Getty ImagesBENGALURU: The Global Alliance for Mass Entrepreneurship (GAME) has taken up a three-pronged strategy to improve the financial stability for micro, small and medium enterprises, as these businesses face a working capital challenge due to delayed payments along with the pandemic-induced slowdown.
The alliance, which works with multiple stakeholders and industry bodies to address issues faced by solo, micro, small and medium businesses, is enabling more entrepreneurs to use M1xchange, a platform created by the Trade Receivable Discounting System (TReDS) exchange.
The exchange, which has buyers, financiers and MSMEs on its platform, enables MSMEs to get finances by converting their trade receivables into liquid funds on a without recourse basis. “So far, 15,000 MSMEs have benefited from the platform and we are addressing the issues with all stakeholders to effectively scale its offerings,” GAME founder Ravi Venkatesan said.
The alliance, which works with multiple stakeholders and industry bodies to address issues faced by solo, micro, small and medium businesses, is enabling more entrepreneurs to use M1xchange, a platform created by the Trade Receivable Discounting System (TReDS) exchange.
The exchange, which has buyers, financiers and MSMEs on its platform, enables MSMEs to get finances by converting their trade receivables into liquid funds on a without recourse basis. “So far, 15,000 MSMEs have benefited from the platform and we are addressing the issues with all stakeholders to effectively scale its offerings,” GAME founder Ravi Venkatesan said.