As per research, 45% of SMEs don’t know they have a business credit score. However, if business credit score was a familiar term amongst SME owners, you’d know that it is more than a number. It plays an important role in your business’ overall success. Beyond getting easy loans, good business credit score helps in your…
How can business credit cards help SMEs manage business expenses?
A business credit card, by definition, is a credit card granted to an organization to cover business-related expenses rather than utilizing personal credit cards or their own assets. Typically, SMEs and startups are the least well-served segments of the enterprise ecosystem in terms of receiving business/corporate credit cards. The glimmer of hope here is that…
What is the Difference Between a Business Line of Credit and a Business Credit Card?
At some point, almost every firm will require short-term financing to meet expenses. Using short-term credit is one strategy to ensure a business works smoothly, whether it takes a year or a month to convert your product or service to cash. Business lines of credit and business credit cards are two of the most popular short-term financing solutions. Let’s take a…
First-Time Entrepreneurial Mistakes to Avoid
Entrepreneurship is one of the most coveted titles in the country. Starting a business, finding the perfect team, establishing a scaling strategy, and so on are all extremely appealing. However, establishing something sustainable is the x-factor for all entrepreneurs in today’s market. Founders need to be committed to their vision and mission to develop a…
What are the essential components of working capital management?
Indian SMEs are often forced to take unnecessary debt and other financial obligations to avoid short-term cash fluctuations, when in fact sufficient cash is stuck in working capital. However, working capital optimization is difficult to execute and often needs cross-functional efforts to pull off effectively. The relationship between different components of working capital makes controlling the rolling of cash and cash equivalents important. In this blog, let us look at the various components of working capital which will help in staying solvent…
Things to Consider Before Choosing a Business Credit Card
Don’t already own a business credit card? Now is the time to think about getting one—and all the perks that come with it! Using a business credit card for Startups and SMEs is ideal for financing a wide range of business purchases and expenses. These cards offer a level of flexibility that isn’t available with other forms of business credit. It also…
3 Ways to Use Business Credit Card Rewards
Credit cards have gained a lot of popularity in recent times with reward points as one of the appealing features. If you’re an SME owner, business credit card rewards can be a money-saving tool. However, despite many banks and SME credit card companies revamping rewards programs to make them more pandemic-friendly, 31% of Indians didn’t redeem any rewards in 2020….
How to Solve Cash Flow Problems for Your Cloud Kitchen?
With less working capital requirements, low initial setup costs, and almost negligible staff, and equipment needs, the dynamics of cloud kitchens have gained quite a traction over the traditional dine-in facilities. However, many cloud kitchens fail in times of crisis, not because of their food or services, but the lack of proper financial planning. According…
How to Optimize Business Costs and Save Big
Businesses should always run like a well-oiled machine. Business owners must make sure to optimise businesses which translates to money saved. Especially in this COVID 19 scenario where every businesses are forced to cut back on expenses, optimising business costs is of significant importance especially the SME sector. The SME sector is a key contributor…
