India has an estimated five crore small and medium enterprises (SMEs) that form the backbone of the economy. How will the implementation of the goods and services tax (GST) impact the sector, which contributes 50 per cent of the industrial output and constitutes India’s 42 per cent export earning…
Tag: SME
Expo for SMEs, ‘GONAT 2017’ in Hyderabad on July 1
In order to provide impetus to the micro, small and medium enterprises and start-ups, the Business Network International (BNI) Hyderabad chapter is organising a seminar and exhibition titled GONAT 2017 on July 1 at HITEX. The event will have a participation of more than 1,500 businessmen/entrepre…
Khadi to go places: Govt to open outlets outside India
The government is planning to open Khadi outlets outside India to push products made using the indigenous handspun fabric in the global markets. The MSME Ministry is discussing the proposal with its Commerce counterpart for opening Khadi outlets in Mauritius, South Africa, Dubai and Chicago. “We …
‘Leveraging Facebook can be one of the best bets for SME in Digital Environment’
Digital ecosystem today is in an exponential stage. Many small businesses are welcoming this change by leveraging the growth opportunities in this digitally driven world. A major component of this digitally driven world is the social media, especially Facebook. We all know how the recent travel o…
GST rollout: SMEs in a fix as major companies stop accepting products amid uncertainty
Ahead of the Goods and Services Tax (GST) rollout, small and medium scale enterprises (SMEs) in Pune find themselves in a tricky situation. Automobile manufacturers, the major customers of these companies, have stopped taking finished products from them amid the uncertainty over the GST slabs and…
4 days to GST: Firms stumble upon last-mile challenges
In the last-minute rush for GST-compliance businesses are stumbling upon challenges ranging from accountants’ fees to the need for new email IDs. At a meeting of small and medium enterprises (SMEs) in Noida last week, a businessman said his chartered accountant had increased fees from Rs 5,000 to…
GST rollout from July 1, but confusion still persists among auto & FMCG firms
With just days to go before India rings in a historic unified tax system, confusion reigns in many consumer-facing industries such as automobiles and packaged goods. While most agree that the unified goods and services tax (GST) would bring much-needed efficiency and long-term benefits, the rollo…
Resurgent requests govt to relax NPA recognition norms for MSMEs
Financial advisory services provider Resurgent India, has requested the government to extend non-performing asset (NPA) recognition norms for MSMEs to 180 days from the current three months period as they have been facing difficult time. The micro, small and medium enterprises (MSMEs) have had …
MP sets aside Rs 100 cr veture fund ‘MPVFL’ to nurture start-ups & SMEs
The Madhya Pradesh Government has rolled out a new venture fund Madhya Pradesh Venture Finance Limited (MPVFL). The venture fund has been established under the Madhya Pradesh MSME Fund Trust, with an aim to create an SME Innovation Fund. The SME Innovation Fund is the first fund raised under this…
GoDaddy launches email solution for Indian SMBs
Global internet registrar and web hosting company, GoDaddy, has announced the launch of its new Business Email Service for small businesses in India. According to the company the service will be made available to the SMEs in India for Rs 39 per month ($0.60 approx.) and will include all the featu…