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Baqar Iftikhar

Baqar Iftikhar Naqvi  |112 Answers  |Ask -

Start-up Mentor - Answered on Feb 23, 2024

Baqar Iftikhar Naqvi is the founder and CEO of Upriver Ecommerce, an online sales accelerator firm and can guide entrepreneurs on how to make their firms grow.He holds a BTech in textile technology from the Central Textile Institute and has a master's degree in marketing and merchandising from the National Institute of Fashion Technology.He has 23 years of experience in the consumer products and retail industry.... more
Nagendra Question by Nagendra on Feb 23, 2024Hindi
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Career

What is the minimum capital for starting a business it could be any.

Ans: 0- Many million dollars. Please be more specific - what type of business, what scale etc.
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Harsh

Harsh Bharwani  |56 Answers  |Ask -

Entrepreneurship Expert - Answered on Jan 06, 2024

Asked by Anonymous - Oct 04, 2023Hindi
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Career
Hi, how do I start a business, for instance trading or an online business. Seriously thinking about it. How much capital is required for that? Thanks
Ans: If you want to start a business for instant income, whether it is trading or an online business, first of all you need more planning and consideration.

1. Identify Your Business Idea:

First of all, clearly define the product and service you want to provide and you can choose your product niche according to your interest, skill, and market demand.

2. Market Research:

Always do market research, that what is your target audience, what are the competitors of your chosen niche and what is the current industry trend according to your concepts? So that you can easily connect your unique selling proposition USPs.

3. Business Plan:

Please make your business strategy and plan clearly with your proper business concept or idea, target audience & market, marketing strategy,financial projections, and operational plan. For well-crafted execution for success.

4. Legal Structure:

By choosing the right legal structure for your successful startup. Such as LLC, corporation, or sole proprietorship. This will be impactful for your business taxes, liability, and other legal terms.

5. Register Your Business:

Firstly register your business name with government portals and take business running licenses or permits. Also, check the other local regulations and documentation.

6. Financial Planning:

Also estimate the cost of your business plan, ongoing expenses, and projected revenue. So that a budget and financial plan can be made easily. And there is no problem in doing factors like producing, marketing, and operating.

7. Funding:

Also, determine how you will be funded in your own business. This may include your personal savings, bank, and other loans, investors & sponsors, or crowdfunding. Because different business models have different capital requirements.

8. Online Presence (for Online Business):

You have to keep a lot of things in your mind to set up an online business, such as creating an attractive & professional website, setting up an e-commerce platform for selling, and making maximum use of social media platforms for marketing and promotions.

9. Supplier and Inventory (for Trading Business):

For starting a trading business, you have to establish relationships with vendors. And be sure to how you manage your business inventories.

10. Build a Network:

Need to build a strong network with your customers, consumers, mentors, and industry persons, and many more. Because networking is crucial for advice, support, and multiple business opportunities.

11. Marketing and Branding:

Before promoting make sure to develop a marketing strategy to better promotions. You can utilize the tools of digital marketing, and content creation to reach your target audience and customers.

12. Customer Service:

Always give priority to your customer, so that customer can become your satisfied customer and can come to you again and again and purchase your services.

13. Adapt and Evolve:

Always be flexible and ready to adapt. Also, keep an eye on current market trends and be prepared for essential changes in your business model based on customer feedback and reviews.

Capital Requirements:

The actual capital required varies widely depending on the nature and scale of your business. Online businesses often have minimal startup costs compared to other ventures. Trading businesses may require more capital for inventory, warehousing, and logistics.

It is essential to conduct a detailed financial analysis based on your business model. Remember, business success often involves a combination of planning, implementation, and continuous learning. Take a consultation with business advisors to get personalized guidance based on your business concepts, ideas, and it's goals.

..Read more

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Nitin

Nitin Narkhede  |11 Answers  |Ask -

MF, PF Guru - Answered on Sep 15, 2024

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Money
Dear Sir, i am an NRI, investing in mutual funds and stocks through NRO account for quite some time and i am planning to move to india approximately in another 2-3 years of time , given that NRO have high taxation, i just wanted to understand how to swiftly transfer mutual funds and taxes from nro account to indian resident account ? Appreciate if you could provide advice as well as SWP method ?
Ans: Dear Rudolf,
As an NRI planning to move back to India in 2-3 years, transitioning your investments from an NRO account to a resident account requires careful planning. First, once you become a resident, you need to convert your NRO account into a regular resident savings account. This involves contacting your bank, providing updated KYC details, and submitting proof of your new residency status in India. Additionally, you must inform mutual fund houses or registrars (like CAMS/Karvy) about your change in residential status by submitting a KYC modification form.
In terms of taxation, as an NRI, you are currently subject to higher taxes on your investments. Long-term capital gains (LTCG) on equity funds are taxed at 10%, while short-term capital gains (STCG) are taxed at 15%. For debt mutual funds, LTCG is taxed at 20% with indexation benefits, and STCG is taxed according to your income slab. Once you become a resident, the taxation on these investments will continue under resident tax laws, but any new gains after your status change will be taxed according to resident regulations.
To efficiently manage your investments, you can opt for a Systematic Withdrawal Plan (SWP). This allows you to withdraw a fixed amount from your mutual funds regularly while keeping the rest invested. SWP is tax-efficient, as you only pay capital gains tax on the withdrawn portion. After becoming a resident, you can easily set up SWPs to your regular savings account for steady income, while the rest of your investments continue to grow.
So to conclude, it is essential to update your bank and mutual fund KYC details when you return to India to ensure regulatory compliance and take advantage of resident tax laws. SWP can provide regular income while managing taxes efficiently. You need to contact a professional Advisor or CA for managing all your assets.
Best regards,
Nitin Narkhede
Founder & MD, Prosperity Lifestyle Hub https://Nitinnarkhede.com
Free Webinar https://bit.ly/PLH-Webinar

