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In a day and age when businesses are facing all kinds of uncertainties due to the ups and downs of the market, Indian <keyword id="44779" type="COMPANY" weightage="20" keywordseo="SMEs">SMEs</keyword> remain hopeful of their near future. Small and Medium-sized Enterprises (SMEs) in India are highly optimistic about domestic economic growth in the next 12 months and are confident about their business performance in 2017, according to the <keyword id="4613360" type="UNKNOWN" weightage="20" keywordseo="american-express-global-sme-pulse">American Express Global SME Pulse</keyword>2 2017, a new survey commissioned by <keyword id="91294" type="CITY" weightage="100" keywordseo="American-Express">American Express</keyword> and carried out by <keyword id="637984" type="ORGANIZATION" weightage="20" keywordseo="Oxford-Economics">Oxford Economics</keyword>. The survey was carried out among senior executives and decision-makers across 15 countries, with the purpose of understanding the priorities and aspirations of the SME community. Companies surveyed form part of India’s mid-market organizations having revenues of up to $90mn, including SMEs. According to the survey, Indian SMEs are more positive about the domestic economy over the next 12 months than their Asian counterparts. Indian led with 71% followed by <keyword id="6355311" type="COUNTRY" weightage="20" keywordseo="Japan">Japan</keyword> at 62%, China at 54%, and <keyword id="6356662" type="COUNTRY" weightage="20" keywordseo="Singapore">Singapore</keyword> at 26%. Interestingly, the confidence of Asian countries is substantially higher than the global average of 45%. In terms of global economic outlook, SMEs in India have higher optimism at 65% than Asian counterparts with Japan at 58%, China at 47% and Singapore at 20%. 

 

 

 

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Healthy optimism about profitability SMEs in India are confident about their ability to deliver increased revenues and profitability. According to the survey, 76% of the Indian SMEs surveyed expect revenue growth of at least 4% in 2017. In terms of profitability, Indian SMEs are similarly upbeat with 45% forecasting a profit of 8% per annum by 2020. This is in excess of the global findings which show 27% of SMEs forecasting net profits of 8% over the same period. While SMEs in India are optimistic about the economy and their own business, they cite domestic policies, uncertain laws and regulations as major concerns over the next year. Optimistic about recent political changes for businesses’ prospects SMEs in India see positive light among the government’s recent initiatives and support to boost the sector. 69% of them feel that barriers to entry are coming down and providing business opportunities. As revealed through the survey, 73% of Indian SMEs responded that recent political changes in the country make them optimistic about their businesses’ prospects. 

 

 

 

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Aim to smoothen business operations through funding options Amongst various sources of funds, Indian SMEs expressed that existing working capital (at 88%) and bank loans (at 77%) are the most readily available; whereas the funds they actually put to use are bank loans (at 62%) and existing working capital (at 49%). Over the next year, Indian SMEs plan to source funds through public equity markets (at 50%) and bank loans (at 46%). In order to streamline their future business financing options, Indian SMEs ranked flexible lending and repayment options (at 37%) as the most important factor and high interest rates (at 49%) as the biggest pain point when applying for business finance. Focus on expansion and sales growth to drive financial performance Indian SMEs are focusing on growth and expansion strategies to improve their financial performance. The survey revealed that 38% of Indian SMEs feel that expansion into new domestic market segments will be a top priority for their business over the next three years. They are also pushing for sales growth with over 35% looking to grow their current market share.

 

 

 

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 Increasing exports part of the growth push Exporting is a core pillar of many SMEs’ growth strategies globally and India is no exception. Almost 32% of SMEs surveyed said they recognize expansion into new international markets as a pathway to improved financial performance over the next three years. Indian SMEs are confident they are ready for export growth, with a sizeable 68% strongly believing their company has the right plans to increase export sales. An overwhelming majority (73%) agree it is easier to access new export markets than it was three years ago. Also, 37% of Indian SMEs said they will be looking at increasing operational efficiency as another key priority for driving financial performance. 

