Tag: funds

Bootstrapping Basics: How to Start Your Business with Minimal Funds

Starting your business with limited funds challenges you to use strategic foresight and resourcefulness, enabling the creation of a successful enterprise without significant financial input. This guide outlines key strategies that assist in launching your venture while safeguarding your financial reserves. By leveraging available resources intelligently, you set the stage for a prosperous business. Adopting these tactics ensures you can embark on your entrepreneurial path with confidence, despite financial constraints.
Leverage Free Marketing Channels
Harnessing the power of free publicity is a cornerstone for businesses operating on a shoestring budget. Social media platforms offer a vast arena to connect with potential customers without financial investment. Crafting engaging content that resonates with your audience can spark interest and build a community around your brand. Networking, both online and in person, opens doors to collaborations and partnerships, expanding your reach. By strategically utilizing these channels, you can establish a robust presence and drive attention to your venture without the need for substantial marketing funds.
Opt for a Limited Liability Structure
Forming your business as a limited liability company (LLC) ensures your personal assets are safeguarded against business liabilities. This structure grants you the flexibility to manage your business according to your preferences. You also benefit from tax advantages that can optimize your financial outcomes. Utilizing a formation service like ZenBusiness simplifies the process, making it accessible and straightforward.
Focus on High-Margin Offerings
Centering your business model around products or services with high profit margins can significantly enhance your revenue stream. Identifying a niche market or developing a unique value proposition can justify premium pricing, setting your venture apart from competitors. By concentrating on offerings that promise higher returns on investment, you can ensure a more sustainable business model that maximizes profitability with minimal upfront expenses.
Implement Innovative Pricing Strategies
Exploring various pricing strategies can unlock the potential for increased profitability and market appeal. Dynamic pricing allows for flexibility in response to market demand, while bundling products or services can enhance perceived value and encourage purchases. Tiered pricing models cater to different segments of your customer base, making your offerings accessible to a wider audience while maximizing revenue from those willing to pay more for premium options. This experimental approach to pricing can help you discover the most effective strategy for your business and customer base.
Drive Early Sales through Special Offers
Generating initial revenue through pre-sales or offering discounts to early adopters can provide crucial cash flow to support your business’s early stages. This strategy not only validates the demand for your product or service but also builds a loyal customer base eager to support your venture from the outset. Early financial support can alleviate some of the pressure on your startup budget, allowing you to focus on scaling your business and refining your offerings.
Optimize Your Inventory Management
Adopt a just-in-time inventory management approach to significantly reduce your inventory costs. By implementing dropshipping, you can eliminate the need for holding stock, thus lowering your overhead expenses. Consignment allows you to offer a wider range of products without the financial burden of purchasing inventory upfront. On-demand manufacturing enables you to produce goods only as they are ordered, minimizing the risk of excess inventory. These strategies together ensure you maintain optimal inventory levels, enhancing your business’s operational efficiency and cost-effectiveness.
Launching a business on a tight budget showcases your creativity, discipline, and strategic acumen. Embrace essential tactics like forming an LLC and leveraging free marketing channels to overcome financial obstacles, laying the groundwork for future growth and success. Patience and persistence become crucial as you maneuver through the initial phases of your venture. With careful planning and resourcefulness, your business is set to thrive, even without a large initial investment. This approach not only tests your entrepreneurial spirit but also paves the way for a sustainable business model.
Stay informed and ahead with The News Caravan—your destination for the most authentic and insightful news coverage.

March 11, 2024
Educational institutions won’t face dearth of funds: Punjab CM Bhagwant Mann

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Patiala: Punjab Chief Minister Bhagwant Mann on Saturday dubbed financial indebtedness of educational institutions as a social scourge, and said they will not face any dearth of funds so that no child of the state is deprived of the opportunity to get quality education.
Addressing a gathering on the 62nd foundation day of the Punjabi University here, Mann said it was the primary duty of the government to provide educational opportunities and it is a matter of great pride and satisfaction that his government was doing this work efficiently.
According to an official statement, Mann said his government was constantly striving to raise the standard of education by providing the maximum support to educational institutions.

