Introduction
In the rapidly evolving world of business, few platforms have made as significant an impact as SMEStreet, a venture founded by Faiz Askari. As a seasoned business media professional with a deep understanding of the micro, small, and medium-sized enterprise (MSME) sector, Faiz has dedicated his career to empowering these businesses through insightful journalism, strategic media campaigns, and a commitment to fostering growth within this vital sector. In this interview, Faiz shares his journey, the challenges he has faced, the trends shaping the industry, and his vision for the future of SMEStreet.
Q. Please tell me about your personal journey? What inspired you to become an entrepreneur?
A. My journey into entrepreneurship began with a strong background in business media and journalism. Over the years, I interacted with countless business owners, particularly those from the MSME sector, and witnessed firsthand the unique challenges they faced. This observation inspired me to create SMEStreet—a platform dedicated to addressing the needs of MSMEs by providing them with valuable insights, resources, and networking opportunities. My motivation stemmed from a desire to create a value-added media ecosystem that could guide these businesses in their growth and help them navigate the complexities of the business world.
Q. What were some of the biggest challenges you faced when starting your business, and how did you overcome them?
A. Starting SMEStreet presented a host of challenges, especially since I came from a non-business family background. Bootstrapping the venture in its early years was particularly challenging. One of the most significant hurdles was building trust and credibility within the vast and diverse MSME sector. To overcome this, I focused on delivering consistent, high-quality content that resonated with the needs of MSMEs. Networking and fostering relationships with industry leaders and associations also played a crucial role in establishing SMEStreet as a trusted platform.
Resource constraints were another major challenge. With limited finances, manpower, and technology, scaling the business required a lean and strategic approach. I prioritized essential activities that delivered the most impact and relied on strategic partnerships to extend the platform’s reach without incurring significant costs. Understanding the fragmented nature of the MSME market, we conducted extensive research to tailor our content and services to the specific needs of different sub-segments, which helped us stand out in a competitive media landscape.
Q. What key market trends do you think will shape your industry in the coming years?
A. The business media industry, particularly for MSMEs, will be profoundly influenced by the ongoing digital transformation. Automation and AI will play pivotal roles in content creation and audience engagement, leading to a demand for niche, hyper-personalized content. Visual storytelling and video will continue to dominate communication strategies, while data-driven decision-making will become increasingly crucial. Additionally, there will be a growing emphasis on sustainability and social responsibility, influencing brand narratives and consumer behavior. To remain relevant, businesses will need to adopt more agile PR strategies that integrate both traditional and digital channels. The rise of remote and hybrid work models will also impact how companies operate, making flexibility and innovative collaboration tools essential. Lastly, the expansion of e-commerce and digital marketplaces will push MSMEs to enhance their online presence and digital marketing efforts.
Q. Can you share a story of how your product or service has significantly impacted a customer or client?
A. Certainly! One of the most impactful stories from the SMEStreet ecosystem involves a small manufacturing business in India that specialized in producing eco-friendly packaging materials. Despite having a great product, the business struggled with limited reach and marketing expertise, which hindered its ability to scale. Additionally, the company was unaware of various government schemes and financial assistance programs available to MSMEs.
After discovering SMEStreet through an industry event, the business owner connected with our platform’s resources. SMEStreet provided tailored content and insights on effective marketing strategies, as well as detailed coverage of government policies relevant to MSMEs. This knowledge empowered the company to apply for and receive a government grant aimed at promoting sustainable businesses. With this support, the business expanded its customer base domestically and internationally, growing its revenue by over 200% within two years. This success story highlights how SMEStreet goes beyond providing information—it actively empowers MSMEs by connecting them with the right resources and networks to achieve sustainable growth.
Q. What are your personal and professional goals for the future?
A. Professionally, my goals are deeply tied to my passion for empowering the MSME sector. I aim to continue expanding SMEStreet as a leading platform that not only informs but actively supports MSMEs in navigating the complexities of business growth, digital transformation, and market challenges. I envision SMEStreet evolving into a comprehensive digital ecosystem, integrating advanced technologies like AI-driven analytics and personalized content delivery, making it an indispensable resource for SMEs worldwide.
On a personal level, I am committed to continuous learning and self-improvement, staying abreast of industry trends to better serve the community I care about. I also hope to mentor and inspire the next generation of entrepreneurs, sharing my experiences to help them achieve their goals. Balancing these ambitions with a focus on personal well-being and family is a priority, ensuring holistic growth while contributing positively to the industry and society.
Q. What motivated you to start your current business, and how did the idea originate?
A. My motivation to start SMEStreet originated from my experience as a business journalist, where I interacted with thousands of business owners and observed their challenges. This observation compelled me to create a platform that could become an ecosystem for MSMEs, providing them with the guidance and resources needed to grow to the next level. The idea was to offer a media platform that not only informs but also empowers MSMEs, helping them navigate the complexities of the business world with confidence.
Q. Is there anything else you would like to share with our readers that we haven’t covered?
A. As we look towards the future, SMEStreet is expected to create transformative value for MSMEs in India and globally by 2027. We aim to position ourselves as a critical enabler of growth, innovation, and sustainability for small and medium enterprises. Our vision includes expanding SMEStreet’s reach, fostering a robust international network of MSMEs, and driving the adoption of sustainable practices. The SMEStreet Membership Program is a key initiative in this journey, offering a comprehensive suite of resources, tools, and networking opportunities designed to empower MSMEs, startups, and SMEs to thrive in today’s dynamic market environment.
Closing Paragraph
Faiz Askari’s journey with SMEStreet reflects his deep commitment to the MSME sector and his vision of empowering small businesses to achieve sustainable growth. Through SMEStreet, Faiz continues to make a significant impact on the business landscape, driving innovation, and providing valuable resources to MSMEs across the globe. His dedication to creating a supportive ecosystem for small and medium enterprises highlights the importance of adaptability, continuous learning, and a clear focus on the needs of the community he serves.