Enterprise Development can be defined as a process of investment of resources in terms of time, capital, human resource etc. for establishment, expansion or improvement of a business enterprise. This process varies from one enterprise to another. To accelerate and optimise this process, there is a growing need for more and more scale-up engines. These engines can cater to a larger target group and can create a bigger impact. One of the most important engines of acceleration is digital platform. Digital Platform in enterprise development comprises of information, communication and technological tools that enable an entrepreneur to flourish his/her enterprise.

With more than 500 million internet users, India has one of the largest internet using population. This boom in internet usage and wide acceptance of smart phones have together eased the accessibility of various stakeholders involved in the enterprise development process. Digital platforms now cater to entrepreneurs through an array of services. Some of the important services include:

Procurement:

Procurement has been a major pain point for entrepreneurs as purchasing accurate raw-materials and technology demands time and resources. But with the advent of B2B e-commerce platforms like India-mart, power2SME; entrepreneurs can now complete their procurement sitting at their homes, by comparing prices and products of a whole range of manufacturers.

Online government services:

Entrepreneurs can now skip standing in long queues and apply for government schemes online. Also, with initiatives like government e-marketplace, entrepreneurs now have a transparent digital platform where they can sell their products. They can also register themselves online and avoid cumbersome paperwork.

E-marketplace:

Entrepreneurs now have an additional source where they can sell their products. E-marketplaces in the form of e-commerce platforms have provided a special space especially for small entrepreneurs who earlier were unable to sell their products outside their business geography. Also it has provided wings to women entrepreneurs through initiatives like ‘Amazon Saheli’, who now can sell their produce sitting at their homes.

Capacity building and online communities:

Digital platforms can contribute towards capacity building activities at a larger scale with much less resources compared to traditional capacity building set-up. Also, digital platforms can create online communities of entrepreneurs where they can discuss their problems and create networks which can elevate their enterprises.

Online marketing:

With growing internet users, entrepreneurs can market their products online through various online marketing techniques like social media marketing, search engine optimisation, search engine marketing etc.

Financial linkages:

Entrepreneurs can now apply online for finance and credit linkages. Digital platform has given them liberty to choose from an array of financial products provided by various financial institutions and fin-tech companies.

With these services, digital platforms have come a long way from being a trend in enterprise development space to becoming an enabler in creation and expansion of enterprises. In the current context, when we are focusing on ‘Make in India’ and uplifting the micro enterprise sector, it is imperative for us to match global standards and digital platforms can help us do it.

Development Alternative group has initiated the development of a digital platform which will be a portal (in form of both website and app) consisting of three major components - campus, chaupal and bazaar, where entrepreneurs can build their capacities, bridge their information gap, conceptualise their ideas and start their businesses. This platform will be a one stop solution of most of the services listed above solving major barriers that the entrepreneurs face. Also it will provide service providers a focused group of customers, ready to avail their services. With this platform Development Alternatives aims at scaling up the enterprise development process through delivering its services to more than 75000 entrepreneurs and stakeholders by 2022.

Digital platforms are the need of the hour and has enormous potential to accelerate and transform the space of micro-entrepreneurship. It is important for organisations involved in the process of enterprise development to take the lead in adopting digitisation and include it as an integral part of their development strategy for a multiplied impact leading to an ideal ecosystem for entrepreneurship.  ■

Munir Ahmed Tahir
matahir@devalt.org