Categories
Business climate change startup Uncategorized

How businesses can combat climate change?

Small steps can make a large difference

What is the first thing that comes to your mind when you think about climate change? Amazon burning, India flooding, Antarctic melting, climate change brings in front of our eyes vivid pictures of the destruction.

Climate change refers to the natural or human-induced changes in the earth’s weather patterns. It is a result of factors like incessant use of fossil fuels, deforestation, the release of greenhouse gases, etc. Further, natural causes like varied solar radiation, variation in the earth’s orbit and rotational axis also contribute to climate change.

Climate change and Business
Simple steps by businesses to combat climate change

It is better to act before it is too late. We, as a business group can take significant steps to effectively combat climate change. In the course of this blog, I shall walk you through some simple steps through which businesses can combat climate change.

1. Use of cloud to combat climate change

Businesses can cut down on unnecessary hardware setup by working on the cloud. It is centralized, safe and secure. Further, it brings in the convenient transfer of information amongst the employees. Overall, it will reduce the number of trees being cut down, thereby reducing deforestation.

2. Transportation for employees

Reports suggest that air pollution due to personal vehicle use is set to increase by over 60% in the coming decades. Large businesses can ensure that the employees are provided a transportation medium like office bus or van. This would cut down immensely on carbon dioxide emissions.

3. Efficient lighting to combat climate change

Simple steps in your office like replacing all light bulbs with CFL lights would work wonders. Incandescent bulbs generate a large amount of heat resulting in the cooling system to work harder, thereby generating greenhouse gases. On an average, CFLs consume 70% less power as compared to incandescent bulbs. Also, this would avoid the harmful effect of disposing mercury present in the incandescent bulb. 

4. Waste segregation at source

Businesses can create a culture of proper waste segregation at source. Segregation of waste into wet, dry and chemical categories brings in a focused approach to waste management. This encourages a culture of recycling and reuse as well.

5. Use of renewable sources of energy to combat climate change

It is encouraging to see that businesses have adopted renewable sources of energy like solar, wind energy, etc to power their business. For example, Intel has over18 on-site solar plants with an installed solar capacity of approximately 7,000 kW.

6. Investment in green initiatives to combat climate change

Some businesses adopt passive measures by investing in green initiatives. It takes the form of investments in initiatives like recycling, biofuel production, tree plantation drive, etc.

7. Encourage recycling

Businesses could introduce centralized recycling bins to encourage employees to discard recyclable items light bulbs, batteries, aluminum cans & bottles and magazines are some items which could be easily recycled.

8. Measures at an individual level to combat climate change

Small measures by employees like switching off the light, turning off the tap, using paper cups instead of plastic cups and digitization of documents produce significant effects on the health of the earth in the long run.

9. Regular awareness campaigns

Monthly awareness and sensitization campaigns work wonders in the long run. It brings in a sense of business responsibility cum accountability to combat climate change.

For more blogs, visit http://blog.sabpaisa.in

YOU ARE READING THE ARTICLE COURTESY: SabPaisa (SRS Live Technologies) – headquartered in New Delhi with eight regional offices including Mumbai, Bangalore & Kolkata – is a rapidly growing fintech company having developed one of India’s most advanced AI-driven recurring payments platform bolstered by another of SabPaisa’s unique products: world’s first hybrid payment platform which has all the payment modes in a single checkout page, online and offline, from UPI to Cards to e-NEFT to e-Cash. Businesses that take SabPaisa’s payment gateway get real-time reconciliation and consolidated reports for all payments, recurring or one-time, online or offline, in a single dashboard, whether the payer is an 18-year-old in Kashmir paying through UPI or a 70 year paying through Cash in Kanyakumari. SabPaisa’s payments and collection application suite have already processed more than INR 12 Billion to date. Learn more about SabPaisa here:https://sabpaisa.in

 

 

Categories
Entrepreneur inspiration motivation startup Uncategorized

What makes a great leader?

Leaders make their actions do all the talking

Year 18th July 1980 was a landmark day for India. Dr. Abdul Kalam was the leader of the ISRO team which successfully launched Rohini satellite into the orbit. The missile man conducted the press conference along with his team. But, his success was not easy, nor was it isolated.

Year 10th August 1979 was another landmark day for India. This day, we failed to launch Rohini satellite into the orbit in the first attempt. This time, the press conference was led by Dr. Satish Dhawan, the ISRO chairman.

You might be wondering what he would have delivered in a callous situation? He just uttered these words: “We failed! But I have a very good trust in my team that next time we will be succeeding for sure”.

A true leader leads from the front in the face of crisis and takes the blame upfront. Similarly, in the face of success, a true leader lets the team lead from the front.

Now the question arises, do you think, you need power and position to be a leader? No, not at all. All of us have the leader in us, either consciously or unconsciously.

Leader without a title.
Explore the leader in you.

In this blog, I will elaborate on the top qualities of any leader. If you have this quality in you, take it to the next level. If you don’t, you could consider adopting some of them.

1. Vision

Leader with vision
Visionary leader

A leader is a daydreamer. Confused? A leader has a vision and he daydreams about it relentlessly. Further, the aura that he creates amongst his subordinates attracts them to his vision. Like a magnet that strongly pulls the iron towards itself, the vision of the leader attracts his followers towards himself. Hence, if you want to be a great leader, be visionary par excellence. For example, Barack Obama’s vision for America struck the right chord with the audience. The result, we all know the stunning consecutive tenures as the President.

2. Innovative

Innovative leader
Innovation as the hallmark of a leader

Rome was not built in a day. It is a result of hard work, patience, perseverance, and innovation. Innovation makes you stand apart from the crowd. Innovation gives vent to your creativity and takes you on a higher plane as the leader. For example, the life of Ratan Tata is an apt example of innovative leadership. Post-retirement, Ratan Tata has been actively involved in funding innovative startups. This is the mark of a great leader, he never lets innovative ideas go unnoticed or unsupported.

