Small And Medium Enterprises Smes

Small & medium IT firms hit by high attrition rate after lockdown: Survey

Small and medium IT companies are yet to recover from the impact of the Covid-19 induced lockdown because of the high attrition rate of their employees after upskilling, according to a survey. According to the survey by Micro Small and Medium Enterprises -Export Promotion Council (MSME-EPC), the highest attrition rate of 35 per cent is being seen in small and medium sector technology companies after the lockdown, in which skilled employees leave their companies for higher wages. After this, the attrition rate is 27 per cent in the services sector. Due to this, the hopes of returning to normalcy after the epidemic in these areas have been hit. Releasing the report of this survey of 700 IT units on Wednesday, D S Rawat, Chairman, MSME-EPC, said that a large number of employees in MSME sector companies are going to other companies for higher salaries after learning the work. Due to this, these companies are still not able to recover from the shock of the lockdown. Companies in the ...

Revamp of Credit Guarantee Scheme, limit on ceiling for guarantees enhanced

With a view to revamp the Credit Guarantee Scheme for Micro and Small Enterprises, Credit Guarantee Fund Trust for Micro & Small Enterprises (CGTMSE) issued guidelines regarding reduction of annual guarantee fee for loans upto Rs 1 crore from a peak rate of 2 per cent per annum to as low as 0.37 per cent per annum.

Tech SME sector revenue to reach $40 bn by FY30, says Nasscom report

North America accounts for 50-55 per cent of the Indian tech SME revenue with specific focus around niche cloud, AI, IoT, and SaaS products

Non-Covid services may boost hospital SMEs in FY23: CRISIL SME Tracker

Small and medium enterprises (SMEs), which account for 60-65 per cent of the health care delivery market, stand to benefit from the improvement

Fifth year of zero SME rights issues likely after Rs 100 cr mop up in 2014

Year 2017 first with nil funds raised; experts say easier routes of raising capital such as QIP driving down popularity of rights

Axis Bank launches 7th edition of knowledge summit 'Evolve' for MSMEs

The current edition is focused on the broader theme of 'Indian SMEs: Shifting Gears for Next Level Growth'

Credit to industry up 12.6% YoY in September; touches 100-month high

Apart from base effect, credit to industry got a big boost from MSMEs; among sectors, petroleum, gems & jewellery, engineering, iron & steel, and construction were key drivers

MSMEs can continue to avail non-tax benefits post re-classification: Govt

Micro, small and medium enterprises will continue to avail all non-tax benefits in their respective categories post re-classification for three years, the government said on Wednesday. The Ministry of MSME has notified that in case of re-classification in terms of investment in plant and machinery or equipment or turnover or both, and consequent re-classification, an enterprise shall continue to avail of all non-tax benefits of the category it was in before the re-classification for three years from the date of the such upward change. "This decision has been taken after due deliberations with MSME stakeholders and is in line with the Aatma Nirbhar Bharat Abhiyan. The Ministry of MSME, Government of India, has allowed those registered MSMEs to continue to avail of non-tax benefits for three years, instead of one year, in case of an upward graduation in their category and consequent reclassification," an official statement said. Non-tax benefits include benefits of various government

The bells of Dalal Street welcome nine new SME IPOs today; what are these?

The first nine months of 2022 have already seen 87 SMEs make their IPOs, earning a total of Rs 1,460 crore

87 SME IPOs hit primary market to raise Rs 1,460 crore in Jan-September

Strong performance of past IPOs spurred investors' interest, with 87 small and medium enterprises (SMEs) garnering Rs 1,460 crore through initial share-sales in the first nine months of the year. This was way higher than 56 companies that had raised Rs 783 crore through initial public offering (IPO) in the entire 2021, the industry data showed. Further, the remaining part of the year 2022 can see more mature companies accessing the platform. Moreover, tech-based and larger broking players can play a major role in developing the SME platform, Uday Nair, Director at Fedex Securities, said, adding, "overall the year is good for SME companies looking to raise capital from the exchange". "SME segment is not impacted by the bearishness in the market and investors are looking forward to the healthy pipeline of IPOs going forward, many companies have filed or planning to file their documents for listing on the BSE SME and NSE Emerge platforms," Prateek Jain, Director at Hem Securities, ...

ITeS sector's growth prospects in FY23 augur well for SMEs: CRISIL

In FY22 the ITeS sector's revenue logged 13-15% growth to about Rs 3.1 tn, riding on volume recovery across the three key segments - customer relationship management (CRM), knowledge, and transactions

Amazon claims to sale of 1 mn unique products of SMBs, startup in 36 hrs

E-commerce firm Amazon on Friday claimed to have recorded sale of 10 lakh unique products offered by small and medium business, startups etc from its platform during the first 36 hours of festive season sale. The company's festive season sale "Great Indian Festival" started from September 22 as it gave early access to paid users. The company said that its Prime users, who are paid members, grew 1.9 times than last year and 68 per cent of the total new sign ups were from Tier 2 and 3 cities. "It is encouraging to witness small and medium businesses, startups, artisans, women entrepreneurs offer a wide selection of products to our customer across India. We are humbled by the increase in new Prime member sign ups and customers shopping across categories as they trust Amazon as their preferred online shopping destination," said Manish Tiwary, Vice President & Country Manager, India Consumer Business, Amazon. According to Amazon, customers showed preference for television brands like ..

Twin headwinds lash SMEs in gems and jewellery sector: Crisil SME Tracker

The rise in the prices of gold will also curb demand, though it will support the revenues of SMEs

SME IPOs are outliers this year despite a sharp sell-off in the market

The stock prices of 47 companies that have listed on SME bourses this year are up 32 per cent on average

Our cost of funds is the lowest in the industry: Mintifi CEO Anup Agarwal

In a Q&A, Minitifi's co-founder and CEO Anup Agarwal talks about how it has enabled distributors and retailers to increase sales

Biz travel sees revival as OYO adds 1,250 new corporate clients since Mar

Small and medium businesses continue to contribute significantly to the business travel bookings as more and more people from this segment opt for physical interactions

Russian importers seek deals with small Indian firms to sidestep sanctions

Private players in Russia have met with potential suppliers in India's big cities and are opening specialised bank accounts at home for roubles-to-rupees transactions, with blessing of the two govts

MSME sector crucial for India's economic progress: PM Narendra Modi

The Union Cabinet approved a World Bank-assisted Rs 6,062 crore funding programme for the small and medium businesses to help improve their access to market and credit

Domestic demand to drive pharma SMEs' growth in FY22: Crisil SME Tracker

March-May 2021 was a particularly good period for Indian formulators due to exceptional demand for drugs amid the second wave of Covid-19 infections.

Algo rhythm: Small and medium-sized businesses path to cloud

83% of enterprise businesses say cloud solutions have helped their business recover from Covid-19