Hemanth Kumar R

The medium-term is the period of time which lasts a few months or years beyond the present time, in contrast with the short term or the long term. Medium Term finance are sources of finance available for the mid-term of between 3 to 5 years typically used to finance an expansion of a business or to purchase large fixed assets. Companies use several types of financing options in the course of their business operations. Medium term financing may be used for special projects or business expansions that will result in new production facilities.

A Certificate of Origin may be requested by your customer, from any country in the world, to establish the origin of goods being imported. Customs Authorities may require this information so that duty payable can be determined and, in some cases, establish whether the goods may be legally imported at all. The origin is not the country from which the goods are shipped, but the country where the goods were made. Failure to have a correctly completed and certified Certificate of Origin can result in goods being held up by Customs authorities, and can delay payment for your shipment if you are supplying under a Letter of Credit. To be valid a Certificate of Origin must be certified by a Chamber of Commerce which is authorised to certify these documents. According to the International Chambers of Commerce (ICC), around 15 million Certificates of Origin are certified by Chambers globally each year. In most cases, for goods shipped from the EU, the EC Certificate of Origin is used and must be produced using the approved pre-printed stationery. The data must be typed or printed onto the pre-printed stationery as it is no longer allowable for these documents to be handwritten. There is a correct way of completing certain information to comply with regulations, and if this is incorrect your document will be rejected by the certifying Chamber. In the UK British Chambers of Commerce train all Issuing Body Chambers of Commerce in the correct procedures for certifying Certificates of Origin, which ensures that the quality and validity of these documents can be maintained at a very high standard.

Businesses require financing in order to operate. The source of this finance can be either internal or external and furthermore it can further subdivided into long or short term. Long terms sources are those that provide finance for more than a year while short term provide for less than a year; Internal sources of finance come from within the business and "do not require the agreement of anyone beyond directors and managers of the business." (LOE 2010:317). The long term sources of internal finance include retained profits while short term sources include selling of inventories, extending period of credit from suppliers and stricter credit control over funds owed by credit customers (LOE 2010). Sources of finance are considered short term because they can easily be reversed in the short run. External sources of finance on the other hand "require(s) the compliance of potential shareholders" (LOE 2010:317) and in this case the company owes "outside" institutions or individuals (Brindley 2008). According to LOE (2010), long term sources of external sources of finance include ordinary shares, preference shares, long term loans, finance leases, hire purchase agreements etc. While short term sources of external finance include bank overdrafts, debt factoring and invoice discounting.

How small scale industries contribute to the socio-economic development of India? Identify the values reflected by small scale industries in India.

Small scale industries in India enjoy a distinct position in view of their contribution to the socio-economic development of the country. The following points highlight their contribution: Small industries in India account for 95 percent of the industrial units in the country. They contribute almost 40 per cent of the gross industrial value added and 45 per cent of the total exports from India. Small industries are the second largest employers of human resources, after agriculture. They generate more number of employment opportunities per unit of capital invested compared to large industries. Small industries in our country supply an enormous variety of products which include mass consumption goods, ready-made garments, hosiery goods, stationery items, soaps and detergents, domestic utensils, etc. The contribution of small industries to the balanced regional development of our country is noteworthy. Small industries which produce simple products using simple technologies and depend on locally available resources, both material and labour, can be set up anywhere in the country. Since they can be widely spread without any locational constraints, the benefits of industrialisation cem be reaped by every region. Thus, they contribute significantly to the balanced development of the country. Small industries provide so many opportunities for entrepreneurship. Small industries also enjoy the advantage of low cost of production. Locally available resources are less expensive. Establishment and running costs of small industries are on the lower side because of low overhead expenses. In fact, the low cost of production which small industries enjoy is their competitive strength.