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Nitin

Nitin Narkhede  |11 Answers  |Ask -

MF, PF Guru - Answered on Sep 15, 2024

Asked by Anonymous - Sep 14, 2024Hindi
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Money
Hi Sir - I'm 35 years. Both myself and a better half are working with a monthly income of 3.65L together (2.8L mine + 85K wife's). We have a 5 year old male kid. We have a SBI max gain home loan account with a debt of 12.65L and a parked amount of 26.5L apart from the EMI paid so far from previous 5 years. No EMI on car purchased. EPF ~29L, PPF started for both of us an year back. Also started a monthly SIP of ~1.2-1.5L in MF from Jan'2024 with 8.5L balance so far and will continue the SIP in the below funds atleast for next 10 years. Not considering debt funds as I'm already having EPF and PPF components and will periodically review these funds. 1. Nifty next 50 Index, 2. Small Cap 250 Index, 3. Multi Cap, Active 4. Mid Cap, Active 5. Flexi Cap, Active Better half may quit her job by Mar'2025. We are looking to close home loan by March'2025 and stay EMI/debt free with a peace of mind. Is it a wise decision to close a home loan by this financial year and increase the monthly SIP to 2L from next financial year? Or) invest the home loan balance amount in real estate (preferably buying a land)? especially when the home loan interest of upto 3.5L are tax fee in the old tax regime. Thanks!
Ans: Dear Friend, Given your current financial standing, closing your home loan by March 2025 seems like a wise choice. You have Rs 26.5L parked in the SBI Max Gain account, which already reduces your interest liability. By clearing the remaining Rs 12.65L, you can become debt-free, providing peace of mind and freeing up your EMI payments for additional investments. While the home loan offers tax benefits under the old regime, the psychological comfort of being debt-free may outweigh the potential tax savings, especially since your financial portfolio is already strong.
Once the loan is closed, increasing your monthly SIPs to Rs 2L would be a smart move. Over the next 10 years, equity mutual funds, which historically offer returns of 10-12% annually, can significantly grow your wealth. Since you are already investing in a diversified portfolio of index, small-cap, mid-cap, and flexi-cap funds, increasing these investments aligns well with your long-term goals.
Investing in real estate, particularly land, can provide diversification. However, real estate is typically less liquid and the returns can be location-dependent. If you're confident in the property’s growth potential, this can be a good long-term investment. However, your existing strategy of focusing on equity mutual funds will likely offer better returns and flexibility, given your 10-year investment horizon.
So closing your home loan by March 2025 and redirecting the freed-up funds into increased SIPs appears to be the best route. It balances peace of mind, tax efficiency, and long-term wealth creation, while real estate can be considered for diversification if you find a promising opportunity.
There are many real estate opportunities like REIT or Partial ownership in commercial properties which can also yield between 14 to 22% overall return with about 5 to 8% monthly return and 10 to 12% of Growth in the Asset Value at end of tenure.
Investment is commodities like gold and silver can also yield a return of 8 to 10% with reducing the risk in one sector.
Diversification is the mantra, do not depend on only one or two type of investment avenues. Explore other options as well.

Best regards,
Nitin Narkhede
Founder & MD, Prosperity Lifestyle Hub https://Nitinnarkhede.com
Free Webinar https://bit.ly/PLH-Webinar

...Read more

Dr Karthiyayini

Dr Karthiyayini Mahadevan  |1065 Answers  |Ask -

General Physician - Answered on Sep 14, 2024

Asked by Anonymous - Sep 13, 2024Hindi
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Health
I am 75 + ....Around two months back I was diagnosed as dengue positive with platelet count at 75,000. with proper medication, platelet counts were increased to 2,05,000 and fever was subsided.However swellings on both arms and legs persisted.. Off late on my both solders i am suffering severe pain and enable to make any movement, i feel like inner vain of my both hands are getting stretched/pulled (right from my solder to the finger tips and swelling on both hands and legs are still there. My doctor says that it may continue for another two three months and proscribed me only pain killer tablets.Doctor says that there is no specific medicine for Dengue. I got thorough blood and urine test along with other test like scanning, x-ray etc. All the test reports are normal except slightly blood sugar (PP) on higher side and enlargement of prostate gland (which is there since last 10 years and i am on regular medicine (silodosin 8-mg, one tab a day) Kindly advise me with your good suggestions that what could be the cause of this problem and which expert doctor I should consult since it is very difficult situation for carrying out my routine activities and also I can't sleep properly due to severe pain. Thank you
Ans: Post viral illness can trigger different chain of immune reactions
They are mostly self limiting if your lifestyle is well disciplined.
Here are the points towards a healthy lifestyle
1.Early dinner by 6 pm and avoid animal protein and fat at dinner meal
2.Sleeping time to be regulated. Fix a specific time around 9/9.30 pm and unwind from the world particularly off media from 7 pm
3.Regular brisk walking 30 mts a day five days a week
4.Balanaced nutrition and avoid highly refined carbohydrates

...Read more

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