Bangladesh, India’s neighbor, also has a large number of small businesses. It is said that there are actually 11.6 million small businesses in the country. One of the fastest-growing apps for small and medium-sized stores is “TallyKhata”. The service was officially launched in June 2020 by SureCash, a mobile payment company in the country.
This free application for small and medium-sized businesses, which can manage customers and payments such as dipping payments, is also showing tremendous growth under Covid situation, with the number of stores using it already exceeding 1.25 million. Until now, small- and medium-sized stores had to write their sales and other management tasks in a ledger by hand. However, with the spread of smartphones, they are now digitizing their operations management by downloading applications. The company also expects to start a small loan service for stores soon based on the huge amount of data.
With the spread of the mobile Internet, the scope of areas that can be digitized has become wider and wider. The financial services that emerge from this are also pushing the economic sphere of the retail industry. The digitization of small and medium-sized enterprises (SMEs) will become an increasing focus of attention across Asia. I look forward to seeing the ingenuity of entrepreneurs in various fields.