The recent announcement by the government to ban Rs 500 and Rs 1000 note came as a shock to many. From education sector to private institutions and public sector utilities, every domain is affected drastically. Every sector is bearing the brunt of demonetisation. Almost 70-80% of daily services are generally paid in cash, the situation has worsen the condition of a common man. Aesthetic centres and skin clinics are facing huge loss due to the current situation. Is demonetisation creating a slowdown in your business? It doesn’t have to. It’s been more than 40 days to the big day, we asked various entrepreneurs from different sectors to let us know, how demonetization is affecting Indian business.
A Solution of the Issue – Venus Concept
Venus Concept, a revolutionary leader in the field of medical aesthetics has introduced USA and North America’s most popular business model in India that offer benefits above and beyond a plain business opportunity, in fact with the recent currency ban, it is proving to be a boon to the Indian doctors in the time of demonetisation.
With financial depression and cash crunch on the rise, the Venus Loyalty Subscription Program is designed to not only kick-start your practice, but to also make it thrive with an array of dedicated service support. The unique business model features only an initial fee to be paid while subscribing to the device of your choice and the balance amount over a period of 36 months as a pre-fixed monthly instalment which can be customised to optimise the profits of your practice.
Along with these features, there is zero interest on the subscription amount, no lease or long term contracts and also, no credit checks or financial approval. Still want more? You also get a three years limited warranty, free software upgrade and an upgrade path to new technology.
Highlights of the Business Model
- Only initial fee to be paid while subscribing
- Balance amount can be paid within 36 months
- Zero interest on subscription amount
- No long term contracts
- No credit checks
- 3 years limited warranty
- Free software upgrade
Change is for good- iGenius Global Services
IT industry in India has its own huge share in the nation’s economy. When asked by the Founder and Director of iGenius Global Services, he seemed quite positive with the huge change in economic system, “Well demonetization has impacted our industry too, but in a positive way. Being in an IT industry our transactions and internal system were already completely cashless, so it has not impacted us in managing internal operations, though on personal term there has been some inconvenience, but it’s manageable”. According to him the major change that is beneficial for growth is the change in mindset of their clients who have now realized the importance of cashless and digital system. He adds, “Our clients are now discussing with us how to empower their ongoing processes and systems through online payment gateways, digital wallets and even mobile APP. We have been trying to penetrate into Tier 2 cities like Dehradun, Ludhiana, Pathankot even Tier 3 towns in Uttarakhand, Punjab, Haryana since few years. Earlier it was difficult to convince them for a paperless/cashless system, but now they are themselves showing interest to understand how it is going to help them in current scenario”. iGenius majorly caters to NBFCs (Non Banking Financial Services), Education, Public Services, etc. industries and majorly in Tier 2 & 3 cities/towns and the response for digital and cashless system has improved in these areas after demonetization.
However it is too early to ensure its success. Because the real test depends on what steps are taken after this. As an emerging economy, we look forward for progress of Indian market. The change will surely work wonders as it has opened gates to many new ideas.