 

 

 

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 Technological investment is the most important priority area According to the research, the majority of Indian SMEs understands the growing importance of technology and wants to make investments in the same. 77% of Indian SMEs felt the importance of applying the latest technology in their businesses over the next three years. Another 71% said that they are developing and implementing innovation to business models, products and services and ways of working. About 62% said they are prioritizing on quickly responding to changing business demands. Understanding the need of being on track with technological advancements, 75% of Indian SMEs plan to use more scalable technology, like cloud based solutions in the next three years. Look beyond the short term As part of the research, top executives in Indian SMEs were asked about the long-term goals of the business. While profit margin growth (51%) and revenue growth (44%) are identified as the number one and two objectives, well over a quarter (29%) state that both sustaining the business for future generations and building company reputation (28%) are important long-term goals.

Indian SMEs confident about their growth in 2017, according to this American Express Survey

Search giant <keyword id="693389" type="UNKNOWN" weightage="60" keywordseo="Google">Google</keyword> is keen to promote the Indian SME segment and plans to get online some 50,000 <keyword id="6375845" type="UNKNOWN" weightage="100" keywordseo="Small-and-medium-enterprises">small and medium enterprises</keyword> in <keyword id="6354766" type="COMPANY" weightage="80" keywordseo="Gujarat">Gujarat</keyword>, by the end of 2014. As part of <keyword id="45395" type="CITY" weightage="100" keywordseo="Google-India">Google India</keyword>’s national campaign called India, Get Your Business Online, this initiative will offer free websites and hosting services to Gujarat-based <keyword id="44779" type="COMPANY" weightage="100" keywordseo="SMEs">SMEs</keyword>, in a bid to bridge the connectivity divide that hinders small businesses from accessing the global market. 
 Google India and HostGator are also involved in a special project in which the partners explored traditional industries like textile, jewellery and artefacts, located in the popular markets of Ahmedabad, Surat, Vadodara and Rajkot. In addition to developing websites for 5,000 small businesses under this project, Google India also created <keyword id="97416" type="ORGANIZATION" weightage="60" keywordseo="Google-maps">Google Maps</keyword> listings and Google+ business pages for these firms. They can also make use of 24x7 customer support to manage their websites and get free online advertising credit that can be used on Google search to promote their businesses online. 
 Commenting on the project, <keyword id="249393" type="PERSON" weightage="80" keywordseo="Rajan-Anandan">Rajan Anandan</keyword>, vice-president and managing director of Google India, said, “The initiative aims to boost the SME ecosystem by giving them a simple, effective and free platform to get their business online. We aim to get 50,000 SMEs online, which will dramatically change the business landscape and opportunities for SMEs in Gujarat. 
 
“Our research has shown that SMEs, who use the Internet, see revenue growth of 51% and raise in profits by 49%. Gujarat already represents 10% of the total Internet population in the country and houses many export-oriented businesses. By being present on the Internet, they can make the world their market and continue to boost the economy of the country,” he added.

Google India
Aims To Get 50,000 Gujarat SMEs Online

<a href="http://www.businessinsider.in/searchresult.cms?query=AskMe">AskMe</a> group has launched AskmeFin as part of the group’s ‘Grow with Us’ initiative. The campaign is aimed at offering working capital loans to <a href="http://www.businessinsider.in/searchresult.cms?query=SMEs">SMEs</a> including short term working capital loans, overdraft limit, loans against receivables and bill discounting facility. 
 
Speaking about these alliances, Mr. Kiran Murthi, CEO, AskmePay, said “At <a href="http://www.businessinsider.in/searchresult.cms?query=AskMe">AskMe</a>, we are committed to help our <a href="http://www.businessinsider.in/searchresult.cms?query=SMEs">SMEs</a> partners to grow their business. The <keyword id="44779" type="COMPANY" weightage="80" keywordseo="SMEs">SMEs</keyword> who are using AskmePay for their offline transactions will also be eligible to avail these financing options.” 
 
