AlappuzzhaBDS

Frequently Asked Questions

1. What is BDS ? Answer

2. Why are BDS providers required ? Answer

3. How will I benefit by BDS ? Answer

4. How much do BDS providers cost ? Answer

5. Where do I find out BDS providers ? Answer

6. How do I check the credibility of BDS providers ? Answer

Answers

1. What is BDS ?

Business Development Services (BDS) are services that improve the performance of the
enterprise, its access to markets, and its ability to compete in global market. Business Development Services include training, consultancy and advisory services, marketing assistance, information, financial services , technology development and transfer, and business linkage promotion.

A distinction is sometimes made between “operational” and “strategic” business services. Operational services are those needed for day-to-day operations, such as information and communications, management of accounts and tax records, and compliance with labor laws and other regulations. Strategic services, on the other hand, are used by the enterprise to address medium and long-term issues in order to improve the performance of the enterprise, its access to markets, and its ability to compete. For example, strategic services can help the enterprise to identify and service markets, design products, set up facilities, patents advisory and seek financing.

2. Why are BDS providers required ?

Looking at successful SMEs’ interviews allow the conclusion that many of them are users of business development services, using specialists for specific tasks within their firms, e.g. marketing, promotion, business planning, finance , technology etc.. Business development services cost money, but bring a lot of benefits. Its “value for money”.

3. How will I benefit by BDS ?

More accurate understanding of business needs
Higher quality of service by focusing on what you do best , your core competence
More effective and efficient production operations in your organization
Increased financial resources, especially through increased mission-related earned income
Better use of financial resources
More freedom and choices of resources to meet business needs
Improved coordination between board and staff
Better relationships with clients and other external stakeholders
Enhanced credibility with clients and investors
Continuous learning and improvement

4. How much do BDS providers cost ?

Cost of the BDS may very starting form Rs. 5,000 for a particular service depending upon the inputs provided by the BDS and the time being allotted for the intervention.

5. Where do I find out BDS providers ?

Many SMEs use friends/business associates/industry association for information on BDS providers. Other source to search BDS providers are Chambers of commerce, trade associations, export promotion councils, local business directories and online search websites. Soon you will get a BDS directory in this site.

6. How do I check the credibility of BDS providers ?

Credibility of the BDS provider can be checked through some of the reputed and recognized agencies like D&B Information Services India Pvt. Ltd. Best source of checking their credibility is to as them about their past clients & talk to them.