Day: 17 August 2022

UNLOCKING THE GROWTH OPPORTUNITY FOR MSMEs

Small Enterprise India

In the current economic climate, unlocking growth in micro, small and midsize enterprises is critical for the survival of businesses. Globalization has introduced many new regulations and policies that have a direct impact on the way companies do business. In addition, as India becomes more regulated, businesses are challenged with trying to comply with them. Simplifying business processes and systems is essential to unlocking growth in MSMEs. The future of work is highly dependent on the performance of micro, small and mid-sized enterprises, which are crucial for economic growth and…

REPLACE OLD STRATEGIES WITH NEW ONES

Small Enterprise India

Replacing an old phone, or car with a new one is always exciting. This is not the case in the life cycle of a business. Taking business to a new dimension is always difficult for SMEs in this competitive environment. It may sound uncertain, and risky however it is conceivable. An idea can help to commence a business but the formulation and implementation of strong strategies will determine the growth of the business. Every business has two characteristics: Product and Service centric. Both the sectors are inclusive for companies, as…

MANAGING CREDIT RISK

Small Enterprise India

Making decisions is a significant part of managing an SME. Customer payment is one decision-making scenario that frequently results in problems. When it comes to consumer payment, you must always choose carefully because it can make or break your firm. In addition to being necessary for business, giving credit to customers is also ethical. However, this is vulnerable to credit risk, along with other things. A late-paying customer can cause turmoil for SMEs with little outside support. Maintaining a robust credit system is key to handling strict credit management and…