Hundreds of thousands of people start their own businesses every year, and untold more dream about the possibility of becoming their own bosses. While entrepreneurship has its many potential rewards, it also carries unique challenges. Starting a business involves planning, making key financial decisions and completing a series of legal activities. To run a successful business, you need to learn all about your existing and potential customers, your competitors and the economic conditions of your market place. The Government has announced series of steps to promote industrial development by way of rationalization of the policies to encourage the new entrepreneurs as well as existing units. In both developed and developing countries, the Government is turning to small and medium scale industries and entrepreneurs, as a means of economic development and a veritable means of solving problems. It is a seedbed of innovations, inventions and employment. You do not need to be a genius to run a successful small business, but you do need some help. And that is exactly what this book is, a guide into the stimulating world of small business ownership and management. Entrepreneurship helps in the development of nation. A successful entrepreneur not only creates employment for himself but for hundreds. Deciding on a right project can lead you to the road to success.
Startup India Stand up
A startup India hub will be created as a single point of contact for the entire startup ecosystem to enable knowledge exchange and access to funding. Startup India campaign is based on an action plan aimed at promoting bank financing for start-up ventures to boost entrepreneurship and encourage startups with jobs creation.
Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem for nurturing innovation and Startups in the country. This will drive sustainable economic growth and generate large scale employment opportunities. The Government, through this initiative aims to empower Startups to grow through innovation and design.
What is Startup India offering to the Entrepreneurs?
Stand up India backed up by Department of Financial Services (DFS) intents to bring up Women and SC/ST entrepreneurs. They have planned to support 2.5 lakh borrowers with Bank loans (with at least 2 borrowers in both the category per branch) which can be returned up to seven years.
PM announced that âThere will be no income tax on startupsâ profits for three yearsâ
PM plans to reduce the involvement of state government in the startups so that entrepreneurs can enjoy freedom.
No tax would be charged on any startup up to three years from the day of its establishment once it has been approved by Incubator.
The major contents of the book are electronic burglar alarm system for automobiles, chokes for sodium/mercury vapour lamps, heat treatment servicing unit, squashes and syrups, electronic, industrial timers, desk top publishing centre, castings for auto locks, ball pen ink, cashew nut shell liquid, automatic wheel alignment & wheel balancing workshop, neck ties, electric toaster, plaster of paris, transistor radio sets (am/fm), soya products, shuttle cocks for badminton, neon sign boards etc.
The industries covered in this book can be started with the investment of below ten lacs with the help of financial assistance provided by Banks, Financial Institutions, KVIC etc. This book will give you the better way to select an appropriate industry within your limit. The book covers project profiles of various industries, among which you can select one.
The book is a must read for any person who wants to make their life better by starting their own industry working for themselves.
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