How MSMEs are coping with the plastic ban and other news of the week

On July 1, the Ministry of Environment, Forests and Climate Change issued a notification banning the manufacture, import and sale of 19 plastic items, including spoons, straws and forks. This led to an inevitable drop in consumer demand.

MSMEs from different sectors are not very happy with the ban. The All India Plastic Manufacturers Association said up to 88,000 single-use plastic manufacturing units could go bankrupt as a result of the ban. This will have a negative impact on the economy as the MSME sector contributes 30% to India’s GDP and is the second largest employer in the country. However, some small businesses have turned to alternative means in the wake of the ban.

Coping with the changes that come with the plastic ban isn’t easy, they say. Nevertheless, it is imperative to work in the same direction because plastic has entered our bloodstream according to some research reports.

This week, SMBStoryspoke with ecosystem stakeholders to understand the impact of the ban on small businesses and how they are finding ways to adapt to the new normal.

Read the full story here.

golden hands

Born in Cashmere, Sadaf grew up amidst a plethora of Kashmiri craftsmanship. However, she realized there was a gap when she was buying a particular product.

“My professional journey began with a quest to find the right papier-mâché [box] to store my husband’s cufflinks. But I couldn’t find one that suited my needs. I needed something with compartments, good design and color. In fact, nobody even wanted to personalize it,” says Sadaf, in an exclusive interaction with SMBStory.

In 2015, this lawsuit led Sadaf to take matters into his own hands. She invested Rs 50,000 and launched a Kashmir-based company golden handsa brand that sells handicrafts from Kashmiri, including premixes, shawls, stoles, scarves and utilitarian paper mache items.

The brand is registered under the parent company WIRE Industries Limited. Currently, the Hands of Gold edible range is present online; all other products are available at the Patnitop store. Sadaf says the store generates sales of Rs 25,000 to Rs 30,000 on a good day, with premixes being the best sellers.

Read the full story here.

Don’t miss this week’s expert advice from Tanmay Ayare on how MSMEs can develop long-term customers.

The simple goal is to strengthen business relationships. Communication APIs along with CRMs help businesses stay connected to customers, streamline processes and increase profitability.

A company or brand manages its interactions with its customers using different communication channels, usually by analyzing large amounts of data. This helps in contact management, sales management, productivity, and other areas.

Communicating on different channels, depending on the choice of target audience, allows a company to focus on its relationships with individual people, such as customers, service users, colleagues or suppliers, throughout the cycle. life of the relationship. This includes finding new customers, winning their business, and providing additional support and services.

A brand or company uses Customer Data Platforms (CDP) to bring together information from various tools and sources into a centralized information hub that provides a unified view of the customer.

This is easier said than done, as it is difficult to develop this type of relationship with customers, who increasingly have short attention spans and treat most communications as spam.

But it is not impossible. The solution is to use technology to establish a communication channel that fosters trust. This can be accomplished seamlessly by meeting the customer in their territory, for example via an OTT app/messaging service/preferred communication channel. It might be convenient for them when they are most likely to be open to interacting with the brand over the phone.

Rather than just bombarding customer phones with messages, this type of engagement will turn a simple customer list into customer loyalty. Let’s look at some of the factors that can help you achieve this goal.

Read the full story here.

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