Amazon launches fund to help smaller business partners

Amazon India launches special fund to help its small and medium business partners with logistics

This fund for SMBs in logistics will be available to delivery service partners and select transportation partners in India to help adjust their business model to the "new realities" posed during the lockdown. (Reuters photo)

Amazon India said on Wednesday it has introduced a partner support fund to help the small and medium businesses (SMBs) who are heavily reliant on the company. The company noted in a statement that SMBs across India have been financially impacted due to the nationwide coronavirus lockdown.

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This fund for SMBs in logistics will be available to delivery service partners and select transportation partners in India to help adjust their business model to the "new realities" posed during the lockdown, it said. "Through the one-time disbursement, the fund will support the partners in multiple ways.

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This includes enabling them to provide financial aid to close to 40,000 of their staff for the month of April 2020. Additionally it will help cover some critical fixed infrastructure costs, and support liquidity and cash flow for these businesses as they resume and scale their operations post lockdown," the company said.