Ease of Doing Business for MSMEs: Industry body Bombay Chamber of Commerce and Industry (BCCI) on Monday announced a collaboration with not-for-profit Wadhwani Foundation’s SME initiative Wadhwani Advantage to launch a consulting, networking and learning initiative SME GrowthDrive. The programme aims to help 2,000 SME members of the chamber grow from 2x to 10x. “This initiative will select and prepare SME entrepreneurs and top Management to be, hungry-for-growth, willing to professionalise and committed to learning,” said BCCI in a statement.
Sandeep Khosla, Director General, BCCI said to support 2000 SME members in their (post-Covid) recovery process, the Bombay Chamber has initiated multiple projects, leveraging its strong membership base of large corporations who can provide their expertise in guiding SMEs.
“Our partnership with the Wadhwani Foundation is a step towards supporting our SME members,” Khosla said.
Speaking about the collaboration, executive vice president of Wadhwani Advantage, Samir Sathe, said the programme will blend empowerment, consulting and practical hand-holding support alongside solving issues of knowledge, time, talent and funds for the small business.
With the partnership, Wadhwani Advantage will set up a Programme Management Office (PMO) to run the initiative through structured and sustainable support to the identified SMEs for the programme. The interventions have been designed to meet both their immediate and long-term goals.
Furthermore, the programme will provide the selected SMEs of BCCI with resources including consulting productised tools, content assets and a network of advisors, in addition to the existing expert committee services of the BCCI. The company will also provide their community platform to the members to facilitate interactions with the stakeholders, BCCI said in the statement.
Also, SME members will be given a subsidy on the fees charged by the advisors.
Chair of the MSME Committee at BCCI, Rajan Raje, said that the chamber has realised the need to support MSMEs that play a vital role in improving the economy, with necessary skill sets. The chamber’s member businesses will be able to leverage the experts of the Wadhwani Foundation, he added.