Month: April 2021

Categories
Business motivation

Stand-Up India Scheme: Banks Sanctions Rs 25,586 Cr to 1.14 Lakh Stand-Up India Accounts To Promote Entrepreneurship Amongst Women, SC & ST Category

Women Entrepreneurs in India (Photo Credits: Pixabay)

With an aim to promote entrepreneurship among women, the government announced that banks have sanctioned Rs 25,586 crore to about 1,14,322 beneficiaries under the Stand Up India Scheme in the last five years. There is a large group of potential entrepreneurs particularly women and Scheduled Caste (SC), Scheduled Tribes (ST) who want to set up an enterprise of their own, which allows them to grow and thrive. Such entrepreneurs are spread across country and are bubbling with ideas on what they can do for themselves and their families.

Aspiring SC, ST, and women entrepreneurs are energetic and enthusiastic but may face challenges in converting their dream to reality. Recognizing these challenges, the Stand up India Scheme was launched on April 5, 2016. The scheme aims to promote entrepreneurship at grassroot level focusing on economic empowerment and job creation. This scheme has been extended up to the year 2025.

The objective of Stand-Up India is to promote entrepreneurship amongst women, Scheduled Castes (SC) & Scheduled Tribes (ST) categories, to help them in starting a greenfield enterprise in trading, manufacturing and services sector, by both ready and trainee borrowers.

About Stand Up India Scheme:

  1. Under the scheme, bank loans between Rs 10 lakh and Rs 1 crore are provided to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks.
  2. Started in April 5, 2016, the scheme has benefited 93,094 women entrepreneurs with outstanding loan of Rs 21,200 crore as of March 23.
  3. This scheme, which has been extended up to 2025, covers SC/ST and/or women entrepreneurs, above 18 years of age.
  4. In case of non-individual enterprises, 51 percent of the shareholding and controlling stake should be held by either SC/ST and/or Women Entrepreneur and borrowers should not be in default to any bank/financial institution.

 

Categories
Business motivation

11 Must-Read Books To Inspire Every Entrepreneur in 2021

Books (Photo Credits: Pexels)

Being an entrepreneur is a tough job and it gets even tougher if you are not as experienced as others. Your knowledge about the business might not be at the same level as those who have been in the field for twenty years. No need to worry, if you have a high teachability then you will be fine.

One of the best ways to obtain knowledge is through reading. New books are published every minute that will help you grow in business and in life in order to become a successful entrepreneur. Here are a few books that will prepare you for the future.

  1. How to Win Friends and Influence People by Dale Carnegie
  2. The Startup of You: Adapt to the Future, Invest in Yourself, and Transform Your Career by Reid Hoffman
  3. Who Moved My Cheese? An Amazing Way to Deal with Change in Your Work and in Your Life by Spencer Johnson
  4. Solving the People Problem: Essential Skills You Need to Lead and Succeed in Today’s Workplace by Brett M. Cooper and Evans Kerrigan
  5. Crawl, Walk, Run: Advancing Analytics Maturity with Google Marketing Platform by Michael Loban and Alex Yastrebenetsky
  6. Own Your Career, Own Your Life: Stop Drifting and Take Control of Your Future by Andy Storch
  7. Rich Dad, Poor Dad by Robert Kiyosaki and Sharon Lechter
  8. Courage to Lose Sight of Shore: How to Partner with Private Equity to Grow Your Business with Confidence by Kelley W. Powell
  9. Business Model Generation by Alexander Osterwalder
  10. My Philosophy for Successful Living by Jim Rohn
  11. The Hard Thing About Hard Things by Ben Horowitz

Every entrepreneur’s journey will have different challenges, but learning from someone else’s experiences never hurts. Take your time to read these books and learn about your next big step.

Categories
Business motivation

Planning To Grow Your Business Online? Here Are 4 Budget-Friendly Hacks That You Should Know

onlline business

Mumbai, April 6: Businesses are becoming seriously competitive these days with innovative ideas and everlasting creativity. Many companies try to fight for their piece of the market share, but are unable to do so. The reasons for which may be numerous. You need to find your way to improve your business and making your business flourish and shine online is one of the best strategies you can use.

The most important thing that you need to keep in mind is to pay attention to customer relationship management, especially during the ongoing pandemic. To grow your business online, you’ll have to create a digital marketing strategy that will help you accomplish your goals and reach a wider audience.

