SME Entrepreneurship in India - Key Issues
Dear Friends:
Small, Micro and Mid Size Entrepreneurship in India is challenging and despite that we have so many entrepreneurs. So imagine where we could go, if we made life easy for our Entrepreneurs.
Lack of financing, bureaucracy, difficult taxation system, broken processes are just few of the issues. With this post, we request you to list issues that Entrepreneurs face in starting up and sustaining their business in India.
Once we understand the issues fully, we will follow our structured approach and review Root Causes and develop Solutions through separate posts.
I look forward to your participation!
Rajendra Pratap Gupta more
Small, Micro and Mid Size Entrepreneurship in India is challenging and despite that we have so many entrepreneurs. So imagine where we could go, if we made life easy for our Entrepreneurs.
Lack of financing, bureaucracy, difficult taxation system, broken processes are just few of the issues. With this post, we request you to list issues that Entrepreneurs face in starting up and sustaining their business in India.
Once we understand the issues fully, we will follow our structured approach and review Root Causes and develop Solutions through separate posts.
I look forward to your participation!
Rajendra Pratap Gupta more
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To make, new MSME policy successful I have few suggestions. The GREATEST INHIBITANT FOR THE GROWTH OF MICRO/SMALL SCALE IS INSPECTOR RAJ. TO GET RID of Inspector raj I have few suggestions: Suggestion 1: Micro/ Small scale industries (having capital investment in plant & Machinery up to 50 / 75 lacs) should be exempted from the PF and ESIC and FOR SOCIAL SECURITY CONTRIBUTION TOWARDS THEIR WORKERS THEY SHOULD BE ASKED TO DEPOSIT A FIXED AMOUNT TO GOVT (for example Rs. 15000/00 or Rs. 20000/00 per annum) and their workers should deposit their contribution directly to ESIC hospital to avail the ESIC benefit. ( This will reduce 2 inspectors at least and a lot of record keeping and better compliance by Micro / small industries). Suggestion 2: MSME falling in green category should be exempted from seeking NOC and Consent from pollution control board. Suggestion3: For power connection need for NOC from pollution control board should be removed. more
Feb 25
GOVT.should NOT LOWER the compulsory PF limit from 20 to 10 employ as proposed amendment in EPF & MO act by our govt as this will be a DEATH BLOW to MICRO / SMALL industries. more
Feb 25
ALL EXEMPTION THAT WERE AVAILABLE TO HILLY STATES , SHOULD BE APPLICABLE TO MSME AS WELL. IT SHOULD GET AGRICULTURE SECTOR LIKE FACILITIES. more
Jan 22
THERE SHOULD BE JUST ONE TURNOVER TAX ON MSME @ 5% ONLY . AND NO OTHER TAX AND FORMALITIES. more
Jan 22
Due to various formalities like ISO Certificate, Credit rating by Private agencies for loans , BIS and BEE certifications and Audits by various departments MSME is made to supply every information to them , this way the key secrets of MSME gets leaked , and there business gets exposed leading to failure of Business. So this process may be done away with. more
Jan 21
