Digital Platforms as Catalysts for MSMEs and Startups Growth: An Exploratory Study

The advancement of digital platforms has transformed the business landscape, offering unprecedented opportunities for MSMEs (Micro, Small and Medium-sized Enterprises) and startups to thrive. Many MSMEs and startups in developing economies face major obstacles to growth, such as restricted market access, poor infrastructure and lack of funding, despite their potential. Digital platforms have become transformative enablers in this context, filling these gaps and providing a route to long-term growth. Small businesses can now compete on a larger scale and reach a global audience due to digital platforms’ improved market access. This exploratory study examines how digital platforms can spur the growth and development of startups and MSMEs. It looks at different kinds of digital platforms, such as social media networks, cloud computing services, e-commerce platforms and fin tech solutions and assesses how well they help break down conventional barriers. By looking at how digital platforms can increase market access, boost innovation and improve operational efficiency, this exploratory study explores the role of digital platforms as growth accelerators for MSMEs and startups. The present state of digital platform adoption among MSMEs and startups, the advantages and difficulties of using them and the variables affecting their efficacy are all examined in this study using a mixed-methods approach. The paper also emphasizes how digital platforms can foster inclusivity, especially by enabling businesses to engage in the digital economy.