Beware all SMEs– Very shortly —provisions of Insolvency and Bankruptcy Code, 2016 (IBC] will be applicable to SMEs also –. To avoid the severe effects of the provisions of the Act, we have to be ever vigilant and be proactive in warding off this danger. We can easily do this provided we are own masters. Basic necessity is to understand our balance sheet and profitability and the equally important need to prepare cash flow statement from time to time—-Not the least important being able to know how we are assessed by banks. This website helps you with this and a lot more. Word of caution –though—do not blindly rely on any information given in the website without referring it back to your consultant/s. Of course I would be too happy to respond to any query—via email— on any of the topics listed in the website.
I have experienced that Bank authorities have time constraints and hence are not able to devote sufficient time to clients who are thus deprived of an opportunity to discuss their issues in detail and are thus denied a viable solution to their problem/s. To be fair to Bank authorities, it must be admitted that SMEs are not able to give the data that the bank authorities need. I know this for sure because I worked on both the sides and have experienced that if sufficient credible data / information is given to Bank authorities, they do find a solution. I worked in a nationalized bank in managerial as well as executive position and I also worked with SMEs to enable them to solve their problems. This dual role enabled me to understand what Banks expect from SMEs and what SMEs expect from Bank. My focus is to create an ” enabling environment ” for the SMEs. Through the medium of this website, I desire to achieve this. I am aware that there could be issues apart from generalized issue/s and hence I would be too glad to respond to any query and I be approached via mail on — email@example.com. Further I would be happy to get a feedback from viewers with a view to further improve the contents of the website.