MarketCentral, your companion for limitless online business success!
The MSME Tech Upgradation Scheme: What Does it Mean?
view-point-marketcentral
What’s the News:

On November 19, Union Minister Narayan Rane launched a Special Credit Linked Capital Subsidy Scheme (SCLCSS). This scheme will help MSMEs working in the services sector. With this scheme, MSMEs can meet their technology requirements, and invest in modern equipment, digital commerce, or updated methods of production. Through this scheme, MSMEs can get a capital subsidy of 15% on institutional finance, up to Rs. 1 crore.

What does this mean for MSMEs?
  • Using this scheme, MSMEs can scale up and use better technology. The credit provided by this scheme can be utilized by the MSMEs for new innovation. This will help them become competitive in global markets.
  • This scheme was originally suspended by the government in August 2021, and relaunched in now in November. This tells us that the Government considers the technological progress of Indian MSMEs to be the need of the hour.
How can MSMEs use schemes like these to grow?

The ultimate goal of any MSME should be to self-sustain, grow and scale. This means that MSMEs should look to new ways to expand beyond the local, take charge of new opportunities provided by technology, and adapt to the needs of the market.

  1. MSMEs should innovate collectively. By networking, pooling resources and working together, MSMEs can achieve greater success. Collaborating inside or outside associations will help MSMEs become a larger force, capable of faster changes or adaptations.
  2. MSMEs should digitize smartly. Choosing one-stop solution vendors to provide all their online services and manage their online presence will help MSMEs earn better revenue, grow beyond borders, and improve their customer base.
  3. MSMEs should innovate. By strategically adopting new technology, tapping into niches, or utilizing new methods of credit financing, payments, or delivery, MSMEs can rise above competition to grow quickly. New technology like digital wallets, digital banking receipts, e-Vouchers etc. are still underutilized by MSMEs.
How MarketCentral can help:

MarketCentral is a one-stop solution for MSMEs looking for digital commerce. At MarketCentral, we help MSMEs network and collaborate with each other, as well as put them in touch with associations. Helping MSMEs upgrade to a better online presence, and increasing technological adoption, is the core focus of MarketCentral.

Know more by visit our Help page.

MarketCentral will bring you interesting business stories and Small Business news every week through ViewPoint. Let us know what you think about this article at support@marketcentral.in. For more, you can follow our social media handles below:

Instagram: marketcentral

Facebook: marketcentral

LinkedIN: marketcentral

Popular Articles
view-point-marketcentral

Transport and Logistics Challenges Faced By MSMEs

view-point-marketcentral

The Importance of Digitizing Supply Chains for MSMEs

view-point-marketcentral

How MSMEs Can Grow Sustainably With Three 'R's

view-point-marketcentral

The Importance of Sustainable Growth for Businesses

view-point-marketcentral

4 Customer Retention Strategies for MSMEs

view-point-marketcentral

Customer Retention

view-point-marketcentral

MSME Day 2022

view-point-marketcentral

What is Your Target Market? - Part Two

view-point-marketcentral

What is Your Target Market? - Part One

view-point-marketcentral

9 Ways to Make Your Business Data Safe and Secure Onlines

view-point-marketcentral

9 Ways to Make Your Business Data Safe and Secure Onlines

view-point-marketcentral

Why Automating Your Business Operations Can Make Your Business Smarter and More Efficient

view-point-marketcentral

8 Effective Ways to Drive Traffic to Your Website

view-point-marketcentral

5 Ways to Keep Your Online Business Growing

view-point-marketcentral

What is SEO or Search Engine Optimization, and How Can It Help Your Business?

view-point-marketcentral

6 Tips for Marketing Your Business During Festivals.

view-point-marketcentral

Branding for Small Business - What is It, and How to Do It.

view-point-marketcentral

What is branding and why do small businesses require it?

view-point-marketcentral

Women Entrepreneurship and Women-led MSMEs: Schemes and Benefits PART Two

view-point-marketcentral

Women Entrepreneurship and Women-led MSMEs: Schemes and Benefits PART ONE

view-point-marketcentral

Go Digital, Go Secure: What Does This Mean for MSMEs?

view-point-marketcentral

What is Social Commerce and How Can it Help MSMEs?

view-point-marketcentral

How to implement ISO 9001 for Your Small Business?

view-point-marketcentral

Why is an ISO Certification Important for Your Business?

view-point-marketcentral

Updating Your Financial Operations Can Save Your Business Lakhs of Rupees!

view-point-marketcentral

Keeping Your Business Safe Online: The MarketCentral Way

view-point-marketcentral

Best-Time-for-MSMEs-to-start-digital-marketing.cfm

view-point-marketcentral

The MSME Tech Upgradation Scheme: What Does it Mean?

view-point-marketcentral

5 Ways to Protect Your Data and Build a Secure Online Business

view-point-marketcentral

Customer Experience: 3 Ways for B2B Businesses to Stand Out from the Crowd

view-point-marketcentral

Diwali 2021: 3 Trends in Online Business, E-commerce Inflation, and More

view-point-marketcentral

4 Steps To Guide Your Business-to-Business (B2B) Enterprise Towards eCommerce Success

view-point-marketcentral

What The Facebook, WhatsApp Outage Can Teach Small and Medium Indian Businesses

view-point-marketcentral

E-Commerce Market in India to reach $350 Billion by 2030: What Will This Mean for SMBs?

view-point-marketcentral

50 Lakh MSMEs Have Registered on Udayam portal. Enroll your business today.

view-point-marketcentral

3 Recent Schemes and Funds for MSMEs and What They Mean

view-point-marketcentral

Amul, Parle Among Businesses That Has Cut Supplies to Udaan

view-point-marketcentral

Covid-19 Second Wave: What Can Small and Medium Businesses (SMBs) Learn From It?

view-point-marketcentral

Amazon is Opening Physical Stores. What Does it Mean for Small Businesses?