Businesses need to facilitate trading, both internationally and domestically, using certain financial products and advances. Any such instruments, which aid in this trading process, can be termed as trade finance. As per a report, around 80%-90% of the trade at present rely on trade financing. As you may have already guessed, trade financing is an…
Category: business
Working Capital Challenges On The Horizon For The Automotive Industry
At the onset of the nationwide lockdown due to the Coronavirus in March, India’s automobile industry came to a standstill. Valued at around $57 billion, this segment petitioned the government for financial aid in the form of a moratorium on loan interest payments and working capital support. As it is, several small and medium auto…
Everything Businesses Need To Know About Interest Waiver For A Moratorium By The Government
To deal with the damaging effects of the ongoing economic crisis, the government has undertaken several initiatives to aid businesses to find their footing. Among these, one of the most crucial steps has been granting an interest waiver to eligible businesses. Borrowers with existing loans of up to Rs. 2 crores are eligible for an…
Top Marketing Strategies For Logistics Companies
Time is money This particular concept serves as gospel for companies that deal in logistics. Essentially, the primary function of these companies is based on their time management and proficiency in delivering goods on time. While quality speaks for a brand, sometimes logistics companies need to promote themselves to reach out to more customers. In…
How Are SMEs Reducing Their Business Costs And Increasing Efficiency With Technology?
When compared to large and medium businesses, SMEs often require a little extra helping with funding. However, it is not always possible for them to access funds readily. So, as an alternative, they resort to cost-cutting to bring down the overhead expenses. But how much of operating expense can a business really cut down? Consequently,…
GST E-Invoicing Mandatory For MSMEs From 1 October
An assortment of borrower-friendly schemes, assistance to MSMEs, and above all, digitalisation, has significantly contributed to India’s business environment. As per the Ease of Doing Business Report 2020, India ranked 63rd, a stride forward by 14 places from 2019. To further this trend, the 37th GST council has introduced a system of e-invoicing under GST…
QR Code Payments: Now Only Via UPI Apps
Open the app. Scan. Pay. The simple three-step process has become the cornerstone of digital payments in India. The introduction of the QR code has cultivated a healthy culture of consumerism, and eased how merchants received their payments by leaps and bounds previously. But, there arose a problem. With several Payment System Operators (PSOs) and…
5 Products That Will Be In Demand After Pandemic Ends
A topsy-turvy economy, in-tatters stock markets, halted education, overhauled social dynamics – the pandemic has had a leviathan impact on all things life, globally. The Indian economy contracted by 23.9% in Q1 2020 – 21, for the first time in 24 years, when lockdowns nationwide were at their strictest. However, this situation also has its…
How Has Fintech Given Invoice Financing New Legs To Stand On?
The Fintech market in India is expected to reach a value of more than Rs. 6200 billion by 2025, highlighting the immense potential for this sector. As internet penetration increases with each passing day, technology seems to determine how every company functions. Additionally, technological advancement has now started leading the way to newer and more…