Q&A library

Our walk-in customers are nil. So we stared with making Idli and dosa batters. Home delivery. Over 2 weeks got full orders, now not many orders. How to help and suatain the business?
Questioned by Viswanath guoa, Maharashtra
Request for feedback from your customers as to why they are not buying from you again. There could be an issue with product, or your competitors are driving more value than you are.Offer free product and tasters to customers that can definitely convertTarget Societies and Apartment complexes. The product will sell fast there as they have higher disposable income and are more likely looking for home delivery solutions without going to a supermarket and buying.

Our business is down due to the Covid-19 scenario but we have existing business loans and vendor commitments to be settled. We tried to get financial assistance but couldn’t get any approval. Please suggest possible solution to overcome this situation.
Questioned by Poornachandra Tejasvi, Karnataka
Consult ways to improve your business using the current technologies or improvised methods so you can overcome the current crisis. There can be various reasons why your loan is getting rejected. The financial stability of the business is one among the many elements the banks consider before they sanction the loan. If your business has more expenses than income, it can lead for a rejection. Lenders generally check the personal credit score of the business owners while evaluating the application so kindly ensure if your credit score is high or low. Also, there can be other different factors like purpose of the loan, collateral security, repayment capability etc. Consider other initiatives like Angel Investors (Reach out to angel networks such as Indian Angel Network, Mumbai Angels, Lead Angels, Chennai Angels, etc. or relevant industrialists for this), Crowd funding (via online crowd funding platforms), bootstrapping etc. where you can get financial assistance

I am the owner of an Ayurveda treatment centre in Rishikesh and we have customers globally. We are providing health services but we want to expand our business in manufacturing health products. Please help us by providing the full information and details on how to start manufacturing, from licencing to registration on various platform. We are established in the state of Uttarakhand.
Questioned by Vikash Gangwar, Uttarakhand
The registration can be done under Ayush Department for ayurvedic preparations. This can considered as an approval subject to your products and services offered. Brand name registration comes under Intellectual property Act. You may take the support of a reputed Marketing agency for the same. Ayush department provides approval for manufacturing combinations of herbs in case of patented proprietary ayurvedic medicines. Supporting documents have to be attached with product approval file. Ayurvedic manufacturing companies can only prepare pre-approved herb combinations. If a new preparation has to be made, guidelines of Ayush department have to be followed. Generally you need to apply with the Medicine Brand Name of all formulations containing only such ingredients mentioned in the formulae described in the authoritative books of Ayurveda. You may contact the Ministry of Ayush at +91-11-23978046 or email at ncov2019@gov.in for in-depth details and procedures. For further guidelines and advice, visit https://www.ayush.gov.in/

Is MSME exempted from turnover clause in e tendering for central govt tenders?
Questioned by Abhimanyu, Maharashtra
Normally the Central Ministries / Departments have to ensure that criteria of prior turnover for public procurement is relaxed for all MSMEs subject to meeting of quality and technical specifications. However, there may be circumstances (like procurement of items related to public safety, health, critical security operations and equipments, etc) where the Central Government may prefer the vendors to have prior experience rather than giving orders to new entities. For such procurements, wherever adequate justification exists, the Central Government may not relax the criteria of prior turnover for MSMEs. In other words, the turnover relaxation for MSME is as per the discretion of the Central Government Department making the procurement

Our Company exports Inner garments and we have good orders coming in due to the recent issues with our neighbouring country. We are running short of sewing operators in our organisation. Also, to meet the new requirements we require financial capital assistance as well.
Questioned by Mohammed Aslam, Kerala
You can contact National Skill Development Corporation (NSDC) or Pradhan Mantri Kaushal Vikas Yojana (PMKVY) training partners for suitable resources. Both provide various skill certification scheme to a large number of Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood. This includes Apparel/Home Furnishing sector/industry curriculum. Individuals with prior learning experience or skills are assessed and certified under faculty training standards, quality assurance, technology platforms, and student placement mechanisms. Also you may go for referrals within your friends and family circle.You can also consider offerings by NBFCs - "Ashwas Dinam Gold Loan" and “Restart India Pradhan Gold Loan” provided by Muthoot Fincorp Ltd (MFL) for immediate capital funds.http://bit.ly/MuthootFincorpADGL & http://bit.ly/MuthootFincorpRIPLAlso, MUDRA loan is available through Banks/NBFCs/MFIs. It is advisable to start with the Bank where you already have an account/loan to get the approval easily. Loans are categorised into Shishu, Kishor and Tarun. Loans upto 50,000/- comes under the ‘Shishu’ category. Generally, loans up to Rs.10 lakh issued by banks under Micro Small Enterprises are given without collaterals.

