Category: Featured

MSMEs PLANNING AHEAD OF TIME

Avni Porwal

A good preplanning strategy will not only help you through a crisis, but it will also help you protect your employees, your business, and the economy in general. If you’re a micro or small business, planning ahead is essential to avoid major losses resulting from a crisis. It’s also an apt way to learn from past experiences and prepare for future crises.  Micro, small and medium-sized enterprises (MSMEs) are crucial to the development of any country. They contribute a substantial portion to GDP, employment, and export. However, despite these benefits,…

HOW CAN MSMES KEEP UP WITH THE MARKET PACE?

Avni Porwal

The e-commerce sales cycle is one way to understand MSMEs’ challenges. In an ideal world, a buyer would click on a link; a fulfillment system would select the product, fill out the customs form, and deliver the shipment to the buyer’s doorstep. However, in developing countries, this kind of convenience is still far away. The weaknesses of an MSME’s e-commerce sales cycle differ from country to country. In some countries, a weak link is in cross-border payment acceptance. Others fail to follow up on after-sales service. MSMEs’ financial condition is…

IPO IS THE BEST ROADMAP FOR SMEs

Small Enterprise India

We all know the idiom “if there is a will, there is a way” this will be the only mantra for the small-scale industrialists to make it bigger. Determination and challenges are essential to survive in our highly competitive business industry. First, we must keep faith within to conquer our target. Let’s look closely at the life of business tycoons. We get similar things rather than a wish and will: hard work, proper business strategy, and goodwill. It is a challenging motto to establish own business and its sustainability. There…

WINNING THE BUSINESS LANDSCAPE BY BUILDING AN ABSOLUTE CUSTOMER COMMUNITY

Avni Porwal

Developing a community around your products or services is an excellent way to get new customers. MSMEs that lack access to loans or finance can’t buy a sturdy retail space. Flash floods can wipe out all the inventory in one day. Animal breeders don’t have access to weather forecasts, and drought can cause herds to perish. By building a community around your products, you can create a lasting brand name and gain new customers. The global supply chain can be disrupted by natural disasters, which have a severe impact on…

NURTURING A GREAT COMPANY CULTURE

Small Enterprise India

The company culture embraces the complete corporate environment at your organization. Culture indicates the valuable inputs that mark the organization apart from its competitors. The company culture represents the reputation of the business in the market, its staff, and the products and services that can affect your customer base. A healthy and result-oriented business culture keeps all the segments of the organization working towards a single business goal. Leaders need to train employees to make them understand the company vision by nurturing the company culture. No one can impose it…

SMALL ENTERPRISE INDIA COLLABORATED WITH PLUGIN ALLIANCE

Small Enterprise India

Aspire AEONIAN (Aspire Media Pvt Ltd) – Publishers of Small Enterprise India (for SMEs), are thankful for the recognition that we received from Plugin Alliance, founded by Intel Corporation and SINE – IIT Bombay, as a platform since 2009, educating MSMEs to help their businesses grow. Plugin Alliance is the first-of-its-kind industry technology alliance in India for enterprises and MSMEs to accelerate and scale emerging technology solutions. The vision is to provide an open collaborative framework for the ecosystem to nurture innovation and accelerate the adoption of smart industry solutions enhancing global competitiveness.…

BUSINESS SKILLS FOR WORKPLACE SUCCESS

Small Enterprise India

In this century, artificial intelligence, automation, and technology can take control over the majority of things. It has changed the course of actions in business life as well as in personal life. In short, the technical revolution has made things convenient and comfortable for humans in all aspects. Some people think it is a big concern because most of the tasks are now automated and require less manpower to perform. Not only this, it has enormously increased the competition between MSMEs, leaders and employees. Hence, it is becoming essential for…

A STREAMLINED CASH FLOW EXEMPLIFIES POSITIVE FINANCIAL HEALTH OF AN MSME

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…

THE LAZY CUSTOMER MODEL

Neetu Vijoy Bansal

Have you noticed that most start-ups today are solving problems that ease the lives of their customers. From ordering a cab to your doorstep to software that can automate all tasks, businesses are making our (customers) lives faster, easier, safer, and simpler. As a Business Coach working with SME Business owners, I propagate learning from other segments. Do read my earlier write up “Things Small Businesses can adopt from Large Corporate”. Continuing that theme, one of the things SME Business owners can learn from Start-Ups is to rethink the Customer’s…

BANK APPROACHES THE CHALLENGES OF SERVING SMEs

Small Enterprise India

For SMEs, access to finance is a significant challenge. They need affordable lending solutions, improved credit risk scoring, and less friction. But banks often fall short of these objectives. While each of these approaches has merit, if they fail to commit to one main approach, the result is a hybrid. Banks should focus on the unique challenges faced by SMEs to meet their funding needs. Listed below are four ways to improve bank offerings for SMEs. SMEs struggle to access finance. SMEs across India face significant challenges when it comes…

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