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Business After Lockdown tips by Business Coach Arvind Khinvesra

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Lockdown has been a great leveler. It has impacted businesses across the globe, industry, and scale of business. However, whether you stay affected or recover lost ground depends on What You Do Now.
There is not much one can do about the Covid 19 situation. However, there is a lot that can be done during this period that can impact what happens after this phase is over. In this article, I am sharing actions that an entrepreneur can take to ensure that once the business starts again, he is ready to get rolling. 
Let’s compare this situation with that of a car parked in your garage. One can’t drive it and go anywhere. And still, it has to be ensured that the car is started and moved around a bit every one or two days. If this part is ignored for a few days, the battery could get discharged and tires lose air pressure. It will need a lot of time to get these issues rectified before one can take the car out.
Businesses today are like the car in your garage. If no action is taken in this period, it will take a lot of effort and time to get back on track. This will result in a lot of precious time wasted to recoup later and get rolling.  Here are 6 things, for an entrepreneur to do during lockdown to ensure that the batteries and tyres of our business are ready to roll when we decide to start our journey again.
1) Get used to the change this phase could mean a complete paradigm change. Existing business models will tumble and new emerge. Accept the change and find out ways of operating in this new normal
2) NetworkIdentify partners in business. Customers, vendors, employees, banks, investors are some of the stakeholders who form a part of the business ecosystem. Utilize this time to reach out to each one. Build relationships. Right now, everyone has the time to spare and interact
Customers: Take feedback from customers. Know what are the things you are doing well and what you need to change. Talk to customers who have not done business with for some time and find out the reasons. Reach out to potential customers and understand their needs. Check if existing contracts have to be revised.
Vendors: Evaluate existing vendors, explore opportunities for better collaboration. Identify alternative vendors in case existing ones are unable to support in the new scenario. New regulations can impact sourcing.
Employees may be undergoing through a lot of mental stress and feeling insecure. Talk to employees, comfort them and ease their nerves. Do an analysis of the job roles and responsibilities of each. 
3) Plan your finances
Revisit next year goals. Instead of comparing with the past performance and worrying about reduced revenue, acknowledge the situation and revise to have realistic goals. Consider the required working capital, cash flows, break-even revenue and expenses and plan accordingly. 
4) marketing strategies to market your product may have to be changed. Find possibilities of going online (if feasible for your business). At the same time, businesses with a local presence can focus on building a personal relationship with customers
5) Get skilled learned new skills required for being effective. Identify the competencies to be developed for employees and get them trained. For ex. The sales team can work on improving their product knowledge.
6) Improve ProcessesReview business processes, identify inefficiencies, and re-engineer them. 
This is the time to introspect, reflect, review and redesign the way we do business.  All of this needs a change in the thinking process. What has worked so far may be redundant in the future. A business coach can help create new options and alternatives, identify areas of improvement and realign business objectives.
Focus on your systems rather than worrying about the end result. Do what needs to be done now and the results will follow. Make the best of available time and prime your engines to roar once you are back on the race-track.
What you do today, determines your future business!

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Business

Mutual Fund News: SBI Mutual Fund holds its No: 1 position

SBI Mutual Fund has retained its number one position with Asset Under Management (AUM) of Rs 5.11 lakh crore. It is the first mutual fund house in the country, with an Asset Under Management (AUM) of more than five lakh crore rupees.

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Mutual Fund News

SBI Mutual Fund has retained its number one position with Asset Under Management (AUM) of Rs 5.11 lakh crore. It is the first mutual fund house in the country, with an Asset Under Management (AUM) of more than five lakh crore rupees.

There is a big reshuffle in the mutual fund industry of the country. Based on Asset Under Management (AUM), ABI Mutual Fund retained its position at number one, the same HDFC Mutual Fund (HDFC Mutual Fund) has slipped from number two to number three. ICICI Prudential has climbed from the third position to the second position. This information is obtained from the portfolio disclosure on AMC’s website.

In April ’21 month, ABI Mutual Fund (SBI MF) retains its number one position with an AUM of Rs 5.11 lakh crore. Asset under management of HDFC mutual fund i.e. AUM is Rs 4.07 lakh crore, while ICICI Prudential Mutual Fund has AUM of Rs 4.12 lakh crore.

Mutual fund experts say that ICICI Prudential Mutual Fund has outperformed in schemes like equity, debt and hybrids for the past one year. Whatever decision it has taken in equity has been taken keeping in mind the value. This fund house has given better returns to investors in a year. If you talk about debt, then this debt has been able to give positive returns to investors. When it comes to hybrid funds, this fund house constantly focuses on asset allocation. Asset allocation gives investors the advantage that when the market is up, the investment in it decreases and when the market is down, the investment in it becomes more. This gives investors a better return.

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Trade between India and China increased, our country’s exports were fast

According to data released by the Ministry of Commerce and Industry, India imported $ 65.21 billion from China in 2020-21. Trade between India and China was $ 65.26 billion in the previous year.

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India China

Trade between India and China has increased between India and China in 2020-21. It is surprising that this has happened in a year when global trade has declined due to the lockdown in many countries to prevent the corona epidemic from spreading.
In the same year, there was tension between the two countries over the issue of border and a prohibitive atmosphere was created against China by taking Chinese app, mobile and investment in India.

According to data released by the Ministry of Commerce and Industry, India imported $ 65.21 billion from China in 2020-21. The figure was $ 65.26 billion in the previous year.

However, exports from India to China stood at $ 21.19 billion, a 27.5 percent increase over the previous year.
Imports of telecom devices declined to $ 6.48 billion due to the central government encouraging local manufacturing and assembly of mobile phone ports. It was $ 15.59 billion in the previous year.

Sugar chemicals continue to be a major source of ingredients for India, particularly for the pharmaceutical industry. Their demand has increased due to increasing demand for medicines. However, the import of automobile components from China has decreased. Iron ore, steel and organic chemicals were exported more from the country to China. Exports were higher due to increase in global prices of steel along with iron ore and this is one of the biggest reasons behind increasing exports from China to China.

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Post-budget views shared by Mr. Rishab Mehta

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“This year’s Union Budget was in the spirit of “do no harm” in terms of any adverse policies being implemented. Broadly, the various decisions laid out in this year’s budget are more “incremental” rather than “transformational” in nature. Accessibility and affordability of education across the weaker economic strata of society has been a perennial challenge in our country, especially this year with the disparity increasing manifold due to lack of online education infrastructure both at the school and student level. This year’s budget has indicated a good intention of progress in addressing this gap. The government’s decision to strengthen over 15,000 schools under NEP, set up 100 new Sainik Schools, raise the allocation for ‘Eklavya’ schools in hilly areas, etc. will provide a fillip to quality education. 

This budget has also laid down several measures that are further boosting the cause of both startups and especially fintech startups. Once again, we believe the steps taken relating to startups, although incremental in nature, point towards a long term policy goal of the government to significantly boost the sector via favorable policies, albeit with incremental steps taken every year instead of a big-bang transformational reform. The decision to extend capital gains tax exemption by another year is another step in that respect. Specific to fintech, the setting up a world-class Fintech hub at Gift city will add impetus and government recognition to the growing relevance of Fintech companies in India, which is essential considering that it is a regulated sector.”

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