“This university is the pride of Punjab and the Punjabi mother tongue. This premier education institute is also called the ‘heart of Malwa’. I had guaranteed to free this university from the debt burden to restore its pride and pristine glory,” he said.
Mann further said that in this year’s budget, the state government has earmarked a grant of Rs 30 crore to the university every month. “I sincerely hope that this university will achieve great success in the field of higher education after coming out of financial constraints,” he added.
The chief minister said the Punjabi University was playing a vanguard role for the youths of the state. “This university inspired me to follow new ways and new ideas in my life. My creativity had taken wings in this university and the stage of Sri Guru Teg Bahadur Hall realised my dreams,” he added.
Mann further said the state government was making great efforts for promotion and dissemination of the Punjabi language.

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#Educational #institutions #wont #face #dearth #funds #Punjab #Bhagwant #Mann
( With inputs from www.siasat.com )

April 29, 2023
Jal Shanti ministry asks Telangana to release funds for GRMB

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Hyderabad: Post the Centre’s proposal to wind up the Godavari River Management Board (GRMB) citing lack of funds, union Jal Shakti ministry secretary Pankaj Kumar on Friday wrote a letter to Telangana chief secretary Santhi Kumari, requesting that the required funds be released.\
Pankaj Kumar said that the GRMB had approved a budget of Rs 10 crore for the financial year 2022-23 and Rs 16 crore for the current financial year 2023-24.
On the other hand, the Godavari management board has reported that no fund has been released from the state governments with regard to the previous and as well as current financial year and the board is utilizing its reserve fund to meet all expenses required for the discharge of its functions.

“The reserve funds are almost exhausted by now,” Pankaj Kumar wrote in his letter.
He further mentioned Clause 1(m) of the Gazette Notification issued in July 2021 in his letter and recalled that Andhra Pradesh and Telangana are responsible for any unwanted consequences in projects as they are still delaying the release of funds.
Requesting that funds may be released to GRMB immediately by the state, Pankaj Kumar said that the functioning of the board is being affected adversely.
Additionally, the Krishna River Management Board (KRMB) also called out to the Centre on the state government’s delay in releasing funds.

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#Jal #Shanti #ministry #asks #Telangana #release #funds #GRMB
( With inputs from www.siasat.com )

April 29, 2023
AP: CID conducts searches at 7 branches of Margadarsi Chit Funds

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Andhra Pradesh: The Crime Investigation Department (CID) of Andhra Pradesh on Wednesday conducted search operations at seven branches of the Margadarsi Chit Funds Private Limited (MCFPL) across the State.
“These search operations were undertaken as part of an investigation into the cases registered by AP-CID against seven branches of MCFPL under sections 420, 409, 120(B), 477(A) read with 34 IPC and Sec 5 of APPDFE Act-1999 and Sec 76, 79 of Chit Funds Act 1982,” an official release stated.
During the searches, the book of accounts and documents including electronic documents pertaining to the case were scrutinized, the release stated.

Further investigation is underway, it stated.
Earlier on March 28, the Andhra Pradesh’s CID served notices to Cherukuri Ramoji Rao, the Chairman of Margadarsi Chit Fund Private Limited and his daughter-in-law and Managing Director Sailaja Cherukuri in connection with the Chit fund scam.
As per the notice, the said persons have been asked to be present at their residence/office on March 29 or March 31 or April 3 or April 6 and cooperate with the investigation.
Last November, Andhra Pradesh’s Registration and Stamps Department said that there have been malpractices in the functioning of chit fund companies in the state and show cause notice would be issued to those who have violated the rules.
V Ramakrishna, Inspector General (Registration and Stamps Department) had said forensic auditing will be carried out in Margadarshi chit fund companies at a press conference.

