Why 2017 is a better year for MSME business than 2016

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MSME Business in 2017

Time changes continuously because it is an eternal element. The changing phases of time always bring something new, some unique career prospects for us. We welcomed and celebrated the current year with great enthusiasm. But the time is asking us to welcome the next with more passion and enthusiasm. Yes, a brand new year is set to begin which is coming with more career projections. MSME business is one of the finest projections it is bringing for us in a time when the country is demanding us to be cashless. The prospects of starting a small business in the last quarter of this FY could be a better career option for you.

Also read: Biggest Myths About Of Small Business Loans

MSME businessThe cashless transaction is turning to be a gift for you if you are planning to start a business in this financial year. It will keep your transactions clean and transparent which is certainly going to help you in getting low-interest business loans. The job of availing a loan is going to be easier than your imaginations. You could avail a funding for your startup business within a period of six minutes. It is surprising, but true. Financing a small business is much easier now, but it will be in a better shape in the coming year. The implementation of flexible government policies is a great reason behind it. Non-banking financial companies are also coming up for adding their contributions. The combination of both the things is making the loan availability easier. You won’t be facing many problems in finding an online lending company to help you in the establishment of your business project. Metro and Cosmo cities are offering a wide range of lending options to the aspirants of business. The number will rise in the next financial year, for sure.

Also read: Huge Market Size Is Playing A Crucial Role In Moving The Manufacturing MSMEs In India

Demographic structure and manufacturing competitiveness are the other elements which are continuously growing in India; especially in the cities like Pune, Kochi, Chennai, Delhi-NCR, Kolkata, Mumbai, Chandigarh, Bengaluru, Hyderabad, and Ahmedabad. Goods and Services tax has been launched in a new shape, and the new shape brings a lot of things that are beneficial for micro, small or medium business ventures. It is more advantageous for you if your business is based on cement, cars, car batteries, paint, air coolers, water heaters, washing machines, fan, lights, refrigerators, and other electronic items. You will be awarded a reduced percentage of Central Excise Duty. In addition, purchase tax and advertisement tax are going to be minimized with the movement of time.

The growth and movement of a small business are also based on the things like cost competitiveness, skill availability, and reliability in energy policy. More flexibility is waiting for you if you are thinking to start a business career in 2017. Besides, the competitiveness of industry standard policies is on a rise with the upbeat flow of Make in India initiative. India’s ease of doing business is gradually growing its position. It is expected to be on the borderline of 100 before the end of coming financial year which is definitely an appealing prospect for you, as the owner of an MSME business.

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