Amazon Business, a platform that provides purchasing solutions to exclusively businesses has jumped into the MSME craze, and thus has launched “MSME Accelerate”, an event that will run till June 20th 2020.
There have been some quite unforeseen things that have happened this year in India. The arrival of the new decade came with riots. By the time riots were starting to subside, we were hit by COVID-19, a pandemic that’s limping the nation. However, in midst of all this, hope came into the picture in the form of 20 Lakh Crore stimulus package. 3 Lakh Crore of that amounts is now dedicated towards the MSME loan, making them more relevant again.
What is MSME Accelerate?
As the businesses are now struggling more than ever, their finances are in shambles. It’s the governments order for these businessmen to insist their employees to work from home and considering the amount of extra work and money that goes into that, many Micro, small and medium Enterprises are now closing. However, for those who can manage, and can persevere through this pandemic turmoil, MSME accelerate is a solution.
As the needs of the world and the workers have changed in this pandemic, MSME accelerate is here to provide an adaptive solution. It’s a program that will feature a selection of products, deals and discounts that are specifically sold at a discount to MSMEs.
How many products is the MSME accelerate program planning to feature? Well, there are millions of products and there are 3.7 Lakh sellers who are currently providing the discounts under MSME accelerate.
Accelerating Opportunities for both Buyers and Sellers
If you should know one thing about this program, it’s that that the MSMEs are on the both the side of the spectrums. Not only is the program offering the MSME buyers a discounted way to retain their businesses during this time, it’s also providing the sellers with a way to sell their products in bulk. Among the already existing MSME benefits, program “accelerate” can be a huge deal, even though it’s only for a limited time.
What is an MSME?
MSME is a collective term given to Micro, Small and Medium Enterprises. How they these three entities are separated is based on their annual turnover and their invested capital. As per the new definition of MSME in 2020:
- Micro enterprise is the one where there is investment of INR 1 Crore and turnover is of INR 5 Crore.
- Small enterprise is the one where there is investment of INR 10 Crore and turnover is of INR 50 Crore.
- Medium enterprise is the one where there is investment of INR 50 Crore and turnover is of INR 250 Crore.
How to become an MSME?
MSME is just a category that your business is put into as per the stated criteria. However, to recognized, the MSME requirements to follow aren’t many. All you need to do is to get the Udyog Aadhar Registration number.
For a dwindling business, even Amazon is stepping up. Can we consider it a masterstroke? Well, when you think about the timing and the need, it’s definitely one. MSME accelerate won’t only help the MSMEs retain their business during the pandemic, but it will also offer options to find more businesses to sell to. That said, none of it can be gained without MSME registration, the process of which is known by us, and can be completed for you at an affordable price. So, don’t wait, and accelerate.