The Union Government declared recently that it is working on the credit guarantee scheme for the MSME sector that was announced in the Budget statement in July 2024, intending to implement the scheme in the Budget for the year 2025-26. The scheme shall provide a risk-free credit guarantee of up to Rs. 100 crores to … Government Plans New Credit Guarantee Scheme for MSMEs, Inspired by ECLGS
Certifications are important for a Business because they signify that the business complies with certain quality or operational requirements needed for obtaining that particular certificate. Additionally, rather than talking good about yourself in stating that “I comply” with so and so standards, it is always better to receive third-party validation in “they have certified that … How ZED Certification Can Transform Your MSME
In the year 2006, the government came up with the Micro Small and Medium Enterprises (MSME) Act with the objective to increase the competitiveness of the businesses that operate on a smaller scale and boost local economies. Small businesses, due to their limited resources and reach, face numerous issues in obtaining funds, accessing markets, and … Understanding the MSME Act: A Guide for Small Businesses
Goods and Service Tax (GST) was introduced in India in 2017 to replace all preceding taxes applicable to the sale of goods and services. It is an indirect tax levied upon the final consumption of goods and services, meaning that a business can make up for the tax they pay for purchases by charging tax … GST Registration: Know Everything About the Goods and Services Tax
India offers a variety of business structures, each with distinct characteristics, setup processes, and regulatory requirements. Choosing the right structure depends on factors such as the scale of operations, the number of stakeholders, capital requirements, and long-term business goals. Below, we explore these structures in detail. Proprietorship A proprietorship is the simplest form of business, … Understanding Different Types of Business Structures in India: Setup, Requirements, and Regulations
Micro, Small, and Medium Enterprises (MSMEs) are the lifeblood of many economies, including India’s. They account for a significant portion of employment, innovation, and economic activity. Yet, many MSMEs struggle with financial planning—a crucial factor that can either limit their growth or propel them to new heights. In the face of competition, market volatility, and … Financial Planning is the Backbone of Growth for MSMEs: How Strategic Planning Fuels Business Success
Micro, Small, and Medium Enterprises (MSMEs) are widely recognized as the backbone of the Indian economy. With over 63 million MSMEs contributing around 30% to India’s Gross Domestic Product (GDP) and employing millions of people, the sector is crucial to India’s growth story. A significant part of this sector that holds immense promise is food … Scope for MSMEs in Food Processing To Boost Farmer Incomes, Reducing Wastage, and Creating Jobs
Micro, Small, and Medium Enterprises (MSME) play a crucial role in India’s economic landscape, contributing significantly to industrial output, employment generation, and exports. As of the latest data, MSMEs account for over 45% of India’s total industrial output, making them the backbone of the country’s industrial sector. The relevance of MSMEs to the Indian economy … MSMEs Power Over 45% of India’s Industrial Output: Driving Growth, Employment, and Innovation