Business

Jatin Rohatgi published in Business

These facts about AYUSH license were hidden for a long time, not anymore

AYUSH license is not an enigmatic license anymore. People know about it, talk about it, and during the present times, even want it. From Chyawanprakash to Patanjali kadha, it’s this permit given by the AYUSH ministry that’s the minds of most business owners. 

How can I start an Ayurvedic business?

Do I have spend a lot of money to start it?

Who can help me get the AYUSH certificate

Do I even need it?

These are the questions those looking for this AYUSH license are asking. What is AYUSH license? It’s a permit in India to manufacture and sell ayurvedic medicines. AYUSH ministry is responsible of how the license is issued to the manufacturer, and how the business is maintained by the manufacturer. 

However, because people weren’t seeking this license for so long, there are many misconceptions around it. Thus, what people knew about the license was mostly hidden from them. Not anymore. This blog is dedicated to unveiling the hidden facts about the AYUSH license that are not hidden anymore. 

AYUSH license is not for everyone

Let’s start this article by saying that not everyone who does business in ayurvedic medicines needs to obtain the AYUSH license. If you’re someone who merely retails in AYUSH products, you’re not required to obtain the license. There has been quite a bit of misinformation regarding this matter as many mistakenly (including us) have talked about a particular “AYUSH retail License”. However, that doesn’t exist. 

Simply put, you don’t need an AYUSH license unless you’re manufacturing and selling AYUSH medicines. 

AYUSH License can’t be sold from one person to another

You can’t just buy an AYUSH license. The applicant has to be issued an AYUSH license and under any circumstances, that license cannot be sold by that application to another person. In desperation of COVID 19, many have resorted to “selling” AYUSH certificates. These “certificates” are nothing more than pre-filled letterheads with fake authorizations. Using such a license is not only against the law, but it’s also harmful to your reputation as a business owner. 

Thus, if you see someone trying to sell you the license, look the other way. 

AYUSH certificate company doesn’t sell Ayurvedic medicine

AYUSH certificate company is a mispronunciation. It’s actually an AYUSH-certified company. An AYUSH certified company is a company that has been legitimized by the AYUSH ministry through the AYUSH certificate to sell AYUSH products. 

On the other hand, if you have to give meaning an AYUSH certificate company, think of them as business consultants. They are the consultants that help you obtain your AYUSH certificate by filing the application and doing the rest about your application on your best. 

You require a significant amount of capital to start an AYUSH business

If your goal is to start a manufacturing facility for ayurvedic medicine, be prepared to spend a lot of money. From the requirement of at least 1200 square feet area per medicine, you also need machinery and other important aspects that you need for your business to run. So yes, you need a significant amount of capital to run an AYURVEDIC medicine business. 

However, due to the government’s inclination to promote ayurvedic medicine, you can get funds from the government.

You cannot get an AYUSH license online 

 

How to get an AYUSH license? Not the online way. While we are living in a digital age, the AYUSH ministry hasn’t caught up to the online technology yet. For now, the process of obtaining the license is purely offline. You will have to download the application, fill it in using a pen and submit it at the AYUSH ministry branch of the region you want to set up your manufacturing facility in. 

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Salvador Kloss published in Business

Two Best Food Packaging Trends in 2021

The year 2020 has seen more deliveries than any other year, thanks to COVID-19. It forced everyone to stay locked inside their houses for months, and even after the ease of lockdown, many did not go out as a precautionary measure.  

The online and delivery businesses have seen a drastic and dramatic surge during this time. It has taught us about the unpredictability of life and shed light on untouched areas of business. Many retailers and businesspersons have seen that they have to woo their customers from a distance now, for which the packaging assisted them flawlessly.  

The food industry has never seen this amount of deliveries, so food chains must have packaging that keeps the food warm or cold, depending on its nature, and protect it from dirt and impacts for a wow factor.  

Your packaging should align with your café or restaurant’s values, creativeness and taste for an unforgettable experience. Embed in your mind that your first impression is your last one and takes your food chain to the seven skies.   

The top two food packaging this year are sustainable packaging and smart packaging. Let’s see why they both have come on top in 2020: 

Sustainable Packaging for Sustainable Business  

With the fast-paced revolutions occurring in this progressive world, climate change has been one of the most serious issues for the past few years, and it is still on many people’s radar in 2020. The brands have changed the manner of their packaging to support the green movement. They have reconsidered their packaging to control the carbon footprint.  

When inquiring about a packaging solution service, please keep in mind what material they are using and how it promises sustainability.  

