BizBureau is a team of qualified and experienced professional joined hands for the upliftment and benefits of MSME sector in the country especially by assisting them in recovering their business payments overdues. The team consists of persons having more than decades of knowledge in financial risk management and payment recoveries.
Micro, Small and Medium Enterprises (MSME) embrace an immense contribution to the socio-economic development of the country. MSME is considered as a “Backbone of the Indian Economy”. As per an estimates, it contributes nearly 30-40% to GDP, 48% to total exports, generates employment in rural and urban areas, and supports large businesses being a supplier and vendor for them.
The Government of India introduces MSMEs through the “Micro, Small and Medium Enterprises Development Act, 2006.” The MSMEs are segregated as Micro, Small and Medium according to their investments and turnover. The definition of MSME was revised in the year 2020 by the cabinet to motivate the sector to inject more investment without losing the benefits of MSME.
MSMEs are of particular significance to the Indian economy. This labour-intensive sector helps to maintain the socio-economic equilibrium. Despite a significant contribution to nation-building, MSMEs are not getting the necessary support from government agencies and financial institutions. Overdue or delayed business payments, lack of knowledge and less awareness are the issues that majorly affect the performance and potential of small enterprises at different levels of their operations. The BizBureauis an effort to resolve certain problems MSMEs facing in Indiaspecially of overdue and delayed payments of their business dues. It is a step towards .improving the performance of MSMEs by assisting them recovering their overdues and reduce their payment cycles inter alia with other MSME problems.
We care and assist you in recovery of dues from private, public sector undertaking and government sector. BizBureau
India is one of the fastest growing economies in the world, aiming to hit the target of USD 5 trillion by the year 2024. Ever since the government announced its vision to achieve this target, economists and financial experts have been stressing the significance of strengthening the MSME sector. India’s vision of becoming a global economic power is undoubtedly possible only when the MSME sector can contribute further to the economy.
Besides contributing to economic growth, the MSME sector is considered as a catalyst for socio-economic transformation in India. It largely contributes to various national objectives like employment generation, poverty eradication, and resistance to rural-urban migration. To sum up, MSME plays a significant role in national development in multiple ways.
MSME sector has reported commendable growth since the last two decades. It is estimated that the number of MSMEs in India has increased by 207 percent between 2000-01 and 2009-10 with a CAGR of 21.52 percent. Are you planning to launch a business or already in business and need help in certification, legal advisery, we are here to assist you!
You can avail various MSME
- MSME Registration Certificate Assistance
- Start Up Certificate Assistance - ISO Certification Assistance
- Other Business Certification Assistance
- MSME Overdue Recovery Assistance
- MSME Legal Advisery (Basic Consultancy)
- MSME Legal Services through partnered Law Firms at discounted charges
Bureaubesides various MSME assistance scheme, also work similar to Credit Bureau model where we motivates the businesses to clear the outstanding dues of the MSMEs and contribute positively in the growth of the Nation. We inform the businesses that overdue payments may be seen in future at BizBureauScore by other MSMEs and banking institutions and could affect there future businesses and loans. We thus, suggest the businesses to clear the outstanding by e-arbitration or conciliation process for the benefits of all. We are going to provide a facility at our Website, where Members can check the outstanding reported against them and other businessesat BizBureau platform. Businesses can check default by putting their mobile number and OTP received to avail the service. One can raise dispute or can remove its name by making/settling the payments.
It is estimated that over 80% of businesses shutting down are due to non receipt or delayed receipt payment problems. In businesses, a leading reason for cash flow problem is unpaid dues or delayed dues. Late payment can thus not only hurt the growth of a business and in some cases, threaten its very existence.
Most small business owners want their customer payments should come on time. When their customers delay payments, business owners, in turn, delay payment of their suppliers. And this leads to a chain reaction, a vicious cycle, – a vicious cycle that chokes the growth engine. And fixing this vicious cycle needs to be a top priority. Delayed payments mean that MSMEs are usually struggling for liquidity, and this constrains their growth prospects. We decided to dig deeper into the real issues and come up with a solutions to delayed payments through BizBureau platform.
The growth and sustainability of MSME do contribute to the sustainable growth of the country; therefore, the Government of India tries to accelerate the growth of MSME by introducing various schemes for this sector. In spite of being an integral part of the sustainable development of the country, there exist enormous threats and challenges for the survival and growth of MSME. One of the biggest challenge is overdue payment related. MSMEs are not paid in time and they usually struggle for their dues. The current COVID-19 pandemic has hit the industry hard as lockdown leads to stoppage of operations resulting in stoppage of cash inflow to the firms. This has intensely impacted the availability of liquid funds to the business. Most MSMEs experience unavailability of timely capital and suffer from either shrinking of operations or liquefying the enterprise itself. BizBureau by its efforts helping various MSMEs to recover their business overdues fast and get rid of one of their major problems. Hundreds of MSMEs already recovered their past overdues and hundreds of others are under process.
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Almost, all the businesses has faced or still facing payments related issues, delayed payment and payment defaults. The health of any business depend on regular payment solutions and less payment and no payment can force it even to close its activities or work at lower pace. We elaborating few tools which can be helpful in recovering your past overdue fast like.
We have designed a Database of the Businesses by the Businesses for the Businesses, where they can not only check and share their own overduesunder oath but also our data aggregation engine help businesses in making informed decisions before offering loan, product or services to an entities.
Once, your Payment Debtors read the messages can go to our website and raise queries/objections on your demand or invoice.
We value and respect your time. We believe and encourage for amicable solutions of the payment issues through e-arbitration. This activity processing is free from our side to our registered Members.
We do provide advisery services to our registered Members that too free of cost. Once your payment problem still persists even after our notification package, we transfer the case under your consultation to our partnered Law Firms, who are specialised in this subject and provide services at possible discounted fees.
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