GAME partners with FISME to address MSMEs' concerns about late payments, compliance

Posted under: MSME
Date: 2023-11-09
GAME partners with FISME to address MSMEs' concerns about late payments, compliance

The Global Alliance for Mass Entrepreneurship (GAME) and the Federation of Indian Micro and Small & Medium Enterprises (FISME) have announced a partnership to address delayed payment issues faced by MSMEs, ease of doing business, joint research projects, and arbitration and grievance redressal advisory for small businesses. The partnership will focus on increasing access to finance, scaling existing businesses, and bringing local and national stakeholders onto the same platform. GAME aims to enable an India-wide movement of mass entrepreneurship to grow both existing and new enterprises, resulting in 50 million new jobs by 2030, with women owning 25% of the businesses. The government's Samadhaan portal reports that micro and small enterprises have filed 1.64 lakh delayed payment applications, amounting to Rs. 39,026 crore. GAME has collaborated with SIDBI to launch the NBFC Growth Accelerator Program (NGAP) to support small NBFCs in applying for institutional funding.

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