In a country riddled with bureaucracy and corruption, a move by the government in 2006 that promised support to the MSME industry was a breath of fresh air. The Micro, Small and Medium Enterprises Development Act (MSMED Act) of 2006 was enacted with great hope and promise. Its primary aim was to promote and develop this nascent industry while increasing competitiveness within it. It’s been a decade since, but has the act really benefitted SMEs in India?
All businesses, at some point of time, would require a financial impetus to help with their expansion goals or capital needs. A popular way to finance this is to avail a commercial or business loan. But how sure are you that your loan application will be sanctioned by the lender?
Okay, so you’ve come up with a brilliant small business idea; you have a business plan, you’ve got the resources and your registration papers are in order. But, what about your Udyog Aadhaar Registration?
Rags To Riches: The Story Of PC Mustafa
Not everyone is born with a silver spoon in one’s mouth. Not everyone has an easy start in life. Yet there are some who shatter the conventional divides and emerge successful. Nobody epitomizes the quintessential rags-to-riches story better than PC Mustafa, the man behind the Rs. 100 crore idli and dosa batter brand, iD Fresh. A brand that has gone on to become a staple in every kitchen across India and the Middle-East.
CIBIL Score, an ominous term that makes even the most financially aware among us squirm in our seats. Maintaining a healthy credit score is vital to our financial well-being. The first credit information company in India, the Credit Information Bureau (India) Limited (CIBIL) was established in 2000 and has since been the most popular credit agency in India. CIBIL collates all the credit information of an individual sent to the agency by banks. Using this data, they score an individual’s credit history on a range of 300 to 900, with a score above 750 being considered healthy. This CIBIL score serves as a quantitative measure of an individual’s credit worthiness and is used by banks and other lenders when one applies for a loan or credit.
The scale of change because of GST can be enumerated by just considering the fact that, after its implementation almost every SMB in India will come under the purview of a unified Taxation System. According to the GSTN’s Chief Executive Prakash Kumar “The network is built for about 70 million taxpayers, who will upload about three billion (3 Crore) business-to-business (B2B) invoices every month across the country”.
The invoice due date and its timely payment is crucial for any business to remain afloat. One of the least pleasant experiences for business owners is to chase late payments. As per a report by Atradius on payment practices – Indian economy is doing well with a bright future prospect. A stable political situation, low commodity prices & foreign direct investment is benefiting the economy. Despite the positive outlook the business climate in India has some hurdles to cross. The delay in payments could worsen the liquidity position besides increasing the financial and administrative costs required to carry long outstanding trade receivables.
Indian Logistics Industry is expected to grow at a CAGR of 8.6 percent between 2015 and 2020, which grew at a CAGR of 9.7 percent during 2010-2015. Transportation and Communication accounted for 7.0 percent of the nation’s GDP in 2015, accounting for around US $130.44 billion.
We got talking to an Expert in the field and got an insider’s view on the do’s & don’t. Find the full Interview below.
Ever used Excel? Well most of you would say ‘Yes’ to this question. Excel is an important tool for every kind of business and it completes every requirement.
If you are ever in a situation, where you are doing a lot of manual work in the excel sheet then be sure that you are missing out on Excel Formulas. To keep you away from such situation, here are the Top 10 Excel Hacks that every business should know.
Why not take a chance on faith?
Life as we know is a roller coaster ride. You have your up’s and are in constant fear of your down’s and while you are at it you Learn, maybe a great deal or not thing at all. Today Kredx brings you the Inspiring story of the famous ‘Jim Carrey’.
Jim Carrey was born in Ontario and has three older siblings. In order to succeed in school he had to work around ‘dyslexia’ a learning disability. Money was a big issue, the family had to live in a Van for a while and he had to work an eight hour night shift to add to the family income while also attending school during the day.