  1. Make a simple and easily navigable website: It is very important that your readers know what your products look like. You should keep in mind that you have to choose a design which your audience will be able to understand. Don’t clutter the website with too much information. Just keep it simple and precise. People should be able to view the website properly on desktop, mobile, tab and other platforms.
  2. Plan good content: Content is the heart of any website. You will be known by the content you generate. One needs to focus on SEO and a good content marketing strategy for the business to fetch a larger audience. Remember, a good and attractive website will draw the audience to your website, thus helping you reach your target audience easily without much of a hassle. You can have blogs as well, by sticking to your niche and educating people about your category.
  3. Make Full Use of Social Media: Social media sharing is growing like never before. Almost all social media channels have huge marketing potential. Therefore, it is important to know how to use it. You should keep in mind that you need to be consistent, engage with your customers efficiently and be a solution provider.
  4. Customer service: This is the crux of any business, which means it the heart of any business whether we were trying to grow your business online or offline. Without great customer service that responds quickly to customer queries and complaints, your business will never survive. Make sure you deliver your products efficiently and are easily accessible to your customers if need arises at any time.

We hope these growth hacks for the online platform is useful for your brand.

Categories
Business motivation

Economic Impact of COVID-19 Second Wave Minimal So Far: Crisil Research

Marketing Strategies| Representational Image (Photo Credits: Pixabay)
Marketing Strategies| Representational Image (Photo Credits: Pixabay)

According to Crisil Research, the economic impact of the second wave of novel coronavirus has remained minimal so far in India with less stringent restrictions. “Few countries have escaped a second wave of the Covid-19 pandemic and it is India’s turn now, with daily cases crossing the previous peak of September 2020. And this wave is spreading faster than the first, though with a lower fatality ratio,” Crisil said in a statement.

“Initially concentrated in Maharashtra, new cases are slowly dispersing to other states, which have seen some dip in mobility towards end-March. So far, though, the economic impact remains minimal, with localised restrictions. Maharashtra, the worst impacted state, has introduced somewhat stringent restrictions that will temper mobility and contact-based services,” it added.

The statement added that mobility at the all-India level has remained nearly unaffected ever since a boom in cases since mid-February. However, mobility in Maharashtra is beginning to weaken.

From March 29 to April 4, the covid cases surged from 68,000 to over 1 lakh. Of the total cases during the same period, Maharashtra accounted for 55 percent of new covid-19 cases. Even though Gujarat, Chhattisgarh, Madhya Pradesh and Punjab accounted for fewer share, these states witnessed the highest growth rate in new news cases after Maharashtra.

Categories
Finance

Pradhan Mantri Mudra Yojana Business Loan Scheme: How to Apply for Mudra Loan Online/Offline?

Pradhan Mantri Mudra Yojana | Representational Image (Photo Credits: File Image)
Pradhan Mantri Mudra Yojana | Representational Image

Micro Units Development and Refinance Agency (MUDRA) is a loan scheme for small businesses initiated under the Pradhan Mantri Mudra Yojana (PMMY). Under this scheme, the non-corporate, non-farm small/micro enterprises can get a loan up to Rs 10 lakh. The loans are provided by private banks, RRBs, Small Finance Banks, MFIs and NBFCs. In this article, we will discuss the process of applying for MUDRA loan online and offline. MUDRA Loan: Eligibility Criteria And Documents Required.

PMMY is classified into three loan categories, named Shishu, Kishor and Tarun. Under the Shishu scheme, one can get a loan of up to Rs 50,000. Under the Kishor scheme, one can get a loan from Rs. 50,001 to Rs. 5,00,000. Under the Tarun scheme, the loan can be between Rs 5,00,001 and Rs 10,00,00. MUDRA Loan Explained: All About Pradhan Mantri Mudra Yojana Loan For MSMEs.

How to Apply for MUDRA Loan Online?

To apply for a mudra loan online, applicants need to visit the official website of a private sector bank, NBFC, commercial and Co-operative bank, RRB and MFI.

Download the mudra loan application from the bank’s official website.

Fill the form and submit it along with the required documents.

Wait for the bank’s representative to call and complete the required formalities.

Once the application and attached documents are verified, the loan shall be disbursed by the bank.

Online application for Mudra loans can also be submitted on the Udyami Mitra portal (www.udyamimitra.in).

Steps to Apply for Mudra Loan Offline:

Applicants are required to visit commercial or private sector bank

The applicant should submit a self-written business plan

Submit the loan application along with all the required documents such as address proof, identity proof, company’s address, etc.

Once the application form and documents are verified, the loan shall get approved.

The Pradhan Mantri Mudra Yojana was launched by Prime Minister Narendra Modi on April 8, 2015. Those eligible to borrow from MUDRA Yojana are shopkeepers, small manufacturing units, Artisans and Fruit and vegetable vendors.