The official had said that the Stamps and Registrations Regulatory Authority will be the nodal agency for chit-fund institutions and carry out regular inspections.
He had said the department conducted inspections at 12 chit fund companies on October 21, five organisations were inspected on October 31 and 18 units were inspected on November 15. He had said a total of 35 units have been inspected.
Ramakrishna had said that irregularities included using money borrowed through chit fund for “other purposes”
“Showcause notices will be issued to companies that have violated the rules, including the guidelines of the company. We will take further action after getting the reply to the show cause notices,” he had said.
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#CID #conducts #searches #branches #Margadarsi #Chit #Funds
( With inputs from www.siasat.com )

April 20, 2023
Would rather beg to common people than Centre for funds: Mamata

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Kolkata: West Bengal Chief Minister Mamata Banerjee on Thursday said that she would rather beg to the common people rather than to the Union government for funds to carry out development projects in the state.
“I heard that the Union government will not release any funds for the state till 2024. But I will not go begging in front of the Union government for funds. Rather, I would beg to the common people for the same. Our government has achieved as far as possible with limited financial strengths. I have an excellent administrative setup,” she said while addressing a gathering at the inauguration of an auditorium here.
Banerjee said that although recently the Union government has released some funds under different centrally-sponsored projects, the released funds are negligible compared to the requirement.

“We have been specially deprived of the Central funds for 100-day job scheme under Mahatma Gandhi National Rural Employment Guarantee Act. It is virtually impossible to carry out the work under this project against the backdrop of shortage of funds,” she said.
The Chief Minister also said that her administration is against taking away anybody’s job. Although she did not specify what she meant by the statement it was clear that her comments were pertaining to termination of services of a number of teaching and non- teaching staff in state- run schools in the state over charges of irregularities.
Banerjee also made subtle criticisms on the change of syllabus where chapters like entire Mughal period history were deleted from the history section. “We are against changing history which has its own sanctity. We will never try to erase the Taj Mahal or the Victoria Memorial,” she said.
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#beg #common #people #Centre #funds #Mamata
( With inputs from www.siasat.com )

April 13, 2023
JKCCC Demands High-Level Investigation Into Lapse Of Funds

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SRINAGAR: Jammu and Kashmir Contractors Coordination Committee Chairman Ghulam Jeelani Purza, on Monday said that the families of the contractors are on verge of starvation as the pending bills of the contractors have not been released since long.
Requesting LG led administration to conduct a high level inquiry into the frequent fund lapsing, Purza said that funds are being provided by the government on time, however, the same are held by departments for no reason and are provided to the DDOs in the last days of March resulting in fund lapse.
Purza said that this year also funds lapsed and the government officials were responsible for the same. Government should come to the rescue of the contractors and investigation at higher levels should be conducted.
JKCCC Chairman further said, “Government promised us that the money of all the contractors would be released, but the due money has not been released yet. Our money is stuck in R&B, PHE and other departments. For last three years, we have been running around government institutions. Our bills are pending from last many years, and should be settled immediately so that we will get some relief”.
He said that contractors are being harassed in the name of NOC and 345 contractors have been blacklisted. They are asked to bring verification from CID and NOC from police which ultimately makes their families suffer.
Government had made a policy for the rehabilitation of youth under various schemes and one such scheme was provision of contract cards to them. Some were hired as temporary employees and some were given loans. It was provided and invested in business so that the youth could earn their livelihood.
We hope our grievances are redressed at the earliest so that our families won’t have to suffer.

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#JKCCC #Demands #HighLevel #Investigation #Lapse #Funds
( With inputs from : kashmirlife.net )

April 4, 2023
Full bench of Kerala Lokayukta to look into case of CMDRF funds ‘misuse’ by CM

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Thiruvananthapuram: After facing flak on the decision by its two-member bench to refer the verdict in a case of alleged misuse of Chief Minister’s Distress Relief Fund (CMDRF) by Chief Minister Pinarayi Vijayan to a larger bench, there were indications on Monday that the full bench (three members) of the Kerala Lok Ayukta will start proceedings from April 12.
The Congress and the BJP on Friday questioned the credibility of the Kerala Lokayukta, which referred the case to a larger bench.
It was after an year that the two-member bench of the Lokayukta, that had completed all its hearings in the case, gave its verdict on last Friday and this long delay came under fire.

