Imrana’s Insight Podcast Explains Small Business Development Strategy
Highlights
- To foster the growth of SMBs, support is needed from various stakeholders.
- Building better infrastructure, including roads and fast internet, is essential for delivery and communication.
- Special assistance should be provided to women and young entrepreneurs.
- Imrana concludes by stating that SMBs are the backbone of a strong economy.
By Imrana
Beyond just economic figures, Small and Medium Businesses (SMBs) play a crucial role in society. They are major job creators, especially in villages and smaller towns. By supporting families directly and building local economies, they ensure that money stays within communities. Furthermore, SMBs help protect culture by sustaining traditional crafts, handlooms, and foods. Supporting these businesses means supporting the real individuals working to build something of their own.
However, SMBs face substantial challenges in today’s world. Key difficulties include a lack of easy access to money or loans from banks, hindering their growth. Technology problems persist, as many small businesses lack the knowledge to effectively use the internet for selling, despite the rise of online shopping.
They face strong competition from big companies that can offer lower prices. Government rules and excessive documentation can make starting or running a business difficult. Finding skilled workers trained in new technology or software is also a challenge. Other persistent issues include delayed payments from large clients or companies, poor legal support making swift justice hard to obtain, a lack of awareness about government schemes designed to help them, and rising costs for raw materials, fuel, and rent.
[ Also Read: Pathway Small Business Bulletin May 2025 ]
To foster the growth of SMBs, support is needed from various stakeholders. Governments and large companies should make loans easier to get by trusting small businesses and simplifying loan plans. They should offer free or low-cost classes to teach technology usage. Building better infrastructure, including roads and fast internet, is essential for delivery and communication. Special assistance should be provided to women and young entrepreneurs. Promoting local buying can encourage citizens to choose local sellers over large online platforms.
Citizens also have a role to play in supporting SMBs. This includes buying from local shops, sharing information about small businesses on social media, respecting and encouraging entrepreneurs, and avoiding excessive bargaining. Supporting these businesses helps the entire country by creating opportunities, reducing poverty, and fostering development. The youth, with their digital fluency, can significantly contribute by helping small business owners learn online skills like setting up an Instagram page or accepting digital payments. Creating online content to promote local businesses is also suggested.
Success stories of small businesses achieving growth with minimal beginnings provide inspiration and show that success is possible with hard work, support, and the right tools. These stories highlight that starting a business requires a good idea, help, and courage, rather than just wealth.
Imrana’s Insight Podcast: You can click here to listen to the Podcast by Imrana on her Spotify channel. It is also given below.
Additionally, many SMBs focus on local, handmade, and eco-friendly products, which is important for environmental sustainability and cultural preservation, supporting local farmers and workers. The government’s “Digital India” program has facilitated more SMBs going online by expanding internet access and making tools more affordable. However, the need for digital education and hands-on support remains.
Despite technological advancements and government initiatives, fundamental challenges like delayed payments, inadequate legal support, lack of scheme awareness, and rising costs continue to impede progress.
Policies must be effective in practice, not just theoretical. Imrana concludes by stating that SMBs are the backbone of a strong economy, embodying hard work, dreams, and dedication. Supporting them is a collective responsibility. With the right support, training, and respect, SMBs can become even more powerful, truly acting as the real heroes of the economy.
This article and podcast have been produced exclusively for the Pathway platform of RMN Company by Imrana, who is a student specializing in multiple domains such as business, education, technology, and politics. She produces Imrana’s Insight podcast program on diverse topics.
More Articles by Imrana
[ Trump’s Tariff Pause: A Temporary Relief or a Global Trade Warning? ]