Categories
Finance

India Attracts More Than $72 Billion FDI In The First 10 Months of FY21

Growth in FDI | Representational Image (Photo Credits: Pixabay)
Growth in Revenues | Representational Image (Photo Credits: Pixabay)

Despite the worldwide outbreak of COVID-19 pandemic and subsequent lockdown, India managed to attract over $70 Billion worth of foreign direct investment between April 2020 and January 2021. During this period, an inflow of $72.12 Billion was rerecorded in terms of FDI, around 15 per cent higher from the amount received during the corresponding time in previous financial year. The country received a sum of $62.72 Billion between April 2019 to January 2020. 3 Top Investment Schemes in India to put your money at!

The Foreign Direct Investment’s equity inflow also increased during the same duration as compared to the corresponding period in financial year 2019-2020. “The trends show that the FDI equity inflow grew by 28 per cent in the first ten months of F.Y. 2020-21 ($54.18 Billion) compared to the year ago period ($42.34 Billion),” said the Ministry of Commerce and Industry. “These trends in India’s Foreign Direct Investment are an endorsement of its status as a preferred investment destination amongst global investors,” it added.

Out of the total FDI inflow, Singapore accounts to over 30 per cent.”In terms of top investor countries, ‘Singapore’ is at the apex with 30.28 per cent of the total FDI equity inflow followed by USA (24.28 per cent) and UAE (7.31 per cent) for the first ten months of the current financial year 2020-21,” said the Ministry of Commerce and Industry. Japan is also one of the leading FDI investors in India.Yes Bank Targets Startup Sector, Ties Up With GVFL To Support the Growth of Indian Startup Ecosystem.

As per the data, the consultancy service sector attracted the maximum foreign direct investment of around 21.80 per cent of the total. In the second spot Computer Software and Hardware services received 15.96 per cent, followed by service sector with 13.64 per cent. “The Computer Software & Hardware has emerged as the top sector during the first ten months of F.Y. 2020-21 with 45.81 per cent of the total FDI equity inflow followed by ‘Construction (Infrastructure) Activities’ (13.37 per cent) and ‘Services Sector’ (7.80 per cent) respectively,” it said.

Categories
Business motivation Startup

Startup Nurturing Platform India Accelerator Plans To Select 100 Startups for Seed Funding in 2021

Startups (Photo Credits: Pexels)

New Delhi, April 5: In a bid to nurture and encourage the startup ecosystem in India, start-up nurturing platform India Accelerator has planned to expand its start-up portfolio by over three-folds in 2021 with investment in around 100 such ventures. Reports inform that the company invests Rs 25 lakh in select startups every year, provides guidance and connects them with other investors as they mature, India Accelerator founder Ashish Bhatia told PTI.

According to a PTI report, Bhatia said the company is close to launching SEBI-approved alternate investment funds both for category 1 angel fund and category 2 venture capital fund, which will be providing more funding opportunities for startups. The founder of the firm said that during the COVID-19 pandemic the company has expanded footprint to select startups from across India and is now planning to launch its programme overseas as well in Dubai, Africa, Singapore, London and USA.

Here’s how India Accelerator (IA) has helped startups in India

  1. India Accelerator (IA) had invested in around 30 startups in 2020.
  2. According to TiE report, there are around 38,000 active startups in the country, out of which 26 are unicorns.
  3. Bhatia said that IA has partially exited from five startups with up to six-fold return on investments.
  4. Reports inform that the startup ecosystem in India had attracted USD 14.5 billion of funding in 2019.
  5. Since August 2017, IA has selected around 70 companies for acceleration. In 2020, IA has closed 27 funding transactions and around two-third of portfolio companies have raised their follow-on round of funding.
  6. During the COVID-19 pandemic the company has expanded footprint to select startups from across India and is now planning to launch its programme overseas as well in Dubai, Africa, Singapore, London

“While Accelerator programme is the core foundation for the success of our startups, there are other critical pieces needed to help grow a startup, these (new funds) help us in expand even further — to new geographies and in other domains, thus helping us to move forward with our target of picking up 100 high-pot startups every year,” Bhatia said.

“Covid was of course unplanned disaster, a lot of startups sank. Nevertheless, it helped us move to remote areas. Earlier you heard about startups from NCR, Jaipur, Rajasthan, Gujrat, they only could come and apply. Now we are mentoring startups from Kerala, Chennai, West Bengal, we have become a pan India entity,” Bhatia said.

