Finally, the Summit will emphasize talent development by crafting strategies to attract, engage, and retain the best minds in the business world.

Pre-Summit City Huddles

While the grand finale will take place in Delhi, as a prelude to the Summit, Forbes India will host SMB Huddle events across four vibrant cities – Chennai, Pune, Lucknow and Indore. These city-specific sessions will offer a deep dive into local opportunities and challenges.

What to Expect at the Forbes India Business Summit

The Summit will be replete with an engaging line-up of interviews and panel discussions, featuring some of the most influential voices in the industry. At the same time, it promises a rich array of networking opportunities, allowing attendees to connect with ecosystem stakeholders and collaborate on ingenious ideas.

Gathering of Innovators and Leaders

The summit is designed for a diverse and dynamic audience, including business leaders and tech visionaries, entrepreneurs from SMEs, MSMEs, freelancers, and the gig economy. It also caters to investors and strategic stakeholders, small business owners, aspiring start-up founders, industry professionals, and passionate side hustlers eager to make their mark.

This transformative event is conceived as the biggest breakthrough for small businesses in Bharat. Offering a unique platform to engage with thought-leaders and visionaries who are redefining the future of India's small business landscape, Forbes India Small Business Summit presented by PhonePe PG stands at the forefront of India's entrepreneurial revolution!

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