The centre will operate as a one-stop shop, aggregating financing options from various major financial institutions

CII sets up online finance centre for SMEs in Himachal

BS Reporter

CRISIL has studied the performance of 120 micro, small and medium enterprises (MSMEs) rated by it in the automobile dealership space, to understand their dependence on external funding in 2013-14 (financial year April 1 to March 31). The study indicates that these MSMEs are highly leveraged, as the nature of business requires stocking of vehicles (inventory), which in turn necessitates heavy reliance on financial institutions (FIs) to fund a substantial portion of their inventory funding requirements.Inventory comprises about 45 per cent of their total assets and FIs contribute about 80 per cent of the inventory requirement through short-term financing. The rest is acquired on credit from original equipment manufacturers (OEMs). Therefore, prudent working capital management is vital not only for growth, but also for survival. Due to their high dependence on external borrowings to finance inventory, interest rate changes have a direct impact on the profitability of these MSMEs, thus aff

Funding inventory a challenge for MSME auto dealers

Business Standard

ceramic

The ceramic industry in Morbi, as it faces a downturn in business because of weak demand from the real estate sector

Weak real estate sector hits ceramic industry hard

The water has receded at many places, but entrepreneurs may not be able to resume work this season

Floods leave J&K's small industry devastated

To enable small and medium enterprises (SMEs) to access finance and credit with greater ease, the Confederation of Indian Industry (CII) has started an 'Online Finance Facilitation Centre for SMEs'. The objective of this centre is to provide advisory and credit facilitation support to SMEs. This centre will operate as a one-stop shop, aggregating financing options from various major financial institutions.Rajender Singh, director - industries, government of Himachal Pradesh, formerly launched the facilitation center for SMEs in Himachal Pradesh on Saturday at Baddi.This Centre is designed to match SME financing demands with banks and financial institutions. SME members across India can approach this centre through an online interface for their credit requirement and the centre will facilitate the SMEs with documentation and preparation of bankable project proposals."Access to finance and credit for SMEs is big problem and this facilitation center will help the SME fraternity immensely,

Credit access facility for SMEs in HP

We have exported certain goods through EDI port under claim of duty drawback at all-industry rates. The Customs allowed the shipment but raised some queries. Due to some problem at our end, we had misplaced the query. When we discovered that the drawback amount has not yet been disbursed, we enquired and learnt about the query from Customs which remains un-replied from our end for the last two to three years. Does this delay make the drawback claim time-barred, as per law?As per Rule 13(5) of the Customs and Central Excise Duties and Service Tax Drawback Rules, 1995, where the exporter has exported the goods under electronic shipping bill in Electronic Data Interchange (EDI) under the claim of drawback, the electronic shipping bill itself shall be treated as the claim for drawback and there is no need for filing separate drawback claims. As per Rule 13(2)(a) of the said Rules, "if the said claim for drawback is incomplete in any material particulars or is without the documents specifie

'Electronic shipping bill shall be treated as claim for drawback'

The Confederation of Indian Industry has launched an initiative, 'CII Startupreneurs', to promote and nurture entrepreneurs and start-ups in Chennai. The lobby group will conduct the event on November 24 this year, to create a meeting place for select start-ups to meet industry leaders and high net worth individuals (HNIs).Startupreneurs will feature an exposition, scheduled for November 24 in Chennai, with the aim of showcasing innovative ideas, emerging technologies and new business models of start-ups and budding entrepreneurs. It will also create an opportunity for start-ups to meet leading industry figures and potential venture capitalists to raise capital for their business, CII Chennai said.The organisation has launched a website and will invite applications from around 1,000 start-ups in Chennai. Of this, it will select the 100 best start-ups, including from schools, colleges and other educational institutions, some of which are already operational, said Anand P Surana, who lea

CII launches initiative to support start-ups

The Union cabinet has made a budgetary provision of Rs 581.22 crore for the scheme

Centre's new scheme likely to benefit SMEs

The findings are based on responses from 125 high net-worth individuals and 125 family businesses based across 29 countries

Family businesses need funding from HNIs, says study

This comes amid the backdrop of MSMEs finding it increasingly difficult to attract diploma holders from ITIs, who prefer to take up jobs in large companies

TN to train 25,000 people under skill-building scheme in FY15

One-to-one interaction aimed at on-the-spot resolution of investment issues

Akhilesh Yadav to meet industry once a month

CRISIL has studied the growth performance of 493 micro, small, and medium enterprises (MSMEs) rated by it in 2013-14 (financial year April 1 to March 31). The study indicates that MSMEs with a diversified customer base, differentiated product/service profile, and a widespread geographic outreach have a higher compound annual growth rate (CAGR) of 23 per cent, with average sales growing to Rs 2,172.78 lakh in 2013-14, from Rs 1,443.61 lakh in 2011-12. In comparison, enterprises with customer, product or geographic concentration had a lower CAGR of 19 per cent, with average sales growing to Rs 1,595.94 lakh in 2013-14, from Rs 1,134.00 lakh in 2011-12.This trend appears to be more common in private limited companies, with 80 per cent showing one or the other form of diversification, as compared to proprietorship and partnership firms, of which 70 per cent showed diversification. The study thus indicates an inverse relationship between MSME growth and concentration - enterprises with a wi

