At the outset, I would like to extend my heartfelt good wishes for the new year 2019. Every new year brings new hopes and aspirations, new targets and new challenges to foray into unexplored areas. I hope 2019 ushers in a new and rapid growth trajectory for SMEs bolstered by the rising culture of innovation and entrepreneurship in the country, support of Indian government and favourable global economic outlook.

Realising the untapped potential of MSME sector, which contributes a staggering 32% to the Indian GDP, Indian government has been launching a wide spectrum of new policies and programmes and taking a host of measures across the sectors to stimulate its growth. And yet, the roadblocks remain.

Finance, for long, has been the major stumbling block in the growth of small businesses and entrepreneurs. Banks and other institutional creditors are reluctant to lend to this sector owing to its incapability to repay loans and informal nature. NBFCs are becoming increasingly popular but the high interest rate charged by them remains an issue. Indian government needs to take immediate steps to solve the issue of credit to MSMEs.

As digitization becomes the rule rather than an exception, Indian MSMEs need increased

Read More..

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Vinod K Pandita
Strategic Leadership Coach| Management Consultant | Master Trainer | Motivational Speaker

Ever since the onset of the financial crisis, the global economy has been struggling to revive itself and achieve a healthy growth rate. The global growth rate for 2017-18 and 2018-19 are projected at 3.40% and 3.80%.

But compared to this, India’s GDP continues to grow at a fast pace, outstripping major world economies. According to IMF, India is projected to grow at 7.80% for this fiscal year.

Without any dispute, SMEs are one of the key drivers behind this growth story. This sector, comprising of manufacturing, infrastructure, service industry, food processing, packaging, chemicals, and IT, has emerged as the most vibrant and dynamic engine of growth of Indian economy over the past two decades.

Malliekkaa Chatterjjee

Owner – Taste Bazar

My journey of entrepreneurship started in 2011 when I quit my job and thought of doing something better with my life, first by helping myself in the field of business by providing jobs to others and then, by doing something more substantial.

I am running a software development company in the name of Good Cause Technologies in Kolkata for last 7 years, which is actually quite successful and ever growing and has now launched unique food start-up which is first of its kind in India.  7 years of entrepreneurship have been an extremely enriching journey where I have learned the skill of coping up with failures and then how to convert them into success. After a long struggle for 3 years I started creating grounds for myself. I have catered to small, medium, large and very large business sectors.

Some people always dream of starting something of their own and some get bitten by entrepreneurship bug while working for others. Here are top 5 reasons why people choose to become entrepreneurs!
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