The government’s rescue scheme for Micro, Small and Medium Enterprises (MSME) amidst the COVID-19 crisis is not performing up to the expectations. Small businesses contribute around 25% to the Indian GDP, therefore working on their health is the government’s top priority. To cope with the aftermath effects of the pan-India lockdown on the MSMEs, the …
Under the Credit Guarantee Scheme, Loans to MSMEs are Diminishing Read More »
The COVID-19 pandemic brought along financial challenges for many economies and institutions. A major force behind driving the Indian economy, Micro, Small & Medium Enterprises (MSMEs) also faced a setback. During the lockdown, with working from home and minimized contact, the need for digital payments grew in India. Digital payments were once an option for …
MSMEs to shift towards digital payments for economic recovery Read More »
Businesses are to be made responsible entities. To make them more serious about their contribution to society, the ministry of corporate affairs (MCA) has presented a new system called Business Responsibility and Sustainability Report (BRSR). A move for corporates to report all non-financial disclosures under the same single source. It is an improvised version of …
Startups may have to contribute towards India’s Sustainability Goals Read More »
The government has decided to extend the ECLGS scheme to include individual entrepreneurs. This is a move to cover the lag in the economic growth caused due to Pan-India lockdown and the COVID pandemic. Individual entrepreneurs head more than 6.3 crore Micro, Small and Medium Enterprises (MSMEs), and larger companies across India. Under this scheme, …
Emergency Credit Line Guarantee Scheme(ECLGS) to cover individual entrepreneurs Read More »
Medium, Small and Micro Enterprises (MSMEs) are the strength of the Indian economy. The sector alone contributes to 30% of the GDP and 40% of the total exports. In alignment to the Make in India vision, the government had taken several steps to support MSMEs. Starting with allocating USD Dollars 1 billion to the MSME …
Insolvency and Bankruptcy Board of India (IBBI) has proposed a new framework for micro, small and medium enterprise (MSME) insolvency resolution process, reducing the time limit to less than 180 days. The plan aims to focus on making the procedure more cost-effective, quicker and easier allowing the debtors to continue running the business while allowing …
Insolvency resolution: Cheaper, faster and easier process on cards for MSMEs Read More »
The new process of registration of Micro, Small and Medium enterprises has come into the effect by the name of Udyam Registration. The MSME ministry also said that an MSME in India will now be called as Udyam as the term is more closer to the meaning of an enterprise. To do this registration, filing …
Startup funding in India dropped by 29% in the first half of 2020. In 2019 the first half, the total funding raised by Indian startups was $5.9Bn as compared to $4.2 Bn in the first half of 2020. This drop is largely due to the impact of the coronavirus pandemic, according to the data by …
Startup news: Startup Funding down by 29% in First half of 2020 Read More »
It’s a known fact that a COVID19 has had a great impact on MSMEs. Most MSMEs are struggling hard to survive and many have shut down. As per this report by the ET, about 35% of the MSMEs in India have shut their shops. To everyone’s relief, the World Bank on Wednesday said that it …
Funds will be used for expanding reach of the platform and adding Freelancer friendly financial services. Bengaluru based startup, Refrens.com, has raised funding from a group of angel investors including Vijay Shekhar Sharma (founder of Paytm) and Anupam Mittal ( Founder of Shaadi.com). Launched in July 2019, Refrens.com offers a free invoicing, payments and expense …
A study conducted from data of 1000s of freelancers. Delayed and Partial payments are becoming the norm. We studied the impact of COVID-19 on the freelance community. The study was conducted on the thousands of invoices managed on the Refrens.com platform. The key trends discovered in the study are related to payment delays for freelancers. …
2000+. Yes, that is the latest number of deaths estimated world wide due to Wuhan Corona Virus. The biggest virus outbreak post SARS in 2003 (which incidentally also originated from China) has not only caused severe health related concerns but has also jolted businesses (or at-least the way they operate) in more than one way. …
Corona Virus: 5 Stories To Understand The Impact On Business. Read More »
