Kochi: Amrita University’s Technology Business Incubator (TBI) has committed $350,000 in seed funding for five promising start-ups, which were shortlisted out of 720 startups from across the country that participated in the fifth edition of annual PitchFest organised by it. The five winning start…
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Move over, IT: IIoT is the next big thing for MSMEs
Historically, the manufacturing industry and Micro, Small, and Medium Enterprises (MSMEs) have played important roles in the economic development of major economies of the world and in job creation. The report “Growing the global economy through small to medium enterprise: The G20 SME confe…
ERP implementation: Top five challenges for SMEs
Today, there are a wide variety of automation tools and techniques designed and devised to help SMEs and their employees produce their products better and more efficiently. There are excellent tools like Six Sigma Quality, Factory Automation, Design for Manufacturability etc with enormous potenti…
India to soon have a National MSME policy: Kalraj Mishra
New Delhi: The country will soon have a comprehensive policy for micro, small and medium enterprises, Union Minister Kalraj Mishra said. The country does not have an MSME policy till date. A one-member panel of former Cabinet Secretary Prabhat Kumar had submitted a report on formulation of a Nati…
Volatility & rising prices: The commodity rally is squeezing MSMEs
The recent rally in commodity prices has come about after a very long recession in this segment. Significant over capacities, lower global economic growth, curtailed demand from China, and a rising US Dollar had combined to consistently subdue prices for an extended period between mid-2014 till b…
RBI disappoints market, keeps repo rate unchanged
The Monetary Policy Committee of the Reserve Bank of India (RBI) on kept the short-term lending rate, called repo rate, unchanged at 6.25 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate…
BioAsia 2017 kick starts with announcement of Rs 3,382 cr projects
BioAsia, Asia’s largest biotechnology and life-sciences forum and the annual flagship event of the Government of Telangana, kicked off today at the Hyderabad International Convention Center (HICC). The 14th edition of BioAsia with the theme ‘Power of the Past, Force of the Future’, is expected to…
Ratan Tata to resume investing in start-ups
Tata Sons interim chairman Ratan Tata has said he would go back to investing in startups this month after handing over the reins of the Tata group to N Chandrasekaran, Managing Director and chief executive of Tata Consultancy Services (TCS), who will formally take over on 23 February. After retir…
Small business accounting: Why it is essential for SMEs to go for book keeping
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…