3. Positive

Positive leader
Positivity as the hallmark of a leader

He fought, he raised his voice against discrimination. But, in vain. Further, he was jailed for twenty-seven years. Nevertheless, his determination and courage stood unshaken. He remained positive throughout and dreamt of seeing his country free of apartheid. The positive and visionary leader was Nelson Mandela who has become an inspiration for generations to come.

Positivity is the hallmark of a true leader. A positive person never loses hope even in the jaws of death. He finds a solution to any crisis by hook or by crook.

4. Humility as a leader

Humble leader
Humility as the hallmark of a leader

It is one golden quality that keeps you grounded no matter how high you fly. Hence, humility is of pivotal importance for leaders. A long-lasting and strong relation gets formed with your subordinates upon exhibiting the quality of humbleness. Moreover, humility is the easiest way to build trust and forge relationships. For example, Gandhiji espoused a humble demeanor that made him stand out gentle amongst giants of his era.

5. Emotional Intelligence as a leader

Leader with emotional intelligence
Leader with emotional intelligence

Emotional intelligence is the ability to understand your emotions as well as that of others and the ability to handle the same. A leader has to deal with a diverse group of people with different characteristics and emotional levels. At this juncture, emotional intelligence helps him think from the shoes of his subordinates. This results in better resolution of conflicts. Hence, it is rightly said that ‘Attitude decides your altitude in life’.

6. Empathetic

Empathy and leadership
Leader and his quality of empathy

“Empathy is seeing with the eyes of another, listening with the ears of another and feeling with the heart of another.” – Alfred Adler

Empathy is one quality that sets apart good leaders from a great one. The perspective of a leader changes with empathy. He is able to better judge his teams’ requirements and make a healthy judgment. An empathetic leader stands by the poor and the destitute. Bill and Melinda Gates Foundation by billionaire Bill Gates supports education, health cum sanitation in poor and destitute countries.

7. Integrity

Leader with integrity
Leader with integrity

If you are a leader with integrity, you are hard to be replaced. Leaders with integrity espouse truth, no matter how hard it may seem. They never mince their words and lead with dignity. When a leader is integral, the subordinates have unconditional faith in him. In other words, they are rest assured that the decisions are taken in a good spirit.

8. Leader without a title

Leader without a title
Leader without a title

The world knows a handful of leaders. On the other hand, there are innumerable people who are doing selfless service behind the curtain. Jadav Payeng of Assam single-handedly planted an entire forest. Bal Pandian of Tamil Nadu took commendable steps to conserve avian species around Koonthakulam Bird Sanctuary.

They are the true leaders, who lead without a title. They could always remain invisible to the world, but their efforts are no less than the well-renowned leaders.

For more blogs, visit http://blog.sabpaisa.in

YOU ARE READING THE ARTICLE COURTESY: SabPaisa (SRS Live Technologies) – headquartered in New Delhi with eight regional offices including Mumbai, Bangalore & Kolkata – is a rapidly growing fintech company having developed one of India’s most advanced AI-driven recurring payments platform bolstered by another of SabPaisa’s unique products: world’s first hybrid payment platform which has all the payment modes in a single checkout page, online and offline, from UPI to Cards to e-NEFT to e-Cash. Businesses that take SabPaisa’s payment gateway get real-time reconciliation and consolidated reports for all payments, recurring or one-time, online or offline, in a single dashboard, whether the payer is an 18-year-old in Kashmir paying through UPI or a 70 year paying through Cash in Kanyakumari. SabPaisa’s payments and collection application suite have already processed more than INR 12 Billion to date. Learn more about SabPaisa here:https://sabpaisa.in

Categories
B2B blog Digital marketing Entrepreneur startup Uncategorized

Nine steps to develop a B2B blog

Blogging your way to boost business growth

What was your feeling when you wrote your first ever blog? What was the most challenging part of writing a blog? Was it research or the articulation of ideas? It depends on the type of blog you intend to pen down.

Blogs topics involve travel, food, hobbies, technology, etc. At present, businesses are capitalizing on blogs to reach their niche audience. Interestingly, B2B companies are turning to blogs to enhance their market reach.

What are the ingredients of a successful business blog? Topic, idea structuring, formatting and SEO guidelines play a crucial role in boosting the popularity of business content.

Blog for business
Craft a successful blog for your B2B business.

In the course of this blog, learn to craft a blog to suit your business and audience.

1. Blog topic selection

This is the first step in the creation of a business blog. The topic selection happens by keeping in mind the domain and the niche audience. In doing so, keep a track of trending blogs in your domain. By taking a cue from the topic, one can come out with topic ideas.

For example, a topic on ‘Ten must-read books for any entrepreneur’, multiple ideas are derived like:

  • List-based: Twelve must-read books for any entrepreneur
  • Keyword ‘entrepreneur’ based: Ten must-read books for any non-entrepreneur’

2. Topic research

Topic research is the second crucial step in blogging. In other words, topic research involves finding the right content for your blog. One needs to keep in mind the dimensions of the content. The more the dimensions, the more innovative and interesting the blog becomes. For example, a blog on starting a business covers dimensions of finance, administrative approvals, business laws, etc.

Hence, the more informative and innovative the content is, the more will be the backlinks and referring domains for your business. Further, more backlinks result in a gradual increase in your potential client base.

3. Introduction

The first impression matters a lot. Hence, blog introduction is the best way to make a first impression. While penning down the first paragraph, the gist of your content should be clearly visible. The basic idea must be expressed in a simple yet lucid manner. Also, make sure that the focus keyword of your blog is prominently seen, to comply with the SEO standards.

