SMBs are top job creators in India
Even as layoffs and downsizing continues to hit the news, a new report has shown that Small and Medium Businesses (SMBs) in India have clocked a 60% year-on-year surge in hiring. The report, from professional networking platform Apna, shows that small business hiring has risen in tier 1 and tier 2 cities like Delhi-NCR, Mumbai, Bengaluru, Pune, Ahmedabad and Jaipur.
As tier-2 cities become epicenters for job opportunities, the landscape of job-seeking in India itself will see a new change. With 40% of total jobs coming from Bhopal, Indore, Bhubaneshwar, Ranchi and Kanpur, SMBs are becoming an integral contributor to the growing Indian economy. In the festive season alone, 2 lakh jobs were created by SMBs.
Festive season also saw a surge in job creation, led by SMBs. On average, 4000 jobs were posted a day.
Jobs increased in sectors such as telecalling, BPO, telesales, front desk as well as in hospitality, beauty and wellness, delivery, and logistics. The beauty and wellness industry has seen a surge of 65% growth in employers while logistics and delivery industry recorded a 21% increase in number of job applications. E-commerce, food and hospitality, and related sectors created a large number of jobs and hired maximum professionals in the festive season.
Online business is playing a key role, and SMBs are matching up to go digital.
As customers move online, so have a number of SMBs. To keep pace with growing business and expanding markets, SMBs are adopting digital tools in their daily activities with clients. More than 80% SMBs are using business email across the world. India leads the usage of Whatsapp at 72%, and online marketplaces (44%). In India 80% of all payments are also being accepted digitally, with 83% SMBs agreeing that digital presence is the key to survival in a new market affected by Covid-19, economic inflation, and layoffs.SMBs have to turn towards ways to grow sustainably
Future-proofing business is the way to keep the momentum going on growth. SMBs understand this, turning towards digital modes of logistics and payment, offering workplace flexibility, and including work-from-home opportunities to their job listings. With large sections of India’s populace upskilling digitally, the SMBs offering good work-life balance is attracting several job-seekers.
In 2022 alone, SMBs created 2.1 million jobs. What’s in store for 2023? We’re excited to find out. Happy New Year!
How to Keep Your Business Safe From Future Shocks: https://www.marketcentral.in/market/viewpoint/45/make-your-business-safe-from-future-shocks
The importance of sustainable growth for businesses: https://www.marketcentral.in/market/viewpoint/36/importance-of-sustainable-growth-for-business
At MarketCentral, we equip small and medium businesses with simple resources and tools that can help them be in control of their own business. With a no-commission model, MarketCentral can be the perfect business companion for your digital journey.
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 email@example.com. For more, you can follow our social media handles below: