Walmart Vriddhi, D&B: Boosting MSME Credit, Contracts

India’s micro, small and medium enterprises (MSMEs) are poised for a significant leap forward thanks to a strategic collaboration between Walmart Vriddhi, the retail giant’s supplier development program, and Dun & Bradstreet (D&B), a leading data and analytics company. This partnership aims to equip MSMEs with the tools and resources they need to not only survive but thrive in today’s competitive marketplace.

Unlocking Financial Growth: The Power of D-U-N-S

A cornerstone of the collaboration is the provision of D-U-N-S (Data Universal Numbering System) numbers to MSMEs registered under the Vriddhi program. This unique nine-digit identifier functions as a global business identity, allowing MSMEs to establish their creditworthiness and track their credit activity.

Previously, many MSMEs lacked the formal documentation required by traditional financial institutions to secure loans. The D-U-N-S number, along with the comprehensive data and analytics suite provided by D&B, will bridge this gap by giving MSMEs a recognized credit profile. Improved creditworthiness translates into easier access to working capital, a critical factor for business growth and expansion.

Beyond Credit: Expanding Opportunities

The Walmart Vriddhi and D&B partnership extends far beyond just credit access. The collaboration also encompasses two learning modules designed to equip MSMEs with the knowledge they need to navigate the complexities of government schemes and environmental, social, and governance (ESG) practices.

Government Schemes Demystified

One module focuses on deciphering the often-complex landscape of government schemes available to MSMEs. These schemes can provide financial assistance, subsidies, and other benefits that can significantly boost a business’s growth trajectory. However, MSMEs often struggle to navigate the application process and eligibility requirements.

The learning module will provide MSMEs with clear and concise information on relevant government schemes, empowering them to identify and leverage the right opportunities for their businesses. This can open doors to new markets, resources, and funding mechanisms, propelling MSMEs to the next level.

ESG for Long-Term Sustainability

The other learning module focuses on environmental, social, and governance (ESG) practices. Understanding ESG principles is no longer optional for businesses of any size. Consumers are increasingly making purchasing decisions based on a company’s social and environmental responsibility.

By incorporating ESG practices into their operations, MSMEs can not only burnish their reputation and attract ethically conscious consumers but also improve their operational efficiency and resilience. The learning module will equip MSMEs with the knowledge and tools to implement sustainable practices, future-proofing their businesses for long-term success.

A Win-Win for All

By empowering MSMEs, Walmart Vriddhi and D&B are fostering a more robust and vibrant business ecosystem in India. A stronger MSME sector translates into a wider pool of qualified suppliers for Walmart, creating a mutually beneficial relationship. This partnership is a significant development for India’s MSME landscape. By addressing the twin challenges of credit access and market knowledge, Walmart Vriddhi and D&B are paving the way for a brighter future for MSMEs, the backbone of the Indian economy.

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