Your business has a good reputation, and you want to maintain the market standards to keep up with the competition. As your business grows, you seek opportunities to upscale it to great heights. Your business should attract the right kind of people, including the lenders, who can contribute to your business in any manner. If
If you are a small business owner, you’ve probably considered doing business with other new businessmen to grow your product or business fast. But it’s not easy to doing business with a new client and trust them blindly. You have two options, either doing business with a new one without checking the background and trust them
It is the goals that matter the most, be it life or business. To succeed in life or business, one needs to have clearly defined targets and a path should be laid down to achieve it. We all know that finances are key to both life and business. Likewise, robust financial planning will make sure
Starting a business and running it startlingly are two different things. Where one could be just a beginning, the other could prove to be a game-changer for the business in the long run. There are several factors that could make it happen. Managing the finances of a business is one of them. But managing finances
CIBIL (Credit Information Bureau (India) Limited) Report is like a touchstone for any company. It’s like, if a company has better CIBIL score, it is considered financially strong and worth dealing with. It is for this reason that companies do their best to maintain good company CIBIL score. They also regularly generate CIBIL report in
In the business world, Invoice is what proves to be a legal record of a sale of product of service. It is through the invoice that business enterprises do their finance management and it is through the invoices that sellers get paid by the buyers. It is with the help of invoices that companies show
In India, Small Industries & Businesses are termed as the backbone of the country’s economy. It is these units which act as robust pillars at the grassroots in providing support to the nation’s economy. Besides, being low-budget, high-productivity units, these also employ the greater number which in turn helps bring down pressure on other sectors.
Time has proved that Micro, Small & Medium Enterprises (MSME) are key to the Indian economy. Not only have they contributed a significant portion to India’s GDP, they also employ millions of people, which makes them the second largest workforce employer in the country. The first being the agricultural sector. However, ability to provide this
What is CoronaVirus and how this can affect economies Coronavirus is a type of infection that can cause afflictions in people. This new infection has infected people worldwide. However, most common symptoms are cold-flu like but sometimes its symptoms are untraceable and only a certain test is conclusive. Its mortality rate is around 2-4 %
Banks are indeed the most trusted and the most secure way of storing money. It provides some of the most secure ways of handling monetary currency and storing and using it for further use. This is the most trusted and secure way of holding and securing transactions. This money is held in monetary terms as
Economic Impact of Coronavirus in India The new disease Coronavirus is named after crown-like viruses that generally protrude from their facade. As compared to other viruses, Coronavirus can affect humans and can cause severe respiratory diseases leading to progressively perilous situations such as Severe Acute Respiratory Syndrome or SARS. It is also known as COVID-19.
Real Meaning of Economy and How Factors Impact It An economy is basically defined as a system of making, consumption, and trade of goods and services that includes a number of products and trading of those products in an area. The word Economy is derived from a Greek word that means the management of household
Since 2001, India saw the biggest upsurge in the field of start-ups and entrepreneurship adventures. Even to this date, the GDP of the country’s economy depends a lot on these smaller firms. India is one young nation, which is transforming into a bigger one these days. Even the government is all set up and ready
Whenever you are planning to run a business, you always think about its expansion and the profits you can make out of it. For expanding your business, it is really important to get good amount of money as loans. Now, any financial institution won’t spare you that money unless you are able to show them
Your business relies on your credit score, acquired throughout the years. What you have done over your business life will get presented on the credit score. Based on the good CIBIL score of your business, banks and other financial institutions will provide you with loans later, when you need it the most. However, for the
For procuring credit worthiness and capabilities of any industry in this current sector, MSME Ministry of India came up with a new version of the credit rating and performance scheme. Lok Sabha worked hard with the Minister for Micro, Small and Medium Enterprises to implement these changes. The ministry, with the help of National Small
In India, Micro Small and Medium Enterprises have their hold and a separate MSME Credit Report base. Everything from its functionality and legal points is placed under the MSME Act 2006. It depends on capital investment as made in the area of machinery and plant. However, this act will always exclude investments as made in
Even though MSME or Micro Smaller and Medium business is on the rise in India, you can’t just state it to be the most flourishing sector of all. Unfortunate enough, MSME is stated to be one of the most neglected sectors, especially when the matter is involving public policy. That’s why these companies end up
Letting go of your business which you worked so hard for is a soul-crushing experience. Well, chances are high that you might lose it over time if your business is you ended up working with defaulters, who claimed to be your promising clients before. During such instances, it is vital to prepare for your business
Smaller and medium sized businesses have to deal with multiple clients at the same time to get their businesses up and running. They are against some of the biggest competitive giants in the market, which leads to certain high-end pressures on their business run. However, things might not run as smooth as always and some