Presentation on theme: "Entrepreneurship Development. An entrepreneur is a person who has possession of a new enterprise, venture or idea and assumes significant accountability."— Presentation transcript:
An entrepreneur is a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome.
The term is originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon.
Entrepreneur in English is a term applied to the type of personality who is willing to take upon himself a new venture or enterprise and accepts full responsibility for the outcome.
Jean-Baptiste Say, a French economist, is believed to have coined the word "entrepreneur" first in about 1800
Defn - social scientists at all levels An economist defines as one who brings resources, labour, material and other assets into combinations that make their value greater than before and one who introduces changes, innovations and a new order.
A Psychologist defines as a person who is typically driven by some forces which create a desire to obtain / attain something.
A sociologist defines it as a person whose actions would determine his social status and who contributes to the development of the society
A mgmt experts define entrepreneur as a person who has a vision and generates a action plan to achieve it.
Edward de bono have pointed out that the most important variable required for an entre. Is not innovation but value addition.
Any individual has 3 career options: 1) to work for someone else 2) to be self-employed in a profession 3) to be an entrepreneur
Out of the 3, entre. Has gained lot of popularity – the reasons are Numerous opp. For growth and self development Monetary rewards are greater Reward of one’s own leads to immense satisfaction
In countries like India, where educated unemployment in general has become a national problem. Entrepreneurship can be looked upon as a tool for income generation and employment. For this reason, Govt. of India is designing policies and procedures to promote entrepreneruship.
Characteristics of an entrepreneur Entrepreneurs have the potential to contribute much to society, researchers have tried to analyze their personalities,skills and attitudes as well as the conditions that foster their development.
The most important theory of entrepeneurship’s psychological roots was put forward in the early 1960’s by David McClelland
Characteristics of an entrepeneur Vision Knowledge Desire to succeed Independence Optimism Value Addition Leadership
Hardworking Desire to have control over their own fate Risk – taking ability
Vision : An entrepreneur has a dream and he visualises the ways and means to achieve that dream. Visualising market dd, socio-economic and the tech. environment and based on these dynamics, he visualises a future for his biz venture.
Eg: Without a vision of making a big mark on the mobile ind. Dhirubhai and now Anil ambani could not have made what Reliance Communication is today (ADAG)
Knowledge: An Entre. Should have sound conceptual knowledge about all technicalities of his biz-be it technological, operational, financial or market dynamics Eg: Without sound knowledge of computers Narayanamurthy could not have made Infosys what it is today.
Dec 06, 2010 3. Desire to Succeed: An entrepreneur has a strong desire to succeed in life. Their dreams are not just limited to achieving one single goal but they constantly work to achieve higher goals
Without a desire to succeed constantly, Mukesh ambani would not have planned to venture into retail, real estates, biotech, etc
Independence An entrepreneur needs independence in work and decision making. They don’t follow the rules of thumb but make their own rules and destiny
Without the desire for independence, sabeer bhatia would not have quite his job to start an enterprise on his own and created hotmail – the popular internet portal and Arzoo.com
Optimism Ent. Are highly optimistic about achieving their vision Eg: Without optimism narayanamurthy, (who took a loan from his wife as he did not have enough finances) would not have left a lucrative job and created Infosys.
Value Addition Entre. Have a constant desire to introduce something new to the existing business. They create, innovate or even add value to the existing products / services and therefore, stand out in the market
Without the value addition of introducing ‘lifetime free incoming call’ Tata indicom would not have been able to create a space in the mobile market in India
Leadership Entre. Are good planners, organisers, have good communication skills, emphathetic towards employees, good decision makers, Take initiatives to implement plans Highly Result oriented.
Hardworking At time they are called workaholics. They put continuous efforts to achieve success and know that there is no substitute for hard work
Desire to have control over their own fate Entre. Do not want to move in herds like sheep but want to pave their own paths. They do not believe in luck / destiny but create their own destiny. Sarath babu, IIM – A – he paved his own path by opening up a catering biz and he wants to contribute to the employment of the weaker section of the society.
Risk taking ability Calculated Risk Frank knight has identified risk taking ability as the most integral element in defining entrepreneurial characteristics.
By simple def. all active owner – managers are entrepreneurs. They can be classified into following categories
Classification on the basis of ‘ownership’ Founders/ pure entrepreneurs: They are the ones who conceptualize a business plan and then put in efforts to make the plan a success. For eg: Dhirubhai ambani of the reliance group.
