BSE on Wednesday partnered with enterprise-to-enterprise information provider Dun & Bradstreet Information Services India to enable the upcoming and at the moment listed modest and medium enterprises and startups on BSE SME and Startups platforms. According to the tie-up, announced by Dun & Bradstreet (D&B) on Wednesday, SMEs and startups will get access to D&B’s options to make their credibility each domestically and globally, discover and access prospective purchasers and enterprise partners, and get customized education and certification programmes to enable far better navigate by means of enterprise challenges. D&B will also share its SME database and clientele with BSE for latter to develop awareness amongst SMEs and startups about the rewards of listing.
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“This collaborative effort will enable SMEs and startups who are currently listed on BSE SME & Startups platform, or expected to be listed, to avail of Dun & Bradstreet business information services at a special price, that will not only strengthen their credibility but will also expand the scope of business opportunities for them. The current economic situation may propel more SMEs and Startups to avail of these services in order to further improve their businesses,” stated Ajay Thakur, Head-BSE SME & Startups in a statement.
BSE became the initially stock exchange to get approval from SEBI and had launched its SME platform on March 13, 2012. So far 337 providers listed on the BSE SME Platform have raised Rs 3,498 crore from the industry whilst the total industry cap of 337 providers as of May 12, 2021, stood at Rs 25,137 Crore. 99 providers have currently migrated to BSE Main Board.
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“In India financial literacy is still less and therefore most of the SMEs have not been able to understand the benefit of equity funding. In 2012 when the SME platform was launched, most of the market intermediaries were not so comfortable and people didn’t have confidence in its success as we have the precedent of failure of OTCEI,” Thakur had told TheSpuzz Online in an interaction in April this in response to a query on the BSE SME’s efficiency so far.
“Our recent survey conducted in the last quarter of 2020 reveals that the three topmost challenges that might impede SMEs to scale up their businesses are market access (42 per cent), improving the overall productivity (37 per cent), and access to more finance (34 per cent). By working with BSE, we expect to play a pivotal role in enabling the eco-system required to accelerate SME growth,” stated Avinash Gupta, Managing Director & CEO – India, Dun & Bradstreet in the statement.