India is among the top three fastest growing Internet markets in the world as stated by industry body Assocham and ComScore. “Among the BRIC nations, India has been the fastest growing market adding over 18 million Internet users and growing at an annual rate of 41 per cent.”
The report further suggests that internet users in India are expected to touch 350-450 million by 2015-16 and this will act as a catalyst in the growth of SMBs.
There are some major advantages that work for Small Scale enterprises:
- They can respond to the market needs and wants easily.
- Small business entrepreneurs can establish personal relationships with their customers which results in greater accountability and maturity.
- Independence is another advantage of owning a small business.
- Small business owners have the satisfaction of making their own decisions within the constraints imposed by economic and other environmental factors.
However, entrepreneurs have to work for very long hours and understand that ultimately their customers are their bosses.
Working on my commitment to aid the small businesses to thrive in the era of high-competitiveness, here are some ideas that clicked for businesses in 2013, you could incorporate them too to your strategy and grow by leaps and bounds: Continue Reading