Udyam Samvada October 2020

  • How should a micro-entrepreneur adapt to a widespread crisis like the COVID-19 pandemic?
  • What steps must be taken to ensure that a business can survive in times of distress?

These are just some of the various questions answered during the second webinar in the “Udyam Samvada” series. This webinar took place on the 30th of October 2020 virtually.

The esteemed panelists who spoke in this webinar included Smt. Radhika Meenakshi Shankar (Founder, Wise Owl Consulting), Shri. Ramesh Nellatur (Associate, MEDP Deshpande Foundation) and Neelima Tippavajhala (Self-made Entrepreneur). This webinar was primarily aimed at micro-entrepreneurs from the states of Andhra Pradesh and Telangana.

Some of the main topics covered in this “Samvada” varied from the adaptability of a micro-enterprise and the importance of technology in an ever-increasing digital world. There was a common consensus among the panelists that versatility and adaptability are extremely important for a business as it can help the micro-entrepreneurs to switch up business strategies to cope up with drastic situations such as the current pandemic. Smt. Radhika used five different examples of micro-entrepreneurs who adapted to the COVID-19 pandemic and changed their business strategies to suit a different year like 2020. These examples can help micro-entrepreneurs to understand and relate to such situations. Smt. Neelima’s real-life experience of switching business plans in the middle of a pandemic was relatable to many micro-entrepreneurs who viewed the event.

In addition to the importance of adaptability and versatility, the panelists also came to a common consensus that it would be important for micro-entrepreneurs to use various channels of distribution to sell their products to a wider audience. Rather than sticking to the norm, it is always important to think outside the box and employ innovative solutions to reap the benefits. Other topics discussed in this webinar include the importance of an online presence, the necessity of adding value to the sold products, and customer feedback in a changing world

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