Power2SME to launch operations in Lucknow to empower regional SMEs

Lucknow, July 16 (ANI-Businesswire India): Power2SME, India’s first ‘buying club’ for Small and Medium Enterprises (SMEs), sets foot in Lucknow with an aim to empower and support the regional manufacturing SMEs to evolve towards ‘ease of doing business’.

Majorly focusing in B2B space, Power2SME would launch a marketplace where SMEs can get timely access to quality raw materials at competitive prices.

The partnership of SMEs with Power2SME will not only enable them to procure raw material at better price rate but also provide them much required guidance and assistance at every step hence making them more sustainable.

Talking about the ambitious plans for SME sector in the region, Sumit Bhatia, Senior Vice President- Business Operations, Power2SME, said: “With over 44 lakh MSME units, Uttar Pradesh is among the top ten states in terms of SME base. The state showcases great potential for growth as the state government has been upbeat in introducing friendly policy framework for the sector.”

“This presents a great opportunity for us to provide services in raw material procurement, finance and other valuable services to SMEs in the region and be a part of their growth story. The local SMEs can draw benefits from our unique business model, dedicated services and offerings for enablement of ease of doing business,” he added.

With Lucknow region being developed as a mini-hub of SMEs including plastic industries, producing a range of industrial products such as pipes, pellets, packaging, etc., the company aims at achieving business targets of USD one million in the next six to nine months.

Power2SME has a geographical presence in 13 states with an overwhelming positive response from the market and it plans to further strengthen its foot prints across India in order to be meaningfully connected and to achieve the whole motive of making SMEs bankable.

Entering Lucknow would be a step towards introducing the company’s services to the SMEs, to build long-lasting business relationships with potential customers and to deepen the engagement going forward.

The first ‘Buying Club’ for SMEs in India, Power2SME, an Inventus Capital Partners, Kalaari Capital and Accel Partners funded company began operations in 2012. Committed to empowering SMEs by increasing their profits, Power2SME focuses on reducing purchase prices for SMEs and enhancing productivity.

Power2SME enables SME clients to focus on their core business of driving growth and expansion, while taking on the role of sourcing input raw materials at the most competitive price points across multiple products in categories such as Chemicals, Additives, Inks, Paints, Metals, Polymer Commodity, Polymer Engineering, etc.

Power2SME works with large, established and trusted suppliers so clients are assured about product quality. The present suppliers include companies such as Essar Steel, IOCL, LG Chem, Lotte Chemical, Rathi Bars, Bhushan Steel etc. (ANI-Businesswire India)

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