What can be done to enable small businesses?
As many of you know, LocalCircles for many years has been taking the pulse of Startups and MSMEs to the Government. Below is the link to the survey for 2021. The key highlights and asks have been presented to the Finance Minister and her leadership late last month for their consideration and action.
If you have additional inputs, please share them as well! State of Startups and MSMEs in 2021
If you have any inputs on what can be done to reduce bottlenecks or enable small business in the country, via Budget 2021 or otherwise, do share your inputs! more
Msme should promote eligible micro industry not repeat licence raj crony capitalism promote those industry which has skill to make profits more
Every year you will hear about MSME and fund allocation. From top to bottom - everyone thinks - making loan available will make everything else easy. These are not planners of the country. Do you have any register of Small Business ? I doubt. We are so interested (in talking about) small business that - NONE of the business associations have special cell for small business. Do we have a register of family business in all villages and cities ? I doubt. There are mandatory internships of B.Com as well as MBA students every year - please utilize them to prepare these two registers and make survey from the horse's mouth. please do not make provision for Loans which might land somewhere else. Small business should be allowed to function from anywhere - even from residential area without commercial rent, electricity and commercial water charges and should be provided Marketing help - Not by money, by associating them with Marketing companies on Profit sharing basis. more
MSME is a pampered sector, but the entrepreneurs take advantage and usually divert the money for personal use, causing failure of the activities. more
It is observed that most of new unit fail to yield result and die within 5 yrs the reason common to all such projects are:- 1- Imbalance feasibility report. 2- Lack of skill in new enterpreneur. 3-Excessive expenditure after receieving financial assistance. 4-Excessive documentation etc. The solution are:- 1- Free consultancy by expert of field along with financial assistance for minimum 1 yrs or successful execution of Projects whichever is later. 2-At least three month training free of cost by expert . 3- Financial assistance stage wise mostly in advance for each stage . 4- Documentation online in simple format specially in local launguage. more
Solution 1 is enough if Expenditure Controlled. Bank Transactions is a must more
Ease of doing business and a single window process is a myth in India. A loan in 59 minutes!!!!!!!!!!!!!!!!!!!!! Forget about MSMEs; will small businesses get it? Only entrepreneurs know the problems. more