The Secrets of Success for Small & Medium Business – Season II” successfully hosted its Sixteenth event on 17^th December’ 2013 at Alka Hotel Udaipur in association with, Small scale Industries Associations Udaipur, Chemical manufacturing Association, Gudli chamber of commerce and industries, Kaladwas Chamber of Commerce along with Reliance Commercial Finance a division of Reliance Capital, Bharti Airtel, Bank of India, BSE SME.

The Forum was inaugurated by Y .S Singhvi, President, Small Scale Industries Association, S.L.Chelawat, President, Gudli Chamber of Commerce and Industries, Suresh Jain, President, Udaipur Chemical Manufacturing Associations, Manoj Joshi, President, Kaladwas Chamber of Commerce, Sushma Morthania Director General India SME Forum and Vinod Kumar Country Head SDRC &Honorary VP, India Sme Forum.

The Forum brought to light the problems and issues of the Udaipur SME’S as cited by the President Small Scale Industries Y .S Singhvi that Udaipur Industries need support in terms of schemes and facilities that will be lucrative to meet the needs of the small industries in Udaipur.

He further stated that the circumstances have created a paradoxal situation in Udaipur with the many watch manufacturing companies being forced to close down as the Chinese imported watches and other products have lured the traders and market in a big way. If the Chinese goods will invade the small industries there is a fear that it will cause many small businesses to close down and the SME sector will be affected.

Multiple discussions brought to light the issues and problems faced by the SME sector of Udaipur mainly lack of infrastructure and inadequate basic facilities which has lead the sector’s growth to slowed down and collapse.

It was highlighted in the forum that an organized market needs to come up and working capital mechanisms needs to be regulated .

The reasons for decline in the growth of SME Sector in most places including Udaipur can be attributed to hardening of interest rates, inflationary pressure and rising input costs,” both domestic as well as international factors and also huge imports from China that has killed the domestic product demand.

It was learnt at the seminar that there is no proper channel of disseminating the information schemes and policies to the SME’s so how will they improve their capabilities to be competitive. It was pointed out by the President Gudli Chamber of Commerce and Industries S.L. Chelawat that it is very important for the SME’S to know and learn the development of the Sector in general at the national and global level both as they should be aware of the global scenario of Small and medium business scopes.

Sushma Morthania Director General of India SME Forum said that in terms of knowledge the Indian SME’S are ignorant of the developments happening around the world which is also one of the many factors of not being able to offer innovative products to the market.

There is need to educate the SME’s through various channels of information about the developments through Newsletters, journals, easy-to-read expert articles, websites and there is a need to conduct regular workshops on monthly or bimonthly basis to elevate the knowledge levels of the SME’S and help them to be fully equipped become Smart and well learned about the factors that are important to grow in their businesses.

Unfortunately most persisting constraints facing the sector include poor non-availability of loan finance; low levels of technology; inadequate physical and economic infrastructure till today which needs to be looked at seriously by all financial institutions and policy makers.

Nimish Pareekh, Head –Risk Containment Unit& Policy –Reliance Commercial & Home Finance SMEs generally face more difficulty accessing credit than larger firms due to their opacity (i.e. lack of an agency credit rating, or unavailability of relevant financial information),. For these reasons, governments and other policy makers, are trying to sought and alleviate SME credit constraints.

He further stated the aim of this seminar was to disclose the available policies with regard to Small businesses which should come out as an initiative to strengthen state-based programmes of lending to small businesses, and significant tax relief for small businesses.

India SME Forum continues to build a chain of information and knowledge channel across the country by conducting such enlightening forums for the small and medium entrepreneurs. The next forum of Secrets of Success will be conducted in Chennai on 7^th January at Hotel Le Royal Meridian

To attend the Secrets of Success forums Enterprenures can Register by calling on (0)8080661661 or can log in on ISF Website www.indiasmeforum.org or through Facebook.

No Registration Fee!! India SME Forum invites Eligible SME’s to take full advantage of this opportunity and register to attend the forums in the respective cities details can be checked on the website