Borzo report backs MSME; highlights sustainability rethink

Borzo data reveals 56% MSMEs reported using sustainable packaging materials. Also customer acquisition, recruitment, packaging, and inventory management has emerged as the top challenges faced by MSMEs. 16% of MSMEs cite customer acquisition as a significant pain point, while 13% struggle with recruitment.

19 Apr 2024 | By Abhay Avadhani

MSMEs cater to multiple cities, with significant shipping volumes within the same city

A report compiled by Borzo (formerly WeFast) that sheds light on the current state of Micro, Small, and Medium-Sized Enterprises (MSMEs) in India. At the heart of the Indian economy lies the Micro, Small, and Medium-Sized Enterprises - MSME segment, playing a vital role in India's overall GDP as a driving force of growth and innovation.

One of the highlights of the report is, since last year, 56% of MSMEs have experienced a business growth of 20-30%, debunking the slowdown debate. According to the Borzo report, the average shipment value of MSMEs stands at Rs 1.4 million per month.

Meanwhile a staggering majority (66.6%) of MSMEs reported using sustainable packaging materials, indicating a growing emphasis on environmental responsibility within the business community. 33.3% MSMEs have not yet transitioned towards eco-friendly packaging materials.

The other interesting insight is how the MSMEs cater to multiple cities, with significant shipping volumes within the same city. Notable smart cities, Tier 2, and Tier 3 cities gaining momentum among MSMEs include Vadodara, Nagpur, Kochi, and Jammu. Diverse product categories such as food & beverages (23.1%), apparels and fashion (13.6%), and pharma are represented.

Borzo (erstwhile WeFast), a global intra-city delivery service, has conducted a comprehensive study aimed at gaining insights into the operational dynamics of Micro, Small, and Medium Enterprises (MSMEs), their pain points, their business metrics and delivery requirements.

As per a Borzo press note, the group is organising Borzo Connect, a large-scale MSME meet in Mumbai on 21 June, 2024. "This event aims to bring together MSMEs and corporations to explore solutions and opportunities in the sector."

Latest Poll

Which is the sustainable packaging product among MSMEs that is most popular?

Results

Which is the sustainable packaging product among MSMEs that is most popular?

Bagasse and biodegradable boxes

 

22.22%

Corrugated boxes

 

44.44%

Paper bags

 

33.33%

Recyclable plastic (bubble wraps, bio-plastic)

 

0%

Total Votes : 9

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