The group has announced a handful of strategic alliances to facilitate faster financing for these SMEs, irrespective of the size of their business. It has tied up with Mahindra Finance, Bajaj Finserv, Capital Float, Religare, SMEBank.in and Mandii.com to offer loans ranging from Rs. 50,000 to Rs. 1 Crore available for 15 days to 6 months. This option would add to the existing services from <a href="http://www.businessinsider.in/searchresult.cms?query=AskMe">AskMe</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=AskmeBazaar">AskmeBazaar</a>, AskmePay, AskmeFurniture and AskmeGrocery. 
 
Speaking on the alliance, Mr. R Balaji, Vice President, Mahindra Finance said, “Our financial solutions would be convenient and hassle free and ensure that the SMEs are able to get adequate credit to fuel their growth.” 
 
“We understand the pain-points of small businesses with regards to working capital finance. Therefore at Capital Float, it is our mission to make access to capital easier for <a href="http://www.businessinsider.in/searchresult.cms?query=SMEs">SMEs</a>/MSMEs by leveraging technology and data”, Mr. Gaurav Hinduja, Co-Founder, Capital Float said. 
 
Image credit: Indiatimes

Askme joins
SME race, to finance 14 million sellers with upto Rs. 1 Crore loans

Mumbai, Jan 31 () State-owned Bank of Baroda on Friday said it has signed a pact with Care Ratings to assess credit quality of its small and medium enterprises (SME) customers.
 The rating agency will evaluate the credit quality of existing and prospective SME customers of the bank.
"Our tie-up with Care Ratings will strengthen the evaluation process and enable growth of the SME lending business," Bank of Baroda Executive Director Vikramaditya Singh Khichi said. 
 The biggest challenge for SMEs has been the availability of finance, Care Ratings Executive Director Mehul Pandya said. 
"If they don't receive financial support from banks, they typically tend to fall back on either the promoter's own savings or borrowings from family and friends. We hope that this partnership will help identify businesses that will aid the country's growth story of tomorrow," he said.
Care Ratings will assess the SMEs by processing and analyzing structured, unstructured and new data streams. 
It will also indicate the relative creditworthiness of SMEs based on an eight-point scale, where 1 indicates the highest creditworthiness and 8 - poor creditworthiness. 
"Increased digitalisation of the economy, the availability of new data sources such as the GST, in addition to traditional financial data and non-traditional data sources, allow for new approach for grading of SMEs. This MoU with Bank of Baroda is a step in this direction," Pandya added. HV

 RUJ

Bank of Baroda partners CARE Ratings to assess credit quality of SMEs

Here are some good news for <a href="http://www.businessinsider.in/searchresult.cms?query=small+and+medium+enterprises+%28SMEs">small and medium enterprises (SMEs</a>)! Leading stock exchange Bombay Stock Exchange (<keyword id="35140" type="CITY" weightage="80" keywordseo="BSE">BSE</keyword>) is expecting to have 30 <a href="http://www.businessinsider.in/searchresult.cms?query=initial+public+offerings+">initial public offerings</a> (IPOs) on its SME platform in the next two-three months. 
 This is on top of 17 <keyword id="44779" type="COMPANY" weightage="100" keywordseo="SMEs">SMEs</keyword> already got listed on capital markets with public issues worth Rs. 134 crore in the first five months (April-August) of the ongoing fiscal. 
 
In addition, several companies had launched their initial public offerings (IPOs) last month. 
 Confirming the development, BSE MD and chief executive Ashish Kumar Chauhan said in an event that the total number of <keyword id="6354763" type="EVENT" weightage="100" keywordseo="IPO">IPO</keyword> issues on such platform is expected to be around 100 this fiscal. 
 
