In India, Micro, Small, and Medium Enterprises (MSMEs) are the backbone of the country’s economic growth, generating employment and contributing significantly to the GDP. However, accessing credit has often been a significant challenge for such enterprises, especially for startups and small-scale businesses. This is where responsible lending plays a transformative role. At LendingKart, responsible lending […]
The Income Tax Act of 1961 classifies businesses into speculative business and non speculative business categories, depending on their nature. Businesses with incomes heavily dependent on a specific outcome or probability are termed speculative, whereas all the others are termed non-speculative. The income and losses from speculation business in income tax are treated differently
Securing financial funds is necessary to make any project/business successful. For small business owners and naive entrepreneurs, understanding the compelling format for a project report is essential. This comprehensive guide entails all the key components that can make your project report for business loan stand out. We’ll discuss every aspect in detail so that
In the current digital-first world, building a brand is no longer about spending big on advertisements or celebrity endorsements. For Micro, Small, and Medium Enterprises (MSMEs), social media provides a level playing field to connect with audiences, build credibility, and create lasting relationships, all without spending a penny. Whether you have just completed your
What is a Trade License? A trade license is a certificate issued to an applicant seeking to open a business permitting him/her/them to commence business in a given area/location within the particular municipal/corporation limit. This license permits the applicant to commence and operate the business, as mentioned in the application. If the applicant wishes
What is a CIN number? Corporate Identification Number, commonly known as CIN number, is a 21 digit alpha-numerical code that is uniquely provided to One Person Company, Public Company, Private Company, limited liability partnership, governmental organizations government companies, non-governmental organizations, not for profit organizations and so on which are registered by the Registrar of
Introduction ISBN in its full form means International Standard Book Number that is used to identify commercial books. It is a unique identification number that currently consists of 13 digits amongst 5 divisions whereas before 2006 it consisted of 10 digits. ISBN is used by publishers, libraries, authors, education/research institutions and booksellers for the
Business registration proof is a fundamental requirement for any business entity that wants to operate legally and establish credibility in the eyes of its stakeholders, customers, and suppliers. A business must operate lawfully and access various government services and programs. Without proper registration, a business may be unable to access government services, obtain loans
To determine the profitability of one’s business, it is important to calculate the break-even point. The Break-even point is the point where your total expenses match the total revenue, a point without any profit or loss, i.e. break-even. To put it in layman’s terms, the point where you finally recover all the capital costs
Factors That Led to the Growth of NBFCs in India The transformation of Non-Banking Financial Companies (NBFC) in India in the past few years plays an important role in growth of Indian Financial system. NBFC’s have emerged successful as compared to Banks as their customized product offerings help individuals with their financial needs. NBFC
If you have ever engaged in a conversation about the economy or progress of a country, then you might have heard the word ‘industry’ being thrown around quite often. This is because a country’s industrial operations serve as an important benchmark to gauge the level of economic growth in it. But this begs the
