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My friend Sarthak, marked since childhood for his intelligence and talent, went to the US to do his Masters in Economics. He came back with an additional diploma in Pastry and Baking Arts, from a renowned institute in Pennsylvania. I was surprised at this offbeat turn of events, but glad to see that he seemed to be truly happy, like someone who had found his niche. But then he then dropped the ‘E’ bomb at home, i.e., he wanted to become an entrepreneur and start his own line of confectionaries. His entire family, in its last three generations, had done nothing but jobs at government organizations and MNCs. His mother said, she couldn’t bear to tell prospective brides’ families, that her son sold cakes. His father said, he wouldn’t invest or loan a penny to support such a wasteful idea and soon, Sarthak was employed in a research analyst ‘job’ in Delhi.
If this can happen in an upper middle class, educated family in a metro city, one can well imagine the plight of the millions of dreaming aspirants in small towns and villages. People who want to start businesses of their own, but have such limited means and information. And yet, small and medium businesses form the backbone of Indian economy. It doles out 45% of our industrial output, employing 42 million people and generating one million jobs annually.
The year 2015 has seen a significant initiative on the government’s part, to boost the small and medium industries. One such step was the inception of MUDRA (Micro Units Development and Refinance Agency) Bank. Launched on 8th April, 2015, it serves small businesses that don’t fall under the lending eligibility of regular banks. The bank caters to small businesses under three categories:
Shishu – Loans till Rs. 50, 000/-
Kishore – Loans till Rs. 5, 00, 000/-, and
Tarun – Loans till Rs. 10, 00, 000/-.
This was shortly followed by the Skill India campaign on 16th July, that started Pradhan Mantri Kaushal Vikas Yojana training across 1, 000 centers all over India. Presently it is catering to 50, 000 young people in 100 different jobs in 25 different sectors. This scheme will also boost the youth to learn various skills by giving them cash rewards on successful completion of the skill training programs. The scheme aims to educate 24 lakh youth who don’t have any formal training or certification. The ‘Recognition of Prior Learning’ (RPL) will assess and certify 10 lakh young people for the skill sets they already possess. And the Skill Loan scheme will give loans, ranging from as small as Rs. 5, 000 to Rs. 1, 50, 000 to 34 lakh young people, who want to attend skill development programs in the next five years.
The much talked about Make in India campaign, launched last year is also a measure taken to create more jobs and educating more people in different skills.
SMB Connect is India’s largest integrated solution platform which links small and medium sized enterprises and entrepreneurs across the nation. Our mission is to build supportive communities by using effective solutions to connect with customers, providing advisory solutions, leveraging training programs and sharing the experiences of other businesses, so that SMBs can overcome all odds and succeed. Because we believe, Small Can Be Big!
We work on three fundamental principles- Connect, Knowledge and Growth to empower SMEs and to act as catalyst in their development process.
Small and medium enterprises in India & Small business Services are in full swing. SMBConnect provides India’s largest integrated solution platform which links SME company, Business advisory services and entrepreneurs.
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