It was also noted that had the petitioner not approached the Kerala High Court seeking its intervention, maybe the verdict could have been even more delayed.
Now all eyes are on April 12 and according to sources in the know of things, the full bench is likely to hear the case from the start and will also look into the issue if the Lokayukta is competent enough to take up the case involving a decision of the state cabinet.
Leader of Opposition V.D. Satheesan has already pointed out that the decision to refer to the full bench is nothing but questioning the credibility of the Lokayukta institution as the Lokayukta in 2019 had made it clear that the petition is valid and now again it is going to be sent to a full bench. “It is strange,” he said.
Public activist R.S. Sasikumar had filed the case in 2018, alleging misuse of the funds in the CMDRF.
He had alleged that the money was given to those who were not eligible for the relief, including the family of a deceased CPI-M legislator, the family of a top leader from a Left ally who passed away, and also to a Kerala Police officer who died when his vehicle met with an accident while accompanying then top CPI-M leader Kodiyeri Balakrishnan.

The plea to the anti-corruption ombudsman was filed by Sasikumar in September 2018 and the hearing ended on March 18, 2022. Since then till last Friday, the verdict was kept pending.
All this comes at a time when Governor Arif Mohammed Khan continues to sit on the Bill that tweaked the powers of the Kerala Lokayukta.
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#Full #bench #Kerala #Lokayukta #case #CMDRF #funds #misuse
( With inputs from www.siasat.com )

April 3, 2023
Taraweeh Prayers to go live at Dargah Hazratbal. Special Baitul Maal Funds to be mobilised for the poor & destitute: Dr. Sy

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Srinagar, Mar, 22: Dr Syed Darakhshan Andrabi, Chairperson J&K Waqf Board, today chaired second round of meetings with Imams, Khateebs, & Waqf Administrators to give final touches to the Ramadhan preparations. Status of engaging Haafiz-e-Quran Imams, other Imams, & Special Khateebs for convenience of devotees was also reviewed. Status of Sanitation, Cleanliness, minor & major repair works at Shrines, Khanqahs, & Mosques was also reviewed.
In a significant development, & for the first time, Tarawee Prayers are being telecasted live through some Pvt News Channels & Official Facebook Page “J&K WAQF BOARD” from Aasari Shareef Hazratbal Srinagar. Also, directions were issued by the Chairperson J&K Waqf Board for mobilisation of donations during the holy month of Ramadhan specially for the destitutes & poor. A separate account shall be created for it, & funds shall be distributed immediately towards the close of the holy month. The beneficiaries shall be recommended by the Imams, Muallims & the local respectable people among the general public.
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#Taraweeh #Prayers #live #Dargah #Hazratbal #Special #Baitul #Maal #Funds #mobilised #poor #destitute
( With inputs from : roshankashmir.net )

