Mark Leon Goldberg: [00:24:20] Beyond just individual-to-individual giving, that micro lending model, it seems that the great white whale in all of this is unlocking access to capital for small and medium enterprises. These are companies, corporations, sometimes formal, sometimes informal, that make up most of the economic activity in emerging economies, particularly in sub-Saharan Africa. It’s like something like 40-50 percent of the GDP of sub-Saharan Africa comes from small and medium enterprises. [00:24:52][31.9]
Mark Leon Goldberg: [00:24:54] I was reading a World Bank report the other day saying that there is an unmet need for capital amounting to over five trillion dollars for Small and Medium Enterprises in the developing world. And the fact of the matter is it’s just very hard in many cases for small and medium enterprises to get traditional loans. And if they are able to get traditional loans, the fees are the interest rates are usually extremely, extremely high. So could you foresee a situation or a future in which hese enterprises have access to capital through decentralized finance and through these decentralized banking systems that cryptocurrency enables? [00:25:39][44.8]
Garry Golden: [00:25:40] Absolutely. For me, that would be stage two, right? Stage one is that it feels good. It’s the again, the decentralized keep a model peer-to-peer, and that can really change lives. But stage two is large, institutional money that wants to find yield that wants to find growth can now say, “Look, we haven’t been operating in certain regions of the world because the cost of kind of customer acquisition is so high. We can’t verify that this person that has a small business actually owns the land that they own, the equipment that they that their books are valid.” The cost of that acquisition is very high. It will take time, but it is so clear to me that stage two is the decentralization of larger loans, larger financial solutions. So I would see the SME financing coming not from individuals, but from larger bank traditional banks that are seeking growth in these regions. [00:26:50][70.0]
Mark Leon Goldberg: [00:26:52] This is enabled because of the verification that the technology provides, you mentioned land titles, presumably, land titles or some things that could be digitized and verified across blockchain. [00:27:06][14.2]
Garry Golden: [00:27:09] Yeah, and this is this is a current focus of different communities and particularly in Africa to be able to empower individuals to verify that they own their property, which again allows them to then take out loans that allows them to prove that property is a major use case and focal point right now. [00:27:34][25.1]
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As far as outlook, Indian little and medium-sized undertakings (SMEs) are known to be intense, topographically differentiated, imaginative and frequently arrangement driven organizations with the constancy important to break global markets.
An as of late distributed report from EY states that SMEs represent 45 percent of India's aggregate assembling yield and utilize around 40 percent of its workforce.
Job of SMEs in the Indian Economy
India's undeniably youthful populace is relied upon to convey a huge statistic profit.
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small medium enterprise examples are small or medium-sized businesses that are defined differently in different countries.
Every country provides different specifics for the defined size of SME.
It varies from country to country and some set of characteristics.SalezShark Connect+ is a pioneer of high-quality data which has introduced the latest technologies like artificial intelligence to aid SME companies.
It ensures small medium enterprise examples that the given data is well researched and highly accurate to help every company to grow its network all around the globe.
Recognizing the importance of SME growth in the post-demonetization era, the government has started some new business loan schemes and boosted other existing ones.
Micro-units Development and Refinance Agency (MUDRA) is an organisation established by the government of India to provide business finance to micro-business units.
Since small companies and startups are often left to their own devices for financing their venture, the government has created the concept of low-cost credit to such undertakings.
However, for all credit facilities above ₹ 10 lakhs and up to ₹ 1 crore only primary security or mortgage of land and building associated with the building is obtained and such eligible accounts are covered under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
Under the marketing support, funds are given to SMEs for enhancing their competitiveness and the market value of their products and services.
The technological upgradation can be related to numerous processes within the organization, such as manufacturing, marketing, supply chain etc.
