Manish Soni, a smart businessman, started a textile business some three years back and has so far performed well. However, for record keeping, he maintained a register in which he records transactions like amount to be recovered from customers, amount due to suppliers, among others. He now wants …
How small business owners can make their customers raving fans
All small businesses have an aspiration that their product or service should be so good that customers become raving fans. A customer who is a raving fan does not just repurchase the product, but also recommends it to others. This is achieved by designing and providing a high-quality product back…
Digitalisation of SMEs is key to success of Indian Machine Tool Industry: Siemens
Bangalore: Technology major Siemen’s EVP Digital factory division, Ashish Bhat, said digitisation in machine tool manufacturing will make the Indian SME environment vibrant and buoyant. In the manufacturing industry, machine tools – similar to lathe machines – are used for shaping oth…
Ujjivan begins operations as small finance bank; opens five pilot branches in Bengaluru
Ujjivan Financial Services on February 6 commenced operations as a small finance bank (SFB) with launch of five pilot branches in Bengaluru. These five branches, Ujjivan SFB said, will provide full service offerings. “In the next one month, the bank will comprehensively test its technology, chann…
Venture capital funding of logistics start-ups dips 68%
Hyperlocal logistics start-ups, the backbone for any e-commerce company, had a bumpy ride in 2016 in terms of fund raising and it does not seem to be getting any better. Venture capital funding into logistics start-ups has drastically declined by 68% to $124.61 million in 2016 compared to the pre…
Facebook invests $40k in Edtech start-up EduRev under the FBstart program
Social media giant Facebook has selected the fast growing Edtech startup Edurev for its much sought after FB Start program. EduRev will receive credits up to $40,000 and free tools and services from Facebook and its more than 30 partners including Amazon, UserTesting, Dropbox, and MailChimp. Besi…
GST to create Rs 36k cr software market in MSME segment
JAIPUR: With the GST expected to be rolled out from September of 2017, there is a scramble among the software providers to have a bigger pie of the MSME segment whose invoicing and tax compliance IT requirements are estimated to create a Rs 36000 crore market. Currently, only 90 lakh dealers out …
SMEs to pay 25% tax even if Rs 50 cr limit crossed in FY17: CBDT
The IT department said companies that had a turnover of less than Rs 50 crore in 2015-16 will pay tax at the reduced rate of 25 per cent from April 1 even if they cross the threshold in 2016-17 or subsequent years. Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said the income tax […
Hyderabad based start-up Smartron announces investment in Volta Motors to develop electric vehicles
Smartron, a Hyderabad-based start-up, February 6 announced that it will invest in Volta Motors, a Chennai-based automotive company that is designing and developing sustainable electric vehicles. This company will be eventually christened as Tron Motors, a Smartron Company. It, however, did not di…
Indian bitcoin start-ups form a blockchain association following RBI caution
A circular by the Reserve Bank of India last week, cautioning users about virtual currencies such as Bitcoin, may have led to an alarm among Bitcoin investors in the country, but for startups in this space, it has served as the right push for creating an industry association. Bitcoin players such…