SMBs Lead the Charge in Job Market Expansion as Applications Surge by 20%

In a significant boost for India’s small and medium-sized enterprises (SMBs), a recent report from apna.co reveals that over 35 million job applications have been submitted for SMB roles in the first eight months of 2024, marking a remarkable 20% increase year-on-year. This surge highlights a growing demand for positions in various sectors, including Sales & Marketing, Accounting, and Business Development.

BFSI, BPO, Hospitality, and Manufacturing on the Rise

The report indicates that industries such as BPO/Call Centre experienced a 15% rise in demand, while Marketing and Advertising roles saw a substantial 25% increase. Additionally, the Real Estate and Banking sectors recorded growth rates of 10% and 12%, respectively. These trends underscore the critical role SMBs play in job creation across the country.

Emerging Talent Pools in Tier-2 and Tier-3 Cities

Notably, more than 55% of all job applications for SMB positions originated from tier-2 and tier-3 cities, including Jaipur, Indore, and Kochi. This trend reflects the increasing demand for jobs in these regions, aligning with the rise in registered SMBs. As businesses expand their operations, the growing talent pool is creating a beneficial ecosystem for both employers and job seekers.

Empowering Women in the Workforce

Of the 35 million applications, 14 million came from women, signifying a 30% year-on-year increase. This trend showcases a rising participation of women across various job sectors, including finance, marketing, and design. Moreover, over 38% of these applications were submitted by women from tier-2 cities, indicating a push toward a more inclusive job market.

The Role of SMBs in India’s Economic Growth

SMBs are increasingly recognized as the backbone of India’s economy, employing over 110 million people. As the nation aims for a $5 trillion economy, experts suggest that the success of these enterprises will be crucial in meeting workforce demands and driving economic development. The continuous support from platforms like apna.co plays a vital role in facilitating the connection between talent and opportunities, ensuring that SMBs can thrive.

A Bright Future for India’s SMB Landscape

As India’s SMB sector continues to grow, the collaboration between businesses and job seekers remains essential. With platforms like apna.co leading the way in hyperlocal hiring, the future looks promising for both job seekers and small businesses alike, paving the path for sustained economic progress.