Dear SME friends,
Remember that system of reserve fuel in our good old Bajaj Scooters? It literally stopped to tell you that it is in reserve mode and you need to refuel. Then you turn that valve in reserve mode as a token of acceptance of emergency and it starts again. And you head towards nearest fuel station.And what if you don’t see fuel station till the horizon?
I believe, it has been quite a long since my SME friends have turned the valve in reserve mode.
How long have you been surviving in reserve mode? How far may you go in reserve mode?
In these challenging times, most of SMEs, are fighting price wars to keep operating at least on positive contribution margin to manage fix overhead costs, to minimize the burn or say bleed for survival or existence.
Most of the SMEs have no idea, how long this burn / bleed last?
It is high time for restructuring. I see great difficulty in accessing SME funding from banks and institutions, despite genuine efforts by MSME board. Why?
I see a circle of brokers / gate keepers around the actual lenders who maintain this difficulty.
There are 3 challenges
1. In difficult times, SME owner’s focus is on getting business to keep the show going, he can’t focus on financial matters.
2. He gets too occupied in managing financial uncertainties arising out of extended payment cycle and can’t focus on getting business.
3. When he wins business, his finances are not adequate to materialize the orders.
They becomes desperate and take refuge of one of the gate keeper / broker and is obliged by funds at high cost and brokerage.
Synersoft, being an SME focused technology company, has nothing to do with finance business.
But we owe a lot to SMEs. SMEs are the ones who adopted our disruptive technology BLACKbox, they are the ones who promotedBLACKbox in their fraternity, they are the ones who have crowned us as a technology leader in SME segment.
They have elevated us far beyond the status of a vendor to SMEs. Even banks are now financing BLACKbox procurement. No words can express our gratitude to these entrepreneurs who never give up, however the times are tough.
A friend in need is a friend indeed. It is our turn now.
We have invested in technology for SMEs to apply for unsecured SME finance on which they can directly upload their documents visible to group of lenders. They can access SME funding without any broker or gate keeper with utmost transparency. For SME’s assistance our backoffice will coordinate at no cost.
This is our way to value relationship.
Don’t worry if you are running in reserve mode. Use our Knowledge Center Services for the assistance.