Second generation operators of family owned biz. They are the individuals who have inherited the biz from their fathers and forefathers. Like mukesh and anil ambani
Franchises French word which means Free. Parent com. Licenses his trademarks and proven methods of doing biz to a frachises in exchange for a recurring payment. NIIT
Owner - Managers When a person buys a biz from the founder and then invests his time and resources it is called the owner – manager. Hotmail, Bill gates buyed it for $400 mn.
On basis of type of biz. Industrial entre.: he identifies the needs and wants of customers and accordingly manufactures products to satisfy the needs and wants. It include all entr. Essentially into manufacturing
Trading They involved in buying and selling of products / goods (Trading) See market potential, dd, customer expectations,etc
Corporate They create new things in the corporate where they employed
Agricultural They involve in developing new ideas / products that are related to agri inputs. For eg: Farm equipments, commodity breeds,
Innovative They create products with a new idea Involved highly in idea generation and execution For eg: Posting a message
Imitative They are risk – aversive and so they do not try out new ideas or products, but if a new idea is accepted in the market, they imitate the new idea and hence join in the competition.
Fabian These people do not involved in much more creative thoughts only when there is a change in the tech, market they come up with a new product / services They are very skeptical in approach
Women entre In 1988, women entre. Came into picture particularly in SSI/ Cottage industries It involves a single / group of women doing a business
Copreneurs When both husband and wife together start and run a biz venture they are called copreneurs. Emergence of copreneurs in the present times is a reflection of the fact that womens role in biz is increasing. Reena wal and Akshay Wal (Platinum member of Amway)
Entrepreneurial Culture & Process At its simplest what entre. Do can be viewed as a 6 stage procedure. They see opportunities where others don’t They have a vision, a clear understanding of the concept and of what theyre trying to do. They persuade others of their vision, they can communicate the concept effectively.
4, they gather resources to make their vision become a reality (money, people, things) 5, they organise these resources to create a new venture, product or market 6, they constantly change / adapt themselves according to the changing dd of the market
1. Identify an opp. According to timmons, entre is about sensing an opp where others see chaos, contradiction and confusion. It is the first step towards building and running successful biz enterprise. Identification of opp at the right time is of utmost importance as it gives first mover advantage
The First. Mover advant not only provides product identification and higher market credibility but also provides better profits and faster economies of scale.
2. Establish a vision Merely seeking opp is not enough. An entre. Further moves to establish a vision – a dream for future which can be achieved only if opp are tapped at the right time He has complete faith in his vision and it is quite clear to him ie he can visualise his own optimism
3. Persuade others An entre. Does not work alone, he understands that multiple skills are required to make biz successful. An entre. Prepares a biz plan to make the vision and means of achieving the vision clearer to the others who would join the team.
4. Gather resources Resources Financial Operating Human Information
Financial Personal saving Family and friends Comm. Partnership Banks VC Govt inst Floating public issues
Operating Tangible Machineries Raw material L & B Office equipments
Intangible Company image Transportation Management Operating procedures It determines the fate of the company
HR To employ permanent / temporary empl Amount and type of manpower System for training the empl Method of perfomance appraisal System of rewards Grievance procedure Healthy org. culture
Info resource MIS Timely info about customers, market, exter. Env and even their employees
Create new venture Once he arranged the resources, the next step is the creating / estblishment of new venture and running it successfully. Enthusiasm and persuasion Lot of perseverance and passion to belief in self.
Change / adept with time Keep the org upgraded and abreast of changing times This is not an easy task it not only involves avail of funds for introducing change but also the adaptability of hr towards the changed environment.
Scope of entrepreneurship in India In developing economies like india, the scope and need of entre. Are higher. The reasons are many, Unemployment, disguised employment Underemployment Poverty are growing in the developing nations and entre can be an answer to all of them
It not only provides employment and source of earning to the entre. But to all those who become associated with the biz enterprise. Moreover, the increase in the number of entre. Can reduce the monopoly of rich bizmen and lead to balanced regional development and growth of the entire economy.
Though favourable policies have been formulated, both financial and non-financial institutions do exist to assist entre. Entrepreneurship – training institutes have been established but when it comes to actual benefits to the entre, there are few.
Social entrepreneurship Social entrepreneurship is the work of a social entrepreneur. A social entrepreneur recognizes a social problem and uses entrepreneurial principles to organize, create and manage a venture to achieve social change (a social venture).
