India Inc prepared for GST rollout from July 1

GST has been finalised after a collaborative and consultative approach and we look forward to its introduction," Confederation of Indian Industry Director General Chandrajit Banerjee said.

Industry body CII said India Inc is ready for the GST implementation from July 1, as the new indirect tax regime will contribute significantly towards economic growth, job creation and exports expansion.

"GST has been finalised after a collaborative and consultative approach and we look forward to its introduction," Confederation of Indian Industry Director General Chandrajit Banerjee said. "GST is the most significant indirect tax reform introduced in the country since independence," he added.

The industry body is organising over 100 workshops across the country to enable enterprises to comply with the new regulations. The workshops are expected to reach out to around 5,000 enterprises.

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Global Lecture Series 2017

Following the success of the first four editions of Shell Lubricants Global Lecture Series at Imperial College, London; Tsinghua University, Beijing, IIT Madras and IIM Bangalore, Shell Lubricants, the global market share leader in finished lubricants organised the 5th edition of the lecture series in collaboration with the Confederation of Indian Industries, at IIT Delhi to envision and deliberate on the theme “Greenovation- The Future of Mobility”. Key experts from the government, industry and companies shared ideas on commercially viable, environmentally sustainable and affordable fuel choice. The discussion aimed at analysing the prospects of the future mobility and how green innovation can help to achieve energy security.

Addressing the 5th edition of the Shell Lubricants Global Lecture series, Mansi Madan Tripathy, Country Head -Shell Lubricants India Cluster, said, “Through the Shell Lubricants Global Lecture Series, we aim to partner with companies and academic groups to overcome the most exciting technological challenges. The program is in line with Shell’s philosophy of innovation and collaboration and connect well with Shell mission of powering progress together to provide more and cleaner energy products and solutions. 

It is an excellent opportunity for sharing insights with thought leaders in the industry and getting to know their perspectives on the future mobility debate. To give an example, a new joint research Centre has been established between Shell and China’s Tsinghua University to achieve technological breakthroughs, and find viable energy solutions to help tackle mobility challenges. We hope this exchange of ideas will eventually lead to tangible solutions and eventually contribute towards a cleaner and greener future”.

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Your Business Needs a Social Media Marketing Strategy Right Now

According to the 2017 Social Media Marketing Industry Report from Social Media Examiner, 92% of marketers said that social media is important to their businesses (that included business owners as well). So obviously businesses are getting the message.

This year, not much has changed, you still need to use social media for your business, however, it’s more important now to have an exact plan, or strategy, about how you are going to implement your social media marketing.

Get this 41% of Americans say it’s important that the institutions they engage with have a strong social media presence and of those Americans who have a social media account, 28% would rather engage with a brand/organization on social media than visit a physical location.

So let’s do some math. There are roughly 326 million Americans. According to Pew Research Center, 69% of adults in the U.S. use social media, which makes approximately 225 million people. If 28% would rather engage with you on social media than walk in your door, that means 63 million people prefer interacting with businesses on social media than in-person. And that includes me.

The top choice for a customer care channel is social media (Sprout Social) so now is the time to start crafting that oh-so-important strategy to make it all work.

Business Loans In Nigeria

If you are interested in starting your own business, it is most likely that you will have to borrow money. But not everyone has a rich uncle, who can loan them money with a low or entirely non-existent interest rate. Therefore, you need to know what other options for loans are available now in Nigeria. Below, you can find information on where you can get a loan for your business in Nigeria, as well as some tips to guarantee you getting it.

Business loans 

So what exactly is a business loan and how is it different from the other types of loans? Well, as with any other loan, you receive money from a financial institution that you need to repay in a set amount of time with interest. The main difference is that, in addition to your previous credit history, money lenders consider your business idea and make a decision based on its expected profitability. If they don’t think your idea is good enough, the chance of getting a business loan diminishes considerably. There are many ways in Nigeria to get a business loan. But before you actually jump into it, take a minute to consider this: do you really need a loan? Have you considered all the other options? If the answer is ‘yes’, then, by all means, proceed.

Money lenders in Nigeria  

Nigeria has set a course for aiding small and medium-sized enterprises (SME) in their endeavors, which includes making it easier for entrepreneurs to get loans. There are plenty of banks, funds and online lenders that will give you the needed money. Below, we have listed the best options available for getting a business loan.

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Heathrow Airport Launches SME Grant Program

London Heathrow Airport has partnered with the UK’s Department for International Trade (DIT) to launch its World of Opportunity program, which will award £2,000 (US$2,555) to 20 British SMEs to fund vital trade missions and research.

As part of the partnership, DIT will provide mentoring guidance from an international trade advisor to help their research and missions and promote the competition. Successful applicants will also receive a Plaza Premium lounge pass to begin their trip in style.

A panel of business experts including Lord Deighton, chairman of Heathrow Airport; DIT’s Keith Moses, international trade advisor, DIT; and Maisha Frost, small business correspondent, Daily Express, will select the 20 grant recipients among the list of applicants.

RBI working on co-origination model for MSMEs

The Reserve Bank of India is working towards a formal co-origination model to give a boost to the flow of credit to the micro, small and medium enterprises (MSME) sector, SS Mundra, Deputy Governor, said.

A co-origination model is not about a bank financing a micro-finance institution (MFI) or non-banking finance company (NBFC) for on-lending to the ultimate borrowers. Rather, both of them (bank and the MFI/NBFC) join at each underwriting and loan level and share the loan amount at an agreed percentage with all other structures put in place.

“The advantage is that it can bring the strengths of the two sectors together — MFIs have better understanding of the ground level and last mile reach and banks can supplement the resources,” Mundra said at a Bankers-Borrowers Business meet organised by Assocham.

“In my mind, rather than simply going in for refinancing or on-lending, this co-origination can become an important way of catering to the MSME sector,” he added. Mundra’s remarks are significant as it comes at a time when the MSME sector is faced with challenges of non-availability of adequate, cheap and timely institutional credit.

Six ways SMEs can avoid mistakes when recruiting

With a staggering 5.5m businesses in the UK and 99 per cent of these being classed as SMEs (employing 0-249 people), it is vital these companies avoid mistakes when recruiting.

The overall cost of employing the wrong person and finding a replacement is worryingly high, with a 2014 Oxford Economics Report highlighting the loss of an employee on £25,000 a year carries an average financial impact of £30,614. This is costly for a growing business, so it helps to know how to avoid mistakes when recruiting.

There are several factors to take into consideration before you make that final decision. It is vital for SMEs to recruit for the talent that a candidate brings and also for their ability to support future growth of the company. Both of these can be achieved by avoiding common mistakes when recruiting, and instead following these six tips.

1) Look for a balance between autonomy and following processes

Working for a growing SME often involves a need for autonomy as it is essential that a candidate can cope with the level of independence required. Likewise, they will need to be able to adapt and follow the processes already in place in order for the business to achieve steady growth.

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