The article is contributed by Delzaad Deolaliwala, Chairman, Pan-India Medical Cannabis and Hemp Association (PIMCHA), Co-Founder and Chief Legal Officer, Bombay Hemp Company (BOHECO)
Cannabis Sativa L., also known as Vijaya or Bhanga in Ayurvedic Text and referenced in Atharva Veda â Samitha, has been a part of Indian Traditional Medicine for centuries. The therapeutic use of Vijaya and its formulations have since found mentions across various classical texts and ancient medical treatises, however, in the 19th century, cannabis was classified as a narcotic drug and medicines made out of cannabis came to be strictly regulated across the world.
In India, the use of cannabis in medicines was first regulated by The Dangerous Drugs Act, 1930 and currently comes under The Drugs and Cosmetics Act, 1940. The flowers and buds of the cannabis plant (known as Ganja) are regulated as a ânarcotic drugâ under the Narcotic Drugs and Psychotropic Substances Act, 1985 (NDPS Act) but the leaves (known as Bhang) and seeds when separated from the plant or the flower and buds are not regulated under the NDPS Act, 1985.
As the existing laws in India stand, there are no restrictions or limitations to legally utilizing the fibre, seed and leaf of the hemp plant to develop and commercially distribute products. Regulations regarding cultivation and processing of Industrial Hemp are governed by State departments including Excise, FDA and Ayush. Processing and manufacturing of medicinal cannabis comes under the purview of both Central and State government policies including NDPS Act, State Excise Act, and Drugs and Cosmetics Act.
From a cultivation standpoint, as per Section 14 of the NDPS Act, the cultivation and processing of cannabis plants for industrial purposes (to obtain the fibre or seed) or for horticultural purposes is permissible. The state of Uttarakhand pioneered the cultivation of industrial hemp within the limits of 0.3% THC, while also instituting research studies to allow for the medicinal and scientific use of cannabis plants by R&D institutions under Section 10 of NDPS Act.
From a licensed manufacture use perspective, as per Rule 161 (2) of the Drugs and Cosmetic Rules, 1945, AYUSH medicines containing any Schedule E (1) ingredient (such as the Cannabis Sativa leaf) can legally be taken under medical supervision. The Indian Medicine (Standards of Professional Conduct, Etiquette and Code of Ethics) Regulations, 1982 does not restrict the sale of Ayurvedic medicines containing Schedule E (1) ingredients by a registered practitioner, provided such medicines are sold to their own patients and not the public at large.
The paradigm shift in medical cannabis and industrial hemp regulations was initiated by the United Nations Commission on Narcotic Drugsâ (CND) decision to vote for the removal of cannabis from Schedule IV and reclassify it to Schedule I of the 1961 Single Convention on Narcotic Drugs, where it was listed alongside dangerous opioids like heroin. The voting record is a testament to the evolving attitudes towards cannabis â with 27 of 53 member countries voting in favour. Indiaâs tie-breaking vote was key to the reclassification, as Ukraine had abstained from voting.
The Governmentâs positive outlook towards cannabis from an industrial and medicinal lens has spurred the growth of a fledgeling sector which, if sustained, can provide enhanced health outcomes, aid doubling farmerâs incomes, generate rural employment and contribute to an environmentally sound ecosystem, in the long run. The Food Safety and Standards Authority of Indiaâs (FSSAI) recognition of hemp seed and oil products as food in 2021 is another landmark decision which has contributed to the changing perception towards hemp and cannabis.
Today, with increasing awareness about the benefits of hemp and medicinal cannabis, there is a need for regulations governing both cultivation and licensed manufacturing use. The sector is in its infancy and requires forward-thinking policies regulating multiple stakeholders across central and state governments along with industry players and farmers as well. Drawing from the Global Best Practices of countries which have already legalized hemp will help in building a robust regulatory framework. Comprehensive guidelines addressing labelling, consumption and licensing will streamline approvals and contribute to the growth of a transparent ecosystem.
An unorganized sector with distinct regulations across different stakeholders has to be sufficiently cognizant of challenges and opportunities to ensure sectoral growth while sufficiently regulating to prevent misuse and/or abuse. Close collaboration between the Government and the industry will be key to a self-reliant hemp ecosystem, leading to an economically sound, socially inclusive and environmentally sustainable future.
The article is contributed by Priyank Trivedi, Founder, WordPress Webers
The Bug Bounty Program is a transaction offered by many websites, organisations, and software developers that allows individuals to credit and reward bugs, especially security vulnerabilities and bugs related to vulnerabilities. These programs allow developers to find and fix bugs before they are noticed by the general public, preventing widespread misuse incidents. Bug bounty programs are implemented by many organisations in India.
Top Indian Companies offering Bug Bounty Programs:
The sequence in the working of the Bug Bounty program are:
Step 1. A researcher will try to find bugs on a platform using software, tools and personal skills.
Step 2. Once the researcher has found the bug, he/she will report it to the Bug Bounty Program of the company along with necessary proofs of the bug.
Step 3. The security team of the company will look into the research provided and evaluate using the steps performed by the researcher.
Step 4. Once the bug is found valid the company will offer âBounty/Rewardâ to the researcher for his/her efforts.
Step 5. The Bounty/Reward money depends upon the severity of the bug identified.
Average payouts of Bounties based on severity:
Informational: No bounty is rewarded
Low: $50 – $100
Medium: $200 – $500
High: $500 – $ 1000
Critical: More than $1000
How does launching a Bug Bounty Programs help secure the company?
Launching a Bug Bounty programs secures the company in many ways.
It helps to identify each and every single bug on a large-scale-organisation is nearly impossible since developers are constantly updating new features on the companyâs website and mobile applications which can have minor bugs.
With the help of launching a Bug bounty program, the company need not require to hire a special team to identify and fix bugs on the platform.
The company also gets the privilege to fix the bug sooner since the bug hunters are specialised in identifying such issues. So the time taken to fix bugs is dramatically lower than ever.
The company only needs to pay the reward when the bug is found valid. This helps the company to save more money since the payout depends on the bugâs severity and how it affects the end user.
Ultimate control remains in the hands of the company itself, due to which the company can decide the amount they are willing to pay for the severity of the bug, the company can also shut or change the program as per their requirements.
How Bug Bounty Programs helps Indian Researchers/Bug hunters?
There are several benefits of Bug bounty programs for researchers and Bug hunters:
Since there is a reward on each bug being reported, the researchers get awarded good money which helps them look for High and Critical bugs since the payout on such bugs is more than Rs. 50,000, which is higher than Average Monthly Salary in India.
