Small and Medium Enterprises (SME) form the backbone of the Indian economy and contribute immensely to the GDP numbers. As per the annual report of MSME ministry 2017-18, the sector, which has a vast network of 63.38 million enterprises, contributes more than 28% to the GDP and employs around 111 million people. In terms of volume, the SME sector stands next to the agriculture sector.Thus, the role of the sector cannot be emphasised enough, and if given the right push, it has the potential to contribute even more. MSME Minister Nitin Gadkari said in the years to come, it will be his endeavour to raise the contribution of the MSME sector to the country's GDP to 50%.Visit the website at irisgst.com or EasybizClose That said, one of the ways that SMEs can grow further is through a digital transformation where business owners are willing to use the latest technology in their daily operations to drive efficiency, accuracy, innovation and reduce turnaround time. Although SMEs … [Read more...] about Here’s why SMEs should go digital to grow their businesses
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Depending on the sort of entrepreneur, employee, freelancer, or company leader you might be, the year ahead holds varying degrees of promise and pitfalls. Some of the changes afoot are already affecting some more than others. advertisement advertisement But optimism is itself a strategic asset–as long as it’s backed up by a strong grasp of the facts. With that in mind, here’s a look at some of the business trends that seem most likely to impact professionals of all stripes in the year ahead. 1. The Gig Economy Creates More Opportunities Increasing numbers of skilled professionals are driving the growth of the gig economy. And while there are those who ultimately expect that growth to level off, it doesn’t appear ready to do that within the next few years. A 2015 Freelancers Union survey of over 1,000 American workers found that 34% had done freelance work over the past year, and about 60% of those who had received 25% or more of their income from … [Read more...] about Five Business Trends To Watch In 2016–No Matter How Or Where You Work
Editor’s Note: This story is part of our feature, “Secrets of 13 of the most productive people.” See the complete 2018 list here. advertisement advertisement Our objective is that you’ll press the button on an Instant Pot, and dinner is cooked. But for us, it’s a lot of work. How do we make sure that the press of the button creates the results that the consumer wants? In the morning, I reserve time for collaborative meetings, whether it’s with the executives or the product management team. The morning hours are not always enough. Sometimes I have to skip lunch. My afternoon is more focused on individual projects. I have about a dozen in development, even though you just see a small portion that we launch in the market. Then I work with the product and test it. Most of the tests don’t require food, because you just need to measure temperatures and temperature curves. Then I go home to spend time with the family, doing a little bit of … [Read more...] about How Instant Pot designer Yi Qin makes top-selling products
When I started my software company, we received more job offers than what I could realistically handle. At the time, I thought that the best thing for me to do would be to say yes to them all and reframe the situation as a challenge to conquer. It worked for a while—but eventually, I got to the point where the only growth that I could pursue was scaling the business for more clients and more employees. advertisement advertisement That vision wasn’t particularly inspiring for me. I wanted my name associated with things that people used every day. I wanted to build things that created utility. But I couldn’t see any growth opportunities for myself in the future of this company. In other words, I’d hit a plateau. So I decided to take a step back and reinvent myself. During this time, I learned that when I always have my nose to the grindstone, I have no time to reflect and strategize long-term. Hitting a plateau allowed me to refresh my viewpoint, … [Read more...] about You’ve hit a plateau in your business or career. Now what?
My 4-year-old daughter Serena will be 30 in 2041. Assuming that she has a college degree and eight years of work experience, how might she fare in a world dominated by contract workers, fluid teams, human-centered work, persistent pay gaps, blurred work-life boundaries, and biases that have been around since the beginning of time? Well, let’s investigate. advertisement advertisement 1. International Competition Serena was born in 2011, the year the U.S. birth rate dipped to its lowest recorded level. As the U.S. birth rate keeps trending below 2.0 births per woman, that doesn’t mean young women will face less competition for school acceptance and jobs in the coming decades. Instead of vying with other Americans her age, my daughter will fight for a place among hyper-qualified professionals from around the world. While her generation struggles to support the population of adults over 65–projected to triple by mid-century–it will face a global talent … [Read more...] about 6 Workplace Realities Women Will Face In 2040