Finance and HR: 2 big headaches for startups

Finance and HR: 2 big headaches for startups

Times of India reports that a clutch of B2B e-commerce players are seeking to attract more business by helping small and medium enterprises (SMEs) address the issue of recruitment. Ahmedabad-based startup Tradeohub, an end-to-end supplier for SMEs, is one such company. It has tied up with local human resource or hiring firms as it found that recruitment is the second biggest challenge faced by SMEs after finance. "Manpower retention and recruitment is a major issue among SMEs but unfortunately it's the least talked about," said Akash Domadiya, co-founder of Tradohub.

Tradohub started supporting SMEs by providing manpower recruitment facility via its tie-ups with local HR firms, bridging the gap left by reliance on spread of information through direct references and word-of-mouth popularity. This has helped it attract more SMEs on its platforms as they get access to HR consultancy firms for their recruitment, training and other HR issues. "We started just to help SMEs solve their manpower problem. But it attracted more SMEs to join us and get us more business volume," said Domadiya. Most SMEs face challenges in retaining good employees or even hiring them in the first place, he said. "The skillset or resources required may not be available on the popular job portals due to (lack of) IT literacy of the target audience," said R Narayan, founder of Power2SME.

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