March 22, 2023
Nirav Modi claims he has no funds to pay UK court fines

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London: Nirav Modi, the fugitive diamond merchant wanted in India to stand trial on fraud and money laundering charges, has claimed that he has no funds and is resorting to borrowing money to pay the court-ordered legal costs amounting to more than 150,000 pounds.
The 52-year-old former billionaire last year lost his legal battle in the highest UK court against being extradited to India in the estimated USD 2 billion Punjab National Bank (PNB) loan scam case. But his case is now said to be “statute barred”, indicating further pending litigation.
Meanwhile, Nirav remains behind bars at Wandsworth Prison in south-west London, from where he appeared via videolink for a hearing at Barkingside Magistrates’ Court in east London on Thursday over unpaid legal costs, or fines, of 150,247 pounds ordered by the High Court in London, related to his extradition appeal proceedings.
According to officials, the magistrates at a procedural hearing for court fines granted his plea to be allowed to pay 10,000 pounds a month before a review hearing to take place in six months’ time.
On being asked how he intended to finance the monthly amount, Nirav told the court he had been borrowing money as he did not have sufficient funds because his assets had been frozen in India over the extradition proceedings.
In December last year, a two-judge bench in the Royal Courts of Justice in London refused Nirav Modi’s application for permission to appeal to the Supreme Court on suicide risk grounds and also refused his application to certify a point of law, which concluded his extradition appeal options in the UK courts.
This case may be subject to further litigation, UK Home Office sources have said, which is likely to indicate a parallel confidential political asylum appeals process.
In a final extradition appeal hearing in the case in the London High Court in November 2022, Justices Jeremy Stuart-Smith and Justice Robert Jay ruled that they were “far from satisfied that Mr Modi’s mental condition and the risk of suicide are such that it would be either unjust or oppressive to extradite him”.

Their verdict also accepted that the government of India will treat its assurances on Nirav’s medical care after being extradited and held at Barrack 12 of Arthur Road Jail in Mumbai with “appropriate seriousness”.
The dismissal of the appeal came three years after Nirav Modi was arrested in March 2019 on an extradition warrant based on Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) charges against the businessman.
There are three sets of criminal proceedings against the diamantaire in India the CBI case of fraud on the PNB which caused losses equivalent to over 700 million pounds, the ED case relating to the alleged laundering of the proceeds of that fraud and a third set of criminal proceedings involving alleged interference with evidence and witnesses in the CBI proceedings.
Then UK Home Secretary, Priti Patel, had ordered Nirav’s extradition based on Judge Sam Goozee’s Westminster Magistrates’ Court ruling in April 2021.
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#Nirav #Modi #claims #funds #pay #court #fines
( With inputs from www.siasat.com )

March 10, 2023
US federal agency funds methane capture project India

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Washington: A federal US agency has approved grant funding for a feasibility study to develop a coal mine methane (CMM) recovery facility in the Jharia coalfield in Jharkhand, said to be the first of its kind in India.
The US Trade and Development Agency (USTDA) said on Thursday that to support efforts by the Prabha Energy Private Limited (PEPL) to develop a coal mine methane (CMM) recovery facility in the Jharia coalfield, it approved grant funding for a feasibility study.
Virginia-based Advanced Resources International has been selected to carry out the study, a press release by the USTDA said.
“USTDA is pleased to collaborate with PEPL on this project, which presents a tremendous opportunity to strengthen India’s energy resilience and sustainability using innovative technology that US companies can readily provide,” USTDA Director, Enoh T. Ebong, said.
“This project will prevent the direct release of methane, a harmful greenhouse gas, into the atmosphere. This will have a positive climate impact on India and the world,” Ebong added.
According to the press release, the USTDA-funded feasibility study will develop recommendations on extracting, gathering, compressing, and processing CMM at the Jharia site while using innovative US technologies and solutions. By capturing the CMM, the project has the dual benefit of preventing methane emissions and providing local industries with a cleaner fuel alternative to coal.
“PEPL is pleased to partner with USTDA and ARI on the potential capture of methane gas from the Jharia coal mine in India,” CEO & Director of PEPL, Prem Sawhney, said.
“This project, which is the first of its kind in India, will increase India’s domestic gas resources while also creating avenues for US equipment and technology suppliers,” Sawhney added.

The study advances the goals of the federal agency’s Global Partnership for Climate-Smart Infrastructure to support the use of US technologies and services in overseas climate-smart infrastructure projects and that of the US-India Strategic Clean Energy Partnership’s Responsible Oil and Gas Pillar.
The project also supports the Biden Administration’s commitment to the Global Methane Pledge to reduce global methane emissions and limit global warming, the USTDA said.
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#federal #agency #funds #methane #capture #project #India
( With inputs from www.siasat.com )

March 10, 2023