These companies are from various sectors including trading, steel, <a href="http://www.businessinsider.in/searchresult.cms?query=manufacturing">manufacturing</a>, textile and <a href="http://www.businessinsider.in/searchresult.cms?query=finance+">finance</a> and are spread across the country. 
In March 2012, BSE and the <a href="http://www.businessinsider.in/searchresult.cms?query=National+Stock+Exchange">National Stock Exchange (NSE</a>) had launched SME platforms, becoming the only two bourses to offer such a segment in the country. 
 
BSE has about 110 companies listed on its SME platform, with a total market capitalisation of over Rs 7,733 crore. This platform has helped the listed SMEs to mobilise over Rs 832 crore. 
 The <keyword id="6354646" type="CITY" weightage="80" keywordseo="NSE">NSE</keyword> has 30 companies trading on its SME platform. The platforms provide opportunity to entrepreneurs to raise equity capital for growth and expansion. It also provides immense opportunity for investors to identify and invest in good SMEs at an early stage. 
 
(Image: Indiatimes)

Cheers to small businesses in India! As many as 30 of these will be cash rich in 3 months

Payment gateways are easy enough to install on your website. Most often, web hosts will provide gateways as additional services. But what do you do when companies have never encountered the digital route? Bangalore-based startup, <keyword id="1898251" type="PERSON" weightage="20" keywordseo="Instamojo">Instamojo</keyword>, is trying to solve that problem. It targets small and medium enterprises (<keyword id="44779" type="COMPANY" weightage="20" keywordseo="SMEs">SMEs</keyword>) by selling what is primarily a payments platform. But unlike regular payments gateways or platforms, Instamojo doesn't have to explain the specifics of its service to them. All it tells these SMEs is that they'll get a link to share with prospective buyers, and get payments directly in their bank accounts. The platform will take a 2%+₹3 cut from each payment. At its core, there's nothing innovative about Instamojo as far as its technology is concerned. But it's presentation is tailored to the target audience, making it simple enough for the non-tech savvy audience to adopt. Having started operations in 2013, Instamojo now has over 4,00,000 SMEs on board. Interestingly, while its sellers come from Tier I and II cities, the buyers are mostly from Tier I metros in the country. How it works Technically, Instamojo can be used by anyone. You sign up on the company's website, fill in pan card, GST and other details are you're good to go. A dashboard is presented to you, that tracks the money you receive. You can push this out to your bank account at any time. The dashboard also has a "Create payment link" button. This is where you create the link, which can be shared through various channels. If you're doing this from a desktop PC, you can use <keyword id="6354576" type="ORGANIZATION" weightage="20" keywordseo="facebook">Facebook</keyword>, email and Twitter. You can share it via WhatsApp and SMS if you're using the Instamojo app on your phone. Doing business After starting with payments, Instamojo also offers a shop option for sellers now. This, again, is basic. It allows sellers to put photos of products they sell, offer discounts, choose sizes (when relevant) etc. It's not a full-fledged e-commerce solution like <keyword id="1715801" type="PERSON" weightage="20" keywordseo="Shopify">Shopify</keyword> but allows just enough for sellers to go digital. This though means that these same sellers may move to more established platforms if Instamojo helps them succeed. And Swain says he recognises that. Yet, he says moving money from <keyword id="58103" type="LOCATION" weightage="20" keywordseo="Itanagar">Itanagar</keyword> to <keyword id="6356654" type="LOCATION" weightage="20" keywordseo="bombay">Bombay</keyword> is no easy task. While he agrees that he's partly in competition with every payments platform in the country, including other payments gateways, he feels his primary competition is with cheques and bank transfers. SMEs in Tier II and III cities do not depend on digital modes very often, and they do not want to pay for services without knowing how they'll help. Instamojo asks for payment only when a sale is made through its platform. Sign-ups are free, as is browsing around and sharing links. You pay money when you make money. After introducing the "shop" feature earlier, Swain is moving to lending next. With this, Instamojo will extend loans to businesses, albeit in smallish amounts. Logistics is another service that's soon to start. Essentially, Instamojo now wants to become a full-service e-commerce solution for SMEs. And all this to achieve its target of getting a million SMEs on the platform by end of 2019. Tough ask. Future Yet, Swain is bullish. Like Google, Microsoft, Amazon and pretty much every technology company, he sees the SME space as an untapped market. While bigger companies could just as easily start the service Instamojo offers, Swain says he’s not worried. He says it’s about getting to a place where “you’re the one to beat if others decide to enter this space”. For him, SMEs represent “middle India”, something between the unregistered businesses and big companies. He says the giants aren’t doing payments platforms or e-commerce solutions with these companies in mind. As a result, he sees the space wide open and says competition will only lead to faster growth. In fact, while he agrees that WhatsApp’s recent entry into payments, and the WhatsApp business platform, will probably take away some of his users, he also expects it to raise awareness. As a result, a full-service platform like Instamojo might start making more sense to SMEs. Lastly, Instamojo also sees data as a possible opportunity. While it is not a consumer-facing company, it still has buyer data, which Swain says can be leveraged in future for better services. Similarly, the current customer base of SMEs can be leveraged in future to create a sort of LinkedIn for this industry.

