ScaleUp
Scaling Medium and Small Sized Businesses by Collaboration
Created on 1st August 2020
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ScaleUp
Scaling Medium and Small Sized Businesses by Collaboration
The problem ScaleUp solves
Problem
The first step in making India "ATMANIRBHAR" is empowering Medium and small size businesses (MSME). (Source)
If we empower MSME, we will not only make India Self Reliant but will also have diversified employment in rural areas, which will help in distributing wealth equally.
As of now Manufacturing segment within the MSME contributes to as low as 7.09% of GDP.
The reason behind these lies in the Economies of Scale.
Economies of scale mean producing products and acquiring raw materials at a huge scale thereby saving the cost of production and increasing profit.
That’s the reason, we see Chinese products or Products produced by large factories cheaper.
Increasing tariffs or abandoning them is not a long term solution
We have to fight with them, by having competitive prices.
Solution
There are two parties in any manufacturing,
One who produces raw material and
One who procures that raw material and produces good.
Now Consider there are 10 small clothing businesses, and they need cotton threads to weave.
If they go to thread producer one by one, they will have to pay more cost per unit.
Because the thread producer didn't know that he is going to get 10 orders, so he kept stock in limit and sold with demand, so not only it cost more per unit for thread producer, but to clothing businesses too.
Now consider, If all 10 businesses give the order in bulk in thread producer, he can use the Economics of scale principle to produce the same quality threads in lesser cost per unit.
These 10 businesses also get raw material at a lower cost, hence can compete aggressively in the market and can have more profit. It's a win-win on both sides.
That's what ScaleUp is!
Why Deploy it on Blockchain
Because Absolute Power Corrupts Absolutely,
Recent Example, Amazon Antitrust Hearing | Seller Banned
See 5th Picture attached (right side) for more details.
Challenges I ran into
- Integrating Ant design and Material UI in the same page, after one trick I was able to do that.
- Solidity has one unimplemented feature called copying from struct memory array to storage array, which made me find workarounds all over the internet, I didn't find any. So I had to change complete structure of data, I went with mappings of mapping last.
Technologies used
Cheer Project
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