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Adopting digital helped majority of small business survive pandemic

December 28, 2020

Adopting digital helped majority of small business survive pandemic

Adoption of advanced methods for deals helped a dominant part of small companies survive the pandemic, a study directed by rating organization Crisil said. The company polled 566 organizations with a turnover of not as much as ₹25 crores, 60% of them occupied with manufacturing, a month ago to arrive at the findings.

The nation was under a total lockdown for close to two months and is yet to be completely opened with certain limitations still there. Courtesy and the limitations on development, a great deal of shopping moved to online means.

The organization said, “Around 60% of the respondents that progressed to selling through digital platforms said it helped them survive, while the remaining said it gave the growth”.

Around 29 percent of the MSEs (micro and small enterprises) surveyed were utilizing digital deals channels, for example, online aggregators/commercial centers, social media, and mobile marketing, before the pandemic struck.

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