A business entrepreneur typically measures performance in profit and return, a social entrepreneur focuses on creating social capital.
Thus, the main aim of social entrepreneurship is to further social and environmental goals. Social entrepreneurship practiced with a world view or international context is called international social entrepreneurship Corporate Social Entrepreneurship.
The terms social entrepreneur and social entrepreneurship were used first in the literature on social change in the 1960 and 1970s. The terms came into widespread use in the 1980s and 1990s, promoted by Bill Drayton the founder of Ashoka: Innovators for the Public and others such as Charles Leadbeater
From the 1950s to the 1990s Michael Young was a leading promoter of social enterprise and in the 1980s was described by Professor Daniel Bell at Harvard as 'the world's most successful entrepreneur of social enterprises' because of his role in creating more than sixty new organizations worldwide, including a series of Schools for Social Entrepreneurs in the UK.
The National Center for Social Entrepreneurs was founded in 1985 by Judson Bemis and Robert M. Price, and Jerr Boschee served as its president and CEO from 1999 to till now.
Although the terms are relatively new, social entrepreneurs and social entrepreneurship can be found throughout history.
A list of a few historically noteworthy people whose work exemplifies classic "social entrepreneurship" might include, Florence Nightingale (founder of the first nursing school and developer of modern nursing practices)
Robert Owen (founder of the cooperative movement), Vinoba Bhave (founder of India's Land Gift Movement).
During the nineteenth and twentieth centuries some of the most successful social entrepreneurs successfully straddled the civic, governmental, and business worlds - promoting ideas that were taken up by mainstream public services in welfare, schools, and health care.
One well-known contemporary social entrepreneur is Muhammad Yunus, founder and manager of Grameen Bank and its growing family of social venture businesses, who was awarded a Nobel Peace Prize in 2006
In India, a social entrepreneur can be a person, who is the founder, co-founder or a chief functionary (may be president, secretary, treasurer, chief executive officer (CEO), or chairman) of a social enterprise, which primarily is a NGO, which raises funds through some services
Rippan Kapur of Child Rights and You and Jyotindra Nath of Youth United, are such examples of social entrepreneurs, who are the founders of the respective organizations
Jay Vikas Sutaria of Bhookh.com is a social entrepreneur who is leveraging the power of the Internet to fight hunger in India.
Another excellent example of a non-profit social enterprise in India is Rang De. Founded by Ramakrishna and Smita Ram in January 2008, Rang De is a peer-to-peer online platform that makes low-cost micro-credit accessible to both the rural and urban poor in India
Individuals get to directly invest in borrowers from across India, track their investments online and receive regular repayments, with a token 2% pa. ROI.
Today, nonprofits and non-governmental organizations, foundations, governments, and individuals also play the role to promote, fund, and advise social entrepreneurs around the planet.
A growing number of colleges and universities are establishing programs focused on educating and training social entrepreneurs.
The George Foundation's Women's Empowerment program empowers women by providing education, cooperative farming, vocational training, savings planning, and business development
In 2006 the cooperative farming program, Baldev Farms, was the second largest banana grower in South India with 250 acres (1.0 km 2 ) under cultivation. Profits from the farm are used for improving the economic status of the workers and for running the other charitable activities of the foundation.
Youth social entrepreneurship is an increasingly common approach to engaging youth voice in solving social problems. Youth organizations and programs promote these efforts through a variety of incentives to young people
The program, which is an initiative of The Foundation for Young Australians, strengthens, supports and celebrates the role of young people in creating positive change in their communities.
About Face International has a program that promotes youth social entrepreneurship amongst middle school, high school, and college students by providing interest-free loans, grants, and mentorship
Fast Company Magazine annually publishes a list of the twenty-five best social entrepreneurs.
The internet and social networking websites have been pivotal resources for the success and collaboration of many Social Entrepreneurs, allowing ideas to be heard by broader audiences, allowing networks and investors to develop globally and all achievable with little or no start up capital.
For example, starting with no capital and just an interesting idea, three Australian students (1egg1world) are in the process of raising AUS$1million for Charity starting out with just one egg, an excellent example of the growing opportunities brought by the internet to people with good ideas
Further Readings… David Bornstein, How to Change the World: Social Entrepreneurs and the Power of New Ideas, Oxford University Press (and others) ISBN 0-19-513805-8 Charles Leadbeater, The Rise of the Social Entrepreneur, Demos, 1996 Munoz, J.M.2010.International Social Entrepreneurship : Pathways to Personal and Corporate Impact. New York: Business Expert Press. http://www.businessexpertpress.com/books/internati onal-social-entrepreneurship.