Bug bounty hunting is a growing market in India and many talented individuals in India are great at bug hunting.
There is no requirement of qualification or age, any individual can learn his way through bug bounty hunting and create a career in the field.
You get recognition via âHall of Fameâ provided by the company, so you can present your work to your recruiters to showcase how good you are at your job.
Bug bounty hunting is mostly done remotely, this gives the freedom to the researcher to work from anywhere around the world and hunt for bugs on different programs and the reward is received via wire transfer due to which it makes it more easy for the researcher to work at any hour of the day and any place and the reward will be credited directly to your account.
Since, India is a Developing country, people here are new at tech, due to lack of understanding in cybersecurity and privacy, they may fall under the trap of scams by providing valuable information to an attacker or in worse case the attacker can steal valuable information through the companyâs application itself. By hosting a Bug bounty program, the researchers tend to remove all possibilities of data leaks, account takeover and many more cases where the users and company is affected.
Companies like Swiggy, Dukaan and Zerodha have made their platforms secured due to which their applications are safer to use than others r, this also helps the company develop competitive advantage by gaining trust and credibility that the userâs personal data is secured with their application.
By implementing Bug Bounty Programs, these companies have speed up the process of fixing major bugs in their applications. This is all possible with the help of these programs where the company gets the privilege to secure the application before the users are affected.
India also has the most safest payment portal BHIM UPI which is more secured tech than other modes of payment. This is all possible by launching bug bounty programs and skilled bug hunters.
However there are many Indian companies who still havenât adopted the benefits of a Bug Bounty program. If more companies launch bug bounty programs the easier it will be for researchers to help the company fix bugs in their applications.
Where is Bug Bounty Programs listed?
Most companies appoint Bug Bounty platforms where there are existing bug hunters available, which are as follows:
HackerOne
Bug Crowd
Synack
WordPress Webers (Indian Platform)
Bugbase (Indian Platform)
Yes We Hack
These platforms have registered bug hunters who hunt for bugs in return for a bounty. Companies host their programs on these platforms to speed up the process of bug resolution. Any user can sign up for these programs just like you sign up on a social media platform and start your bug hunting journey.
Perks of joining Bug Bounty Platforms?
You get the opportunity to meet people who are bug hunters/researchers and learn from them how to start bug hunting, you can also collaborate with them and hunt for bugs as a team.
The article is contributed by Pankaj Gupta, Founder and CEO, EnableX.io
The Indian SaaS industry is now firmly on the upward growth trajectory. As per the Zinnovâs Punching Through The Global Pecking Order report, in 2022 alone, the Indian SaaS industry saw a whopping 50% rise in revenue and a 3x increase in VC funding. This makes it abundantly clear that the countryâs SaaS ecosystem has finally come of age. While the market is growing at breakneck speed, building a successful SaaS business is not easy. Like any business, it takes time, effort & a lot of innovation to scale a business in todayâs ever-evolving environment.
Launching a SaaS company involves many steps, which can be daunting for first-time entrepreneurs. Let’s go over the process of getting your software business started:
1. Getting an Initial Set of Clients
No matter what industry youâre in, every founder has the same burning question: âhow will I get my first 10 customers?â The best way is to start with your existing network. Itâs low-hanging fruit. Talk to the people you know. It may not yet be a big number, but in the process, you may find a few relevant connections among your friends and family. And donât get disappointed if none of them is directly interested in using your service; they might refer to somebody who may need it.
You’re off to a good start if your product addresses a pain point or fulfils a burning need for someone and does it better, quicker, and/or cheaper than its competitor. Here are the following things that can be helpful:
Build a Quality Product
The success of a business depends on how well you understand the market needs and then build a product that addresses the users’ needs or problems. Therefore, spending some time and resources to understand customers’ requirements is fundamental & key to success. Once youâve established a product-market fit, you are on the right path.
Be Agile
Change is the only constant, and this maxim is truer for SaaS companies. The business landscape is changing so fast that it may become obsolete by the time your product hits the market. Agility is not just about the product features; it includes everything – IT stack, business model, and culture. It should be nimble and should be able to respond faster to remain competitive. Therefore, it is essential to have a keen eye on the changing market landscape, evolving customer preferences, and competitors.
Establish Robust Customer Support
It might sound a clichĂŠ, but your customers are the heart of your business. Apart from the product quality, they always want to know how fast their problems can be resolved satisfactorily. Therefore, build robust customer support service that enhances the overall customer experience.
Even if you donât have the financial muscle to put a 24*7 customer support team, there are many options. You can use Twitter and Facebook to provide quick support. You can also implement a ticket system to manage the support request or can put a well-defined FAQ page/User Guide on the website.
3. Building a Team That Delivers
It is essential to have a clear vision, commitment, and sincerity to realize your vision as a founder. You must believe in your product and have a clear roadmap of how you want to take it forward. And most importantly, you need to build a competent team that can help realize your vision. While hiring people, pay attention to skills, but it should not be the sole factor. Along with qualifications and skills, hiring people with a growth mindset, the right attitude & cultural fitment are key. Also, be extra careful while building your initial team as these are the set of people who are more likely to stay with the company for a long time. They should exhibit a clear commitment and drive to achieve something and excel in their work in a fast-changing environment.
4. Staying Abreast with Trends
As a founder and also your team members should be fully aware of whatâs happening in the industry and whatâs hot in the space. And of course, keep an eye on the competition. Know what your competitors are doing, what features they have built & what is their overall strategy. Keep tracking industry trends, technology and other news items pertaining to your industry. Networking with other startup founders, and attending industry events and peer groups is the best source to have a sense of what is happening in the environment around you!
Building and sustaining a SaaS business can be exhilarating and overwhelming at the same time. Though there are many steps to take before you can even start thinking about making money from your SaaS business, the points discussed above are crucial to starting right!
What happens when a public company goes private? Why would a publicly-traded company make that decision? What are its options once it does? It’s difficult to know how to answer these questions if you have no background information on the subject. To help you get some insight into what happens due to these transactions, we’ve collected seven pointers about going private and provide some insight into what happens due to these transactions. Hopefully, this guide answers your questions and helps you understand what happens if a publicly-traded company decides to pursue another route.
No. of Companies listed on Stock Exchange in India
Once a company goes private, it’s removed from the stock exchange. Investors will no longer be able to purchase or sell shares in the company through a major stock exchange.
The company’s management team may still hold on to some of their shares, which they may sell in the future for a profit. But for most investors, this is the end of their involvement with the company.
