Running a business successfully in today’s times is like walking a tightrope, with the sky ready to fall on you at any moment. Moreover, if you are a startup or small, tiny, or medium-scale enterprise, there are adversities and adversaries all around, waiting to do you in at the most unexpected and unfortunate moment. It is today’s business market reality. The competition is cutthroat. The stakes are highest. The returns are the trickiest to get. After all, it’s the Darwinian theory of evolutionary ‘Survival of the fittest’ mechanism at work.
In other words, “Growing Competition has put extensive pressure on accelerating growth of businesses. Especially Small and Medium businesses, which suffer tremendously due to limited resources. In today’s times, it’s hard enough to keep the business in profitable condition, let alone keep track of day-to-day functions. That’s Why Us. We keep a 360-degree view of the business landscape for you so that your business can flourish.
Keeping the regional requirements in mind is extremely important for businesses. We must consider all the factors that will impact the enterprise’s profitability in the long run. This includes a detailed Study of Macro Economic Conditions and Micro Market Conditions around the business. That’s Why Us. We not only have experience in preparing Detailed Project Reports at any level of Business but also keep you abreast with the legal landscape, which at a later date can become a major headache for companies.
Prime Financial Management Services is your one-stop shop for all Business and Financial Requirements. We are currently based in two locations, Bhopal and Mumbai. Headquartered in Bhopal, we are a leading consulting firm in Madhya Pradesh Presently with an experience of 25+ years and clients ranging from NGOs to Large Manufacturing setups. With such vast knowledge and extensive experience, we bring you tailor-made solutions for our clients’ every problem,” says Surbhi Singh Gaharwar, Founder and Business Management Consultant.
Biz-Fin Advisors to All
Prime Financial & Management Services is an Advisory firm with expertise in Taxation, Project Financing, Business Management and other finance and legal matters. Surbhi adds that they deal with all sorts of matters, starting with the pre-startup stage, which involves preparing project reports, conducting a viability study, finding investors, preparing a business plan and improvement plan, handholding clients in starting their business, onboarding vendors/sellers/employees etc., to achieving profitability and further expansion of business they provide guidance at every step.
Prime Financial is a one-stop solution for all business needs. Surbhi informs that they have clients from every field, from startups to established corporations and from NGOs to investors.
Apart from Accounting and Taxation, Prime Financial & Management Services also provides services like Business Management Consulting, Project Consulting, Financial advisory, compliance and audit advisory, project viability studies, and related services.
According to Surbhi, they try to handhold their clients wherever required. Beginning from creating project reports to assisting in necessary registrations, arranging funds and investors, choosing the right talent by providing HR Consulting, ensuring all legal compliances, planning a marketing strategy, filing returns/challans and many more.
As for the impact on the accounting and consulting space, they create as many trained professionals as possible. “We believe everyone is in a learning stage in this industry and try to create as much a learning atmosphere as possible,” she says, adding that they provide training to students/graduates in the form of internships/courses, etc., around the year. As an emerging advisory firm, they ensure that their interns/students also get rightfully paid according to their skills and contribution to the firm. “As a business entity, we strongly believe in inclusive growth,” says Surbhi.
A Team of Experts
Accepting the current business reality, she reveals that Prime Financial is an emerging firm. So it is short-staffed almost all the time. However, as for the key persons running the firm- they have full-time, experienced consultants with them like Mr. D.K Singh, who has been in this industry for over two decades now.
“We have a few part-time and associate consultants also including CA, CS and lawyers with Pan India presence who help us on a ‘need to’ basis,” says Surbhi, who started her journey as a tax planner and then saw a market in this field as most people struggle to get their business running. Later, she established Prime Financial to accompany entrepreneurs on their journey. She states, “I started this firm while I was a student. Since then, we have been working in this field and gaining knowledge and experience in Taxation, Project Financing, compliance, audits and more.”
As an experienced leader, Surbhi shares her opinion on how adopting modern technologies such as AI, big data, and machine learning impacts the consultancy niche and what more could be expected. “To say the least, technology has helped us leaps and bounds when it comes to consulting and advisory services. At our firm, we use all kinds of software which can help us ease our work. Technologies like Excel and Power BI have made our lives easier and have created a consultancy niche because of thriving competition in the market.
However, at the end of the day, analysis of that data is in our hands. We as consultants and advisors are supposed to put our brain in the data simplified by these softwares.” Post this, mitigation and solution-finding takes learning, experience and effort.
Writing Off Challenges
Considering the current industry scenario, Surbhi says one of the major challenges that they have faced is the dearth of talent here. Bhopal is not known to be very business friendly as such. Starting up a firm here has been a challenge economically as well as in terms of experience.
People here do not want to invest in training, learning and quality. Which again is an issue. People must understand that these are investments and will have long-term gains at the end of the day. “Our aim is to show the clients and the people here that quality and hard work matters at the end of the day,” says Surbhi.
Learning from Failures
In her simplest advice to budding entrepreneurs who aspire to venture into the consultancy space, Surbhi says, ‘You can’t let your failures define you — you have to let them teach you.’
Future-Proofing the Business Success
On envisioning scaling Prime Financial Management Services’ operations and offerings in the future, Surbhi divulges that the first thing for any business to scale up is recurring clients. “Which we have already achieved quite a bit. Other than that, I look forward to adding a few experienced professionals to bring their valuable insight to the company. We are on the verge of expanding to Indore, Jabalpur, Ahmedabad and Mumbai,” she concludes.
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