We are a human resource company in Bihar, and we have a good team and fixed resources. When we have vacancy then we have no candidate and when we find candidate then there is no job for a period of time and the candidate move on. We want a fresh start from right now so that after Covid -19 we can stand in a better place. We need many information for restart. We need information in finding jobs. We need information on finding candidate. We need information on marketing and brand building and awareness.
Questioned by RITU RAJ, Bihar
We can expect a great boom in the recruitment turf post pandemic, since the companies will begin hunting for new resources/talents and there will many professionals/job seekers who will actively be looking for a job or a job change. If you want to start strong, you will have to use this time to prepare for the post-pandemic recruitment world.Developing a talent pipeline is one of the most strategic approaches to recruiting. Look for ways to make your brand meaningful and memorable, as this will make job seekers and clients much more receptive to invitations to connect. Invest some time on LinkedIn building your network. Use a personal note with every single invite you send and follow them up. Once an organisation posts a job on their job board, they could typically use some help from a recruiter to fill the role. Contact them and see if they can offer your recruiting/HR services. You may use your personal network of friends and ex colleagues for introductions. Also, always ask existing clients who they can refer you to. Follow them on social media and in the news. If they are bringing out a new product, opening a new office, etc. get in touch to see if this means they will be hiring. Also, new clients can be reached through an email marketing campaign and cold calling, but ensure that you have an attractive email template that highlights the quality of your business/services. Showcase your stories, achievements, testimonials, etc. Keep yourself and your business updated on the industry and clients industry. People prefer to connect with people they feel are similar to them so it makes sense to speak your clients’ language. Always prepare for face to face meeting as it builds relationship and trust and get the contracts signed easily. Provide them best candidates in shortest possible time frame. Remember first impression counts. Once position is closed, meet them and ask for feedback and for references. Tailor your recruitment technology (Recruitment tool/software) to speed up and improve your recruitment process. Make tie-ups with renowned universities and colleges to conduct workshops and seminars and get featured in campus newspapers/magazines. Digital media has become the main source for finding jobs today. Organize online talent hunt programs for students and professionals to participate and display their skills. Value the time of others as you value yours. Let the students, professionals not wait and contact them instantly as you scan through their profile and find them deserving. Speed up your recruitment services to avoid the risks of a delayed recruitment process. Use tools like Zoom, Google Meet and Skype to stay connected and take initial round of interviews/screening. Job seekers look for clarity in the job advertisements in terms of the profile, company history, pay scale, career opportunities etc. Provide a clear picture of every required detail in the job notification/calls and clearly communicate job requirements and how one can benefit from this role/profile.

Can I get finance on a used car?
Questioned by imran sayyed, Maharashtra
Opting for a used car loan is a smart, value-for-money purchase. In that respect various banks and other financial establishments are offering financial assistance for used vehicles. You may visit https://muthootcap.com/used-car-loan.php for more details.

I have not been getting any work till now, please advise me if there is any job? Have a jewellery loan with Bajaj Finance, now that the gold rates have now gone up will I get some finance to start any business?
Questioned by Sk Mostofa Ali, West Bengal
For starting up a new business, Pradhan Mantri Mudra Yojana Scheme (PMMY), provides non collateral loans up to 10 lakh to the non-corporate, small/micro enterprises. These loans are given by commercial banks, RRB’s Small Finance Banks, MFI’s and NBFC’s. The borrower can approach any of the lending institutions mentioned above or can apply online through the portal <www.udyamimitra.in> PMMY has introduced three products under MUDRA namely Shishu starting with 50,000, Kishore upto 5 lakhs and Tarun upto 10 lakhs to signify the stage of growth and development and funding needs of the beneficiary micro unit / entrepreneur and also provide a reference point for the next phase of graduation / growth. For all these loans the personal credit score is utmost important for availing the loan. Apart from this, collateral loans are available at NBFCs. Muthoot Fincorp has launched a special Gold Loan Scheme for businesses called "Ashwas Dinam Gold Loan". The features are, maximum loan value against gold, steady interest rate for 180 days, 24x7 online repayment options and reducing interest on daily payments. Also available is the “Restart India Pradhan Gold Loan” by Muthoot Fincorp Ltd. which provides maximum value for gold - 24*7 SMS loan top up facility, part redemption, cash reward for digital transactions and no hidden / pre-closure charges.Please visit your nearest Muthoot Fincorp branch or visit http://bit.ly/MuthootFincorpADGL and http://bit.ly/MuthootFincorpRIPL

I am a post graduate student and I want to start a computer coaching class institute. Please advise how to go about the same.
Questioned by Ramkrishna, Karnataka
Education is a good sector to be in but you need to bear in mind that many individuals might not be comfortable coming to an institute due to the current situation. You may want to explore the route of virtual classes and sessions for sometime. Invest in the right technology to do that. You can also have different batches based on experience level with respect to computers and age groups.

I am an entrepreneur who runs a textile export business which has a turnover of 19 Lakhs per year. Please suggest how I can avail loans to expand the business.
Questioned by GOLLA SRIKANTH, Andhra Pradesh
For export businesses, bank loans are available in the form of term loan and working capital. In addition to facilities like cash credit or letter of credit, banks can also extend the following types of bank loan for export business (1) Packing Credit or Pre Shipment Credit: Packing credit is a type of bank loan for export business provided to an exporter for financing the purchase, processing, manufacturing or packing of goods required to export from India. (2)Post Shipment Loans: They are sanctioned for an exporter from the date of shipment of goods or services to the date of realization of payment from the exporter. Therefore, the exporter would not have to wait for payment from the customer and can obtain funds from the bank on the shipment of the goods or service (3) Export Credit Refinance Scheme Reserve Bank of India (RBI) also provides export credit refinance facility to Banks on the basis of bank’s eligible outstanding rupee export credit both at the pre-shipment and post-shipment stages.

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