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Corporate Compliance Cleanup –
expect a few MSME casualties
Irrespective of one’s opinion on the economic reforms and their implementation over the past few years, there is little doubt that there has been a tumultuous change in the way companies and their auditors & CS’s perceive statutory compliance and reporting requirements these days. Especially true for Micro, Small & Medium Enterprises (MSME) that have hitherto treated compliance and reporting as something only their CA’s / CS’s had to bother about or (regrettably) ‘fix’.
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Building your enterprise for scale – First Principles:
Enterprises / Entrepreneurs that seek to break the shackles of mediocrity need to keep in mind a few basic ‘First Principles.’ Violation of these will impede growth as much as competition, competence or capital.
Scale or growth is used here in the context of entrepreneurs who aspire to compete against the big boys of their industry or at least substantially move up the pecking order. This would normally infer an external equity infusion to be adequately capitalized for growth. Therefore, a specific revenue or enterprise value is no benchmark as these would vary from industry to industry.
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