- Financial Express
More than meets the eye: How fragmented data creates credit models for nano entrepreneurs
Credit and Finance for MSMEs: The success of any economy depends on the success of its small businesses. These businesses are closely entwined with local economies. As small businesses grow, they become the major generators of employment, local development, and general economic expansion India is home to 10 million such small businesses, or nano entrepreneurs — as much as the population of Sweden. If each of these businesses could grow, then the cumulative impact on local communities would be tremendous. But to achieve this growth, nano entrepreneurs need timely access to credit, and this is where the ecosystem is failing. Today only 10 percent of India’s small business owners have access to formal financing.