'Ease access to capital for Covid-hit businesses'

Union Budget 2021 | Facilitate easy access to capital for Covid-hit businesses, says Bhaskar Majumdar of Unicorn India Ventures

Small businesses don't have resources to meet the tedious compliance requirements like GST, he writes

 Representative image. Credit: iStock Photo

By Mr Bhaskar Majumdar

Since offline businesses are hit badly and every business owner is planning to go online, we expect the policies that make it easy for businesses to go online. This is also true for families who have to respond to education for children online.

Small businesses don't have resources to meet the tedious compliance requirements like GST. The government should ease rules and also offer support/exemptions to small and medium businesses from certain mandatory compliances. What a listed entity with armies of staff can do, a startup can’t be expected to do the same.

Overall the budget needs to facilitate easy access to capital to businesses that are reeling from the after-effects of Covid. Apart from this, there should be some relief for businesses that have suffered significant losses during the lockdown and thereafter.

(The author is the Managing Partner of Unicorn India Ventures)