Decoding Government Policies for Accelerating Skill Development for India's Startups & SMEs
The recent Union Budget 2024-25 has cast a spotlight on skilling India's workforce. For SMEs, the engines of our economy, this is more than a headline – a lease of life for the sector that has been weathering storms from demonetization to the K-shaped recovery post-COVID. As a mentor and a marketing agency to several startups/ small businesses, I see this as an opportunity for them to thrive in the competitive market.
SMEs, often overlooked amidst the glamour of large corporations, form the bedrock of India’s economic landscape contributing a substantial 30% to our GDP. Yet, the persistent challenge of finding skilled talent due to outdated education and rapid changes in technology has hampered their growth.
Here’s how the new budget along with other government initiatives will now impact the sector:
Skilling the Workforce: A Boon for SMEs
PM’s Package - A Step Towards Inclusivity
- Government’s one-month wage subsidy for new entrants in all formal sectors aims to target 210 lakh youth. The phased wage payment up to ₹15,000 will incentivize youth to join smaller firms, giving SMEs access to fresh talent without immediate financial strain. This scheme benefits SMEs more than large entities by providing them with immediate access to affordable and skilled labor.
- What can an SME/ small business do? Actively recruit young talent, especially those eligible for the wage subsidy. This will help reduce the time and resources spent by the enterprise to train fresh talent and also support them with a subsidy.
Bridging the Skill Gap
Skilling Programme: Aligning Education with Industry Needs
- The initiative to skill 20 lakh youth over five years and upgrade 1,000 Industrial Training Institutes will directly address the skill gap that many SMEs face. Small businesses often lack the resources to conduct extensive training programs, unlike large corporations that can afford in-house training facilities. By absorbing skilled talent, SMEs can look forward to reducing training costs and learning curve, while also having access to fresh talent.
- What can an SME/ small business do? Add ITIs around you to your recruitment source. Recruit workforce that's industry ready.
Women Empowerment in the Workforce
- Facilitating higher participation of women through working women hostels and creches is a commendable move. We know that organisations with women in managerial roles tend to perform better. For SMEs, this also means a more diverse and stable workforce. The presence of support systems like hostels and creches can help SMEs retain talented women, leading to a more inclusive work environment and high performing organisation.
- What can an SME/ small business do? Actively work on gender diversity for future recruitment and educate their current women workforce about these government schemes.
Financial Support: The Lifeline for SMEs
Credit Guarantee and Mudra Loans
- Enhancing the credit guarantee scheme and increasing the limit for Mudra Loans under the ‘Tarun’ category to ₹20 lakh will provide much-needed financial support to SMEs. This liquidity infusion will help SMEs recover from economic shocks, expand operations and invest in growth initiatives as against constantly struggling for credit lines. SMEs/ startups should make the most of it by applying for these loans to strengthen their financial position and accelerate their growth story.
- What can an SME/ small business do? Focus on maintaining regular records to improve credit worthiness and apply for the above schemes.
Internship Opportunities: Building Future Leaders
Internship Programme for Youth
- Providing internship opportunities in 500 top companies to 1 crore youth over five years is a strategic move. For SMEs, this creates a pipeline of trained interns who can transition into full-time roles ,a luxury often more readily available to large entities.. The monthly allowance and one-time assistance funded through CSR will make internships more accessible, benefiting both the interns and the SMEs that host them.
- What can an SME/ small business do? Develop well-defined internship programs that offer hands-on experience and opportunities for skill development & employer branding.
Why These Enhancements Matter More for SMEs and Start-ups Than Large Entities?
- Access to Skilled Labor: These Skilling initiatives provide SMEs with a steady stream of trained employees, reducing the time and cost associated with training new hires. This is vital for their growth and operational efficiency, as well as for optimising resources.
- Cost Reduction: Financial incentives for hiring and skilling reduce the overall labor costs for SMEs, allowing them to invest more in other areas of their business.
- Economic Competitiveness: Government-led skilling helps level the playing field for SMEs, allowing them to innovate and compete with larger firms, thereby contributing more effectively to economic growth.
