Time is something that is ever changing and with the changing times, the world also changes its course. With all these changes going on, we get several new opportunities and career prospects. 2016 was financially a great year, our nation achieved several things last year and it is time to make the current year a great one by continuing the works that we started last year. 2017 has brought with it several business opportunities and projections and it is our duty to choose the right path to achieve greatness.
MSME business is one of the finest business options in 2017 and it has come during dire times when the nation is trying to become cashless. Hence, starting a small business at the start of this year can be a real boon for you.
The country demands us to go cashless and the government is thereby promoting the cashless transaction as their biggest weapon against corruption. Though the topic is little much controversial but there is no doubt that the cashless transacts are going to be a real help for all the MSME business owners in this current financial year, so if you are planning to start your own business then this is the perfect time to do so.
How will the cashless transactions be helpful in MSME Business?
Maybe you have asked yourself this question several times, let us clear this one for you. Going cashless will help you to keep your monetary dealings transparent which in turn will help you to get low interest business loans. With this drive for going cashless, it will be easier for a small business to avail the business loan more than you can even guess. Previously there were so much of paperwork and harassments involved in the process of getting your loan sanctioned by a bank but the process has become very easy since you can get your loan sanctioned within few days all thanks to NBFC’s. Do not be surprised, as this is the very reality; all you need to do is to keep your transactions clean or transparent to get your small business loan sanctioned.
New Government Policies
Business finance has become very easy and in this year it will improve more and the main reason behind this rapid improvement is the implementation of robust government policies. Moreover, there are several non-banking organizations in the market and they are collaborating with the banks or financial organizations to extend the helping hands to the small or medium business ventures. You will easily be able to find an online lending company without any hassle which will help you to build your own position in the market. The numbers of start-ups are also likely to increase this year in the metropolitan or cosmopolitan cities due to the facilities that are available there for the small or medium business ventures.
Expansion of Demographic
The competitiveness of the manufacturing industry is also increasing rapidly and the development is acuter in the big Indian cities like Pune, Kochi, Chennai, Delhi-NCR, Kolkata, Mumbai, Chandigarh, Bengaluru, Hyderabad, and Ahmadabad. The service tax structure of the country has also been reviewed and launched in an all new structure which promises to be very helpful for the SMEs. If you have a business of electronic goods, building materials or automobile parts then you will enjoy the best advantages since the central excise duty has been reduced significantly. Moreover, the tax on the purchase as well as the advertisement is also going to be reduced in the upcoming days.
2017 is the year when the small and medium business owners will be able to avail skilled workers, reliability on the energy usage and cost competitiveness, which are most important in ensuring the success of any business. Moreover, with the Government’s MAKE IN INDIA initiative the industry standards and policies are improving rapidly. Thus, if you want to start your career in business then now is the right time to get started and achieve success. Do not stop yourself growing in this thriving market. When you have got all the benefits then make good use of it. It is time to start peeps!