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In the world where big numbers rule, sometimes small businesses do not receive the heed they deserve. They are lost in the crowd and left alone to face myriads of challenges resulting in failures. But this catastrophe is not their loss alone but affects the country’s economy by and large. Small & medium enterprises are called the backbone of Indian economy and they are called so because of the significant contribution they make in the growth of the nation as whole. Let’s look at their major inputs which aptly illustrate why these businesses should be of national interest.
- Employment. Small Businesses use labor intensive techniques which in turn generates huge employment opportunities for many, 1.3 million every year to be precise. They also provide employment to large number of agriculturalist who remain unemployed for major part of the year. Empirical studies suggest that the employment generating capacity of small scale industries is about in times more than that of large scale industries. Thus, small businesses solve the most pressing problem of unemployment to a great extent.
- Catalyst to Large Industries.Small scale industries often are complimentary to the large businesses by providing the necessary inputs required in the running of their business. Therefore, such large businesses heavily rely on these small and medium businesses to be what they are.
- Egalitarian Society-Small businesses help in the equitable distribution of income and wealth which helps in creating a society based on quality. Moreover, they also are a hub for many women who find employment, thus earning their living & being independent which in turn help in building a gender equal society.
- Assembling Resources. Small scale industries helps in facilitating best utilization of local resources and family skills which might otherwise remain underutilized. The growth of small enterprises helps in tapping talent resources like entrepreneurial skills and small savings especially in rural areas. Furthermore, small businesses help in the retention of traditional and handicraft skills helping the small artisans who were dying a gradual death in the modern India.
- Other Social Benefits. By generating employment for many, small businesses help to raise per capita income and standard of living in the country. Through widely diffused ownership, they allow wider participation of people in the process of economic development. Therefore, small scale industries provide a base for self-governance and strengthens the essence of democracy in the society.
We at SMBConnect understand the vital role that small businesses play in the growth of the economy and we truly believe that the success of small businesses should be a matter of national interest. Therefore, we are dedicated to help these businesses succeed in the long run by creative an integrated platform specifically designed for knowledge sharing and business problem solving.
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.
Grow your small and micro enterprises & small business services in India with the help of business services and startup events. Learn to focus on creative small business ideas and Solution by analyzing roadmap of successful entrepreneurs in India and also enhance entrepreneurship development skills with large amount of educate small and medium enterprises & small business in india.
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