The Road Ahead: Challenges and Opportunities
While the budget presents a promising roadmap, challenges remain. Ensuring the quality of skilling programs, matching skills with industry needs, and simplifying the loan process are crucial. SMEs also need support in adopting technology and digital marketing.
The budget is a positive step, but it’s just the beginning. By capitalising on these opportunities and addressing the challenges, SMEs can transform from survivors to thriving enterprises.
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Umanshi Marketing Wraps Up Q1 with Over ₹1.5 Crore in New Contracts
25 Jul 2024, Mumbai: Umanshi Marketing, a full-service marketing & PR agency catering to startups and SMEs, announced a stellar performance in the first quarter of 2024, securing over ₹1.5 crore in new contracts.
This growth underscores the agency's commitment to deliver impactful marketing solutions that align with the client’s business goals and drive results.
The contracts encompass marketing services ranging from branding, PR and digital marketing services designed for businesses aiming to accelerate their growth. Some of the new clients that Umanshi has onboarded include:
- Anthem Biosciences, Bengaluru-based drug researcher and manufacturer
- Brick&Bolt, a Bengaluru-based tech start-up disrupting the construction and real-estate space
- Shavo Technologies, a Pune-based precision engineering company
- FootSecure, a Bengaluru-based start-up focusing on podiatry services and custom footcare products
- Decorati, an Indore-based OEM of handcrafted luxury glassware
- Chirag Carriers, a Mumbai-based road transportation company
“We're exhilarated to welcome these visionary companies on board,” says Tamanna Gupta, Founder, Umanshi Marketing. “The journey from understanding their unique business needs to crafting a roadmap of possibilities that goes beyond vanity marketing metrics was exciting. We now look forward to co-achieving their business goals such as creating a category, earning credibility, crafting a distinct identity and having their stories resonate with the world.”
In just under 5 years, Umanshi has established itself as a formidable partner for ambitious businesses. The collective efforts of Umanshi's PR arm, complemented by its digital and branding divisions, have played a pivotal role in not only co-achieving client growth ambitions but also in significantly broadening Umanshi's customer base, particularly within the startup and SME landscape.
"Onboarding Umanshi for their PR services marks an exciting new chapter for FootSecure. Their quick understanding of our sector and seamless integration with our team has been impressive. We are looking forward to their expertise in category creation and thought leadership to enhance our brand's message and visibility. We are impressed with the involvement of the leadership team at every stage,” says Dr. Sanjay Sharma, Founder, FootSecure.
Mohit Maheshwari, Chief Growth Officer, Brick&Bolt says, “We reached out to Umanshi with our problem statement to help accelerate Brick&Bolt’s brand and communication efforts in our key geographies. We were very impressed with how the team approached the problem and the clarity they had in their pitch. We are looking forward to working very closely with the Umanshi Team on augmenting our communication efforts to solidify our position as India’s No. 1 tech-enabled construction company.”
By the end of FY 2024-25, with the fast-growing client base, Umanshi aims to achieve a 300% revenue growth target. Umanshi caters to rising businesses that demand pithy marketing approach with deeper involvement of senior team members, ensuring strategies are executed to bring the desired results. It is not a surprise then that Umanshi is pioneering the ‘agency as an in-house CMO’ concept by serving as an extended marketing arm for brands in the startup and MSME sectors. This focused approach has not only helped the agency to disrupt the market but also reinforces Umanshi's commitment to delivering indispensable support to businesses navigating these competitive landscapes.
About Umanshi Marketing & Branding:
Umanshi Marketing & Branding is a full-stack agency specialising in startups and SMEs with a network across 22 cities nationally. Its comprehensive range of services includes brand positioning, brand identity design, PR, events, digital marketing, marketing strategy and more. Its mission is to empower startups, SMEs and social enterprises with insightful marketing tools to help them make the exponential leap from the local to the global stage. Umanshi Marketing is a winner of the several prestigious awards such as Economic Times Kaleido Awards 2024, International Brand Equity Bharat Startup Awards in partnership with the MSME Promotion Council in the categories of Startup Marketing Agency of the Year 2022-23, Innovative Service for the Year 2022-23, the Fractional CMO & Mentor of the Year (West India) 2022-23.
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Umanshi Marketing announces ambitious growth plans on fifth anniversary
Aims to triple its revenues while expanding its presence with physical offices across the country.
