What Is The New Government QMS/QTT Scheme For MSMEs In India?
QMS/QTT scheme is an initiative by the Ministry of Micro, Small and Medium Scale Enterprises in India. Quality Management Standards/ Quality Technology Tools scheme is launched to enable the manufacturing sector in India to be competitive through the checks. The QMS/QTT scheme is launched under NMCP- National Manufacturing Competitiveness Program. The objective of the MSME QMS/QTT scheme is to encourage the MSMEs to adopt the latest quality policy. The other objective is to keep a watch on the sectoral development. Benefits of QMS/QTT Scheme also read: how udyog aadhaar registration can be can be cancelled in 4 steps? This scheme is
Read moreWhat Are The Consequences Of Filing Late Income Tax Returns?
There are many taxpayers in India who are in the habit of paying their income tax returns late. There is a penalty levied on the individuals who file their income tax returns late by the Income Tax Department of India. There are other consequences as well in addition to the penalty. An income tax return is filed by the individuals to save taxes. And ITR is required to be filed by every salaried individual and businessman. ITR helps the taxpayer to reduce the taxes. However, there are certain rules that the taxpayers have to follow. And one such rule is
Read moreWhat Are the Tips For Managing Working Capital For A Service Business?
It would not be wrong to call working capital the lifeblood of a service business. Managing working capital properly is very essential for a service business in India as otherwise, it can affect the business and cash flow adversely. Additionally, the working capital should not only be managed by businesses suffering losses but also the one which is profitable. Inventory Management also read: what is the best business finance loan for a service company? Inventory management is the most important aspect for a service business as meticulously-made inventory can hit the business hard. Notably, a large inventory can take a huge
Read moreHow To Manage Working Capital For A Manufacturing Business?
Working capital is the most important asset of a manufacturing business as it affects the long-term financial health of the business. So, proper management of working capital is very important in order to sustain a healthy cash in-flow. Let’s take a look at 5 important and effective working capital management tips for a manufacturing business. Pay on Time also read: 5 ways to cost cutting without affecting small business gorwht A disciplined method of paying suppliers and vendors on time help in developing a strong relationship with them. And as a result, the manufacturing business owner would stand on the ground
Read more5 Ways To Do Cost Cutting Without Affecting Small Business Growth
Trimming unnecessary expenses and cost-cutting helps the business become lean and more efficient. This further leads to small business growth and greater profit generation. But it is also important to ensure that cost-cutting does not demotivate employees and negatively impact the commitments. So while planning for cost-cutting, it is important to plan it in a way that it does not risk small business growth. Let’s take a look at 5 ways to cost-cutting: Outsource Task also read: what financial habits will help in managing business growth? A successful business requires a team of skilled employees who know how to perform work
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