The company’s shares are withdrawn from the stock market
When a publicly-traded company goes private, its shares are withdrawn from the stock market. This is a major shift for investors, who are used to seeing their investments on display on the stock exchange.
Management often decides to go private, but investors can also initiate it. In some cases, an investor may buy out other shareholders and control the company. In other cases, multiple investors pool their resources and buy out existing shareholders.
Existing Shareholders get paid
When companies go private, their shareholders can receive various payout options. These include:
Cash payments to each shareholder are based on the number of shares they own. The payout can either be in one lump sum or spread over time.
Stock in a new company is formed when the parent company goes private. This stock could pay dividends or be sold for cash later.
New shares in the parent company that’s going private. Once those shares become publicly traded again, it’s possible for investors who hold them to make money off their original purchase price or by selling them at some point down the line.
The company no longer releases financial statements to the public
Once a company goes private, it no longer releases financial information to the public. This means that investors who had previously owned shares of the company in question will no longer have access to any information about its finances or performance. However, this does not mean that the company goes completely dark: companies can still be purchased and sold by other companies using private transactions, which means that their financials are still available to their owners.
The only major difference is that these transactions are not recorded on any stock exchange. Instead, they must be reported to regulatory bodies such as the Securities and Exchange Board (SEBI), allowing them to track how many outstanding shares exist within the private sector.
Fewer regulatory requirements and obligations
By going private, a publicly-traded company no longer has to deal with the many regulatory requirements of being a publicly-traded company. These include:
Annual reports: are required for publicly-traded companies and must be submitted to the SEBI.
Audited financial statements: audited financial statements must be submitted to the SEBI for publicly-traded companies. This requirement helps ensure that investors access accurate information about their investments.
Required disclosures: publicly-traded companies must disclose information about their operations and management team to the public via annual reports and other filings with the SEBI.
Corporate governance: corporate governance refers to how businesses are run internallyâfor example, whether shareholders have voting rights over key decisions made by management, or who sits on boards of directors at large companies.
Less capital available
The reason for this is simple: a public company must disclose its financial statements, which means anyone can access them. This is great for investors who want to get in on the action and make money from their investments. Still, it’s not so great for companies that want to be able to keep their financials secret to protect proprietary information or avoid scrutiny from government regulators.
By going private, companies can keep their financials under wraps and more of their profits for themselves!
A public company that goes private no longer has to contend with quarterly pressures.
Public companies are accountable to their shareholders, who demand that the company generate quarterly revenue and profit. These demands make it difficult for companies to focus on long-term goals, often leading to short-term planning and poor decision-making.
Private companies have more freedom: they can focus on their long-term goals without worrying about those pesky quarterly reports!
More flexibility
When a public company goes private, it gains more flexibility in its operations. This means that the company can make decisions that may be unpopular with investors but which are better for the business’s long-term health.
For example, a public company might cut costs to boost profits and increase shareholder value. This could involve layoffs or outsourcing certain aspects of operations. However, when a public company goes private, they no longer have to worry about shareholder concerns and can focus on what is best for the business as a whole.
There is a lot at stake when a public company goes private.
So there you have it, folks. That’s what happens to a company when it goes private. Of course, this article is only meant to be a general overview of the process. It may be worth learning more about private equity firms and the going-private phenomenon in general; then, you should do further research on those topics.
This post’s subject can be applied to almost any situation involving a significant change in company ownership and structure. While there are many options that can be pursued when taking your company public or private, keep in mind the information above: timing and valuation matter. If you’re ready to make the leap, talk to an investment banker or investment broker/advisor, they can help!
FAQs
What is privatization in public sector?
Privatisation of public sector means the transfer of ownership, management, and control of the public sector enterprises to the private sector.
Which sectors are privatised in India?
The sectors privatised in India are:
Atomic Energy
Space and Defence
Transport
Telecommunications
Power
Petroleum
Coal and other minerals
Banking, insurance, and financial services
What happens if public company goes private?
When a Public Company Goes Private:
The company is removed from the stock exchange
The company’s shares are withdrawn from the stock market
Existing Shareholders get paid
The company no longer releases financial statements to the public
Which are the public companies that went private?
Some of the popular public companies that went private are:
As you have been enjoying the perks and the higher than average salary in a law firm, but now you are thinking of becoming the General Counsel (GC) of your own firm. So, what happens next? In the legal profession, Â the next step of an associate in his career is to become a GC or a General Counsel. A general counsel is a chief lawyer of the legal department in a company.
Although being your own boss is a rather tempting idea, it is fundamentally plastered with certain inherent problems and issues. This is because being a general counsel includes a lot of effort and hard work. This is particularly so because the work of a general counsel never ceases. Thus, the person who is contemplating such a tectonic shift in his career must know and understand certain key factors.
In this article, we will talk about 6 things that you must consider before becoming the General Counsel from an Associate. So, let’s take a look at it.
The esteemed role of GC might sound tempting, but it’s not that simple! There’s a difference between being an associate in a law firm and working in the office of general counsel. For the latter, a command over the legal and non-legal skills is very important – but not in quite the way that you’d expect. You may not spend your entire day arguing in court and validating legal points, but you will be validating business by communicating with the clientele.
One very important element that is a part of a GC’s primary duties is handling matters related to a company’s business development and advising them on every issue in the periphery of operations. This is why general counsels are always busy and don’t even have enough time to stand and wait in one place!
Seeking a Comprehensive Sectoral Understanding
The core competency of a general counsel stems from a holistic understanding of the domain or the industry in which the company operates. Thus, it is essential that you build a holistic understanding a develop a complete knowledge of the sector or the industrial segment in which your company tends to operate.
This understanding should not be myopic or restricted merely to legal and compliance standards. Neither should you concentrate more on regulatory knowledge only. A complete understanding of this sector stems from an overview of all nuances relating to the industry’s practical working and business trends and governing conventions in general.
Strategize Your Business Right
It is amazing to know how some GCs can turn young businesses into hugely successful corporations. This rapid growth is attributable in no small part to proper planning and strategizing. Most GCs are not aware of their company’s corporate or financial position, and it goes downhill pretty quickly from there.
The business strategy primarily covers both the parts of learning about the business and planning it well to manage it better. Ascertaining all relevant information is integral to planning your company’s operations. As GC, you will need to pay attention to these minute details and create the right strategies to propel your business to the top. Thus, at its core, strategizing includes gathering information on all corners of the business and then involving each corner in the mainstream business.
