The small scale sector is assuming greater importance every day. Hundreds of thousands of people start their own businesses at home every year, and untold more dream about the possibility of becoming their own bosses. Starting a business at home is the best when you do not have enough funds. While entrepreneurship has its many potential rewards, it also carries unique challenges. Making a choice of the right project is a difficult decision for an entrepreneur and is an imperative decision. In fact, before starting a business also one has to be thorough with the requirements of current line of industry. Above all taking advantage of various schemes provided by government and other financial institutions. For the reason that rest of the challenges for setting up, a business is based on the type of the product and fund to invest. 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. An entrepreneur requires a continuous flow of funds not only for setting up of his/ her business, but also for successful operation as well as regular up gradation/ modernization of the industrial unit. To meet this requirement, the Government (both at the Central and State level) has been undertaking several steps like setting up of banks and financial institutions; formulating various policies and schemes, etc. All such measures are specifically focused towards the promotion and development of small and medium enterprises. 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.
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.
Some of the major fundamentals of the book are steps in setting up an SSI, preparation of a project report, constitution of the firm, need for planning, registration/licences for SSI, resourcing, non financial, national level, state level, market survey, demand supply gap, major buying countries, plant economics, plastic granules from scraps/waste, process of manufacture to produce colourless transparent plastic granules from waste, P.V.C. hand gloves, plant & machinery suppliers, H.D.P.E. tarpaulins, fibre reinforced plastics, polyester resin, plastic cooler body, disposable plastic cups and glass etc., bleaching, dyeing & finishing of textiles, etc.
The book contains the aspects to plan any business strategy step by step. The book explains about business planning, effective marketing matters, facing the competition, resourcing, economics of plants and more aspects that will help start and maintain a new business. The identification of a suitable project within the investment limit of a new entrepreneur is very difficult. The present book strives to meet this specific entrepreneurial need. The book contains processes formulae, brief profiles of various projects which can be started in small investment without much technical knowledge at small place. This is very resourceful publication for new entrepreneurs, professionals, libraries etc.
B No. 106-E, Kamla Nagar, Near Spark Mall, Delhi, Delhi, 110007, India