Diversification gives MSMEs edge over peers

ISB's initiative is expected to help persuade more entrepreneurs to seek the benefits of government programmes and adopt global best practices

ISB to lift small units out of low-income trap

Power2SME, a buying club for small and medium enterprises (SMEs) in India, today announced that it has raised Rs 42 crores in Series C funding from its existing investors, Accel Partners, Kalaari Capital and Inventus Capital.The funding will help the company to further expand across the country, enabling it to reach out to more SMEs, enhance its product portfolio, diversify its sourcing channels and increase focus on imports, it said in a press release.R Narayan, founder and CEO of Power2SME, said, "The decision of all the three investors to reinvest in our business is a testimony of the fact that they have huge confidence in the success and scalability of our business model."The Gurgaon-headquartered company began operations in early 2012 and now has six offices and over 150 employees. It works closely with SMEs to pool their raw material demands, enabling them to benefit from the power of collective buying. This allows SMEs to obtain the most optimal pricing for their procurement nee

Power2SME raises Rs 42 cr in funding

Indian small and medium enterprises (SMEs) are looking to the cloud, analytics and mobile solutions to improve operations and become more efficient, according to a new research report by Circle Research, according to a press release issued by enterprise application software company SAP, which sponsored the research.The rising ambitions of SMEs and the expectations of the market itself are forcing them to completely reconsider traditional business models and adopt cutting edge technologies like cloud, according to the research study, which is based on interviews with 800 senior decision makers in SMEs with up to 1,000 people.The research yielded four key findings. First, SMEs recognise the value of cloud and have begun their transition. Ninety per cent of SMEs in India feel cloud adoption is increasingly important for enabling business success. The adoption of cloud is helping them to innovate. Additionally, 87 per cent of very ambitious Indian SMEs believe enterprise applications, anal

90% SMEs in India look to cloud solutions for efficiency

The option of setting up industrial units on agricultural land is both cumbersome and time-consuming, since it takes several months and even years to get the necessary clearance

Scarce industrial land a major problem in UP

The market capitalisation of small and medium enterprises (SMEs) listed on the BSE SME platform touched Rs 7,860.9 crore at close of trading today. The number of companies actively traded was 20.There has been a lot more activity on the bourse these days with more companies listing, taking the total number to 65, according to a post on the web site of the Federation of Indian Micro, Small and Medium Enterprises (FISME). Among firms waiting to be listed are Amsons Apparels, JLA Infraville Shoppers Limited, Naysaa Securities, and Powerhouse Fitness and Realty Ltd.BSE commenced the SME platform in March 2012 and in this period of over two years, BSE has achieved more than 90 per cent market share, helping Indian SMEs create a market capitalisation of more than $1 billion.The average IPO size on the BSE SME is close to Rs 9 crore per issue.The BSE SME Platform offers an entrepreneur an investor-friendly environment, which enables the listing of SMEs from the unorganised sector scattered th

Market cap of SMEs on BSE crosses Rs 7,800 crore

With a view to empowering MSMEs to take advantage of the competition laws in India, the Federation of Indian Micro, Small and Medium Enterprises (FISME) and Hindustan Unilever Limited have jointly initiated a nationwide campaign to create awareness about the rights and responsibilities of small businesses under the Competition Act, according to a newsletter issued by Knowledge & News Network (KNN), a media platform for MSMEs.FISME recently organised two sessions on competition law and compliance in Bangalore, covering topics such as unfair trade practices, cartelisation and monopolies.The first session was held with the Association of Women Entrepreneurs of Karnataka (AWAKE), and the second was held with the Federation of Karnataka Chamber of Chambers of Commerce and Industries (FKCCI).Mukesh Kalra, a FISME official, who represented the federation at the sessions, said the initiative had been undertaken because awareness of competition laws was essential if MSMEs were to protect th

FISME, HUL to create competition law awareness

The move is expected to benefit about 3,000 MSMEs in the next three years

Sidbi associate firm to help MSMEs save energy

With a view to giving a major boost to the MSME sector in the state, the Uttar Pradesh Cabinet has approved the public procurement policy and set up a toll free number for entrepreneurs to register complaints about such procurement.It has also approved an electronics manufacturing policy under which three clusters will be set up to encourage manufacturing of electronics products, according to a post on the web site of the Federation of Indian Micro, Small and Medium Enterprises (FISME).The Uttar Pradesh Cabinet headed by state Chief Minister Akhilesh Yadav made several announcements on Friday.The UP cabinet has approved the public procurement policy, launched by the Central Government on March 23, 2012, under which all Central ministries/department/PSUs will procure a minimum of 20 per cent of their total annual purchases from micro and small enterprises (MSEs).The state government said that e-procurement will be encouraged in the state, and details about the procurement have to be man

UP government nod to public procurement policy

The programme is being sponsored by Bombay Stock Exchange's SME platform, Andhra Bank and Canara Bank

Workshop on online mktg for SMEs

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