Mumbai: Umanshi Marketing, a full-service marketing and PR agency known for ROI-driven solutions reveals ambitious plans on its fifth anniversary. Umanshi has demonstrated rapid growth with a remarkable 34 percent CAGR in the past five years. Going forward, the agency aims to double its team size and physical presence while focusing on tripling its revenues and expanding service capabilities.
Umanshi Marketing, the brainchild of IIMB alumna, Tamanna Gupta, was formed with the vision to democratise marketing for small businesses. As an outsourced marketing team, Umanshi offers comprehensive solutions including brand strategy, public relations, social media management, full-funnel marketing, and website development. Speaking about her vision and the winning features of the agency that helped it grow consistently, Umanshi Marketing founder and director Tamanna Gupta said, “In our early years of working with start-ups & small businesses, we realised the significance of identifying their core business challenges and designing solutions to make a real difference to their universe. We do not chase superficial metrics like the number of followers or share of voice. This remains our mantra even today as we work with prominent brands across sectors. And as we continue to focus on purpose-driven growth, we aim to triple our revenues and double our team size in the next 5 years. We are also looking at establishing our physical offices in Gurgaon, Bangalore and Hyderabad to stay closer to our clients.”
Apart from their business-centric strategies, another key differentiator that has fuelled the organic growth of Umanshi is the hands-on approach of its leadership team and their investment in customer success. They work as in-house CMOs gunning to achieve the business goals of the client. Their case studies are a testament to this approach. One such success story is that of the transformation of an insurtech firm's sales strategy across channels driving a 125 per cent revenue increase leading to its acquisition. For a D2C startup in a new category, Umanshi helped them revive dormant customers digitally, resulting in a phenomenal 520 per cent boost in customer lifetime value.
Another success story for Umanshi boasts of their expertise in the employer branding segment. The agency’s PR campaign helped a Polish IT giant to register a 500 per cent increase in hiring applications and a 280 per cent increase in acceptance of offer letters in under two months.
Looking ahead, Umanshi isn't just driven by growth but by purpose. Speaking about what excites her the most as a marketing professional, Ms. Gupta added, “While scaling up to serve industry giants, Umanshi will continue to stay true to its commitment to help small businesses, especially start-up and second or third gen run, ensuring brilliant ideas and innovations aren't stifled by lack of marketing muscle. We are excited to leverage our expertise to empower the next generation of small businesses and passionate entrepreneurs.”
Umanshi’s portfolio boasts of over 120 clients across 55 sectors. It has doubled its team size and established itself as a prominent player in the industry with a proven record for ROI-driven strategies and flawless execution. Its client repertoire includes brands such as Liladhar Pasoo Group, Farmdidi, Ionage Technologies, KLT Automotive, SOUL, Flexibees, Mapro, SME Corner, Celcius Logistics, ForMen, Lingaro and Apeiro Energy. Additionally, the agency has been instrumental in nurturing and guiding more than 165 early-stage startups through various incubators and accelerators such as AIC ISB, IIT Bombay SINE, IIMB NSRCEL, Upaya, World Resources Institute and others.
Umanshi Marketing wins PR and Mar-comm mandates of 5 new businesses
Umanshi Marketing and Branding proudly announces the onboarding of 5 clients solidifying its sectoral position within the startups and SME space. Its appointment as their strategic partner responsible for spearheading the comprehensive PR and/or marketing initiatives underscores Umanshi’s growing influence and expertise within the startup and SME category. These newly onboarded clients include:
- Ionage Technologies, a Bengaluru-based India’s unified EV charging platform,
- School of Ultimate Leadership, an Ahmedabad-based educational startup focusing on global ethical leadership,
- FarmDidi, a Pune-based food tech startup empowering a million rural women,
- AviruPro Educational Consultants, one of the fastest-growing ed-tech and coaching startups,
- Lingaro India, the recently launched Indian arm of a Poland-based IT giant
Umanshi Marketing is entrusted with the mandates to steer these entities towards their distinct business goals ranging from category building to new market entries, crafting brand positioning, enhancing employer branding, orchestrating successful product launches, fostering revenue growth and/or championing investor advocacy. Umanshi’s multi-faceted approach underscores its prowess in delivering innovative PR and marketing solutions geared to yield impactful results for brands.
