Introduction: What is the MSME Scheme? In India, there are almost 6.3 crore Micro, Small and Medium Enterprises (MSMEs) that are making their active contribution in raising the GDP rate of India by getting involved in the business of trade both at the national and international level. MSMEs have been considered the country’s backbone for …
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Giving insights into the economic plan which comes as an integral part of the Atma Nirbhar Bharat Abhiyaan, Nirmala Sitharaman, the Finance Minister of India, announced major revisions in the definition of MSME or Micro Small and Medium Enterprises. The announcement was made on Wednesday, May 13th, and what came as a complete upside-down case …
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The Coronavirus pandemic has struck hard. It has forced some of the most powerful countries to contain their population in their homes, and the same goes for India. With such huge pressures on people, the administrators, and the governments across the nation, it is quite likely for the small businesses to suffer a big blow. …
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With the stock markets dropping and the COVID-19 cases heaving, small business owners are scrambling to find out the ways that can help them in dealing with disruptions. The pandemic is constantly spreading and affecting the world. Small businesses in India are fighting this double battle of managing operations and misinformation at the same time. …
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The entire world has become the victim of another pandemic- COVID-19. It has led to a very stressful situation. The pandemic is hugely impacting businesses across the country, and livelihoods of all associated are in great jeopardy. Approximately 62% of business owners who took part in an online survey stated that their businesses have full …
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Running a business definitely requires a lot of effort, hard work, and strategy that ensures your business can thrive or at least float through unforeseen circumstances. However, many a time it becomes difficult to prepare for every unprecedented event or situation, and recent times have shown us just how much. In the wake of COVID-19, …
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A recent survey carried out by the Federal Reserve Bank shows the credit environment, business condition, and insurance coverage of small and medium businesses. Of all the affected businesses, the survey put forward that only 4% has not faced any revenue losses, while 61% of companies suffered significant losses. The reality is that majority of …
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Every year, thousands of ambitious businesses take a kick start. But sadly, only a few survive and thrive for growth. A vast majority of businesses shut within a few years of their inception. Owing a business appears very appealing but in reality, it requires overcoming tons of challenges. Running a business and turning it into …
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Heading towards the path of entrepreneurship isn’t an easy task. Starting a business is rewarding but making it run for a long is daunting. Being a business owner you come across countless challenges. With every new day, comes a new challenge. And every obstacle that you encounter on your path requires an urgent rectification. Regardless …
Read moreBENEFITS OF MSME REGISTRATION MSME stands for micro, small and medium enterprises and they are the backbone of any developing economy. To support MSMEs, the Government of India, through various subsidies, schemes and incentives promote MSMEs through the MSMED Act. Though India is still facing infrastructural problems, lack of proper market linkages and challenges in …
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The words “businessman” and “entrepreneur” are often used interchangeably. Anyone who owns a company and earns passive income is commonly referred to by one of these terms. However, there are slight but significant distinctions between the two. Understanding them can have a massive impact on how someone starts and eventually runs their firm. Entrepreneur and …
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We would like to shed some light on how SME business owners can optimize their practices to create more income and to discover and minimizing the ways they are unintentionally throwing portions of their money away. We highlight a list of 5 mistakes which a business owner makes. Diversification As a business owner, you will …
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