{"id":4451,"date":"2023-12-28T12:08:48","date_gmt":"2023-12-28T12:08:48","guid":{"rendered":"https:\/\/enterprisehub.org.in\/?page_id=4451"},"modified":"2024-01-25T12:06:17","modified_gmt":"2024-01-25T12:06:17","slug":"growing-an-enterprise","status":"publish","type":"page","link":"https:\/\/enterprisehub.org.in\/index.php\/growing-an-enterprise\/","title":{"rendered":"Growing an Enterprise"},"content":{"rendered":"\t\t
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<\/div>\n\t\t\t\t\t\t
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Growing an Enterprise <\/h2><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Managing your finances<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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In order to grow an enterprise, a business is required to become more structured and professional in its approach. The enterprise is expected to follow higher standards of\u00a0 corporate governance and should have adequate internal policies in place for key functions such as finance, marketing, operations and human resources. The account statements should be audited regularly and related financial transactions should be done through proper banking channels in order to promote transparency and ensure accountability. In case of any borrowing done from banking channels, the company should ensure timely repayment of debt obligations so that credit score of both individual and enterprise is not affected.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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An illustrative financial guide with format for preparation of financial statements in accordance with Indian accounting standards can be viewed here<\/a>. A technical guide on Indian accounting standards, guidelines for preparation of financial statements for limited liability partnership firms and non-corporate entities can be viewed here<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Funding Alternatives for growth<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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In addition to the avenues for availing funds specified here<\/a>.<\/p>

A business can avail growth capital from below sources:<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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An enterprise can approach financial institutions like Banks and NBFCs seeking debt funds in the form of term loans and working capital to fuel its growth requirements. The funds availed from a bank are provided in exchange of collateral provided by an entrepreneur in the form of comforts like pledge of shares, corporate or personal guarantee and mortgage of current or non-current assets of the company including but not limited to inventory, receivables or plant and machinery.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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A firm can avail funding through Corporate Social Responsibility (CSR) channels if the activities undertaken by it classify under Schedule VII of the Companies Act 2013. As per the legal framework on CSR, a company has to spend, in every financial year, at least two per cent of the average net profits of the company made during the three immediately preceding financial years on CSR initiatives.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

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An enterprise can also grow inorganically by looking at opportunities for mergers and acquisitions in its area of business. The relevant opportunities can be looked at IIG portal.<\/a><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Export Registration Process<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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In order to grow its business, an enterprise can look at exports and needs to generate an import-export code. The import-export code is a registration code for the companies registered with the Indian customs department that are majorly in the import and export of commodities and products. The IE Code is issued in Meghalaya by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry under the Government of India.<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Growing an Enterprise Managing your finances In order to grow an enterprise, a business is required to become more structured and professional in its approach. The enterprise is expected to follow higher standards of\u00a0 corporate governance and should have adequate internal policies in place for key functions such as finance, marketing, operations and human resources. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"full-width-container","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-4451","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/enterprisehub.org.in\/index.php\/wp-json\/wp\/v2\/pages\/4451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterprisehub.org.in\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/enterprisehub.org.in\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/enterprisehub.org.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterprisehub.org.in\/index.php\/wp-json\/wp\/v2\/comments?post=4451"}],"version-history":[{"count":56,"href":"https:\/\/enterprisehub.org.in\/index.php\/wp-json\/wp\/v2\/pages\/4451\/revisions"}],"predecessor-version":[{"id":5090,"href":"https:\/\/enterprisehub.org.in\/index.php\/wp-json\/wp\/v2\/pages\/4451\/revisions\/5090"}],"wp:attachment":[{"href":"https:\/\/enterprisehub.org.in\/index.php\/wp-json\/wp\/v2\/media?parent=4451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}