4. Content organization

Content organization is the most challenging part of writing a blog. The technique to arrange the content of the blog involves brainstorming ideas into numerous headings and subheadings. The transition to the ideas needs to be smooth with appropriate use of transition words. Also, indented paragraphs provide more clarity to the ideas being expressed. Further, the use of lists for summarising the blogs makes it more readable.

5. Innovative ideas

Innovation is a must for your blog to stand out. How to bring innovation into your content? A thoughtful quote at the beginning or end of the blog adds more value. Secondly, incorporate graphic pictures to make your message loud and clear. Thirdly, try out funny GIFs and Memes to make mundane business topics interesting.

On the whole, make sure to think out of the box to make your content appealing to your audience.

6. Language check

A blog with unpleasant grammar is a turnoff for any business deal. In other words, grammar forms the basic benchmark for any content. Make sure that you use a tool to keep your grammar in check. Some of the common tools/editors for grammar check are Grammarly, text metrics, WordPress, etc.

7. SEO formatting

Search Engine Optimization refers to the optimization of your blog according to google search rankings. It keeps in check the right use of images, alt texts, captions, heading visibility, etc. Also, ensure that the focus keyword use happens an adequate number of times. This enhances the search process involving the keyword. As a result, the probability of your content being searched online goes high.

8. Blog publishing

Once you have finished your blog optimization, it is time to publish it. Based on the size of the business and budgetary requirements, there are a number of publishing platforms. The best-known publishing platforms are WordPress.org, Blogger, Tumblr, Gator, etc.

9. Blog promotion

It involves the use of different media platforms to promote your blog. Some of the well-known media platforms are Facebook, Twitter, LinkedIn, Instagram, etc. Also, ensure that you add the relevant hashtags and tags to enhance your post visibility and outreach.

For more blogs, visit http://blog.sabpaisa.in

YOU ARE READING THE ARTICLE COURTESY: SabPaisa (SRS Live Technologies) – headquartered in New Delhi with eight regional offices including Mumbai, Bangalore & Kolkata – is a rapidly growing fintech company having developed one of India’s most advanced AI-driven recurring payments platform bolstered by another of SabPaisa’s unique products: world’s first hybrid payment platform which has all the payment modes in a single checkout page, online and offline, from UPI to Cards to e-NEFT to e-Cash. Businesses that take SabPaisa’s payment gateway get real-time reconciliation and consolidated reports for all payments, recurring or one-time, online or offline, in a single dashboard, whether the payer is an 18-year-old in Kashmir paying through UPI or a 70 year paying through Cash in Kanyakumari. SabPaisa’s payments and collection application suite have already processed more than INR 12 Billion to date. Learn more about SabPaisa here:https://sabpaisa.in

 

Categories
Entrepreneur Entrepreneurship fintech payment gateway startup Uncategorized

Innovative techniques for business growth

Tips and tricks to build your business with less investment

Started your own business but lost hopes on not seeing any growth? Capital investment, technology up-gradation, marketing, etc not paying any dividend? If so, you are missing out on some nitty-gritty of business growth.

Successful businesses try to replicate the good practices of their peers. They get the most simple thing right. For example, they make their websites more optimized and appealing. They have more community interaction and peer alliances.

Grow your business
Grow Your Business with these simple tips

In the course of this blog, I will walk you through some simple and inexpensive tips to grow your business. Some tips are very simple that it is often overlooked.

1. Social media visibility for business growth

Social media
Social media for business growth

Top companies have dedicated account on the prominent social media platforms like Facebook, LinkedIn, Twitter, etc. An appealing profile pic and header along with a concise bio provides you with more visitors. The more the number of clicks on your page, the more the chances of visibility of your business.

Secondly, regular posting of well-curated content works wonders. It acts as a credible portfolio for your business. The knowledgeable content on your platform gets the attention of top influencers in your field. This is the quick way to grow your business by leaps and bounds.

2. Regular blogs

Blogs for business growth
Blogs for business growth

Blogging is a significant yet powerful way to outreach your niche customers. It is an inexpensive way to get ranked on the Google SEO results. The regular the blogs, the more the chances of getting noticed on the web. In this way, the probability of your business content being shared increases.

Hence, the next time you get down to blog, think of the huge growth prospects that your words bring to the company.

3. Collaboration for business growth

Collaboration for business growth
Collaboration for business growth

Have you ever shied away from business alliances? Frightened of competition and plagiarism? It’s time to shed your inhibitions.

Successful businesses have learned and grown together. Joint business festivals and workshops help a long way in knowledge sharing. It brings in exposure to good practices. Also, it is a good opportunity to get noticed by successful peers in the industry. As they say, a good opportunity knocks your door unexpectedly.

4. Mobile-friendly website

Mobile friendly website for business growth
Mobile friendly website for business growth

How do you feel when a website takes a too long time to load? Frustrating isn’t it? Now, imagine yourself in the shoes of your customer. A customer will not wait for a long time to make an emergency payment. In these scenarios, it is necessary to have a mobile-friendly website that loads easily with minimal glitches. It is the last thing you want your customer to give negative feedback publicly.

5. Live chat facility

Live chat facility
Live chat facility for business growth

The growth of any business depends on customer satisfaction in the long run. In other words, a prompt and quick response is the best way to win the hearts of your customers. A live chat facility can work wonders. A real-time solution to their problems will bring in more satisfaction resulting in good brand image for your business. A positive review on a platform like Google will make your business high-ranked.