The number of environment-conscious consumers is increasing day by day, and they do not mind paying extra if your eatery is supporting the green agenda. That is why many businesses are using plastic-free packaging that are biodegradable and recyclable to ensure they play their part in preserving nature.  

You can find multiple eco-friendly food packaging, namely Kraft boxes, customized cardboard gable boxes, cardboard tray sleeves and Kraft paper packaging, etc.  

It is the face of the future and it would be great if you start functioning this method for better customer engagement. Sustainable packaging is the way to sustain your business in the long run. 

Smart Packaging for Smart Working   

In the era where even your TVs are smart, how can your packaging lag? This connection between technology and packaging will make your restaurant smart and delicious. It makes the whole experience immersive rather than just tearing the box and throwing it away.   

For example, QR codes on the boxes have made life easier for both sellers and buyers. Similarly, digital interaction shows your customers that you are updated with the latest trends and find ways to make the customer experience affluent. You can use advanced tools to reach a wider audience. They can scan QR codes to access the product and its page directly.  

It also enables you to track metrics, like temperature, pH, resistance and weight, etc. It prepares you to maintain the quality and life of your brand. All these points are amassed together to show you that you have to be smart in order to make your restaurant smart. Smart is the new taste that everyone is craving for. 

Whether you are a vendor or a purchaser, make sure that you are using and availing the latest and right packaging, respectively. Use these two styles of packaging as they are here for the long run. Take the aforementioned trends into consideration to vocalize your brand’s success and vogue approaches. Serve your packaging like it’s hot! 

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Ankita Sharma published in Business

6 Ways To Apply For A Personal Loan For Self-Employed

A personal loan proves to be a great borrowing solution primarily because it does not come with any pre-condition on end-use. It allows individuals to utilize the fund to cover any financial shortcoming that may arise. For instance, self-employed individuals can avail the funds to mitigate their business-related expenditures with ease. 

Hence, a personal loan for self employed is one of the most accessible credit options that individuals have at their disposal. But, getting hands-on with this credit option may sometimes pose a challenge as borrowers need to fulfill certain lender-specific conditions to acquire it. 

Following are some of the ways that will help self-employed individuals raise funds for their business – 

1.       Meet the eligibility

The eligibility criteria of a personal loan for self-employed individuals vary with different lenders. Therefore, first, you need to know the lender-specific eligibility to avail assured funds. Following are some of the factors that you need to tick off – 

·         Age of the applicant must be from 25 years to 65 years. 

·         Credit score should be 750 and above. 

·         Must have a steady source of income 

Along with that, you may also need to fulfill business-specific criteria like a minimum of 3-year business vintage, etc. 

2.       Decide the loan quantum 

Opting for a personal loan for a company is a crucial financial decision that helps grow a business. Nonetheless, business owners need to have a clear idea of how much fund they actually require. It ensures that they are not over-borrowing or under-borrowing, resulting in easy repayment of the debt. 

3.       Check your repayment capacity  

To decide the exact loan amount, individuals first need to estimate their repayment capacity. In this regard, they have to consider all the current liabilities and annual turnover. To facilitate this calculation, self-employed individuals can use an EMI calculator to check monthly installments that go towards the principal and interest payment of a new business loan. 

4.       Submit all the documents 

Lenders approve a personal loan for the self-employed only after checking all the relevant documents. Hence, if business owners have to avail the funds they require, they need to keep the following documents ready –  

·         Trade license.

·         GST certificate. 

·         KYC of applicant.

·         Address proof of the office. 

·         ITR documents. 

·         Bank account details of the last 6 months.

Depending on the lender, they may also have to present additional documents required for a business loan to prove their eligibility. 

5.       Compare different lenders                                           

Almost all lenders offer personal loan for self-employed, and thus, choosing the right one can be challenging. To get the best interest rate and better terms of service, individuals need to compare different lenders. 

Top financial institutions like Bajaj Finserv extend a business loan up to Rs.45 lakh against a competitive interest rate. They also offer a Flexi loan facility that lowers the EMI burden substantially. 

This NBFC also provides pre-approved offers that simplify and expedite the loan application process. Besides business loans, such offers can be availed on personal loans, credit cards and others. All you have to do is share some basic credentials like name and mobile number to check your pre-approved offer instantly.

  1. Follow the application process 

Another best way to avail a loan for self-employed individuals is to understand the application process. Although it varies for different lenders, you should choose a lender that offers an online business loan. It will allow you to complete the loan application process from the comfort of your home.

Moreover, some lenders also have a dedicated app that you can use to keep a tab on your loan account. It ensures that you do not have to call your lender or visit the branch physically to resolve any query, thus saving time.

 

 

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