This Indian startup wants to give small and medium sized businesses all the e-commerce tools they need

We all know of a successful restaurant that starts a second restaurant in another location, and then fails. There are others which go on to become a nationwide chain. What is the difference?
 Every <keyword id="6355515" type="ORGANIZATION" weightage="20" keywordseo="Business">business</keyword> starts small. Most are able to grow and some make it to Rs 10 crores. Some become Rs 100 crore businesses and a smaller number cross Rs 1,000 crore. What allows some to grow faster than others? One of the key areas is the ability to scale.

	When a business is small most of the important information resides in the CEO’s head. As it grows bigger, there is a need for automation, but mostly that is solved by a basic spreadsheet. At the next stage of growth the company invests in financial services software. Unfortunately, for many organisations this is where the journey stops.

	This impacts the ability of the organisation to scale and replicate. Today, even a moderate size business can have over 1,000 transactions per day. It is important to be able to capture this information and retain it, in order to be able to learn from it. Are they repeat customers? Can we give them an incentive to return? There is so much of knowledge buried in the transaction data. In the absence of a data-centric strategy, it is likely to remain a buried treasure. Mr J C Jha, VP Manufacturing, National Engineering Industries comments that “In today’s age of competition it is impossible for our business to run without SAP.”
 So, why do enterprises hesitate to make the leap? In the past, in order to have automation or <keyword id="1027253" type="UNKNOWN" weightage="20" keywordseo="CRM-software">CRM software</keyword> implied a large investment in hardware. The software also required a fixed outlay. More than the investment, many smaller enterprises, more so those outside the metros, were hampered by the lack of skilled technical resources. All of this conspired to keep businesses from unlocking their true potential.

	To quote Mr K L Jain, Secretary General, Rajasthan Chamber of Commerce, “With SAP solutions, Rajasthan state will surely benefit and will also help in further expansion of SMEs.”

	What’s changed? What makes it possible for firms to now cross the IT barrier to grow their revenues 10x? One is that the cost and complexity of hardware has dropped dramatically. The second is the advent of hosted (cloud) solutions. This allows the software to be hosted remotely and also managed easily. These options cut time to go-live and also reduce costs considerably. And added advantage is that cloud solutions are built on a gold-standard process, so just by adopting them you can get a leap ahead in quality of process too.

	Of course, accessibility may still be a concern, which is why efforts such as SAP’s Innovation Express that is completing a tour of 12 cities across 4 states is a great initiative. To quote Mr Arun Kumar Bagaria, Executive Director of Mayur Unicoaters, “We were extremely amazed to see the bus. It really helps to understand the solutions first hand and in such quick time.”

Strengthening SMEs to fulfill their Ambitions.