6. Inbound email marketing

Inbound email marketing
Inbound email marketing for business growth

It refers to the process of finding the right customers for your business through a focussed marketing strategy. It involves the scheduling and forwarding of emails customized for different categories of customers. In doing so, you can ensure the outreach to the right customers in your niche domain. It is one of the easiest ways for small businesses to grow online.

7. Community interaction for business growth

Community interaction
Community interaction for business growth

Businesses need new ideas to enhance their growth path. Being a part of a business community brings in value-addition to your business. As a business, you can learn from the plethora of questions posted online. Further, interaction with peer businesses online is a great way to build long-lasting relationships online. For example, Small Business Forum.net, Business Advice Forum, StartupNation Community, etc are some communities for small businesses online.

8. Event participation

Event participation
Event participation for business growth

How frequently do you participate in business events? Business events provide you with the opportunity to showcase your unique products to the business community. Further, it’s the best platform to interact with top-notch business magnates and get your business recognized. Probably, one of them will end up as an investor in your prospective startup.

9. Product innovation for business growth

Product innovation
Product innovation for business growth

It is one of the best ways to stand out in the business market. A unique and compelling product that stands out in the market will naturally have more takers. Further, it will also attract the best brains to your company. Hence, make sure that you continuously innovate to grow your business.

For more blogs, visit http://blog.sabpaisa.in

YOU ARE READING THE ARTICLE COURTESY: SabPaisa (SRS Live Technologies) – headquartered in New Delhi with eight regional offices including Mumbai, Bangalore & Kolkata – is a rapidly growing fintech company having developed one of India’s most advanced AI-driven recurring payments platform bolstered by another of SabPaisa’s unique products: world’s first hybrid payment platform which has all the payment modes in a single checkout page, online and offline, from UPI to Cards to e-NEFT to e-Cash. Businesses that take SabPaisa’s payment gateway get real-time reconciliation and consolidated reports for all payments, recurring or one-time, online or offline, in a single dashboard, whether the payer is an 18-year-old in Kashmir paying through UPI or a 70 year paying through Cash in Kanyakumari. SabPaisa’s payments and collection application suite have already processed more than INR 12 Billion to date. Learn more about SabPaisa here:https://sabpaisa.in

 

Categories
Business Digital marketing Entrepreneur inspiration startup Uncategorized

7 tips to work from home with efficiency

Productivity with flexibility

The present-day workplace is becoming more and more flexible. Employees are preferring the work from home mode to maintain a proper personal-professional life balance. Interestingly, work from home comes with advantages ranging from a flexible schedule, reduced commutation costs as well as spending some quality time with your loved ones. On the other hand, work from home comes with its own set of challenges like an increased distraction or reduced productivity.

Work from home
Some tips to work from home with efficiency

But, don’t worry, in the course of this blog, I will walk you through seven tips to boost your work productivity while working from home.

1. Cloud storage for work efficiency

It is good to store all the important office documents on the cloud server. By doing so, you can log in from any device and complete your task. In this way, you can avoid the overdependence on office workstation. Work anytime, anywhere, without compromising on your data.

2. Official attire

Have you felt sleepy in your pajamas while working from home? Were you lazy to change? Dressing makes a lot of difference in one’s attitude and work. The better dressed you are, the more confident and attentive you are.

Hence, when you are working from home, try to be dressed in the formal, official outfit. It will give you a real office feel. Also, this makes you work with more seriousness.

3. Work – Friendship management

When you work from home, there is a chance of some friend dropping by to meet you. How can you avoid such unexpected run-ins and meetup? One can come out with a definite schedule to meet one’s friend. Make meetup plans for the weekend. Talk it out with your friend and make a mutually agreed schedule.

4. Regular office communication

There are chances of getting distracted when you are working from home. Hence, make sure that you are in regular touch with your colleagues. Connect to them via hangout, WhatsApp or email to get work updates. This will give you an office environment and keep you on your toes.

5. Customized work area

Do you have a dedicated area to work at your home? Having a separate room as your work area is essential to have maximum productivity. Even if it is not a proper work setup, a solitary room is required to keep up your focus.

6. Minimize social media usage

Social media is a necessary evil in the present-day world. Imagine doing your company job via Facebook and Whatsapp. In addition, social media has brought the world closer. But, it can become a nuisance when you work from home. Unending chats on Facebook or Whatsapp leads to a reply chain running over hours.

Now, you might ask, what if I am the social media handler of my company? The answer is simple. Turn off your message notifications. Only respond to company page updates on your social media. Train your mind to respond to personal social media stuff at a definite time of the day. Eventually, you will see the productivity gains from this exercise.

7. Calendar Maintenance

Planning is the first step towards completing your task with efficiency and effectiveness. Excel sheet is a simple way to create focussed plans with flexible updation features. Also, google calendar provides customized calendars for different business settings.

Make use of either of the above application while working from home. Plan meticulously and scrutinize your plan every week for optimum results.

For more blogs, visit http://blog.sabpaisa.in

YOU ARE READING THE ARTICLE COURTESY: SabPaisa (SRS Live Technologies) – headquartered in New Delhi with eight regional offices including Mumbai, Bangalore & Kolkata – is a rapidly growing fintech company having developed one of India’s most advanced AI-driven recurring payments platform bolstered by another of SabPaisa’s unique products: world’s first hybrid payment platform which has all the payment modes in a single checkout page, online and offline, from UPI to Cards to e-NEFT to e-Cash. Businesses that take SabPaisa’s payment gateway get real-time reconciliation and consolidated reports for all payments, recurring or one-time, online or offline, in a single dashboard, whether the payer is an 18-year-old in Kashmir paying through UPI or a 70 year paying through Cash in Kanyakumari. SabPaisa’s payments and collection application suite have already processed more than INR 12 Billion to date. Learn more about SabPaisa here:https://sabpaisa.in

Categories
digital payments Entrepreneur Financial intermediary fintech Hybrid payment gateway payment gateway startup Uncategorized

Top seven startup laws in India

Be compliant with these basic laws to kickstart your startup

KPMG research shows that startups in India have seen a steady rise by seven times in the last decade. This is attributed to a slew of favorable government laws and initiatives in India. As a result, India’s image has grown by leaps and bounds as a startup-friendly country.

