Very important.An SME ecosystem is a growth catalyst for small manufacturing units as it helps to connect them with a larger pool of consumers through various platforms for enhanced visibility. An SME ecosystem also helps to establish authenticity through certifications and ratings, along with aggregating demands to generate more consistent orders. Moreover, it provides SMEs with the facility of accessing market information through which they can understand the needs of their consumers accordingly.

How do B2B platforms contribute to improving the SME ecosystem?

B2B platforms remain an important area that helps improve the SME ecosystem. This is achieved through:

1. Market Access and Reach:

B2B platforms make it possible for SMEs to reach markets that were hitherto inaccessible to them, both locally and globally. These platforms enable SMEs to connect with their desired players in the global marketplace.

2. Cost Efficiency:

These platforms help minimize marketing, sales, and procurement expenses through streamlined transaction and negotiation processes, thus improving efficiency. Ease of comparing prices, direct negotiation, and group deals helps improve the margins for SMEs.

3. Digital Transformation:

When SMEs engage with B2B platforms, they embrace digital solutions for inventory management, payment systems, logistics, and customer relationship management. This helps in their digital transformation.

4. Trust & Credibility

B2B platforms tend to screen or verify the parties involved, ensuring that there is trust among the users. Such elements as ratings, reviews, and a remedy for any disputes that may occur also ensure that trust is built, making it easier for SMEs to conduct their businesses with other firms. 5. Access to Finance: Certain B2B e-commerce platforms partner with financial institutions to provide credit or financing services. This is especially helpful for small businesses that face issues in accessing funds for operations. 6. Knowledge & Networking: Value-added services such as market information, training, and networking are often provided by various platforms. These services enable SMEs to keep up with industry trends, regulations, and best practices. 7. Scal B2B platforms help SMEs expand their businesses quickly by automating processes, gaining access to a bigger marketplace, as well as integrating with their supply chain effectively. ACF is a B2B platforms enable SMEs by ensuring they have better access to markets, developing trust, cutting costs, encouraging digitalization, enhancing access to finance, and ensuring access to growth resources. This, in turn, enhances the overall SME ecosystem since it is made more robust, more competitive, and more innovative