Micro And Small Enterprises

PHDCCI seeks revival of credit linked subsidy for micro, small units

Industry body PHDCCI has approached the government seeking reintroduction of the Credit Linked Capital Subsidy Scheme to facilitate technology upgradation of micro and small enterprises. The scheme provided an upfront capital subsidy of 15 per cent subject to a maximum amount of Rs 15 lakh on institutional finance availed by the enterprises for induction of well-established and improved technology in the specified 51 sub-sectors/products. It was valid till 2019-20 and was discontinued thereafter. President of PHD Chamber of Commerce and Industry (PHDCCI) Saket Dalmia took up the issue in a letter to Union Minister for Micro Small and Medium Enterprises Narayan Rane last week. "We have been receiving feedback from our MSME members requesting us to take up the issue with the government for revival and reintroduction of the scheme as MSMEs still need this kind of financial support. We, therefore, earnestly request your good self to kindly look into this matter and initiate necessary ..

Micro and small enterprises corner 55% of total orders placed on GeM portal

Micro and small enterprises (MSEs) have cornered over 55 per cent of the total orders placed on the public procurement platform GeM since 2019, a senior government official said. The Government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all the central government ministries and departments. GeM CEO P K Singh said that the public procurement policy for MSEs mandates 25 per cent of buying of goods and services from these units and 3 per cent MSEs owned by women. "On GeM, MSEs have secured 55.2 per cent (Rs 1,41,887 crore) of total order value (Rs 2,57,263 crore) and MSEs owned by women have secured 8 per cent (Rs 11,373 crore) of the MSE orders. The numbers reflect inclusivity on GeM," Singh told PTI. Procurement of goods and services from government portal GeM has crossed Rs 1 lakh crore so far this fiscal on account of an increase in buying activities by different ministries and departments. The commerce ministry is also in

Volatile cotton prices, weak domestic demand hurt Gujarat's denim industry

Most MSMEs running at 60 per cent capacity as high input prices have also made exports costlier

After Covid setback, MSMEs owed Rs 10.7 trn in pending dues: Report

The share of micro and small enterprises stood at Rs 8.73 trillion, 80 per cent of the total pending amount

GST rule change for small businesses a game-changer for ONDC: Goyal

Goyal said another big advantage is for the small retailers who are very keen to engage with ecommerce

Govt approves guidelines for small business cluster development programme

The scheme aims at enhancing the competitiveness and productivity of micro and small enterprises by undertaking certain interventions

Economic upturn lifts credit boat in all segments in December: RBI data

Services sector shows traction on rise in loan to finance firms

Govt says Nalco playing key role in empowering micro and small enterprises

The Centre on Monday said state-owned Nalco has been playing a key role in empowering micro and small enterprises by providing modern and innovative platform NAMASYA

Special insolvency relief framework for Covid-hit MSMEs in the works

Such firms may be allowed to opt for pre-packaged deal

ShopG to expand to over 300 cities in India by 2025, onboard more partners

Social commerce company ShopG is scaling up its presence to over 300 cities in the country and onboarding more partners as it looks to tap into the multi-billion dollar opportunity in the segment. ShopG was founded in 2019 by Ankur Arora, Abhishek Mishra, Pranay Suwalka and Yogesh Nehra, and is backed by investors including Orios Venture Partners and RPSG Ventures. The company currently has 1,000 "community leaders" (local micro-entrepreneurs). "ShopG plans to acquire a consumer base of 40 million served by 5 lakh community leaders by 2025. The company's vision is to address the unfulfilled aspirations of customers and thereby, build a GMV of Rs 4,000 crore as ShopG expands to 300-plus cities across India," ShopG co-founder Ankur Arora said. The expansion will primarily focus on tier III and IV locations across states of Karnataka, Kerala, Tamil Nadu, Andhra Pradesh, Maharashtra and Madhya Pradesh. These include Mandya, Shimoga, Tiruppur, Salem, Tirunelveli, Kollam, Parbhani, ...

Not in India's DNA to be deterred by Covid, Ambani tells Zuckerberg

Crises are too precious to be wasted, as they present an opportunity for new growth, RIL chief Mukesh Ambani tells Facebook CEO Mark Zuckerberg. Read full transcript of the discussion

State-owned banks to help small businesses with loans in month-long drive

Banks will also consider requests from MSMEs for restructuring their stressed standard assets

Lenovo unveils ThinkBook laptops for small biz at price starting Rs 30,990

The devices are powered by up to 10th Gen Intel Core i7 6-core processor

Enterprise, education and eudaemonia

India needs and welcomes short-term fixes like the tax cut, but we must remember that this is jugaad economic planning

MSEs in car rentals fare better than tour and travel peers

Car rentals-focussed MSEs earned an average operating profit margin (OPM) of 20 per cent in the three years 2016 to 2018, compared with 14 per cent for those focussed on ticketing and hotel bookings

MSE sentiment index dips in September quarter despite efforts from govt

Within manufacturing, firms operating in segments such as auto components, metals and mining, chemicals and pharmaceuticals had a higher share of respondents with a good quarter

Micro and small enterprises remain upbeat on growth prospects

The index is based on a study carried out by CRISIL and Sidbi, which surveyed companies with a turnover of less than Rs 250 million

For MSEs, the promoter is the bank to bank on

Micro and small enterprises (MSEs) are typically promoter-driven, be it operations or financing. A CRISIL study of 6,000 MSEs shows that promoters contribute 50-60 per cent of the net working capital requirement - or twice what they are supposed to contribute - because of restricted access to formal financial institutions.Delays in receivables is a widespread affliction in the sector, which forces promoters to regularly infuse funds to keep the operations going and manage cash flow mismatches. While the Micro, Small, and Medium Enterprises Development Act, 2006, stipulates that receivables of MSEs must be limited to 45 days, CRISIL's analysis shows the average is closer to 65 days.Promoters have to also infuse funds during business exigencies such as unexpected spikes in raw material prices, foreign exchange losses, unanticipated large orders, or delays in insurance claims after calamities such as floods or fire or strikes - and ensure timely production and deliveries.Additionally, MSE