Hence, if you are an aspiring startup or a new startup, make sure that you comply with certain startup laws and regulations for the smooth running of your startup in India. Interestingly, India has a number of laws for startups ranging from contract laws, incorporation laws, patent laws, taxation laws, etc.

Startup laws in India
Know the nitty-gritties of startup laws in India

In this blog, I will talk about the core startup laws in India in a simplified fashion.

1. Limited Liability Partnership Act, 2008

Limited Liability Partnership Act, 2008 governs the formation of Limited liability partnership firms in India. Startups registered as LLPs have the flexibility of entering into contracts, hold properties, etc irrespective of the subsequent change in the partners involved.

Provisions of the Limited Liability Partnership Act, 2008:

  • LLP Agreement: It is not mandatory to have an LLP agreement. This reduces the technicalities involved, thereby easing the working of a startup.
  • Penalty: Violation of this Act results in a penalty of a maximum of five lakhs and a minimum of five thousand rupees.
  • Audits and accounts: Audit of accounts of the LLP is mandatory if turnover exceeds 40 lakhs or contribution by partner exceeds by 25 lakhs.

2. Companies Act, 2013

Companies Act, 2017 is the fundamental law for the formation, functioning, regulation, and dissolution of a company. It clearly sets out the responsibilities for different stakeholders of a company like directors, major shareholders, minor shareholders, etc.

Important provisions of Companies Act, 2013 are:

  • One person company: The new provision allows any company to be solely led by one person ( as both the director and the shareholder).
  • Shareholders: Maximum shareholders in a company could go up to a maximum of 200.
  • Women director: The Act provides for the mandatory appointment of a minimum of one woman board director.
  • Corporate Social responsibility: Every company which either has a net worth of Rs 500 crore or a turnover of Rs 1,000 crore or net profit of Rs 5 crore, needs to spend at least 2% of its average net profit for the preceding three financial years on corporate social responsibility activities. 

3. Competition Act, 2002

Competition Act, 2002 governs the competitive activities of different organizations in the Indian market scenario. It ensures fair play in the Indian market by keeping a check on anti-competitive activities by the different players.

Key provisions of the Competition Act, 2002 are:

  • Competition Commission Of India: It is the central regulator for monitoring and keeping a check on anti-competitive practices in India.
  • Penalty: CCI can enforce a penalty of up to 1 lakh on any company for anti-competitive practices. 
  • Appeal: Appeal against CCI’s decision can be made by the aggrieved party within sixty days of the judgment in the Supreme Court of India.

4. Insolvency and Bankruptcy Code, 2016

Insolvency and Bankruptcy Code, 2016 aims to create a unified system for dispute resolution in India. It speeds up the dispute resolution process with the help of independent institutions and functionaries. In the past, dispute resolution in India was plagued by issues like red-tapism, organizational inefficiency, etc. Insolvency and Bankruptcy Code, 2016 intends to correct this loophole.

The provisions of Insolvency and Bankruptcy Code, 2016 are:

  • Dispute resolution time: Dispute resolution varies for corporates as well as individuals. The time frame is 180 days, extendable by 90 days for companies. For startups, the time frame is 90 days extendable by 45 days.
  • Dispute resolution request: Dispute resolution request can be put forth both by creditors as well as debtors.
  • Insolvency and Bankruptcy Board of India: IBBI is the insolvency regulator overseeing dispute resolution throughout the country. The board consists of 10 members including representatives from the Ministry of Finance, Law, and RBI.
  • Adjudicatory process: National Company Law Tribunal adjudicates in case of company and LLP firms. Individual and partnership firm related adjudication handled by Debt Recovery Tribunals.

5. Goods and Services Tax Act, 2016

GST Act aims to bring in a single, common taxation regime in the country by combining both central and state government taxes. It comes with the benefits of avoiding double taxation, lowering the prices of commodities and bringing in a competitive market.

Provisions of Goods and Services tax are:

  • GST slabs: The GST system currently has four slabs — 5%, 12%, 18%, and 28%. This simplifies the multiple taxes under the VAT system.
  • Central GST and State GST: Central GST to be levied and collected by the central government and State GST to be levied and collected by the state government.
  • Integrated GST: Integrated GST to be levied and collected by the Central government in case of inter-state transactions.
  • GST Council: GST Council is the governing body for revision of GST on a periodic basis.
  • Beneficial clause for Startups: By availing the input tax credit, startups can offset the regressive effects of the VAT system.

6. Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015

This act deals with the resolution of commercial disputes. Accordingly, commercial courts and commercial divisions of the high court can adjudicate on commercial disputes with a value of at least 3 lakhs.

It’s salient features include:

  • Commercial courts: Commercial courts to be established at the district level and also in the territories with the high court’s primary jurisdiction.
  • Commercial appellate courts: Commercial appellate courts are set up in the areas where original jurisdiction of the high court is non-applicable.
  • Mandatory mediation: Compulsory mediation provided in cases where there is no need for urgent relief.

7. Arbitration and Conciliation Act, 2015

Arbitration and Conciliation Act, 2015 deals with the arbitration of commercial disputes in an institutional fashion. Further, the act aims to make the arbitration process more cost-effective and client-friendly.