<ul class="summary-list"><li>This is an excerpt from a story delivered exclusively to Business Insider Intelligence Banking subscribers. </li><li>To receive the full story plus other insights each morning, <a href="https://www.businessinsider.com/intelligence?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=briefing_post&amp;itm_content=top_text&amp;itm_term=bundle_subscription_text_link-young-small-medium-enterprises-are-prime-uk-neobank-targets-2019-8">click here.</a></li></ul>UK small- and medium-sized enterprises (SMEs) are fairly satisfied with their current banking situation, which leans heavily in favor of major incumbents: 88% of financial decision makers at UK SMEs say their main account is with an established high street bank and 86% are either "very happy" or "fairly happy" with the service they receive, per a <a href="https://e.businessinsider.com/click/17672033.7285/aHR0cHM6Ly93d3cuZmluYXN0cmEuY29tL3ZpZXdwb2ludHMvbWFya2V0LWluc2lnaHRzL3VrLXNtZS1vcHBvcnR1bml0aWVzLWNoYWxsZW5nZXItYmFua3M/5d233c18f730436f2414784fBd0f126e2" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17672033.7285/aHR0cHM6Ly93d3cuZmluYXN0cmEuY29tL3ZpZXdwb2ludHMvbWFya2V0LWluc2lnaHRzL3VrLXNtZS1vcHBvcnR1bml0aWVzLWNoYWxsZW5nZXItYmFua3M/5d233c18f730436f2414784fBd0f126e2&amp;source=gmail&amp;ust=1565094254427000&amp;usg=AFQjCNHhuCi2UWIaOrhJbdNn_hCttqYseA">report</a> from Finastra and YouGov. Further, just 29% of SME respondents said their business would be likely to switch its main bank account in the next five years. <div class="KonaFilter image-container display-table float_right no-rightrail"><div><div class="image"></div></div></div>While UK SMEs may seem relatively entrenched with their current banks, there are two potentially lucrative targets for challenger banks:<ul><li>New companies. Among SMEs under five years old, the share of respondents who said their business will switch banks in the next five years swells to 46%. And these younger businesses seem less predisposed toward incumbents: Only 78% of the businesses in this category use high street banks, which, while still high, is a 10-point drop off from 88% overall. For these reasons, new SMEs should be a major target for challenger banks, who could attract them with an easy and fast onboarding process or by collaborating with startup <a href="https://e.businessinsider.com/click/17672033.7285/aHR0cHM6Ly9odWJibGVocS5jb20vYmxvZy90aGUtb2ZmaWNpYWwtbGlzdC1vZi1sb25kb25zLWJ1c2luZXNzLWFjY2VsZXJhdG9ycy1hbmQtaW5jdWJhdG9ycw/5d233c18f730436f2414784fBa9d7c513" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17672033.7285/aHR0cHM6Ly9odWJibGVocS5jb20vYmxvZy90aGUtb2ZmaWNpYWwtbGlzdC1vZi1sb25kb25zLWJ1c2luZXNzLWFjY2VsZXJhdG9ycy1hbmQtaW5jdWJhdG9ycw/5d233c18f730436f2414784fBa9d7c513&amp;source=gmail&amp;ust=1565094254427000&amp;usg=AFQjCNFT28iRHeLGaMfLU3rIuSAL5JzxgQ">incubators</a>, like Techstars or IncuBus, to network with prospective business founders before their companies even get off the ground. As an extra measure, challenger banks could partner with business management services firms to offer both banking services and tools to help new companies get started.</li><li>Companies that have recently switched banks. Twenty-three percent of SMEs said they switched banks in the past year, and these companies show a higher preference for digital-forward services: 17% cite stronger digital or mobile offerings as a reason to switch banks, versus 9% of all respondents who said the same. And 53% of financial decision makers at companies that have recently switched banks said their business would be likely to switch banks again in the next five years, making them ripe for challenger banks with strong digital banking offerings to poach. But this is a double-edged sword: The same propensity that's led recent switchers to change banks in the first place means there's a chance they'll do it again.</li></ul>Some challenger banks are already mobilizing to draw in SMEs and could benefit from focusing on marketing to these target segments:<ul><li>Starling, which launched to single-owner businesses 16 months ago, is <a href="https://e.businessinsider.com/click/17672033.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" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17672033.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&amp;source=gmail&amp;ust=1565094254427000&amp;usg=AFQjCNEnvuEn1fyZ2bzXgtdSw89c59ZqNA">expanding</a> access to its SME account services to companies that have multiple owners. This will give it a larger pool of potential new clients to draw from.</li><li>And Revolut bolstered its suite of business products in all markets with two new types of fee-free business accounts that include features such as multicurrency support, virtual cards, and all-day support. These tools enhance the convenience of the neobank's offerings, which could help it stand out from competitors in the fight to acquire business customers.</li></ul>Interested in getting the full story? Here are two ways to get access: <ol><li>Subscribe to a Premium pass to Business Insider Intelligence and gain immediate access to the Banking Briefing, plus more than 250 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. &gt;&gt; <a href="https://www.businessinsider.com/intelligence?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=briefing_post&amp;itm_content=learn_more_text&amp;itm_term=bundle_subscription_text_link-young-small-medium-enterprises-are-prime-uk-neobank-targets-2019-8">Learn More Now</a></li><li>Current subscribers can read the full briefing <a href="https://intelligence.businessinsider.com/post/young-smes-recent-switchers-are-prime-uk-neobank-targets-hsbc-might-be-gearing-up-for-large-scale-job-cuts-bbva-wise-partner-to-streamlines-smb-banking-2019-8">here.</a></li></ol><a href="https://www.businessinsider.com/intelligence/future-of-fintech?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=finance&amp;itm_campaign=future-of-fintech-2"></a>

