Business 2023

Hello 2023! At SMBStory, as we tell you what’s in store for you in the new year, let’s also take a look back at 2022 to revisit some of the inspiring stories and ecosystem insights.

As we welcome the new year, SMBStory has a lot in store for you in the days to come. From untold stories from nooks and crannies of the country to ecosystem insights, journey of new generation leaders, and whatnot, we are poised to give you the much-needed insights, inspiration, and all the happenings in the micro, small, medium enterprises (MSMEs) and large companies of India.

But before we talk further, let’s take a look at 2022 and revisit stories of founders and businesses to start the first day of 2023 with positivity, and spark the entrepreneur inside you. 

The story of determination

MBA Chaiwala

“Karna tha sangharsh toh road pe chai banaya (As part of my struggles, I made roadside tea),” says Prafull Billore, famously known as ‘MBA Chai wala’. Neither is Prafull a foodie nor is he very fond of cooking, but he still built a multimillion business by selling chai (tea) across India.  

Hailing from Dhar, a small town in Madhya Pradesh, Prafull was not motivated to pursue his MBA from Ahmedabad University. However, reading books and learning from the quotes of famous business leaders kept him motivated.  

Fast forward five years, the 25-year-old is now a multi-millionaire entrepreneur who has built MBA Chaiwala, a business with a turnover of Rs 4 crore (as of FY21) with more than 100 outlets pan India.

Read the full story here

The story of compassion

Raheja Solar Food Processing

One way to reduce food wastage is by drying fresh produce. Varun Raheja, Founder of Raheja Solar Food Processing, says, the global demand for dried produce is currently worth $70 billion.  

The 25-year-old entrepreneur from Indore says the inspiration to launch the company came after he learnt about sustainable living and practices at Jimmy McGilligan Centre for Sustainable Development, an NGO in Indore.   

Varun’s interest in solving farmers’ woes led him to research solar dryers. A few years later, in 2019, he launched Raheja Solar Food Processing. Since its inception, Varun claims the company has been able to reduce 250 MT wastage of produce by farmers across India.

Read the full story here

Apart from these, there were many other stories we covered in 2022 that showed how, despite many obstacles, there’s no dearth of aspiring entrepreneurs across India. From a graduate selling chai to an 80-year-old couple starting a business, these were the top 10 SMB stories of 2022.

As 2022 was a year for ‘Made in India’ boost, new policies and schemes, 2023 holds a lot of potential for the growth of the MSME sector in India. 

Unlike other business sectors, including startups and large, legacy family businesses, MSMEs, for years, have lacked ‘glamour’. Although they have been slow in adapting to the changing industry needs, they have played a crucial role in shaping the development of Indian industries. The COVID-19 pandemic, which threatened their survival, forced these units to move out of their comfort zone and transform in the emerging business world—the Amrit Kaal.

And how MSMEs in 2023 will define the roadmap for Atmanirbhar Bharat.