Institutional Support for Entrepreneurial Development - Overview and Objectives
Accelerating small industries' development is crucial, and governments have established institutions like District Industries Centers (DIC) to provide various support services under one roof. DIC functions include entrepreneur identification, project selection, asset purchase, and more. Additional assistance is provided to village artisans, and schemes like NAYE aim to develop young entrepreneurs by providing financial support, consultancy services, and government incentives. The objectives are to identify investment opportunities, enhance manufacturing capacities, and offer financial aid based on prepared reports. The National Institute for Entrepreneurship and Small Business Development (NIESBUD) is a key organization coordinating small business development activities in India.
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ENTREPRENEURIAL DEVELOPMENT INSTITUTIONAL SUPPORT TO ENTREPRENEURS M. ABDUL JABBAR, M.Com., NET, SET ASSISTANT PROFESSOR OF COMMERCE HAJEE KARUTHA ROWTHER HOWDIA COLLEGE (AUTONOMOUS) UTHAMAPALAYAM
INSTITUTIONAL SUPPORT TO ENTREPRENEURS INTRODUCTION: To accelerate the small industries development, central and state governments have setup a number of development institution. DISTRICT INDUSTRIES CENTERS (DIC): The DIC were established in may 1978 with object of providing all services and facilities to village and small industries under one roof.
FUNCTION OF DIC: IDENTIFICATION OF ENTREPRENEURS SELECTION OF PROJECTS PROVISIONAL REGISTRATION UNDER SSI PURCHASE OF FIXED ASSETS CLEARANCE FROM VAIOUS DEPARTMENT ASSURANCE OF RAW MATERIAL SUPPLIES
ASSISTANCE TO VILLAGE ARTISANS AND HANDICRAFTS INTREST FREE SALES TAX LOAN SUBSIDY SCHEMES TRAINING PROGRAMMES SELF EMPLOYMENT OF UNEMPLOYED EDUCATED YOUTH
NATIONAL ALLIANCE OF YOUNG ENTREPRENEURS(NAYE): NAYE sponsored an Entrepreneur s development scheme with Bank of India in 1972. This Scheme is known as BINEDS. NAYE entered into similar arrangement with a few other banks such as Dena Bank, Punjab National Bank, Central Bank of India and Union Bank of India
OBJECTIVES OF THE SCHEME It helps young entrepreneur in identifying investment and self employment opportunities It Secures proper arrangement for the development of manufacturing capacities of entrepreneurs It provides necessary financial assistance on the basis of prepared reports. It secures package of consultancy services on appropriate term. It arrange for facilities and incentives which are extended to young entrepreneurs by government and other institution.
THE NATIONAL INSTITUTE FOR ENTREPRENEURSHIP AND SMALL BUSINESS DEVELOPMENT (NIESBUD) NIESBUD is an apex body. It was setup at New Delhi in 1983 by Government of India for coordinating and overseeing the activities of various institutions and agencies engaged in the development of small business.
FUNCTIONS OF NIESBUD It conducts training programmes It organizes seminars and workshops It sets up regional and state level training institutions It interacts and exchanges views with agency of various organizations and Institutions. It trains and assists potential entrepreneurs in setting up small industries. It undertakes research work for the promotion of entrepreneurship and small business development
NATIONAL INSTITUTE OF SMALL INDUSTRIES EXTENSION TRAINING (NISIET) To develop the required man power for running small scale units, NISIET was setup in 1962. It conducts management courses for the entrepreneurs and managerial persons of small scale industries.
FUNCTIONS OF NISIET It trains the persons engaged in small scale industries It conducts research studies for small scale industrial development It provides consultancy service to entrepreneurs of small industries It enters into agreement with various organization for getting consultancy service.
KHADI AND VILLAGE INDUSTRIES (KVIC) KVIC was setup in the year 1953 with the objective of developing Khadi and Village Industries and generating rural employment opportunities.
ACTIVITY OF KVIC The following activities of KVIC are as follows: To train artisans To arrange the procurement of raw materials To market the finished products To arrange for manufacturing and distribution of improved tools, equipment and machinery to producers on concessional terms. KVIC provides financial assistance to Khadi and village industries whichever low capital intensity and also are suitable to manufacture goods by using locally available sources.
