Monica Malik Instagram – Many small businesses often encounter a common yet formidable challenge – delayed payments from customers. It’s a frustrating reality that can leave even the most resilient entrepreneurs feeling helpless and disheartened. But fear not, for there’s a game-changing solution that can transform your business landscape – MSME registration!
According to Section 16 of the MSMED Act, failing to make timely payments to suppliers can lead to significant consequences. Buyers who miss payments are liable to pay compound interest at three times the Reserve Bank’s bank rate.
Section 15 of the MSMED Act ensures timely payments with a maximum 45-day window for invoice settlement, promoting smoother transactions between suppliers and buyers.
#msme #msmes #business #education #money #savemoney #earnmoney #enterpreneur #businessowner #growth #finance #financialfreedom #financialliteracy #reelsindia #explorepage | Posted on 25/Jul/2023 18:14:30