Young SMEs and companies that have recently switched banks are prime UK neobank targets

<keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="261" meta.entityid="Sebi">Sebi</keyword>'s whole-time member Ashwani Bhatia on Friday asked chartered accountants to be more diligent while <keyword id="20233802" type="General" weightage="20" keywordseo="auditing" source="keywords">auditing</keyword> companies <keyword id="22260830" type="General" weightage="20" keywordseo="listed" source="keywords">listed</keyword> on the SME exchange platforms. Addressing an industry event of <keyword id="20253262" type="General" weightage="20" keywordseo="CAs" source="keywords">CAs</keyword>, Bhatia said it is important to look at the listed <keyword id="20086849" type="General" weightage="20" keywordseo="SMEs" source="keywords">SMEs</keyword> (Small and medium-sized enterprises) in a more careful way because the same companies will grow to be a part of the main board in the future. "We have seen some challenges there (SME platform). We request you to be extra careful as far as SME IPOs and fundraising are concerned because these small companies will become much, much bigger going forward," the banker-turned-capital markets regulator said. Bhatia expressed satisfaction with the progress of the SME platform, stating that Rs 14,000 crore has been raised by such entities, with Rs 6,000 crore being raised in FY24 alone. He compared the CAs to "doctors", and added that they act as first-level regulators by ensuring orderly conduct of companies. Bhatia said many Sebi investigations and orders, which take over a year to complete, may not be necessary at all if the CAs had done their work more diligently. It can be noted that in March this year, Sebi chairperson Madhabi Puri Buch had flagged concerns around "price manipulation" in the SME platform listings and trading, and asked investors to be cautious. Meanwhile, addressing CAs on Friday, Bhatia recalled the conduct of SBI's past chairman R K Talwar and said that the strength of character of the leader helps create "great institutions". He also said that despite the regulator coming out with regulations to enable delisting, the experience has been the "reverse" with little interest on that front. The whole-time member hinted that the low interest in delisting is due to high valuations, and added that even foreign companies are looking at listing in India. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

You Searched For "SMEs" and got 9 results

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Young SMEs and companies that have recently switched banks are prime UK neobank targets

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