Build Better Relationships
Relationship management is a serious business in the legal world. A general counsel should not just be concerned with what is happening externally in the industry. He should also focus on the workings of the company also. In order to do that, as an associate GC, you should start by developing a keen idea about the company and its workings.
Not just that, but you should also be aware of the various people who are working within the organization, what their profiles and designations are, and what their jobs entail. Building better relationships and networking with fellow employees and peers helps you gain the right knowledge about the organization’s internal values and culture. An associate GC who identifies with the organizational ethos and has a complete understanding of the company’s internal work and functionalities can better fulfil his role as a general counsel.
Knowing the Stakeholders
To be a general counsel, it is very important to know the various parties and the stakeholders involved with the company. The various stakeholders of the company are important points of consideration for an aspiring GC. Understanding their perspectives manifests almost entirely from perfect listening skills.
In fact, if an organization wants to better understand the stakeholders’ needs and expectations, it’s kind of impossible not to listen to their concerns. It offers better insight into what drives and motivates them. Â It is by completely understanding the drivers you can be equipped to advise them of the best possible recourse for the company in any given scenario.
Stepping Outside Your Comfort Zone
As a general counsel, it is your job to contemplate the right decisions for the company’s benefit and advise the same to the senior management. Occasionally, this might entail the need to shoulder certain risks and advise from a commercial perspective. The ultimate agenda to do this is to ensure that the company’s problems and grievances are redressed and that they can go about their businesses in a more productive capacity.
This job’s primary responsibility is to support your company through proper problem-solving abilities and ensure complete compliance even if the resulting problem is outside your comfort zone. This is the reason that helps you maintain positive relationships with colleagues, staff, and other members of senior management. Who knows, maybe their recommendations can help you to transition from the associate general counsel to bigger, better, and greener pastures.
Conclusion
These days, the competition and search for better opportunities have become tougher. This means that there still has to be twice the effort for a normal candidate with the right profile. Hence, it is important to understand that one needs to chalk out a few details before committing full time to the cause. A general counsel’s job is anything but easy, and you quite simply will run out of time and patience on multiple occasions. So it would be better if you stay prepared for the first instance.
FAQ
Who is a General Counsel?
A General Counsel is a chief officer of a legal department of a company.
Who should a General Counsel report to?
A General Counsel should report to the CEO of the company.
Do you need to be a lawyer to be a General Counsel?
To be a General Counsel one needs to be an expert in both law and business.
Marketing professionals working in various industries recognize the potential of content marketing. They know a well-drafted and executed content marketing strategy would help them grab more eyeballs. It can also help by boosting the search engine rankings. But owing to the intense prevailing competition from brands, following an ordinary content marketing strategy isnât enough.
Marketing professionals must upgrade to a more advanced and efficient form of content marketing that encompasses a holistic approach – an approach that leaves an impact on the target audience via stellar content pieces delivered in different engaging formats.
If enough time and effort are put in, it can be achieved with the help of creating an unforgettable content experience. Letâs dive in and know more about what it is and how it can be created for visible results.
A content experience can be best defined as the overall experience of finding, accessing, consuming, and engaging with a sequence of well-organized brand content available across different platforms and devices.
Most online readers are at different buying stages where they need relevant, ongoing resources to help them move purposefully forward in their journey. A content experience helps deliver such resources in the form of stellar content.
The content experience begins with context and how it reaches your target audience. It also encompasses how the brand content is structured and how it manages to engage people with it. It requires snappy writing backed by a strong strategy on how to feed it to your target audience.
Take MailChimp, for example. MailChimp has championed the art of delivering stellar content experiences. MailChimp segregated its content experiences into categories covering product guides, practical marketing tips, tutorials, the fundamentals of email marketing, and success stories.
Each category caters to a specific audience personal. The marketing tips section is geared towards helping business owners boost their revenue through automation workflows, A/B testing, e-commerce marketing strategies, etc.
MailChimp knows what the audience wants. It delivers the same in an engaging, well-structured, easy-to-find manner, providing a pleasant content experience.
There are no defined rules to help marketing professionals create a winning content experience. But after analyzing most top brandsâ digital assets, a common string of frameworks was found. Hence if marketing professionals want to deliver exceptional content experiences, the following points should be followed and executed.
Let’s understand How to Create a Winning Content Experience.
1. Enhance the Reading Experience
When putting in a lot of effort to create excellent content, make sure people donât have to squint and strain to read what is written. Keeping the text large enough for people to comfortably read it is a good practice. Another point to implement for a seamless content experience is to use paragraph breaks. Use as many H2s, H3s, italics, bold, etc., as possible, so people can skim through the content or go through it in one sitting.
Avoid using more than five lines at a stretch for ease of reading. Otherwise, the text may appear like a wall of text that no one would be interested in looking at. If creating long content is a part of the content strategy, make sure enough jump links are used throughout the content. It enables the reader to navigate to the section she/he is interested in reading.
Another way to enhance the reading experience is to place aesthetic charts, graphs, infographics, etc. If these cannot be placed throughout the content, a video summarizing the main idea shared through the content would also suffice.
2. Leverage the Strength of Each Platform
ratings of different platforms for B2B marketing
Back in time, sharing links to blog posts on social media platforms like Facebook, Twitter, etc., used to do wonders. But it isnât the case anymore. Be it Facebook or Twitter, every platform wants people to spend more time on their platform. Hence if marketing managers want to succeed, they have to play to the strength of each platform. It will help create a memorable content experience and also deliver long-term results.
To create a seamless content experience, start by creating standalone posts in a form that best matches the format of the respective platform. For example, you can convert the learning of a blog post into an informative thread on Twitter or a series of standalone posts on Facebook that help you establish yourself as an authority. Long-form text can also be converted into text-based videos and posted on platforms like YouTube to garner more views.
Every platform is distinct and created for people to discover varied content formats. So if marketing managers want the content to reach more people, they will have to optimize the content in optimal ways.
Using different platforms inappropriately would make the content more ineffective, and the target audience would start alienated. To prevent this, begin identifying the ideal ways to distribute content in each environment.
3. Personalize the Content
Even if a brand offers one product/service, it can be used by different people with varying problems, aspirations, and interests. It is one reason why no brand talks to a broad target audience in the same way. It rather segments the audience into various categories and creates personas for reference. These personas are then used to create personalized content for each type of person within the audience.
Marketing managers can do something similar to create and offer the best content experience. Segmenting email lists to ensure only relevant emails are sent to a category of people is one effective way to approach things instead of sending out mass communication emails to the entire list. It can be combined with targeted advertising to create a complete content ecosystem that meets the needs of every audience within a defined category.
