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 […]
But here’s the thing nobody tells you: you don’t need a mountain of cash to start. In fact, some of the most successful businesses in India began with less than what you might spend on a new smartphone. With just ₹50,000, you can plant the seeds of something meaningful and explore low investment business
If you are a business owner, MSME certificate renewal is essential for businesses to continue availing government benefits under the Udyam registration system in India. Many entrepreneurs often search for UDYAM registration renewal, but the process is slightly different from traditional renewals. In reality, businesses need to perform a Udyam registration update instead of
As part of the ever-growing medical domain, doctors must always have the best technology to offer patients the best care possible. Besides the latest equipment, doctors running private practices require funds to meet everyday expenses, upgrade facilities, and expand. Negligence due to lack of funds can cost patients. Medical professionals can turn to MSME
MSME 45 Days Payment Rule The MSME 45-day payment rule was introduced by the 2023 Finance Act, under section 43B(h) of the IT Act, to regulate payments due to businesses that come under MSMEs and ensure timely settlements. The newly established rule states that any payment due to MSMEs, if paid during the timeline
If you own a Micro, Small, or Medium Enterprise in India, getting your MSME Udyam registration is one of the smartest decisions you can make for your business. Introduced in July 2020, the Udyam Registration MSME system has revolutionised how small businesses access government benefits, loans, subsidies, and growth opportunities. Whether you’re running a
NIC code, short for the National Industrial Classification Code, is a unique identification number assigned to different industries in a country. This classification code is crucial in determining your business type, including the main and sub-sector your company comes under. As of now, the NIC code list has 21 main divisions ranging from A