Outline Critical Stages of Entrepreneurship Major Activities along the stages
Basics: Five Best Ways to Get Rich Inheritance Marry rich Win a state lottery Be a show-biz celebrity Start a company From Stolze, Start up
Major Stages of Entrepreneurship Converging on the idea Business Plan Business Formation Growth/ exit Going public
A Framework to Think About Ideas for Entrepreneurship Existing Products Modified Products New Products Existing Markets Identifiable Markets New Markets
Women’s Shampoo Alternative Greeting Cards Solid state still camera Clothes for professional women Overnight package delivery Specialty sports car Mobile pet grooming device Personal Computers Laser discs Existing ProductsModified Products New Products Existing Markets Identifiable Markets New Markets
1. Converging on the idea In many cases, the decision start a business precedes the idea Many ideas fall by the way side, since they are either technically not feasible or financially not viable or both So you need to do enough ‘research’ to converge on the idea Documentary Experience
Ideas: Intellectual Property The meaning of the term Four forms of legal defense Patent Trademark Trade Secret In many cases, you will need legal help!
2.Business Plan Development Four major elements: New product/ service development Business Model Financial Model Operating plan
3.Business Formation Type of company: legal form, registration Financing new product development: Family and friends grants
4.Growth/exit Difference between life style and growth companies Growth will require infusion of capital through internally generated funds Sometimes employment of venture capitalists Passive investors
Exit Various reasons Poor market research, Product grounds Technological obsolescence and so on …
NEN…. The nonprofit National Entrepreneurship Network was established in 2003 with a mission to create and support high-growth entrepreneurs, driving job-creation and economic growth in India.
NEN represents India’s largest and most dynamic community of new and future high-growth entrepreneurs, with over 70,000 members in 30 cities
It provides critical support to start-ups and early-stage entrepreneurs through high-impact entrepreneurship education; access to mentors and experts; fast-track access to incubation and funding; and learning tools and materials.
It partners with over 470 top-tier academic institutes in India to help them develop vibrant entrepreneurship ecosystems on campus, which develop and support new and future entrepreneurs.
In addition, it runs Entrepreneurship Week India, the country’s largest entrepreneurship-awareness campaign.
NEN was co-founded by IIT B; IIM A; BITS, SP Jain Institute of Management & Research, Institute of Bioinformatics and Applied Biotechnology
It is primarily supported by the Wadhwani Foundation, a philanthropic initiative of Dr. Romesh Wadhwani, Chairman of the Symphony Technology Group, and has offices in Bangalore and Mumbai.
Approach NEN’s model for advancing entrepreneurship rests firmly on its partnership approach, making it both scalable and effective.
In addition, NEN uses a group-purchasing model to aggregate support for institutes, members and entrepreneurs
Support includes a bank of volunteers for speaking and mentoring opportunities; corporations eager to support innovation
NEN Consulting NEN Consultants, based in the field, provide NEN member institutes with expert help and advice on building entrepreneurship programmes.
This is a critical resource for institutes wishing to ramp up existing programmes rapidly, or for those just launching their entrepreneurship programmes.
NEN Resource Bureau The NEN Resource Bureau comprises a pool of over 1000 entrepreneurs, investors, and other professionals, recruited by NEN, who have volunteered to participate in NEN member institute programmes.
NEN Online NEN Online empowers the NEN community, placing in members’ hands the tools to build networks; organize and market activities; access materials, programmes and events.
NEN 360 – NEN’s Monthly Community Newsletter NEN 360 brings together an exciting mix of news and stories from around the community.
The newsletter recognizes accomplishments of student leaders and members; showcases useful events, competitions, and resources; features expert guidance and interviews with industry leaders and achievers
It is shipped to member institutes free of cost and is also available online for free download.
NEN E Leader Programmes and E Cell Workshops NEN E Leader programme offers leadership workshops, programmes, events and recognition to students heading campus-based entrepreneurship cells.
NEN E Cell Workshops, held regularly for new batches of e-cell coordinators and their Faculty Advisors, help connect students from different institutes;
NEN E Week India Through a range of activities and programmes, NEN E Week connects lakhs of young students across the country to take part in a week-long campaign to focus public attention on opportunities in today’s India.