Personalizing content isnât always creating individual content pieces for the defined personas. At times, it refers to changing the way you present the created content to the audience.
Every content piece is created with a purpose in mind. The goal can be to present the brand as a thought leader or contribute to an ongoing conversation. It can be different for different brands. But irrespective of the purpose the content has, it should be able to guide the readers smoothly throughout the content. It is believed that good content naturally leads or links to another piece of relevant or related content.
It can happen with proper interlinking throughout the content or crafting relevant content upgrade materials, making compelling calls to action on a given topic. The content strategy should have plans to create an ecosystem of related content, so the brand can deliver a connected content experience, irrespective of the funnel stage people are in.
The end goal of marketing managers should be to make people stay within the brand content ecosystem and continually assist them in discovering the value of the brand. Doing so is crucial so that when the brand attempts to pitch, people are more than ready to hear it.
5. De-Silofy Your Content & Teams
A mistake some marketing managers make is organizing the brand content by content date or format. This is a deadly mistake because it makes the content undiscoverable or hard to locate. To fix this problem, it is essential that the created content is grouped according to category and further grouped according to content format. Such content organization will allow readers to quickly locate the desired content correlating to their respective stages in the buyerâs journey. Following this method, marketing managers can easily extract content, improving the content experience.
Delivering the best content experience is not one personâs job. It is the combined responsibility of a sales manager, content marketer, digital marketer, product manager, graphic designer, UX designer, etc. These teams often donât work together in tandem, hampering the overall content experience.
To fix this problem, the CMO needs to bring together all these teams on the same page, making them work together to achieve the same goal. Making seamless collaborative processes is the only way to deliver a smooth content experience.
Creating Winning Content Experiences Requires More than Content Creation
Steps included in Content Experience
Creating a seamless content experience can be very rewarding for brands. But it can only be possible when marketing managers realize that creating it requires more than stellar content creation.
The entire experience is more about building a well-connected content ecosystem than delivering disjointed pieces of content and guiding the readers through the different stages of the marketing funnel while solving all their major pain points.
A winning content experience can only be delivered if the team responsible for creating it understands the target audienceâs psychology. Figuring out what the target audience wants and creating content addressing those queries is half the battle won.
Marketing managers who want to go beyond the typical content marketing measures to stay relevant should try the methods shared above to create a memorable content experience for their target audience.
Conclusion
The creation of content is done with the purpose of educating people about specific brands. However, a positive content experience stands as a result of good content and its related aspects which leads to a better name for that brand. Content marketing strategies can also be put up as an essential point in deciding on content experience. The need for creating a better content experience and the tips required to accomplish the same are shared in the above context.
FAQs
What is meant by content experience?
A content experience is a reaction given by online readers or anyone who comes in contact with the shared content of specific brands.
What is content marketing?
Content marketing is the creation and sharing of particular data with the purpose of diverting audience attention towards the marketed brand.
Can a content experience make or break a brand?
Yes, the Content experience can not wholly make or break a brand. But surely they have a great impact on its success rate and popularity.
Who all forms an essential part of the content experience?
The whole team responsible for the content creation and its management is counted as part of establishing customer experience. Content creation and content marketing are two important aspects of establishing a content experience.
Why content experience is important?
Content experience creates an impression on the audience. Creating a good impression can result in better advertisement of a product and a good increment in its sales.
Jute bags are used for shopping purposes. Our environment today is polluted to an extreme level. Nowadays, printed jute bags are used for shopping purposes too. Jute is a long, soft, shiny vegetable fibre. It is also popularly known as Golden fibre. Currently, it is one of the strongest all-natural fibres available throughout the globe. Jute fibre is reusable and biodegradable. Starting a jute bag-making business is a great decision to start. It is also a profitable business because the usage of jute bags has excessively increased over the last year. People nowadays carry these bags as a style trend.
There are several different types of bags that are very popular in the market. A recent study has shown that the general public has become very bored with carrying leather bags. The jute bag-making process is simple. Any individual can start this business even from home. Furthermore, this is a great opportunity for women, housewives, and mothers too. In this article, we will discuss how to start a jute bag-making business.
Before starting and making a jute bag business plan, you should know the different types of Jute bags you can manufacture. There are numerous types of jute bags you can find in the market. According to lamination or lining, there are three different types of bags.
Jute bags are versatile and can be used as gift bags
These bags are used as shopping bags all over the world
It is used for transferring products from one place to another
Identify the Demand of Jute Bags
Global Jute Bag Market
Jute has properties like low thermal conductivity, remarkable insulation, and moderate moisture retention. So Jute bags are strong enough to pack bulk goods. The growing environmental concerns have also increased the customer’s inclination toward natural and biodegradable products like jute bags.
As per industry estimates, India has exported millions of jute bags mainly to Europe. The production of this item which is mainly in the micro and small enterprises has picked up substantially in the last few years. There is a big scope globally for Indian jute shopping bags as an alternative to plastic bags. India holds the majority of shares representing the leading producer of jute bags. Additionally, the benefits offered by jute bags such as their biodegradability, durability, low cost, high strength, etc. have supported the market growth.
According to a survey, the jute bag market value had touched $ 1.9 Billion in the year 2020. Jute bags recorded an 11.5% CAGR from 2011 to 2018. The global jute bag market size reached $ 2.3 Billion in 2021. The market is expected to reach $ 3.3 Billion by 2026, exhibiting a CAGR of 9.4 % from 2022 to 2027.
Jute Bags Business Planning
When you start any business there are various things you need to consider. Whether you are in the beginning stages of starting your own business or planning on taking it to the next level, you will need a clear and informative business plan. You need to ask yourself, Where do I want it to go? What will my business look like? A business plan will provide readers with all types of information they need to understand your businessâs purpose and capabilities. You have to be willing to add, edit, or even remove certain portions of your business plan when new information becomes available.
Choosing Location of Your Business
Choosing a business location is all about setting your business for success. You need to put careful thought into where you want to establish your Jute bag business.
Some tips for choosing a good location:
Before you start looking for a business location you need to create a business budget for your expenditure.
Before you buy or rent a building, check out the surrounding neighbourhood.
Part of your business location strategy should be based on the amount of competition in the area.
Consider the potential growth of your company when choosing a location for the business.
Consider how easy it is for customers to reach the Jute business location.
Before you purchase a location for business, find out how it is zoned.
Register Your Jute Bag Making Business
For a very small startup, you can look for a proprietorship company. However, you may also go with the partnership, LLC, or INC companies according to your business size and investment model. Generally, this type of business plan doesnât demand any specific licenses from the Government authorities. In India, National Centre for Jute Diversification (NCJD) and Jute Manufacturers Development Council (JMDC) offer training on jute bag making.