The salient features of the Arbitration and Conciliation Act, 2015 are:

  • Arbitral institutions: Supreme Court and High Courts to create arbitral institutions for dispute resolution, that can be directly approached by the parties for dispute resolution.
  • Arbitral award time: Arbitral award to be given within twelve months period, which could be extended by another six months.
  • Arbitration Council of India: Lays down norms for grading arbitral institutions and ensuring an environment of alternate dispute resolution (ADR).

For more blogs, visit http://blog.sabpaisa.in.

YOU ARE READING THE ARTICLE COURTESY: SabPaisa (SRS Live Technologies) – headquartered in New Delhi with eight regional offices including Mumbai, Bangalore & Kolkata – is a rapidly growing fintech company having developed one of India’s most advanced AI-driven recurring payments platform bolstered by another of SabPaisa’s unique products: world’s first hybrid payment platform which has all the payment modes in a single checkout page, online and offline, from UPI to Cards to e-NEFT to e-Cash. Businesses that take SabPaisa’s payment gateway get real-time reconciliation and consolidated reports for all payments, recurring or one-time, online or offline, in a single dashboard, whether the payer is an 18-year-old in Kashmir paying through UPI or a 70 year paying through Cash in Kanyakumari. SabPaisa’s payments and collection application suite have already processed more than INR 12 Billion to date. Learn more about SabPaisa here:https://sabpaisa.in

 

 

 

Categories
Entrepreneur Entrepreneurship inspiration motivation startup Tweets twitter Uncategorized

12 best twitter accounts to follow for every startup

Twitter was my best companion during my UPSC preparation days. My day started with surfing the daily news headlines through the accounts I followed. The new ideas brought in innovation to my answers.

Twitter continues to be my knowledge hub. As a writer, it gives me the opportunity to follow popular writing accounts. As a result, I have been adopting good writing practices to become a better writer every day.

In a similar way, twitter is the ideal knowledge platform for millions of entrepreneurs. In other words, Twitter is the cheapest medium to share ideas for small businesses like startups. Successful business magnates share ideas via videos, articles, links, etc which is free to share and access.

Twitter accounts
Twitter accounts to aid your startup growth

In this blog, I have compiled a list of twelve must follow twitter accounts for every startup. Get ready for some amazing information sharing experience.

PEOPLE ON TWITTER

1. Richard Branson @richardbranson

Richard Branson is an entrepreneur based in London. He is the founder of the Virgin Group. In 2007, he was Time’s 100 most influential person. His twitter feed is filled with both information and motivation. His tweets touch upon a wide range of issues like business setup, human rights, climate change, etc.

Best selling book of Richard Branson: Losing my virginity

TED Talk by Richard Branson: Life at 30,000 feet

Thought provoking tweet on ocean protection

2. Elon Musk @elonmusk

Elon Musk is an engineer and entrepreneur known famously as the founder of SpaceX, an aerospace company. His tweets give wide insights into space technology and renewable energy ideas. In addition, his feeds focus on his primary ventures based on artificial intelligence, Hyperloop technology, and electric vehicles.

If you are a core technology freak, you should not miss following his account.

Best selling book of Elon Musk: Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future

TED Talk by Elon Musk: The mind behind Tesla, SpaceX and Solarcity.

3. Reid Hoffman @reidhoffman

Reid Hoffman is an author, venture capitalist, and entrepreneur. He is the co-founder of LinkedIn which is a professional networking platform. His feed is filled with tweets and retweets from a number of peer entrepreneurs. For example, the tips on better work productivity come in handy for any small business. Also, Reid Hoffman shares regular podcasts which is an impetus for new ideas.

Best book by Reid Hoffman: The Start-up of You: Adapt to the Future, Invest in Yourself, and Transform Your Career

TED Talk by Reid Hoffman: https://blog.ted.com/be-the-entrepreneur-of-your-own-life-reid-hoffman-at-ted2012/

4. Bill Gates @BillGates

One of the renowned entrepreneur, philanthropist, author and investor, Bill Gates is the founder of the multinational software company Microsoft Incorporation. His account showcases the work of his foundation Bill and Melinda Gates Foundation in addition to interesting technology news. The feed on education, health, and humanitarian issues are commendable and worth emulation.

Best book of Bill Gates: Business at the speed of thought

TED Talk by Bill Gates: Innovating to Zero

5. Kiran Mazumdar Shaw @kiranshaw

Kiran Mazumdar Shah is the founder and chairperson of Biocon Ltd, India’s leading pharmaceutical company. Her tweets give insights into both technological cum current national/international issues of significance. For example, her tweets on new inventions in the biopharmaceutical field stand out from the rest. Her handle is a must-follow for any knowledge seeking person.

6. Hiten Shaw @hnshah

Hiten Shaw is a popular investor in multiple startup platforms. The famous ventures include KISSmetrics and crazy egg. Make sure you follow his account to get motivational quotes in addition to startup updates.

BRANDS ON TWITTER

1. Entrepreneur @Entrepreneur

Entrepreneur brings to your table daily tips to grow your business. A glance through the feed is enough to fill you with inspiration and creativity. Hence, do follow the account to arouse your creativity to the next level.

2. TechCrunch @TechCrunch

It is the one-stop account to catch up with all the technology news and its analysis. Also, blog compilation forms an integral part of TechCrunch feed. Be it content curation or content writing, TechCrunch acts as a reliable platform, to begin with.

3. Hubspot @HubSpot

Hubspot is an online platform for sales and inbound marketing. The twitter feed provides insights into tools for content marketing, SEO and Social media handling. Interestingly, one can frequent tweets of Hubspot help handles.

4. PaymentSource @payments_source

The account is focussed on news analysis from the payments domain. If you are looking for new solutions and ideas for your payment startup, PaymentSource is a must in your follow list.