Experts, industry captains, non-profits leaders and faculty members come together to encourage, guide and inspire students to take action. In 2009, NEN E Week engaged over 3,50,000 students in over 2500 events across 30 cities.
Impact Since NEN started in 2003, it has accomplished the following: 326 entrepreneurs launched and supported 3000 future entrepreneurs created
2,50,000 registered members on www.nenonline.org, forming India’s largest and most vibrant entrepreneurial community online
Dec, 2010 - Institutions That support Entre. TIIC - A Financial Institution for the Development of Industries TIIC is a Premier Financial Institution incorporated in 1949 as a Company under the Companies Act, to foster Industrial Development of Tamil Nadu.
It provides Financial Assistance to Small Scale and Medium Scale Industrial units. TIIC also provides Financial Assistance to Professionals and Transport Vehicle Operators.
Types of Financial Assistance TIIC offers long and medium term financial assistance in the following forms: Term Loan. Term Loan and Working Capital Assistance under the Single Window Scheme. Lease Financing for Machinery / Equipments. Hire Purchase Financing for Machinery / Equipments. Merchant Banking & Other Financial Services Soft Loan
Eligible Activities Assistance is available to industrial concerns engaged in or proposing to engage in the following: Manufacturing, processing or preservation of goods. Mining including Development of Mines.
Generation of Electricity or any other form of energy including wind mills. Setting up of Nursing Homes and Purchase of Electro Medical equipments by Doctors and as well as Non- medical persons. Maintenance, repair, testing, servicing of machinery or any types of vehicles, electrical and electronic equipments, etc.
Assembling, repairing or packaging of articles with the aid of machinery or power Hotels / Motels / Restaurants Purchase of Vehicles for materials / goods / transportation and for transport of passengers. Facilities for fisherman for fishing and preservation of fish including cold storage
Research and Development of any process or product in relation to any of the industrial activities Bore well Rigs / Road laying equipment / Earth Excavators Business enterprises set up by qualified professionals in management, accountancy, medicine, architecture, engineering, etc.
Limits for Financial Assistance The Corporation can provide term loan assistance upto Rs.300 lakhs to private or public Companies or registered Co-operative Societies.
In the case of proprietary or partnership concerns, the loan limit is restricted to Rs.120 lakhs.
Under leasing and hire purchase, the maximum limit of assistance is Rs.250 lakhs and the minimum is Rs.5.00 lakhs.
Jurisdiction The Corporation can provide financial assistance for setting up industrial concerns any where in the State of Tamil Nadu.
Various Schemes Available General Scheme: Under the general scheme, term loan assistance is provided for small and medium scale industrial units to set up new industries and expansion / modernisation / diversification of the existing units.
Nursing Home Scheme:The Corporation provides assistance for construction of nursing homes, and purchase of electromedical equipments, in all areas including metropolitan / Corporation areas with a minimum bed strength of 10 nos. Non medical persons are also eligible for assistance under this scheme.
Transport Operator Scheme:The Corporation provides loans for purchase of Transport vehicles viz. delivery vans, lorries, trailers, tempos etc., to operate as Commercial Goods Carrier and the purchase of autos, tourist taxis, pickup vans and passenger buses (having route permits) to be operated as Public Carriers.
Generator Scheme:Assistance is given for installation of power generating units for captive power consumption of the individual units.
Hotel Scheme:Financial assistance is considered for setting up of hotels / motels / restaurants in order to promote tourism and also for expansion and renovation of the existing hotels.
Mahila Udhayam Nidhi Scheme:Women Entrepreneurs can avail assistance to set up new projects if the project cost does not exceed Rs.10.00 lakhs.
Technology Development Fund Scheme:Government of Tamilnadu has constituted a fund for Technological Development and Modernisation of small scale industries.
The scheme is being operated by TIIC. The maximum loan limit is Rs.5.00 lakhs. Assistance could be availed for development of new products, technology input/upgradation which should result in significant benefit to Industry/economy/quality and better capacity utilisation reduction in production cost.
There should be benefit like export development or import substituion technology adoption or meet the needs of vital sectors like Defence, Space, Research etc.
