Financial ExpressJan 13, 2022Piyush Goyal urges industry to ‘prepay’ MSMEs: What this means for the sector plagued with payment..Credit and Finance for MSMEs: Commerce Minister Piyush Goyal on Wednesday urged industry bodies and leaders in an online discussion to ‘prepay’ micro, small and medium enterprise (MSME) vendors or sellers who supply them with various goods and services.The statement assumed significance as getting payments or dues cleared on time is one of the perennial issues MSMEs face.In fact, receiving payments beyond 90 days or more from the date of invoice generation for a particular product or service sold to buyers has been the status quo even as the government has been requesting public sector units and private entities to pay their vendors on time.Hence, how feasible it would be for buyers to pay MSMEs before even buying from them?Read more at Financial Express
Credit and Finance for MSMEs: Commerce Minister Piyush Goyal on Wednesday urged industry bodies and leaders in an online discussion to ‘prepay’ micro, small and medium enterprise (MSME) vendors or sellers who supply them with various goods and services.The statement assumed significance as getting payments or dues cleared on time is one of the perennial issues MSMEs face.In fact, receiving payments beyond 90 days or more from the date of invoice generation for a particular product or service sold to buyers has been the status quo even as the government has been requesting public sector units and private entities to pay their vendors on time.Hence, how feasible it would be for buyers to pay MSMEs before even buying from them?Read more at Financial Express