5. Inc Magazine @Inc

Inc magazine presents business news and ideas in a lucid and interesting fashion. The views of renown personalities give ample scope for out of box thinking for a new business.

6. Forbes Magazine @Forbes

Forbes is the sought after platform for both businesses and non-businesses alike. The feed is replete with the experiences of professionals from different walks of life. Therefore, make it a point to follow Forbes for amazing business hacks.

If you have liked the post, please like, share and post your valuable comments in the comments section below. Constructive feedback is appreciated. For more posts, visit http://blog.sabpaisa.in

YOU ARE READING THE ARTICLE COURTESY: SabPaisa (SRS Live Technologies) – headquartered in New Delhi with eight regional offices including Mumbai, Bangalore & Kolkata – is a rapidly growing Fintech company has developed one of India’s most advanced AI-driven recurring payments platform bolstered by another of SabPaisa’s unique products: world’s first hybrid payment platform which has all the payment modes in a single checkout page, online and offline, from UPI to Cards to e-NEFT to e-Cash. Businesses that take SabPaisa’s payment gateway get real-time reconciliation and consolidated reports for all payments, recurring or one-time, online or offline, in a single dashboard, whether the payer is an 18-year-old in Kashmir paying through UPI or a 70 year paying through Cash in Kanyakumari. SabPaisa’s payments and collection application suite have already processed more than INR 12 Billion to date. Learn more about SabPaisa here:https://sabpaisa.in

Categories
banking digital payments Financial intermediary fintech payment gateway startup Uncategorized

Frauds in online payments explained

Simple tips to avoid frauds

A study conducted by the Center for Strategy and International Studies (CSIS) & McAfee show that online fraud is equivalent to 0.8% of the world’s GDP. Most importantly, payment frauds form a major part of this figure.

Online payment frauds connote the illegal transaction by fraudulently acquiring the customer’s credentials. For example, it takes the form of credit/debit card fraud, data theft, friendly fraud, phishing, etc. Incidentally, the advance of technology has advanced the fraud involved as well. Also, fraudsters have devised complex techniques to come out with sophisticated frauds which are very difficult to detect.

Online payment frauds
Some time tested techniques to handle online frauds
Learn the simple tips for combating online payment frauds

In this blog, I will take you through some simple yet time-tested methods to tackle online payment frauds. As they say, prevention is always better than cure.

1. Data Theft frauds

This most common mode of online payment fraud involves stealing digital information of customers like banking account details, credit/debit card information, PIN, etc. For example, in 2017, 1 in 15 people had their identities stolen. Subsequently, the hacking of the credential holder’s account takes place with the stolen data. Further, data theft is also a result of employee negligence in handling an organization’s data. 

Data theft prevention techniques:

  • Regular malware check on the computer system.
  • Use of debit/credit card with pin-chip technology.
  • Frequent change of password every 1-2 months.
  • Regular installation of updated software on systems.
  • Ensuring a secure and protected wifi connection.
  • Do not respond to unauthorized and spam emails.

2. Phishing frauds

In Phishing, hackers camouflage as financial institutions and contact the target victims. In doing so, the various adopted modes are email, telephone, text, etc. For example, the potential target luring happens with fake offers, false email links, attachments and emails from unknown senders. Further, studies show that phishing accounts for 90% of all the data breaches.

Phishing frauds prevention techniques:

  • Use of email filters.
  • Change in browser settings. Do not autosave passwords for payment sites.
  • Timely fraud report to banks to ensure speedy action cum monitoring.
  • Keep a track of URL of links in an email. It is a potent outlet to fraudulent sites that steal user data.

3. Friendly fraud

Friendly fraud is one of the toughest fraud to detect. Herein, a customer makes an online payment and then disputes the purchase by contacting the credit card issuer. Going ahead, the fraudster is refunded while the fraud continues on different payment platforms. Studies show that friendly fraud increases at a rate of 41% every two years. It is on the rise due to the increasing presence of e-commerce companies. Moreover, it is very challenging to detect friendly fraud due to the favoring of customers by credit card companies.

Nevertheless, an estimate of friendly fraud is made by observing a larger than usual average transaction. Also, a high frequency of order coupled with a high amount of stolen orders suggests the presence of friendly fraud.

Friendly fraud prevention techniques:

  • Call recording to verify the veracity of the order.
  • Saving the product delivery information by confirming the signature verification.
  • Blacklisting of suspicious, fraudulent customers.
  • Building cordial relations with customers to maintain a positive brand image.
  • Interconnectivity with online payment peers to obtain updated information about fraudulent customers.

4. Triangulation fraud

This fraud primarily involves three parties involved in a transaction. Firstly, a customer places an order with an e-commerce site. Secondly, the e-commerce site is a fraudulent seller which takes the order and reorders on another website using stolen payment credentials. Lastly, the legitimate e-commerce website unsuspectingly processes the fraudulent order. For example, triangulation fraud is common in the trade of electronics appliances, pet supplies, tools, etc.

Triangulation fraud prevention techniques:

  • Keep a track of repeated product selling behavior of the retailer.
  • Connect with triangulation fraud victims to ascertain the fraud strategy
  • Be in touch with auctions/marketplaces that are known to host fraudulent sellers.

5. Refund fraud

Refund fraud occurs in a situation wherein a customer engages in the frequent return of ineligible items without any concrete reasons. For example, stolen or damaged goods are frequently returned. It often results in e-commerce sites hiking prices to recover the loss due to fraudulent returns.

Refund fraud prevention techniques:

  • Flagging customers resorting to frequent returns.
  • Stricter return policies like discouraging returns without a valid receipt.
  • Serial numbers on goods for verification.

