GJM & Co.

Covid-19 –Relief measures for Indian MSME sector On May 12, 2020, PM Narendra Modi announced a ₹ 20-lakh Crores (about US$ 266 Billion) economic relief package called the Atmanirbhar Bharat Abhiyan . The relief package was unveiled in tranches over the next five days by the Finance Minister of India. The relief was aimed at focussing on Land, Labour, Liquidity and Law.   It addressed concerns for micro, small and medium enterprises (MSMEs), non-banking financial companies (NBFCs), middle class individuals, poor, and labourers including migrant workers.   Proclaimed the Atmanirbhar Bharat Abhiyan, the relief package is slated to attempt making India Self-reliant under this crisis or any other crisis that may emerge in the future.   In this article, we shall be focussing alone on the relief measures declared for MSMEs, Power Discoms, Employed Middle class as these are all inter related and overall impact the MSME sector which is India’s dominant job creator. Prop...

US Payroll Outsourcing – An Overview Introduction Even the most meticulous and experienced professionals in the United States find that payroll can be a headache. Slap on a stiff penalty for a tax filing omission, and now we're talking a full-blown financially-induced migraine! For many US businesses, payroll service providers offer an attractive and valuable alternative to in-house payroll processing . Chosen correctly, they provide a less expensive, simpler means of paying your employees, filing your taxes, payroll returns, and performing a host of other duties these payroll service providers can't wait to tell you about. However, choosing poorly is like starting a new job you weren't right for in the first place -- it's a hassle to leave, but if you stay, you'll be perpetually frustrated. Businesses at an early stage e.g. start-ups or small companies, often initially process payroll themselves for any number of the following reasons: - ...

Accounting – A Fulcrum to cope with COVID-19 The sudden spurt of the coronavirus worldwide is having an immense impact on the global economies and businesses in general.   This certainly will result into declining revenues for most businesses.   Hence, it’s crucial for entrepreneurs to react timely while there’s an opportunity to evade risks. Napoleon once quoted – “Every adversity, every failure, every heartache carries with it the seed of an equal or greater benefit.”   Apparently, there are revenue opportunities for certain existing or new goods and services in the COVID-19 age (e.g. sanitising  products or services).   While you may not be in a position to diversify your business instantly for obvious reasons, there is an opportunity to strengthen it from an operations perspective.   So while your business activity declines and you have more time on hand, one of the important operational aspects that you could fix is your back office acco...