- Over 35 million job applications generated by small and medium enterprises (SMEs) in 2024.
- Significant demand for roles in sales, marketing, and hospitality, with notable growth in tier-2 and tier-3 cities.
- Female job applications rose by 30% year-on-year, highlighting increased female workforce participation.
In the first eight months of 2024, small and medium-sized businesses have spurred a substantial increase in job applications, totaling over 35 million.
Notably, more than 55 percent of these job applications have come from tier-2 and tier-3 cities, including Jaipur, Indore, and Ahmedabad.
Record-Breaking Job Applications Reflect Small Business Growth in 2024
The job market has experienced a notable boost in 2024, with small and medium enterprises (SMEs) contributing to over 35 million job applications within the year’s first eight months. This uptick is primarily observed in the BFSI, BPO, and hospitality sectors, indicating a strong demand for roles such as Sales & Marketing Managers, Accounting Technicians, and Business Development Associates.
The growth in job applications is not limited to major metropolitan areas; tier-2 and tier-3 cities are also seeing a surge in job seekers. Cities like Jaipur, Indore, and Lucknow are becoming significant contributors to this trend, reflecting the expanding economic opportunities in these regions. The increase in applications from these areas highlights a broader, more inclusive economic development.
Female participation in the job market has seen a significant rise, with women accounting for 14 million of the total job applications—an impressive 30 percent increase compared to the previous year. This surge underscores a growing trend towards greater female involvement in various fields, including finance, marketing, and graphic design.
According to Nirmit Parikh, Founder & CEO of apna, SMBs and MSMEs are critical to achieving the nation’s goal of a USD 5 trillion economy. The expansion in job applications reflects not only the resilience of these sectors but also the vital role they play in driving economic growth and creating employment opportunities.
The substantial rise in job applications from small businesses underscores their pivotal role in the economic landscape, driving growth and increasing opportunities across various regions and sectors. The notable increase in female job seekers further highlights progress towards a more inclusive workforce.
“SMBs (Small and medium-sized businesses) and MSMEs employ more than 110 million people and their success is crucial for our nation’s journey towards the USD 5 trillion economy goal.”
