Tech giant, Apple Inc.’s plans to set up an iPhone SE manufacturing plant in Bengaluru is still in talks. The iPhone maker’s request for tax relief and exemption from customs duty on imported components and equipment for 15 years is being looked into by the Ministry of Commerce and Industry, and the Ministry of Finance. The PMO is expected to make the final decision about the proposal, though it is expected to be a favorable one. If Apple has its way, would it have a positive impact for the country and the SME industry in particular?
Small Businesses both in urban & rural areas will feel the heat as these are mostly run via cash transactions. Also with the rise in NPA banks will be averse to fund these businesses even for a short period of time. Businesses with cash transaction will now have to rely on funding from other sources and might end up paying a lot more.
Invoice discounting can help fund the Logistics & Transportation industry by freeing up cash sitting in unpaid invoices. The dependency on unpredictable and fluctuating factors makes it all the more necessary for organizations to have a strong cash flow system.
Cash is the ‘King’. The time delay between payment to suppliers and employees and collection from vendors and customers is the major problem and the only solution is cash flow management which is actually very complex to manage.
The Medium and Small business sector is the backbone of any great economy and India is no different. They are the silent engines of the economic growth. They will have to serve as the building blocks of growth if India has to achieve its place under the sun of becoming an established Economic Power in…