SMEs | Page 7

The important role played by MSMEs in the economy was even acknowledged in this year's Union Budget, which pressed upon additional credit support to this undercapitalised sector.

As such, the presentation of the Union Budget 2017 was preceded by a great deal of expectations from the public as well as various industries in the corporate sector.

The government proposed to reduce the Income Tax for those companies with an annual turnover of upto Rs 50 crore to 25%. This aims to give the MSMEs a reduction of 5% from the current applicable rate of 30 percent

With venture capital and angel investing ruling the investment scenario in recent years, many are unaware of micro-financing, which is becoming an increasingly popular and a viable option for small businesses.

Among soothers from the government is Prime Minister Narendra Modi's speech on the last day of 2016 providing sops to promote small business owners and farmers.

Time is apposite for the new and small businesses to be aware of the financial mistakes that they make all the time, to make the start-up ecosystem a sustainable one.

Once SMEs have the right tools, they can grow their business.

As the Industrial Internet revolution comes closer to reality, GE's Narayanan is helping drive the creation of new value with market facing innovation at GE Global Research working with the GE businesses & customers.

The figures existing in public with respect to MSME sector contribution to India's development are archaic.

Google launched 'The Digital Unlocked', a training program which is aimed at small and medium business enterprises.

Modi said he is overwhelmed by the public support post the demonetization of INR 500 & INR 1000 notes.

Small business entrepreneurs need to be smarter, wiser in ensuring market credibility in a limited budget.

This cloud integrated mobile-based interface is aiming to interconnect 60% of Indian retailers in an $800-billion sized Indian retail market.

Governments can also small businesses in improving digital capabilities by upgrading local connectivity infrastructure and introducing digital literacy programs that help firms boost their online presence.

With digital lending platforms offering working capital finance in a click of a button, these segments will be able to avail easy, instant credit and eventually drive up business volumes - Capital Float

Robots are applicable to data and document intensive processes that are repetitive in nature and are rules based.

The co-working space market has never looked at the needs of SMEs, MSMEs, CAs and lawyers who also require smaller and well-equipped office space

To do away with drudgery, millions of brands and startups are making an effective use of this conversational commerce tool.

Small business and start-ups do not consider security as a priority which is a dangerous trend.

Joyjeet Bose, Vice President, Sales and BES at Tata Teleservices, spoke to Entrepreneur Media about the hiccups faced by SMEs in adopting technology.

Having a backbone of support mentorship can be useful for entrepreneurs when it comes to steering the business from the infancy level to a profit-turning one.