Business & Policy | News & Insights

Revolutionizing MSME Growth: The Impact of Event Platforms

Published: October 12, 2023

(Nitika Shahi Founder and Director of Summentor Pro)

Event platforms have emerged as powerful tools in the modern business landscape, offering many opportunities for Micro, Small, and Medium Enterprises (MSMEs) to thrive. In an era where digital transformation dictates the pace of business, these platforms provide MSMEs with unparalleled access to markets, networking opportunities, and knowledge resources that were once reserved for larger corporations. Event platforms are revolutionizing how MSMEs operate, compete, and grow in a dynamic global marketplace by bridging gaps, fostering collaborations, and amplifying visibility.

The Growth Potential of MSMEs in India

MSMEs are essential for India's economic development. They account for a substantial portion of the country's industrial output and exports while providing employment opportunities to a large population. Despite their importance, many MSMEs struggle to scale up due to limited resources and a lack of exposure to potential customers and investors.

Event Platforms: A New Avenue for MSMEs

Event platforms have emerged as a powerful tool for MSMEs to break through these limitations
and unlock their growth potential. These platforms serve as meeting grounds for businesses,
entrepreneurs, investors, and other stakeholders. They offer a wide range of benefits that can
revolutionize the way MSMEs operate and expand:

1. Networking Opportunities:
Event platforms allow MSMEs to connect with a diverse range of stakeholders. Whether it's
potential customers, investors, suppliers, or industry experts, these platforms facilitate
meaningful interactions leading to collaborations, partnerships, and business growth. Leading
event platforms like Summentor Pro organize market-leading events, exhibitions, award shows,
and conferences to provide relevant business opportunities for MSMEs.

2. Exposure to a Wider Audience:
One key challenge MSMEs face is reaching a broader customer base. Event platforms enable
them to showcase their products or services to a larger domestic and international audience.
This exposure can lead to increased sales and brand recognition.

3. Access to Funding:
Securing financial support is a common hurdle for MSMEs looking to expand. Event platforms
often host pitch sessions where entrepreneurs can present their business ideas to potential
investors or lenders. This avenue can significantly improve the chances of securing much-
needed funding.

4. Knowledge Sharing and Learning:
Events hosted by these platforms often include workshops, seminars, and panel discussions on
various business-related topics. MSMEs can gain valuable insights, learn from industry experts,
and stay updated on market trends, enhancing their competitiveness.

5. Creation of a Socio-economic Brand
Event platforms play a pivotal role in creating a socio-economic brand by offering a space for
brands to engage with their audience, showcase their values, and drive economic activity. Event
platforms drive economic activity by attracting sponsors, vendors, and attendees. This can lead
to increased sales plus the creation of a good socio-economic brand.

6. Collaboration of B2B and B2G Platforms
The combination of B2B (Business-to-Business) and B2G (Business-to-Government) marketing
can play an important role in fostering the growth of MSMEs Event platforms help in B2B
collaborations that facilitate direct interactions between businesses, enabling MSMEs to
expand their market reach, access new supply chains, and streamline operations.

On the other hand, they also help in B2G marketing that provides MSMEs with opportunities to
engage in government contracts, access public sector projects, and benefit from government
incentives and support programs.

The Impact on MSME Growth
The impact of event platforms on MSME growth in India has been substantial. MSMEs that
leverage these platforms effectively have reported increased revenues, expanded customer
bases, and access to new markets. Additionally, they have forged partnerships with larger
enterprises, creating a win-win situation for both parties.

In conclusion, event platforms have revolutionized the growth prospects of MSMEs in India. By
providing networking opportunities, exposure to a wider audience, access to funding, and a
wealth of knowledge-sharing opportunities, these platforms have become a lifeline for small
and medium-sized enterprises. As the Indian economy continues to evolve, the role of event
platforms in supporting MSME growth is set to become even more critical, ushering in a new
era of prosperity for these enterprises and the nation.

Related Posts