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.
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.
Don’t we all look up to someone that we admire and respect? It could be their qualities, ethics or their work that makes them so admirable and sets them apart. So, why go through life wishing you could be like them when half the work can be done by adopting the habits of these successful people? Here are the seven powerful habits of the super successful you too could adopt!
It’s important to move with the times and evolve; as an individual, an entity or any kind of organisation. If you’re a business, it is imperative that you stay on top of the latest trends in your industry and use it to better your business. As technology continues to evolve rapidly, businesses need to embrace emerging, cutting-edge technologies before it is too late else you will run the risk of becoming an industry laggard.
We scouted the internet for reports from leading sources like the SMB Group, Cerasis, Deloitte, KPMG and many more for the 2017 technology trends for small businesses to bring you a consolidated list of tech trends your business should not miss out on! Are you and your business on top of these technology trends listed here?
Writing a business plan can be a daunting task for most but it’s as vital as it is intimidating. But how exactly do you go about it? Where do you begin? What do you include? We’re here to help you with just that. Here’s how to get started with your business plan and what each section of your plan should focus on.
It is important for every small business to protect their Intellectual Property. Most SME’s in India are not aware of the importance of how to go about procuring an IPR or Intellectual Property Rights and often fall prey to malpractices. Of the ≅40,000 IP applications, India receives annually, over 85% of them are dominated by large corporates. This is indicative of the abysmal gap in IP applications from the SME sector. They lose out on valuable advantages and lose millions in revenue due to this lack of awareness.
Competition is the law of nature. Everywhere you look you’ll find competition, whether it be in your career or day-to-day life. It’s all about getting ahead at the end of the day. Nobody wants to fall behind, especially in a small business where you’ve put in blood and sweat to build it from scratch. So how do you make your mark in your business? How do you beat your competitors at their own game and emerge a winner? Get your running shoes on, because we’re here to let you in on foolproof ways to stay ahead in the game!