4 Jun 2019, 10:02 — 6 min read
Enterprise: SMEA Analytics Private Limited
Founder: Nilesh Desai
Industry: Digital & Technology
Year it was founded: 2018
Based out of: Hyderabad, Telangana
In an uncertain business landscape, often small and medium enterprise owners find it difficult to financially sustain their business. Many entrepreneurs take financial management analysis for granted while others are uncertain about how to maximise the potential of their financial data. Most businesses prepare financial reports because it is an important part of government regulations and indicates financial transparency. But in order to implement successful financial management practices, a rock solid financial analysis is required.
In steps Mr Nilesh Desai, who thought of this pain point SMEs are facing and decided to do something about it. With an entrepreneurial experience of nearly four decades, Mr Nilesh jumped into a sea full of sick SMEs in order to revive them and get them back on their feet. He started SMEA Analytics Private Limited in the year 2018 to fulfill his passion of helping and reviving SMEs.
During my work for the revival of sick MSME units, I observed that most of the entrepreneurs have little to no knowledge of the basics of finance. This led me to start SMEA Analytics Private Limited for providing financial assistance to these SMEs.
Mr Nilesh built SMEA Analytics based on his vast entrepreneurial experience of nearly 39 years. Mr Nilesh bravely faced his share of disappointments failing twice as an entrepreneur but getting back on his feet each time.
With a fierce hunger in his heart, he set out to nurture SMEs back to sustainability. “During my work for the revival of sick MSME units, I observed that most of the entrepreneurs have little to no knowledge of the basics of finance. This led me to start SMEA Analytics Private Limited for providing financial assistance to these SMEs," shares Mr Nilesh. Today they have collaborated with 15+ companies, and are working with six sick SMEs. The feather in their hat is the two SMEs they managed to revive completely from a stage of crisis to the stage of stabilisation.
Raising awareness about the business
Mr Nilesh shares, “We have been raising awareness about our business in various ways like social media marketing, email marketing and so on. We have also been personally messaging our subscribers and building rapport. We are also meeting people face to face to explain our company and services, especially with MSME associations. This I think has been the most effective way of spreading awareness.”
Challenges and how to overcome them
For Mr Nilesh, the major challenge that he can foresee already is that people don’t have awareness regarding their own shortcomings in the financial domain. “This is the reason why I started the awareness programme via various marketing tools,” shares Mr Nilesh.
The other challenge is that people are not ready to share their financial data with a third party to facilitate analysis and a deep understanding of the situation.
Nilesh admits that GlobalLinker has helped him connect with many SME entrepreneurs. He strongly believes that SMEs should use the platform because it will give them opportunities to connect with a diverse range of entrepreneurs and can become a sounding board for all. It will also act as a marketing platform.
Advice to young entrepreneurs
Mr Nilesh shares, “The main advice I would give, is to have a strong foundation in at least the basics of financial analysis. This would help increase operational efficiency.”
Next big thing on business agenda
The next big thing on Mr Nilesh Desai’s agenda is to be able to help at least the 10% of the 6.3 crore MSMEs in India. His ultimate goal is to have all the MSMEs all over the world to be sustainable in their operations.
The person behind the business
Interested in reading more SME Inspirations articles? Check out some of our articles here:
From ban to yes we can! - A Mumbai entrepreneur's story against all odds
How one entrepreneur went from comfort zone to courageous growth – and you can too!
Network with Nilesh Desai by clicking on the 'Connect' button on his profile.
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Posted byGlobalLinker Staff
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