Bombay Stock Exchange (BSE) has signed a Memorandum of Understanding (MoU) with Dun & Bradstreet Information Services, to create an ecosystem for promoting, aiding and fostering the growth of Small and Medium Enterprises (SMEs) in the country. Through the partnership, the duo plans to help SMEs in India increase their visibility, expand access to global markets, find potential customers, uncover new suppliers and channel partners, manage risk and identify growth opportunities.
Dun & Bradstreet Information Services is a leading global provider of B2B data, insights and AI-driven platforms.
Ajay Thakur, Head-BSE SME & Startups, said, “This collaborative effort will enable SMEs and Startups who are currently listed on BSE SME & Startups platform or expected to be listed, to avail of Dun & Bradstreet business information services at a special price, that will not only strengthen their credibility but will also expand the scope of business opportunities for them. The current economic situation may propel more SMEs and Startups to avail of these services in order to further improve
their businesses. This MoU will help both BSE and Dun & Bradstreet to reach to maximum SMEs across the country for offering their products which will be beneficial to them and bring growth in their business. This will also create inclusive growth and employment in the country."
Avinash Gupta, Managing Director & CEO – India, Dun & Bradstreet said, "In India, more than 99% of businesses belong to Micro, Small and Medium category and 94% of them are unorganized. Our recent survey conducted in the last quarter of 2020 reveals that the three topmost challenges that might impede SMEs to scale up their businesses are Market Access (42%), Improving the Overall Productivity (37%) and Having Access to More Finance (34%). By working with BSE, we expect to play a pivotal role in enabling the ecosystem required to accelerate SME growth and help achieve the government GDP contribution target of 50% of GDP by FY 2025.”
In its regulatory filing, BSE highlighted that the new partnership will provide Indian SMEs with access to Dun & Bradstreet’s suite of data and analytics solutions via the BSE SME & Start-up Platform. Products like the Dun & Bradstreet D-U-N-S RegisteredTM Solutions and Credibility Reports (self credit) can help MSMEs build credibility both domestically and globally. Other products like D&B iAccess and D&B Hoovers can help SMEs find and access potential buyers and business partners around the world to drive sustainable growth with Dun & Bradstreet’s leading data and analytics. Dun & Bradstreet India will also partner with BSE to provide customized training and certification programs to help SMEs better navigate the ever-changing global business environment.
Also, Dun & Bradstreet India will share their SME database and clients with BSE so that BSE can approach these SMEs and create awareness about the benefits of listing on the BSE SME Platform. As a combined effort, BSE and Dun & Bradstreet India will jointly organize events to create awareness about their respective products and services among SMEs.
At around 1.27 PM, BSE was trading at Rs755 per piece down by 0.3% on NSE.