Steps Involved in Jute Bags Making
The process of manufacturing jute bags is very simple and does not require the use of heavy machines. Below are the steps involved in jute bag making:
Buy woven jute fabric rolls from wholesalers or directly from manufacturers.
Laminate the jute rolls. Jute bags can be sold with lamination or without lamination.
Spread the jute fabric roll on a table and fix it.
Cut the jute rolls to the required size and shape.
Print the designs, logos, or text on the jute roll pieces.
Wash and dry the printed jute fabric pieces.
Stitch the cut pieces of jute roll using a heavy-duty sewing machine.
Attach the handles, buckles, zips, etc.
Pack the jute bags for marketing.
Raw Materials Used in Jute Bag Making
India and Bangladesh are the top producers of jute fibre. In India, West Bengal accounts for 50% of the countryâs total jute produce. So, source your raw materials from reasonable and genuine jute mills.
The raw materials used in jute bag making are:
Jute fabric
Dyes
Printing gum
Sewing thread (preferably nylon)
Chemicals and auxiliaries
Handles
PVC buckles
Packing materials
Labels
Types of Machinery for Jute Bag Making Business
Jute bag manufacturing does not require high-end technology machinery. It all depends on the scale and type of bags. To make a printed jute bag, the following machinery is required.
Working table
Lamination machine
Printing Table
Screen printing machine
Dye Paste Stirrer
Water Drum, tubes, mugs, clips, etc.
Cottage Steamer
Electric Fittings
Scissors and measuring tape
Cutting machine
Heavy-duty Sewing machine
Regular sewing machine
Nylon thread
Lockstitch Machines
Side Sealing Machine
Marketing Strategies of Jute Bag Business
Marketing strategies are the processes by which companies create customer interest in goods or services. Marketing draws out the hidden wants of customers and creates new demand. It enlarges the market and enables the producers to increase production and earn more profits. Because of marketing so many other activities such as banking, transport, insurance warehousing, etc. get a boost as they are needed more help in the marketing process.
Some techniques of marketing Jute Bag Business:
Word of mouth
Comprehensive website
Social marketing
Direct marketing
Major festivals
Online shopping sites
NGO tie-ups
Local tie-ups
Corporate gifts
Conferences and seminars
Conclusion
Starting any kind of business needs patience and hard work. Getting into the business of making jute boxes is not something different. With people being conscious about the environment, and inclining toward jute bags, the market has experienced definite growth. So, it is clear that the market for jute bags will keep rising in the future as well.
FAQs
What raw materials are needed for making jute bags?
The raw materials needed for making jute bags are:
Jute fabric
Dyes
Printing gum
Sewing thread (preferably nylon)
Chemicals and auxiliaries
Handles
PVC buckles
Packing materials
Labels
Which country is the top exporter of jute bags?
India is the top exporter country of jute bags.
What products are made from jute?
The major manufactured products from jute fibre are:
Yarn and Twine
Bags
Sacking
Hessian
Carpet Backing Cloth
Textile Blends
Which are the top Jute producing countries in the world?
India and Bangladesh are the top Jute producing countries in the world.
Technologies have changed dramatically. It has become a lot easier for small businesses to generate revenue online. As you may know, many startups are trying to make it big in the industry. But buyers need to be careful about which platform they invest in. Some people aren’t tech-savvy but want to own a SaaS startup. If that’s you and you don’t know how to choose the right one, then you can use some tips to find a reliable startup. This will keep disappointment to a minimum and save you time when screening and vetting SaaS startups before making an offer.
Know what you’re getting into (purchasing a product or a company)
Global SaaS Market Worth
When buying a SaaS startup, it’s important to understand whether you’re buying a product or a companyâand how those two things differ in terms of risk and rewards. If your goal is to sell your product as quickly as possible, then buying an established company with paying customers and recurring revenue might be more appealing than starting from scratch with an untested idea. However, if you want to buy into someone else’s vision and grow with them over timeâor if you want to change direction quickly based on market conditionsâthen building something from scratch might be better suited for your needs.
How is the product built?
The SaaS startup you’re looking at has a great team. But how do they build their product? If they’re using a proprietary software platform, that’s great. If they’re building their in-house software, that’s even better! It means they do not depend on third parties to keep their business running.
If they’ve built their product using open source tools or frameworks, that’s fine too, but make sure you understand what it means for them to have done so.
Are there any dependencies on third-party services or software licenses?
If you’re buying a SaaS startup, it’s not enough to just look at their revenue numbers. You also need to know if they’re making money and how much they spend on it.
Are there any dependencies on third-party services or software licenses? For example, buying a SaaS business that relies heavily on Amazon Web Services (AWS) might seem like a great deal on paper, but you might be surprised by how much it costs to maintain the infrastructure in the long run.
Have they built their technology, or did they buy existing solutions?
This is another important question because it can tell you if your new startup has already invested in building its technology stack, which means it may have already started paying off dividends.
How does the product work?
SaaS Product Working
SaaS businesses have many moving parts, so it can be hard to understand what’s going on from the outside. It does not take an expert in software development to know how your SaaS company worksâyou just need a basic understanding of what makes it tick.
Before buying a SaaS product, the first thing to understand is how the product worksâand whether it’s working. You should know what the company has done with its resources in the past.
Learn how to value a SaaS business
You may have a hard time figuring out what a SaaS business is worth if you’re not a tech person. You’re probably wondering how to value a SaaS startup or how to know if the numbers are genuine.
It’s easy! Just ask yourself:
How much money has a startup made in its lifetime?
How much money can it make in the future?
What are the costs of running the business?
Understand their business model
What is it that they do? Do they charge per user? Do they sell subscriptions? Is it based on the number of transactions or the amount of data stored? These are all important questions to ask because they will inform how long your investment will last and how much money you can expect to make from it.
Next, take a look at their competitors. Who are they competing against? Are they trying to compete with big players like Google or Microsoft? Or do they have an opportunity to carve out their niche where they won’t be competing directly with anyone else? Taking this into account, you will know exactly how much room there is for growth and expansion within that particular space.
Plan for a lot of work ahead
Once you’ve found the right SaaS startup, you’ll need to plan for a lot of work ahead. You might have to hire new staff or train your current employees to use the product, which can be costly. Also, consider the time it will take to train your customers on how to use the productâthis can be even more time-consuming than training your staff!
When buying a SaaS startup, you need to be prepared to develop a marketing strategy.
