Tags Posts tagged with "Budget"

Budget

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You should know that there is nothing more thrilling than giving an identity to something you formed, out in this highly competitive world. Bringing out your business in the market is an interesting, entertaining but at the same time a challenging and rewarding part. From this you can make this out that your future is really in your own hands. Ensure that you work really hard to attain success.

Taking out this mask of an “easy” image of your business, this is really important for you to notice that apart from all its positives it also has some negatives. There exist some bleak actualities that you need to know. You just need to know on how to face these challenges while running your business in order to make it a hit amongst your competitors.

Ÿ Finance Management

In order to let the small businesses survive cash flow is mandatory. It is the most vital component of a business, whether small or big. Entrepreneurs specially engaged in the small businesses face this financial issue. The main problem that stands here is “delayed payments”. Whenever you serve any of your customer, then the payment made by him/her may take a couple of days. Under these couple of days you have to pay your bills, hire employees, and give salaries and incentives to your employees. All this has to be done by you, whether you pay them from your pockets or business’s old earnings.

Ÿ Time planning

   The major obstacle faced by a small business entrepreneur is the “time management”. A small business has to work on so many products and the clients of varied nature that it many times fails to manage the time effectively. If you’d have more time, you’d have acquired more work and money. You just have to be smart enough on how to manage time and planning every task/operation accordingly. Managing your time leads to making money.

Ÿ Hiring staff members

The hiring procedure of the employees may consume a lot of time of yours. It includes examining your aspirants’ resumes, taking their interviews, mailing them the confirmation etc. After all this is done the only thing left with you is hoping that you can provide the best salary package and take out the best employee for your business to start working and take your enterprise to great heights. You just have to focus in how to build up the relationship between the boss and the employees.

Ÿ Impoverished Budget

Your cash budget seems fine, does it? But are you fully satisfied with this? One of the major problems for a small business is that even if your cash flow is doing fine you do not have enough budgets to take your company to its full potential. You need to spend your money in the areas where there are worthy to be spent. You can save the cash and keep it for all the other miscellaneous and operating expenses in the near future. Spend in those operating areas where you are sure of or are expecting the returns and ensure you are never in a loss.

Ÿ Choose what to deal in

   You should know what to sell. Just seek out in the market and see what your competitors are dealing in and what different and unique you can do to stand out in the crowd. You can examine the tastes, preferences and the trending things among your target customers. If you are weak in identifying the prosperous niches then choose the person who is stronger in this area to work on. You don’t need to spend a huge amount of money in this, just hire a freelance researcher who is an expert in the field you are interested to work on.

 

Thus, having a look at the above pointers you can conclude that an entrepreneur either of a small business or a big enterprise has to face many challenges while struggling to get his business to the new heights. Just keep this mind, you are not the sole person who is struggling there are much more like you but you can seek the help of people who can take you out of the darkest days of your struggling to the brightest day of Success.

 

 

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This year’s Economic Survey contains the mid-term economic analysis that is usually presented in December. Just one day prior to the Economic Survey, the Finance Minister presented to Parliament the Medium-Term Expenditure Framework statement FRBM Act, 2003.

According to the Economic Survey, India has moved to a low inflation trajectory, given that current inflation at 1.5% is running well below the 4% target.

The data presented suggests that both the consumer price index (CPI) and the whole-sale price index (WPI) have risen quickly in July mainly due to food inflation and the housing index reflecting the 7th Pay Commission recommendations, and so did the core index. Analysts now expect the inflation to rest at the 4%, which is the RBI target.

Deflationary pressure generates from fiscal tightening by States due to Ujwal DISCOM Assurance Yojana (UDAY), farm loan waivers, declining profitability of some key sectors like power and telecom, the shadow of unresolved twin balance sheet problems and transitional issues of the GST. The key to Macroeconomic stability is continued fiscal rectitude and inflation targeting. The Economic Survey cautions policymakers of a possible deflationary cycle.

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Modi government has advanced the presentation of the Budget by one month

Modi government has advanced the presentation of the Budget by one month, it has removed the separate Railways Budget and it has merged the two categories of “planned” and “non-planned” spending.

According to the Part I of the Economic Survey presented at the beginning of Budget session, growth for fiscal year 2016-17 was 7.1%. Its deflated value is due to demonetisation. Survey implicitly blames the high interest policy of the RBI for thwarting industrial growth.

According to it, the continuing deflationary trends rise from:

  • Lower investment ratio.
  • Low farm prices.
  • The cutting back on development spending by State governments.
  • The twin balance sheet problem.

The Survey mentions Uttar Pradesh which had to slash its development spending by 13% in order to waive the farm loan.

However, the situation at the Centre is improving. Exports are positive. Four major reforms are taken:

  • GST.
  • A new insolvency and bankruptcy code to deal with NPAs.
  • A new monetary policy framework.
  • Aadhaar linkage.