The Ministry of Micro Small and Medium Enterprises (MSME) was set up in the late 1940s as a vocational training center. The primary function then was to provide a means of employment for people who were displaced because of the partition. Later, the Micro Small and Medium Development (MSMED) Act came into being in 2006…
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?
Every business no matter how good the product may be, or how much funding they have are bound to have some trouble if their cash flow management is off. A company’s cash flow is dependent on timely invoice payments from their customers. A 2016 survey by Atradius on B2B Payments in APAC showed that Indian businesses face a delay of 65 days on an average to receive payments from the day of invoicing. The business struggles to stay afloat when these payments are delayed. This is one crucial aspect of any business that can spell success or doom for them. Here we outline some of the most common cash flow mistakes small business owners should stay clear of to avoid jeopardising their survival.
Understanding your company’s cash flow statement is indispensable to getting your company finances in order. It tells you how much money goes in and out of your business. Your company’s cash flow statement, the balance sheet and the income statement together will give you a holistic view of your company’s financial profile. A cash flow statement is a report of sorts that tells you how much money your company has in hand or its liquidity.
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…
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.
All businesses inevitably face cash crunches from time to time, at some instance or the other. While larger businesses search and utilise all viable solutions to keep their businesses afloat, small businesses often don’t have many options to choose from. Such businesses need financing mechanisms which are more flexible and specifically cater to their cash flow needs. Invoice Discounting is an alternative financing solution for these businesses that utilises the value of their invoices.