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Starting a business is relatively easy, but the real challenge is sustaining it through the ups and downs and coming out stronger.
SMB story They have not only built a successful business, but also survived tough competition from other players in the market and are growing year after year.
They are, SMB story Covered in the first week of 2023.
Tulsi Tea
Haresh Kathrotiya was a teenager when his father Gordhanbhai Kathrotiya faced a medical emergency. Haresh had to quit his studies to join his father’s grocery store business in Chalala, a small town in the Amreli district of Gujarat.
Apart from regular household items, Gordhanbhai also sold tea leaves sourced from Rajkot and Amreli at its offering outlets.
“We were a small business, but the quality of our tea made a big impact on our customers. Everyone in town loved our tea,” says Haresh. SMB story.
Gradually, as the demand and income of the tea industry increased, Gordambai sought to luxuriate the packaging and increase the penetration of the business in the Amreli district and beyond. But after he fell ill, Haresh took over the reins of his business.
Haresh says he never wanted to work in his father’s environment and wanted to move to a big city and do bigger things.
“I didn’t want to work in a grocery store, but I wanted to move to Ahmedabad or another big city in Gujarat and do something else. When I realized that nothing could be done in my favor, I focused on how we could expand our existing business. I came up with the idea of going into retail in a sensible way,” Haresh recalls.
Started as a small stint by Haresh under a company called GM Tea Packers Pvt Ltd, Tulsi Tea is now the second largest tea brand in Gujarat with a turnover of Rs 185.42 crore after more than 30 years. am. Haresh renamed the brand Tulsi Tea after taking over his father’s business.
Talking about how he grew his business from a grocery store to a tea brand, Haresh said:Dandecajnon (Passion for business)”.
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shosha show
Heena Bajaj Rustagi took a break from her advertising career when her daughter was born in 2015.
She started out as a jewelry reseller and ran her business via Facebook and WhatsApp. She then spent her four years trying to better understand the jewelry market. Finally, she found her true calling in the alleys of Old Her Delhi, lined with shops selling Kundang her jewellery.
“I saw lanes full of traditional Kundan jewellery. SMB storySo she decided to give traditional Kundan jewelry a modern twist and Shoshua was born.
Handcrafted jewelry brand of 2019.
The brand was launched with an investment of Rs 3.5 crore in e-commerce platform Myntra. According to Shoshaa’s founder and CEO, the brand aims to give her traditional Kundan jewelry a modern look and targets women who like to wear different types of jewelry.
Today, the Noida-based brand is expanding and adding new categories and has a turnover of Rs 40 crore. “He wants to end the financial year with 200% growth,” he says.
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MSME profits increase
Nearly 96% of MSMEs in India expect their profits to increase in 2023, according to a study by NeoGrowth Credit. The MSME Business Confidence Survey, which covers more than 25 cities and nearly 70 business segments, reveals that three-quarters of his MSMEs who participated are confident about economic growth in 2023. .
According to the survey, 75% of MSMEs expect consumer demand to surge and 80% of female MSMEs are optimistic about India’s economic growth.
“It is encouraging to see SMEs confident in their growth, profitability and other business metrics. We believe India’s strong digital ecosystem will be a catalyst for MSME financing in the coming year,” said MSME said Arun Nayyar, CEO and Managing Director of NeoGrowth, a focused digital lender.
“Small businesses are leveraging new credit options to easily build and expand their businesses without being hampered by traditional credit underwriting methods,” he said.
According to the report, only 5% of MSMEs are concerned about economic growth in 2023.
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