Varun Chandran, Co-Founder of Ionage, lauded Umanshi’s approach, stating, “We firmly believe that to achieve widespread acceptance and create awareness about EV charging, a strong brand positioning is crucial. Team Umanshi’s strategic approach is helping us build trust and establish ourselves as a reliable provider. We look forward to this collaboration.”
Arjun Varadraj, Co-Founder, AviruPro added, “ArivuPro has chosen to partner with Umanshi Marketing in our strategic growth initiatives because their expertise resonates with our ambition to scale and establish a significant market presence. Umanshi’s data-centric approach aligns with our vision to make informed decisions, tailoring our marketing efforts to the nuanced behaviour and patterns of our target customers. Their comprehensive suite of marketing strategies is exactly what we need to elevate our brand and ensure that we not only gain visibility but also achieve sustainable success and recognition in a competitive landscape. We believe this partnership will be a cornerstone in our journey towards reaching new heights.”
The expansion of the client base is a notable achievement for Umanshi as it inches towards its ambitious goal of 300 per cent revenue growth by the end of the fiscal year 2023-24. Speaking about the spate of wins, Tamanna Gupta, Founder, Umanshi Marketing said, “Catering to different brands from identifying their needs to crafting unique strategies juxtaposing with their distinct life stages, has been an exhilarating as well as humbling experience. We are excited about the prospect of co-achieving the growth ambition of these remarkable businesses. We won’t stop at accomplishing the committed outputs but work relentlessly towards fuelling their success stories.”
Clearly, this thought is reflected in the enthusiastic support that Umanshi received from Manjari Sharma, Founder, FarmDidi, “Most of the third-party PR and marketing agencies are typically very transactional in how they operate. It is always about the scope of work with limited accountability. Being a startup I was looking for someone who can hustle along with us, who is very close to the team and looking for wins like us. With Umanshi, it never felt that there was a different company in another universe! It always felt that there is my team who is working toward our goals!”
In just under 5 years, Umanshi has been instrumental in nurturing growth and enhancing visibility for clients spanning across 40+ industries. The collective efforts of Umanshi’s PR arm, complemented by its digital and branding divisions, have played a pivotal role in not only co-achieving client growth ambitions but also in significantly broadening Umanshi’s customer base, particularly within the startup and SME landscape.
Umanshi Marketing & Branding is a full-stack agency specialising in startups and SMEs with a network across 22 cities nationally. Its comprehensive range of services includes brand positioning, brand identity design, PR, fractional CMO, digital marketing, marketing strategy and more. Its mission is to empower startups, SMEs and social enterprises with insightful marketing tools to help them make the exponential leap from the local to the global stage. Umanshi Marketing is a winner of the International Brand Equity Bharat Startup Awards in partnership with the MSME Promotion Council in the categories of Startup Marketing Agency of the Year 2022-23, Innovative Service for the Year 2022-23, the Fractional CMO & Mentor of the Year (West India) 2022-23.
Umanshi Marketing & Branding Aims for 300% Revenue Growth
Umanshi Marketing & Branding, a full-stack agency focused on Startups and SME segments, proudly announces its ambitious goal of revenue growth of 300% by the end of the fiscal year 2023-2024. Building on its success of serving over 40 industries in just 4 years since its inception, Umanshi aims to further expand its offerings of the ‘Outsourced Marketeam’ to cater to the distinct needs of the SME & Startup segments.