Categories
Startup

Yes Bank Targets Startup Sector, Ties Up With GVFL To Support the Growth of Indian Startup Ecosystem

startup ipo india

Mumbai, April 4: With an aim to help startups, lender Yes Bank has tied up with GVFL Limited to broaden its services for the start-up sector. The two companies have entered into a Memorandum of Understanding (MoU) to strengthen Fintech-led innovation and support the growth of the Indian startup ecosystem.

Under the pact, the MoU will enable the bank to offer various products, digital banking solutions, and many other facilities that will benefit the startups associated with GVFL Limited, Yes Bank said in a statement. The bank will offer its curated digital transaction banking product suite, including its flagship API-based offerings to startups and FinTech companies.

Furthermore, the MoU would promote innovation and investments across India by leveraging the capabilities of GVFL and the Yes bank, the statement added.

Categories
Startup

Amazon Launches ‘AWS Space Accelerator’, A Business Support Programme, To Help Space Startups Grow

Startups (Photo Credits: Pexels)

San Francisco, April 3: To give a major fillip to startups across the world, Amazon Web Services (AWS) has rolled out the ‘Space Accelerator’ to help and encourage the startups. The Space Accelerator is a four-week business support programme to help space startups grow. The programme is open to space startups seeking to use AWS to help solve the biggest challenges in the space industry, the company said. c

About the ‘Space Accelerator’ programme:

  1. The programme will provide technical, business, and mentoring resources to space startups around the globe.
  2. AWS is offering this opportunity in collaboration with Seraphim, a London-based investment group focused exclusively on the space industry, who will provide business development and investment guidance.
  3. AWS and Seraphim will select a cohort of space startups to participate in an intensive, four-week programme with AWS Cloud and technical training to help them accelerate research, development, and growth using AWS.
  4. The AWS said that the applications are already open and proposals are due by April 21.
  5. AWS and Seraphim are accepting applications from innovative startups at all stages of maturity working with space technology or space-derived data who have a clearly defined and unique mission.

Clint Crosier, Director of Aerospace and Satellite at AWS, said in a statement said that Startups provide a catalyst for bold new experimentation in the space industry.  “We are proud to announce the AWS Space Accelerator as part of our ongoing commitment to help startups succeed, and to shape the future of aerospace. We look forward to helping the first cohort of companies launch and grow through this new programme”, Crosier said.

The AWS said that qualifying missions can include, but are not limited to, earth observation, electronics and robotics, spacecraft launch and delivery, spacecraft hardware and software, launch manufacturing and launch operations, and more.

 

Categories
Startup

SMBs in India To Get Major Boost As Microsoft and Intel Help Empower SMBs With New Range of Modern Devices

Businesses in India (Photo Credits: Pexels)

New Delhi, April 3: With an aim to empower small and medium businesses (SMBs) in India with modern devices, Microsoft and Intel has announced the availability of a range of Windows 10 Pro devices powered by the Intel vPro platform. The new range of modern devices aims to provide SMBs the agility for adapting to a constantly changing world. Microsoft and Intel understood the significant challenges that SMBs face with computer systems, which are more than four years old, in terms of performance, productivity, security and manageability, and inked a pact to help them.

Farhana Haque, Group Director – Devices, Microsoft India, said that the new modern Windows 10 Pro devices powered by the Intel vPro platform will give employees the tools to work confidently. “The new line of modern Windows 10 Pro devices powered by the Intel vPro platform will give employees the tools to work confidently and securely and help them rise to any challenge. Improving workforce productivity, enhancing security and reducing overall costs are top of mind for SMBs and refreshing older devices periodically can truly help them do more,” Haque said.

Here’s how the collaboration aims to help Indian SMBs:

  1. Windows 10 Pro devices powered by the Intel vPro platform would help seamless multitasking across apps by up to 35 percent faster.
  2. It would help in using applications remotely without issues and also increases overall performance by up to 40 percent.
  3. New Windows 10 PCs are a highly strategic investment for SMBs to succeed in the modern workplace.
  4. “Intel’s vPro platform brings unmatched performance, comprehensive hardware-based security, connectivity, and remote manageability, solving for critical IT pain points and to meet the evolving needs of employees,” Roshni Das, Director – Marketing, Intel India, added.
  5. Some of the latest features in the new devices include hardware-to-OS security reporting for enhanced security of devices, identities and long-lasting battery life that can help power through the day.

In a bid to protect the safety and health of every person and honouring its commitment to environmental sustainability, Microsoft partners with recycling organisations, joins forces with collection schemes, and works with supply chain partners to facilitate the return and end-of-life management process of devices, batteries, and packaging.