The Small, Medium and Micro Enterprises (SME’s) industry in the country is teeming with a multitude of businesses. The government has introduced a number of schemes to empower this sector and encourage indigenous products. However, these businesses are often oblivious to the variety of schemes running and lose out on substantial benefits. One such scheme that helps with tax saving is the R&D Tax Credit Scheme that was introduced to encourage small businesses to take risks and invest in research and development (R&D).
Long before social entrepreneurship exploded onto the scene, a young man from Rajasthan had already begun working on giving artisans from the carpet industry a voice of their own. Nand Kishore Chaudhary, born in 1953, instead of settling for a cushy life decided to venture out on his own into the world of knotted carpets and rural India.
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?
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…