Hopeful small and medium enterprises eye future growth

Mumbai: Small businesses in India maintain a positive outlook on the future in terms of business confidence and employment growth with 48 per cent indicating a positive outlook both for current state of own business and  62 per cent on the future outlook of business. Almost 18 per cent of them traded globally between Oct. 2- Dec. 16 to expand their business online compared to 16 per cent during Feb —July 2016.

Most of them are capitalising on the Digital India opportunities. The Future of Business Survey was developed in a collaboration of the OECD, World Bank, and Facebook. The top business challenges they listed were attracting customers and maintaining profitability. SME’s are known to be the backbone of  job creation. The survey vindicates this with 28 per cent of SMEs showing an increase in number of employees in the last month and 56 per cent expect the number of employees to increase in the next 6 months. The online platform enabled 61 per cent of them to showcase their products and service; 60 per cent advertise to potential customers.