How Data Analytics Can Improve Your Business's Decision-Making

How Data Analytics Can Improve Your Business’s Decision-Making

Business Data Analytics lays emphasis on intelligent decision making that stems from an in-depth analysis of a company’s past performance. The process itself involves using the hard data that specifically pertains to a company’s past practices and then analysing these to garner informative business insights that can boost future sales. Business Data Analytics has a broadly…

An Overview Of GoI's National Manufacturing Competitiveness Programme (NMCP) For MSMEs

An Overview Of GoI’s National Manufacturing Competitiveness Programme (NMCP) For MSMEs

The manufacturing sector contributes 17% to the country’s overall GDP of which 45% of the manufacturing sector’s output is contributed by the SME sector alone. The SME sector forms an integral part of the Indian manufacturing sector and enjoyed a sheltered existence with a high tariff on imports, fiscal incentives and a monopoly on the manufacture of certain goods. However, the reform era beginning 1991 opened India to trade agreements with other countries that proved advantageous to organizations that held a monopoly in their respective trades. To help with this and augment the global competitiveness of the Indian micro, small and medium enterprises (MSME), the Government of India in partnership with the MSME ministry launched a set of schemes under the National Manufacturing Competitiveness Programme (NMCP). These schemes which began to be implemented in 2006 aim to give these enterprises a competitive edge to survive in a liberalised economy.

How to beat your business competitors at their own game

Infographic: How To Beat Your Business Competitors At Their Own Game

Whether it be business or life in general, it’s all about “survival of the fittest” and getting ahead at the end of the day. Nobody wants to fall behind, especially in a business where you’ve put in blood and sweat to build it from scratch. But how do you make your mark in your business? How do you beat your competitors at their own game and emerge a winner? We’re here with a simple infographic to help you do just that.

Why Customer Service Is Vital To Every Small Business And Startup

The One Aspect Every Small Business And Startup Should Focus On

Most businesses base themselves on the age-old business mantra, Customer is king, or they try to. All of us know how important customer service and subsequent customer satisfaction is. While this is easier to achieve for customer-facing businesses, it may not be so for businesses that operate online. You can try to bring in technology to automate customer service but let’s face it, you can never fully automate customer service. A personal touch in emails or messages is something that can never be replaced. As an early-stage startup or a small business, your initial set of customers is the most important to grow your brand. Let’s take a look at how customer service can be valuable for your business.

The Five C's Of A Business's Credit Worthiness

The Five C’s Of Building A Business’s Creditworthiness

Most small business owners work hard to keep their businesses running smoothly by cutting corners, reducing unwanted expenses and making smart business move. But in all their hard work, most often they forget and undermine the importance of taking care of their business’s credit rating. Creditworthiness plays a big role when you need to look for financing options through business loans or alternative financing sources such as KredX’s invoice discounting services to support or grow your business. In simple terms, a business’s creditworthiness is a valuation performed by these lenders to determine if they are a good fit to be given money to and won’t default any debt. It usually takes factors such as repayment history and credit score into consideration.