In its ambitious quest to drive revenue growth, Umanshi has outlined a strategic vision to leverage its profound understanding of SME and Startup segments. Recognising the crucial role of effective communication and brand promotion, in today’s hyper commoditised, attention-deficit world, where small businesses are struggling to grow & engage with internal/external stakeholders, Umanshi aims to invest significant resources into augmenting its PR and Marketing verticals. It plans to target key sectors that are experiencing significant growth and disruption. These sectors include Education & Edutech, Healthcare & Healthtech, Travel & Tourism, Real Estate, Logistics & Supply Chain Management, and the Green sector. By focusing on these industries, Umanshi intends to leverage its expertise and offer tailored marketing & PR strategies that address the unique challenges and opportunities within each sector
“We are thrilled to announce our goal for a 300% revenue growth by the end of the fiscal year,” said Tamanna Gupta, Founder and CEO of Umanshi Marketing & Branding. “We have witnessed tremendous success in empowering startups and SMEs across diverse industries; from devising segmentation of an insurtech firm to grow its revenue by 125% leading to acquisition to being an outsourced marketing team to a QSR startup announcing its 7 franchises in less than a year. In this world of AI, the world of homegrown brands coming up one after the after, and the world of expensive agencies & consultants, what Umanshi has to offer is something that’s not just accessible but also relevant to their unique needs. They need someone to identify the needs and then design solutions all this while creating an ecosystem to deliver these solutions to show results!” Tamanna also works to foster the startup ecosystem, through incubators & accelerators such as Social Alpha, AIC RMP, IIMB NSRCEL, etc.
Umanshi’s spectrum of marketing activities includes conventional ones such as PR for greater visibility/ thought leadership to new age ones such as full-funnel marketing for driving revenue growth, etc. While catering to startups and SMEs, their innovative approaches have caught the attention of sure-footed brands as well. Umanshi’s core competency lies in understanding its clients’ business ambitions/ challenges and designing marketing branding solutions to deliver/ overcome the same. This has made them a catalyst for businesses looking to grow inevitably: grow brand, grow consumer wallet share, grow markets, and grow employer branding to grow revenues.
About Umanshi Marketing & Branding:
Umanshi Marketing & Branding is a full-stack agency specializing in startups and SMEs. With a team and a proven track record from organisations such as Percept Sports & Entertainment, Percept Profile, AllCargo Logistics etc, their comprehensive range of services includes marketing strategy, brand positioning, brand identity design, fractional CMO, PR, digital marketing, and more.
Umanshi Marketing bags three new mar-comm and PR mandates
In a spate of wins, Umanshi Marketing & Branding has bagged the mandates of comprehensive brand building, digital marketing, & PR for Celcius Cold Chain logistics, ForMen, a health and wellness and the PR for LP Logiscience, the warehousing division of logistics brand Liladhar Pasoo.
Tamanna Gupta, the founder of Umanshi Marketing, expressed excitement regarding recent successes, stating, “We are thrilled to welcome the startups Celcius Cold Chain Logistics, ForMen Health & the SME LP Logiscience onboard. We believe that startups & small businesses are disrupting the world for the better. They are resource-constrained hence delivering real and measurable results is at the heart of everything we do. We work closely with our clients to understand their unique challenges and ambitions to then develop marketing and branding roadmaps to address the same. We are eager to drive these brands towards even greater success in their journey.”
All three brands in this recent spate of wins, are category creators in their domains and are on aggressive growth trajectories. India’s first Cold Chain Logistics digital marketplace, Celcius is set out to create India’s one and only authentic Unbroken Cold Chain. “It is a pivotal time for us when we are reimaging our brand. We wanted a marketing and branding agency that would aid us in decoding that while creating a larger thought leadership aura that would be a high point, especially in our business. Umanshi is helping us in implementing our vision”, said, Swarup Bose, Founder of Celcius Logistics.
ForMen, on the other hand, is a Hyderabad-based start-up focusing on men’s sexual and overall health & wellness, a hitherto ignored category. “We were impressed by Umanshi’s out-of-the-box thinking and research-oriented approach, making them the perfect fit for our marketing efforts. We appreciate their clear insights and deep understanding of consumer behaviour, which allows them to structure campaigns that appeal to our consumers and maximize our ROAS. We can’t wait to see what we can achieve together,” said, Dr. Lalitha, Founder & Director of ForMen Health, on appointing Umanshi as the brand’s PR & digital marketing partner.
LP Logiscience’s Director, Varun Gada, adds to the accolades, “Working with Umanshi and its team has been an absolute pleasure. They are extremely proactive and always bring innovative solutions to the table. We’ve been collaborating for a few months now, and they have keen insights into the market trends which helps in our PR campaigns.” LP Logiscience, a division of the legacy brand Liladhar Pasoo, is bringing paradigm shifts in how India’s warehousing business is viewed.
