Small Business Test - 27

Startup India is a flagship initiative of the Government of India, intended to catalyze startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India. Since the launch of the initiative on 16th January 2016, Startup India has rolled out several programs to support entrepreneurs, and transforming India into a country of job creators instead of job seekers.

Intrapreneurship is like acting as an entrepreneur within the organization. Intrapreneurship is a step towards entrepreneurship. It focuses on self motivation and resolving a specific issues which ultimately helps in achieving the major goals. It focuses on minor goals and hence helps to achieve the entrepreneurship goals in long run. It is a combination of entrepreneurship and management skills.

A small scale industry can enjoy status of export oriented business unit by exporting more than 50 percent of its production. 

Some characteristics that an entrepreneur needs to have are:-

1. Mental ability:- to have creative thinking and must be able to analyse situations and problems.

2. Business Secrecy:- he should protect his business secrets from his competitors.

3. Clear objectives:- must have a clear objectives of what to be pursued in the future.

4,. Communication ability:- should poses a good communication ability and skills.

5. Human Relation:- he must maintain good relation with suppliers, customers, employees etc.

Micro, Small and Medium Enterprises Act, 2005 defines the Micro, Small and Medium Enterprises on the basis of the investment in the fixed assets.

The village and small industries (VSI) sector consists broadly of (i) traditional industries (viz. handlooms, khadi and village industries, sericulture, handicrafts and coir) and (ii) modern small scale industries including 'tiny' units and power looms.

Village Industry has been defined as any industry located in a rural area which produces any goods, renders any service with or without the use of power and in which the fixed capital investment per head or artisan or worker does not exceed Rs. 50,000 or such other sum as may be specified by the central government, from time to time.

Small Scale Industries are labour intensive industries that provide employment opportunities to the people of rural areas. As the availability of capital is limited in the market, therefore with the establishment of small-scale industries this can be overcome. But the Opportunities in the small industries are rare because of limited resources and capital.

A social entrepreneur is a person who develops or establishes an enterprise with the aim of solving social problems. Social entrepreneurship is a revolution occurring around the world, where people from all walk of life are developing and implementing innovative, effective and sustainable solutions in response to social and environmental challenges.

Small scale service and business (Industry related) enterprises: A small scale service and business enterprise is one whose investment in fixed assets of plant and machinery excluding land and building does not exceed Rs. 10 lakhs.