How supply chain financing can empower small businesses during festival rush

Posted under: MSME
Date: 2023-08-30
How supply chain financing can empower small businesses during festival rush

The economic turmoil caused by the recession and exacerbated by the COVID-19 pandemic has left a lasting impact on businesses worldwide. Among those hit hardest are small businesses, which are grappling with lost sales and dwindling working capital, according to Meta's ‘Global State of Small Business Report’ over 20,000 small businesses globally. Beyond the pandemic's aftermath, small businesses now confront additional adversities, including supply chain disruptions, geopolitical uncertainties, inflation, and soaring energy and production costs. With the festive season fast approaching, small businesses are bracing for an important juncture. The festive season is a crucial period for businesses as more than 70% of SMB owners anticipate generating more than half of their annual revenue during the festive months. This surge in demand results in a need for increased production volumes, extended credit terms, and complexities in inventory management.

Read more at: yourstory.com