India Small Business News Round-up – 2009/01/22

Here is this week’s news round-up for home business, micro business, sole-traders, freelancers, self-employed and any one who is interested in small business news from India:

  • Despite slow down, SMEs set to increase headcount: Despite slow down in the economy, Indian small businesses is the third most optimistic in Asia after Bangladesh and Vietnam and 98 per cent SMEs expect to maintain their headcount or increase their staffing level, according to the semi-annual HSBC Asia-Pacific Small Business Confidence Monitor.
  • Govt, CII to bring out yellow page on NRI businessmen: The yellow page, which will reach out to about five million Indians living outside country, will feature Indian businesses willing for tie-ups and NRI entrepreneurs as well. To be made available in print and through an Internet edition, the yellow pages can also be obtained from Indian High Commissions and missions abroad.
  • WinWeb Celebrates 15 Years Helping Small Business & Home Business: WinWeb was founded 15 years ago in 1994, with the vision that the Internet and the World-Wide-Web (WWW) would transform the way micro businesses will be started and run.
  • SIDBI floats asset reconstruction company for MSMEs: The Small Industries Development Bank of India (SIDBI), has floated the country’s first asset reconstruction company focussing on non-performing assets of micro, small and medium enterprises, christened India SME Asset Reconstruction Company (ISA RC). Sidbi, along with Life Insurance Company and a few leading public sector banks and state-level institutions, has floated this company, a press release issued here on Monday said.
  • Dena Bank to restructure SME loans: PANCHKULA: Dena Bank has decided to restructure the loans given to SMEs, which will involve deferring the instalment payment period and providing more liquidity, but the rejig would be done only on a case to case basis. “We will restructure the SME loan portfolio in the wake of problems being faced by some of the SME customers and exporters. The restructuring of loan will include allowing more time to them (SME) for payment of instalment of the credit facility,” said Mr D L Rawal, CMD., Dena Bank.

As always this list is not exhaustive, but I hope it will give you a little overview. — ST.

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