TAHDCO Scheme:The Tamilnadu Adhi Dravidar Housing Development Corporation (TAHDCO) provides subsidy and margin money assistance to SC/ST entrepreneurs for setting up SSI units and purchase of Transport vehicles. Such entrepreneurs can avail financial assistance from the Corporation.
Soft Loan:TIIC also provide soft loan assistance to eligible first generation entrepreneurs who lack adequate financial resources. Soft loan is utilised to bridge the gap of minimum Promoters Contribution prescribed by the Corporation.
Warehouse / Storage Godown:To provide Warehouse/Storage facility predominantly for storing goods manufactured by SSI units thereby providing a necessary infrastructural facility to this sector.
Marketing Assistance Scheme: To provide support to SSI sector in Marketing their products.
Computer Training Institute:To set up Computer Training Institute as information technology industry is a fast developing and vital sector with good scope.
Marriage Hall / Community Hall / Conventional Centres:To provide financial assistance for construction of Marriage Halls / Conventional Centres / Community Halls, as a business development measure.
Commerical Complex:The scheme of assistance is considered as a measure of growth of SSI Service Units, Market outlet for SSI products and for small business.
Refinance Scheme for Textile Industries under Technology Upgradation Fund (RTUF):Government of India has launched Technology Upgradation Fund Scheme (TUFs) for Textile and Jute Industries for a period of 5 years with effect from 1st April 2006. SIDBI is the Nodal Agency for Small Scale units in the Textile industry and Cotton, Ginning and Pressing sectors
Guidelines to avail the Financial Assistance Registration of Application Form Information to be furnished with Application Appraisal of the Project Security Documents Terms & Conditions of Sanction Disbursement Guidelines
Application form:The entrepreneurs shall apply in the prescribed application form / format which can be downloaded from the website or obtained on payment of the amount from Head Office or Branch Offices of the Corporation together with the particulars required for the processing of the Application.
Where to lodge / deposit the Application form: For loans upto Rs.30.00 lakhs, applications are to be submitted at the concerned Branch Offices. For loans above Rs.30.00 lakhs, the applications are to be submitted at Head Office.
Investigation Fees: At the time of submission of application form, a non refundable investigation fees which is based on the amount of loan applied has to be remitted to TIIC
Government Funding and Schemes An entrepreneur requires a continuous flow of funds not only for setting up of his/ her business, but also for successful operation as well as regular upgradation/ modernisation of the industrial unit.
To meet this requirement, the Government (both at the Central and State level) has been undertaking several steps like setting up of banks and financial institutions; formulating various policies and schemes, etc. All such measures are specifically focussed towards the promotion and development of small and medium enterprises.
The public sector banks are the major source of financial assistance to the industrial sector.
They extend credit support to the firms in the form of loans, advances, discounting bills, project financing, term loans, export finance, etc. Some of the major examples of such banks are:
State Bank of India (SBI) provides a wide range of financial products and services that can cater to any business or market requirement. It deploys multiple channels to deliver integrated solutions for all financial challenges faced by the corporate universe. Its various funding schemes are:-
Working capital finance, extended to all segments of industries and services sector. Corporate term loans to support capital expenditures for setting up new ventures as also for expansion, renovation, etc. Deferred payment guarantees o support purchase of capital equipments. Project finance Structured Finance
Andhra Bankhas also devised a host of loan schemes to meet the financial requirements of an enterprise. These particularly cater to the corporate and agricultural sector. Some of its important funding options include:- Working Capital Loans Export & Import Finance Advance against Shares Term Finance Corporate Loans Project Finance Infrastructure Project Finance Kisan Vikas Card Kisan Sampathi Self Help Groups-Bank Linkage Programme Kisan Green Card
Small Industries Development Organisation (SIDO) s an apex body for promotion and development of small scale industries in the country. Its major activities include:- Advising the Government on formulation of policies and programmes for the small-scale industries. Conducting periodical census/survey of the small scale industry and generating data/reports on various important parameters/indicators of growth and development of the sector. Maintaining close liaison with other Central Ministries, Planning Commission, State Governments, Financial Institutions and other organisations concerned with the development of small-scale industries. Facilitating linkage of small-scale industries as ancillaries to large and medium scale industries. Developing human resource base through training and skill upgradation.
Technology support schemes:- NSIC offers small units various support services through its 'Technical Services Centres' and 'Extension Centres'. The services provided include advise on application of new techniques; material testing facilities through accredited laboratories; energy and environment services at selected centres; classroom and practical training for skill upgradation, etc.