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GOVERNMENT SUPPORT OF SME FINANCE

Small Enterprise India

India has about 60 million+ Micro Small and Medium Enterprises, including registered and unregistered ones. SMEs have contributed about 40% of total manufacturing and 34% of total exports to the Indian Economy. They have become crucial; to the country’s economic growth, leading to employment generation and entrepreneurial development. SMEs are heavily reliant on debts to fulfil their start-up needs, cash flow and investment needs. Therefore, bank lending becomes the most common source of external finance for many SMEs. The government has taken a variety of measures to support SME access…

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…

MAKING THE MOST OF YOUR MARKETING

Small Enterprise India

You must always stand out and shout or show your product in the busy business world. Your primary aim would be to search for a targeted audience or projected consumers how your business product or services would help the end-user, consumer or customer, making their lives more fun and accessible through what they are selling. The process in the world of Business is called Marketing. Making the term accessible creates value or provides utility for the consumers or end-users, resulting in profits for the business house by delivering the product…

CHANGE MANAGEMENT

Small Enterprise India

Change management isn’t just an exercise for big companies in the middle way of transition. Smaller businesses need to help and guide their employees through change. The businesses fail in the execution phase of the change management efforts as per the explanation from the team of senior managers. What is the reason behind the failure? What are the improvement steps that can be the milestone to the change management of a company? The team is here to assist you with the resolving options that can trigger your process to find…

Hackathon by Startup Karnataka and CoinSwitch to find the best blockchain builders to solve urban challenges

Small Enterprise India

Dr. E.V. Ramana Reddy, Additional Chief Secretary to Government of Karnataka, Commerce, and Industries, Department of Electronics, Information Technology, Biotechnology, Science & Technologyand Vimal Sagar Tiwari, Co-Founder and COO of CoinSwitch, inaugurated Building Future Cities 24-hour blockchain hackathon in Bengaluru on Friday. The hackathon aims to stimulate blockchain-based smart solutions to urban problems, and received over 1500 registrations. Over the course of 24-hours, the participants will devise and exhibit blockchain-based solutions to problem statements on smart mobility, energy credits and trading, decentralized waste management, secure digital identity and certificate management,…

BE FUTURE-READY WITH PREPLANNED MEASURES & STRATEGIES

Avni Porwal

In today’s environment, MSMEs are facing a number of challenges, including tax reform and global solidarity in fighting various business issues. While this may not be enough, there are measures that can help these businesses weather the storm. These measures can provide much-needed financial support to the MSMEs. The financial aid for these businesses will go a long way in preventing job losses and boosting business survival. Many of the issues that MSMEs face are based on their size and nature. The external environment is murky, and one-fourth to one-fifth…

OVERCOME MAJOR BUSINESS CHALLENGES

Avni Porwal

Even after strongly steering across the professional journey, MSMEs still face multiple challenges. The economic climate in India is still sluggish, and the government’s policies are not enabling them to compete successfully in the global market. Among these challenges are the lack of finance, poor access to credit, and inefficient distribution of tasks. As a result, most of the MSMEs are operating in the informal sector, where financial documents are not always available. Challenges for MSMEs are truly real. Let’s enlist them one by one and discuss the ways to…

HOW STREAMLINED CASH FLOW EXEMPLIFIES POSITIVE FINANCIAL HEALTH

Avni Porwal

Cash flow and financial management are extremely important for MSMEs, as it helps ensure that bills and employees are paid on time. This, in turn, helps the business grow. MSMEs fall into one of three categories: manufacturing, service industries, and a combination of the two. Effective management of cash flow is vital to the success of any business, and it can help you grow faster.  Cash flow management is the most imperative aspect of running a business. Studies have showcased that 60% of businesses fail because they aren’t able to…

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