Your first step is to understand how your target customer uses the product. What are their pain points? How do they currently solve them? What do they want to see improved? Then you can start developing your marketing plan around those goals.
As a non-tech person, you may not know about SEO or SEM yetâbut that’s okay! You can still have a say in what the marketing looks like and what channels are used for outreach.
Don’t assume that the numbers are true
One of the biggest mistakes that people new to SaaS make is assuming they can trust the financials provided by the company they’re buying. Most SaaS startups are private companies, so there’s no way for outsiders to verify those numbersâand even if there were an outside auditor, those auditors might not have experience with this type of business model, so they wouldn’t be able to tell if everything was on the up-and-up anyway!
Talk to at least three existing customers
Before investing in a SaaS startup, we recommend talking with at least three existing customers. When you do this, make sure they are people who are using the product in real life and not just company employees or investorsâthat way, you’ll get a more accurate picture of what using the product is really like.
Inquire about their experiences with the product & company and what they like/dislike about it. Also, ask them what they would change about it if they could (though remember: this doesn’t necessarily mean that the startup will change their product based on your feedback).
If any features are missing from the product that they think would be useful, ask them how important those features are to them personallyânot just in terms of how often they use them but also how much value they would add to their business if added to the product overall.
Inspect their revenue
Indian SaaS Industry Expected Growth till 2026
Revenue is the most important thing to look for. Revenue is the biggest indicator of how well a SaaS startup is doing. If you’re buying it, you want to ensure that it’s making money and has been making money in the past. If it hasn’t been making money, it might be time to move on from that company.
Look for revenue growth and revenue stability
What does this mean? It means you want to see if the company has consistently made money for the past few years. If they’ve been doing well over the past 4 or 5 years, that’s great! But if not, ask yourself why.
You want to see steady growth over timeâpreferably, that growth has been accelerating. In addition to growth, you also want to see that the company is making money. The goal is not just to grow as fast as possible; it’s also to make sure that the business model works and can be sustained long-term.
Conclusion
Buyers, beware, SaaS startups can be complicated to evaluate and run.
Frankly, there is a lot to look into when you’re looking at buying a SaaS startup. There are products to demo, contracts to review and establish, and many other details that probably won’t occur unless you’ve worked with SaaS products before. But if you want a great return on your investment, you need to be aware of all these factors (and more) before buying into a SaaS startup.
FAQs
Why do startups acquire other startups?
Acquiring a startup helps in getting more market share in startup the companies are dealing in.
How to value a SAAS startup?
Saas startup is valued based on these values:
Annual Recurring Revenue
Growth Rate
Net Revenue Retention
Gross Margin
Can a non-technical person be a founder of a company?
Yes, there are many successful startups that were built by non-technical founders.
Is there any marketplace to buy SAAS Startups?
Marketplace to check for buying SAAS startups are:
In most businesses today, the sole purpose of operations is to sell products and services and earn profits. What enables more people to know about the products and services is advertising. It helps businesses to market their product well and earn huge profits through sales.
Advertising helps the consumers get the best possible options and also helps them to make wise decisions hence businesses need to apply the best possible advertising strategies.
While many think that advertising is a costly affair because it requires funds and requires expertise. In this article, you will find ways in which you can advertise your products and services free of cost and without spending any money.
Every entrepreneur wants to capture the market, increase sales, and earn huge profits. If the entrepreneur advertises the products or services at the right place, through the right media, and at the right time, he/she may attract many customers and fulfill all the goals. Here are 8 different ways in which organizations and individuals can advertise their products and services without spending money:
The graph shows monthly active users of popular social media platforms in the early half of 2022
Today when almost half of the world is working online it is imperative for any and every business to have its presence on social media platforms. Facebook and Instagram are some of the largest social media networking platforms and setting up business pages on these platforms will help you connect with customers in the best possible way.
You can convert many followers into customers by sharing your business updates, products, and services on these platforms. You need to make business profiles on social media platforms like Facebook, Instagram, Linkedin, and Twitter to leverage your brand its products, and services.
The best part about these platforms is that you will get to promote and advertise your business for free to huge masses and eventually can do paid promotions as well, depending upon the need of your business.
2. Website Blogging And Posting Blogs on Website
Wix Home Page
Publicizing your products and services through a website and blogging is an attractive way of advertising. If you want to make your website or blog flashy you might need to hire a professional, however, if you are tight on budget, you can do it on your own as well.
By just paying for domain and web hosting, you can make a simple website and publish your products and services and market your business. Some of the famous platforms that allow you to make a basic website free of cost with ease are Wix, Squarespace, and GoDaddy.
Including blogs will mainly serve two functions. It will help you build your presence over search engines and will inform your customers about your business.
3. Focus on SEO for your website
Search Engine Optimization or SEO is the setting up of WebPages so that the search engine understands the content of your pages and then may link it to you when someone searches for what you sell or what services you offer.
Today, with the help of SEO many businesses are improving their rankings so that their website appears and ranks on the first page of the search engines whenever the consumers search for a product/service related to their business.
While many companies outsource their work to professionals by spending a lot of money, you can do it for free as well. There are several things that you can do to improve the SEO of your site which include â using a different title for each page on your website; using the right keywords; including the name, location, and phone of your business; using phrases that people generally look out for, etc. With the help of SEO, you can advertise your business on an e-commerce platform most effectively and efficiently.
The level of personalized connection with the customers and masses that can be achieved via emails canât be achieved through any other forms of advertising and marketing. The people who are on your email list are already your half customers as by sending them personalized emails about your products, special offers, and more, you can convert them easily after on.
Portals like MailChimp can help you send mass emails, design campaigns, and help you understand the customer’s email patterns and different analytics. Sending postcards, offers, wishes, flyers, letters, and other emails is a very effective way of advertising your business without spending money.
5. Giveaways
Everyone loves free stuff. If you can offer a good deal or a giveaway gift on your website or your social media handles, it becomes a great way of advertising and attracting customers. You are not required to offer something big, but offering some small discounts or small items will help you gain customers’ attention. Gifts like coupons, free shipping, some percentage off on any order, etc can be good examples of giveaway gifts.
Google has made it easy for people to get their businesses recognized by making their profiles that appear in the display results. You can easily add business contact details, location on the map, working hours, etc. on Google My Business and claim your listing.
7. Get Reviews
The new way of spreading the word of mouth is by digitally giving reviews on review sites, directories, websites, Google business, and social media platforms. Getting testimonials and too positive ones on third-party websites and platforms maximize the effectiveness of promotions. When your targeted audience sees positive reviews about your business and its products on such platforms, people trust your brand and business and will in turn become your customers.
