D&B will also share its SME database and clients with BSE for latter to create awareness among SMEs and startups about the benefits of listing.
BSE on Wednesday partnered with business-to-business data provider Dun & Bradstreet Information Services India to help the upcoming and currently listed small and medium enterprises and startups on BSE SME and Startups platforms. According to the tie-up, announced by Dun & Bradstreet (D&B) on Wednesday, SMEs and startups will get access to D&B’s solutions to build their credibility both domestically and globally, find and access potential buyers and business partners, and get customized training and certification programmes to help better navigate through business challenges. D&B will also share its SME database and clients with BSE for latter to create awareness among SMEs and startups about the benefits of listing.
“This collaborative effort will enable SMEs and startups who are currently listed on BSE SME & Startups platform, or expected to be listed, to avail of Dun & Bradstreet business information services at a special price, that will not only strengthen their credibility but will also expand the scope of business opportunities for them. The current economic situation may propel more SMEs and Startups to avail of these services in order to further improve their businesses,” said Ajay Thakur, Head-BSE SME & Startups in a statement.
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BSE became the first stock exchange to get approval from SEBI and had launched its SME platform on March 13, 2012. So far 337 companies listed on the BSE SME Platform have raised Rs 3,498 crore from the market while the total market cap of 337 companies as of May 12, 2021, stood at Rs 25,137 Crore. 99 companies have already migrated to BSE Main Board.
“In India financial literacy is still less and therefore most of the SMEs have not been able to understand the benefit of equity funding. In 2012 when the SME platform was launched, most of the market intermediaries were not so comfortable and people didn’t have confidence in its success as we have the precedent of failure of OTCEI,” Thakur had told Financial Express Online in an interaction in April this in response to a question on the BSE SME’s performance so far.
“Our recent survey conducted in the last quarter of 2020 reveals that the three topmost challenges that might impede SMEs to scale up their businesses are market access (42 per cent), improving the overall productivity (37 per cent), and access to more finance (34 per cent). By working with BSE, we expect to play a pivotal role in enabling the eco-system required to accelerate SME growth,” said Avinash Gupta, Managing Director & CEO – India, Dun & Bradstreet in the statement.