Over the last few years, several nations across the world have understood the importance of the small and medium industries in boosting the economy of the country. SMEs have gained great attention recently and the several surveys conducted, indicate that SMEs have the potential to make the economy grow and keep it balanced. The biggest advantage of SMEs in a country like India is generating employment and boosting the nation’s GDP.
There are over 50 million SMEs in India both registered and unregistered which is 95 % of the industrial units in India as a whole. This accounts for 38% GDP. SMEs are responsible for 106 million employments i.e. 40 % of India’s total workforce and produce around 6000 products.
In developing economies like India, strengthening SMEs ensures that the purchasing power of the poor and middle-class section of the society experiences a great uplifting and also that the tremendous difference between the middle class and upper-class section of the society is reduced. SMEs play an important role in the development of the economies across the urban as well as the rural sections of the country. Small and medium scale enterprises have been creating a surge in employment in various sectors as well.
What limits the growth and development of SMEs in India?
The growth and the need to develop SMEs are very crucial for the economy for various reasons. But often these businesses are not able to sustain or grow due to financial limitations at various stages. In India, … Read More
The concept of the internet and digital economy has influenced various processes that are witnessed on a daily basis. From shopping for all your daily needs from e-merchants to planning for your vacation online, the internet has eased and made things much more convenient than ever before. The rapid growth in the popularity of the internet has caused the banking and lending industry to also move towards digitization. This instituted the foundation of various Fintech companies. Fintech which is better known as financial technology has aided funding corporations to now offer loans through the internet, which means, now getting a business loan would not require you to spend hours standing in long queues, holding documents just to apply for one.
However, the concept of online funding is relatively new to Indians because of which the majority of them still prefer the traditional approach of applying for loans rather than online loans. This is because they assume online business loans may not be a safe option. However, this is a myth that needs to be uprooted. So let us look into some facts that confirm why online loans are very safe to apply for?
Your Information is always kept safe: Whenever you apply for an online business loan, your lender would keep your personal credentials safeguarded with them. This information is only used by the lender in order to proceed with verification of your loan application and is never given out to 3rd parties for strengthening their insights on you.
Online … Read More
Each time that you look through the line items in your corporate budget there is only cost which stands high above the rest. It’s the cost of running your customer service department. And while you may not like the idea of paying so much, the truth is that customers aren’t likely to keep buying your product if you don’t provide a level of customer service.
The next organic thought for a business owner or CEO is to simply outsource the department and see an immediate reduction in costs.
And while it’s true that you can expect to see a cost reduction, there are many other aspects to consider, such as the ones below.
You Won’t Receive the Same Quality of Staff
Internal customer service centers are known for their high quality of staff. And while this isn’t always required to perform the role, it is beneficial when dealing with social nuances and irate customers who require a little more attention and care than a script on the screen can provide.
While the quality of staff you will receive through an outsourcing model will be adequate to do the job you need, that is all they will be able to do. All of the additional tasks that you relied on them to complete will no longer be done. Instead, you will receive only an agent who can perform the task and follow any scripts or prompts.
Outsourcing companies are able to do this through detailed research and interview techniques to enable … Read More
A marketing strategyis a key component of your business success. It includes such important aspects as identifying your target market and figuring out your competitive position in that market. Also, it includes your tactics of reaching that market and being different so to make the sale.
Your marketing strategy should meet certain qualities so to effectively convert customers and help your business be more successful. If you need a marketing business loan, consider turning to a reputable business loan provider like First American Merchant. FAM is an award-winning payment processor that specializes in the high risk sector.
Here is what you should focus on when developing a killer marketing strategy:
- Your Market
Define your target market. Don’t offer products to everyone, otherwise, you may end up with losses. Take into account the gender and age factors of your target customers, as well as their likes and dislikes and purchasing power.
- Your Product/Service
Offer specific products/services for a target group of customers. Explain the benefits of the offered products to your customers. By narrowing down your target audience, you’ll be able to market more effectively.
Have everything in numbers. Use a timeline and determine proper dates for all major and minor details.The results of each activity included in your marketing plan will help you easily measure ROI. Have a solid goal of reaching a certain amount in a certain period of time.
When starting a new business, focus both on short-term and long-term marketing plans, and make them interconnected.You … Read More
Often we hear that running a business that is not an easy matter, especially to be successful in it, will certainly require long struggle pretty hard at doing. The statement is certainly very true, it would take a long wait which accompanied many hurdles in running the business.
Not infrequently the culprit stopped in the middle of the journey of despair, and the incident was not a bit of that experience. Moreover, if the business actors came from the novice to the world of entrepreneurship, they are often difficult due to lack of experience.
Which in said business the easiest here is according to several factors, such as in the case of capital to start it is not too large, minimal competition, also target the consumer market that is easy to get as the forex trading business. You can see some possible opportunities that onMib700.
Here are some business opportunities that are easy and simple to run, even so when on the run with serious and consistent results can not rule out a big enough benefit.
Currently, there are many local and foreign brokerage firms are prepared to provide access to forex trading platforms like Mib700. There are various facilities offered by brokers are one of them is free forex trading. Thus beginners will not feel the loss if defeated at the first opportunity the transaction.
At first glance we remind you that the forex trading business opportunity is the international trade system to the … Read More