Many people register their businesses on Internet Directories. These directories usually have top search engine rankings and people who are looking for your business or related products and services will quickly find these links as they end up on the first page of web search results. There are many highly reputed Internet Directories where you can list your business for free. A few famous names include Yahoo, Google, as do Yelp, JustDial, and TripAdvisor.
While these were just a few examples of promoting your business, there are many other ways too. Advertising doesnât always require money, but all it requires is a little creativity. Running businesses in todayâs world and advertising for it has become easy because of the internet and social media. All you need is to exploit these resources to the best of your ability to advertise your business and make your mark.
FAQs
Which are the best digital platforms to advertise on?
Some of the best digital platforms for advertising are Facebook, Google, Youtube, etc.
Some of the best-paid advertising platforms are?
Some of the best-paid advertising platforms are Google Ads, Bing Ads, Amazon Ads, Youtube Ads, etc.
Which social media platforms are best for advertising?
Social media platforms like Facebook, Instagram, Twitter, and LinkedIn are some of the most preferred platforms for advertisements.
The increase of startups and the interest of young entrepreneurs to start their businesses has led to many schemes introduced by the Government of the country. Several opportunities are given, to pursue the dream of being an entrepreneur to the interested people. Out of so many schemes, one of them is Mudra Loan.
Mudra loan or the Pradhan Mantri Mudra Yojana (PMMY) scheme was launched in 2015 by the Prime Minister of India. MUDRA, which is short for Micro Units Development and Refinance Agency, provides loans up to Rs. 10 Lakh to the non-corporate and non-farming small and micro-enterprises. This also includes enterprises involving allied agricultural activities.
It is known globally that Indians have a great creative and innovative mind, however the majority of them are unable to convert these ideas into profitable businesses due to financial reasons. This is common in almost all the different sections of society. PMMY was mainly to encourage everyone to try and implement their ideas.
What is Mudra Loan?
In 2013, it was found that there were around 5.77 crore micro and small enterprises in India and about 60% of these were owned by backward classes. These units cannot be covered by the formal loan lending sectors. This means that they might have to depend on informal lending sectors which can lead to a lot of issues or manage with their own funds. The Mudra Loan scheme is to support young, budding entrepreneurs and also existing businesses to expand and experiment with their ideas. This is much more secure and the rate of interest is not very high.
The Schemes Under Mudra Loans
Mudra loans have several schemes under them and they are:
Shishu
This is when the amount required by the borrower is less than INR 50,000. This is usually given to entrepreneurs in their early stages. This is basically a working capital term loan. There are a few things that are checked in this case. The checklist here includes the Machinery quotations and the details. The machine details have to be provided perfectly well. The borrower should also provide all the details that the banks ask for. This might include the details of the supplier. This is basically for startups.
Kishor
This covers loans from INR 50,001 to 5,00,000. This is not for beginners but already established businesses when they want to expand their business operations. In this case, they might require tax returns. The lender needs to know all the details of the company. It is also required to submit the balance sheet for the last 2 years, the estimated balance sheet for 1 year, MOA and AOA, and the sales made before the company applied for the loan in the Financial year.
Tarun
This is another scheme that covers loans from INR 5,00,001 to 10,00,000. This is when the business owner meets certain preset conditions. The required documents and details are similar to that of Kishor but there are a few other proofs that are to be included. This includes the caste certificate, Address proof, Identity proof, and other essential documents. The loans are approved only if all the documents are perfect and none of the documents is missing or faked.
Who Can Borrow Mudra Loans?
Mudra Loan Schemes encourage women
There are various enterprises that can borrow under the Mudra loans scheme. This includes individual business entities, partnership firms, public companies, private companies, Proprietary firms and so on. Also, to be eligible to borrow this, the applicant should have a proper credit track record. The proposed activity is properly studied and based on that, the lender might ask for educational qualifications and other basic requirements.
The borrower will be eligible if he submits all the documents and has all the basic requirements listed by this scheme.
Sectors Covered Under Mudra Loans
Food product sectors
Textile
Transport and transport activities
Community, personal service and social activities.
Activities allied to farming and agriculture.
Finance for the equipment in micro-units.
Business loans for shopkeepers.
Features and Benefits of Mudra Loans
The key benefit of this scheme for borrowers is that they do not need to show collateral or security. Also, there is no processing fee for this. Also, there is no minimum amount that you need to borrow. It can be used for various purposes like expansion, modernization, machine purchase, renovation, etc. There is no processing fee involved. Only in the case of the Tarun loan, 0.5% of the loan amount is charged as the processing fee. Mudra loan can also be availed online and the repayment period lies between 3 and 5 years, depending on various factors. The interest percentage for Shishu is nil and for the other 2, it is 10%. Also, the age of the borrower must be above 18 and below 65 years to avail of Mudra loans.
Steps To Apply For Mudra Loans
It is very easy to apply for Mudra loans. You have to have all the necessary documents.
Step 1: Check what are the documents necessary for the amount you need and keep all the documents ready.
Step 2: Approach a financial institution. This loan is available in almost all renowned financial institutions. You can approach any one of them or even check their website out for details. Make sure to check if the financial institution is registered under the Mudra scheme.
Step 3: The next step is to fill out the application form carefully. Almost all the details like personal and business details. The documents have to be attached. Mention the amount you might need. There are different forms for Shishu, Kishore and Tarun. Choose the right form and keep the documents in hand while filling out the form.
Step 4: Wait for approval. Once the loan is approved, you will receive the Mudra card. You can use the card to draw the money you need.
This is the set process in almost all approved financial institutions. It is safe and secure.
Conclusion
Small businesses and entrepreneurs can go for a Mudra loan as it is easy to get approved and also it will help them get the first capital for their company. Since there is no collateral or security required, it can be availed by anyone satisfying the criteria. This serves as an encouragement for youngsters with an idea to get basic funding for their business idea and hence they will be able to put their idea into practice. This is available in various institutions and also can be dealt with online. This makes the entire process much easier than it is. The only major criteria are that all the documents to be submitted must be perfect and the borrower should be within the specified age limit.
FAQs
Who introduced Mudra Loan?
Prime Minister Narendra Modi introduced the Mudra loan.
When was Mudra Yojana announced?
The Mudra Yojana was announced on 8th April 2015.
How much loan is provided by Mudra Yojana?
Mudra Yojana provides loans of up to INR 10 Lakhs to borrowers.
Ashwini