On the whole, payment frauds are an inevitable part of transactions in a digital era. However, the tips and tricks mentioned above can be used to reduce it considerably, if not eliminate it. In addition, be well prepared for any unforeseen scenarios during online payments. Always, keep in touch with the concerned banking and regulatory authorities to safeguard your business and buyings.

For more blog posts, visit http://blog.sabpaisa.in

Categories
digital payments Hybrid payment gateway payment gateway startup

Six capital raising options for your startup

Tips to ensure regular capital for your business

She was young, she was bright, she was full of energy and she wanted to do something remarkable in life. But, her impediments came in the form of gender, age, and finance. Snubbed by banks and considered as a high-risk customer, she struggled with the capital while setting up her venture.

Nevertheless, her sheer grit, determination, and the venture capital model came to her rescue. She set up her first venture with a paltry sum of Rs.10,000 from a garage in Bangalore. Now, she is a successful entrepreneur by the name Kiran Mazumdar Shaw, the Chairman, the MD, and the founder of Biocon. The success of her startup venture has inspired generations.

Capital for startups
Six ways to raise startup capital

Are you facing the same problems as confronted by Kiran Mazumdar Shaw? If so, this blog is for you. These simple tips will enable you to find funding for your dream startup.

1. Bootstrapping method to raise capital

Bootstrapping refers to the use of a self-financing mechanism to raise capital for your venture. Individuals or institutions with an optimum amount of saving use this method. Herein, the role of external financers like angel investors, crowdsourcing, venture capitalists, etc is not present. For example, corporate giants like HP, SAP, and Dell is well known for humble beginnings through the bootstrapping method.

The major benefit of the self-financing method is the retention of the decision making power of the entrepreneur in his business. On the other hand, self-financing comes with financial insecurity in the face of cost overruns and unforeseen challenges.

2. Angel Investors

Angel investors are wealthy individuals providing funding for startups. Funding happens in exchange for ownership equity or convertible debt. Herein, funding is either on a one time or an ongoing basis. Generally, their own money is used for investing in the startup venture. For example, Meena Ganesh, CEO of Portea Medical, is an investor in four startups. In other words, friends, family, and crowd-sourcing options are the major sources of angel investments.

The major advantage of Angel investment is the inflow of a large amount of money for startups. The high inflow further brings in the option of experimenting and taking a risk. Nevertheless, there is a major associated risk of losing one’s decision making control of the company. Also, angel investments do not guarantee regular investments and cash flow. There are chances of fraudulent investment also.

3. Venture Capital

As compared to Angel Investors, Venture Capitalists do not invest their own money in a startup. Instead, the money pooled from different sources is invested in the venture. In return, Venture Capitalists get an equity stake in the venture. Moreover, unlike Angel Investors, Venture Capitalist investment happens at a matured stage of the company. Helion Venture Partners, Blume Ventures and Nexus Venture Partners are the famous Venture Capitalists in India.

In addition to the huge cash flow, the business expertise that comes with a Venture Capitalist is immense. The high profile contacts of Venture Capitalist is a long-lasting source of future business opportunities. Also, the support in the form of tackling legal and procedural challenges of a nascent company is worth noting.

On the other hand, Venture Capitalist funding comes with the downside risk of losing decision making control of your startup. This is detrimental to the success of any startup in the long run.

4. Loan

Bank loans are one of the safest ways of financing your business. Unlike Angel Investors and Venture Capitalists, banking loan doesn’t come with an equity stake or convertible debt. Further, bank loans come with affordable interest rate norms, usually in tune with government incentives. Also, the ensuing taxation benefits further boost startups.

However, bank loans come with procedural and approval challenges. The time consumed in paperwork runs into months in certain cases. Also, bank approval is difficult for startups in very nascent stages of businesses.

5. Government programs and Incentives

Governments across the world are putting in place incentive schemes for the growth of startups. For example, the Indian government’s Startup India scheme gives funding to startups from a consolidated pool of 10,000 crores. This brings in much-needed funding for startup growth. Further, the self-compliance clause gives room for greater trust in the long run. Also, freedom from Capital Gains Tax is a confidence builder for continuing future experimentation with creativity.

On the downside, there is an increased risk of micromanagement by government agencies. This is in the form of delay in approval and disposal of funds.

Hence, the handholding by government schemes is a vital factor for the creation of conducive startup culture.

6. Crowdfunding

Crowdfunding is the process of gathering funds from multiple sources like peers, individuals, venture capitals, angel investors, etc. The different types involve donations, online campaigns, debt, equity, etc. Elanco, Lego, and Unilever are some examples of companies with the crowdfunding platform.

On the positive side, crowdfunding brings in diverse funding options for a startup. Interestingly, there is a brand-building from scratch due to the wide clientele exposure. Also, there is scope for valuable suggestions and feedback which aids in the growth of the startup.

On the downside, crowdfunding brings in the risk of enhanced competition. It is seen that crowdfunding is increasingly becoming popular among businesses, both big and small. Finding the space for your startup is a time-consuming process. Also, the fees associated with various crowdfunding platform is exorbitant. This eats into the profits of startups.

Have you made up your mind on the mode of financing your startup? Depending on the domain, intent, and size of your startup, choose the apt funding option viable for your business. If you have a stable saving, dive into bootstrapping. If parting with decision making is not an issue, explore angel investments and venture capital. Further, if you find the government programs and the bank incentives interesting, go ahead with these options. Lastly, if you are looking for different ideas in addition to diverse funding options, crowdsourcing is your ideal destination.

Do not be deterred with the roadblocks. Just remember that successful entrepreneurs like Kiran Mazumdar Shaw and Bill Gates walked a similar path. The journey of a thousand miles begins with a single step.

Feel free to drop in your valuable comments in the comment section. Let’s learn and grow together.

For more blogs, visit http://blog.sabpaisa.in .