1.6 Small Business Entrepreneurship
Small businesses play an important role in the growth and development of industrial activities. The amount of investment in small business is low and easily acceptable due to high productivity. Businesses available for industrialization can be divided into three main categories -
(i) Department of Industry
Small plays an important role in the industrial sector. Small industries are usually formed to supply raw materials to medium and large industrial enterprises. An example can be taken of a car manufacturing company as a manufacturing company in a large industry. Thousands of parts are used to make a motor vehicle. Among these, the parts that can be easily done by the small scale industry are assigned to the small scale industry. For example - electrified parts.
Small scale companies are always assigned to make furniture such as tables, chairs, desks, etc. for use in the offices of all government agencies. Even chalk used in schools, colleges, universities is supplied by small scale industries. There are 384 items identified by the government to be produced in small scale industries, which are not allowed to be produced in any way by large or medium scale enterprises.
(ii) Department of Agriculture and Related Industries
This section is very important to encourage the people living in the villages to enter the industry. Rural industrialists can take advantage of various opportunities in agriculture and inclusive industries. Among these, processing and marketing of agricultural products is a useful industry.
(iii) Services Department
The service department is specially identified because the individuals involved in this profession conduct business by self-efficacy. In the service sector, hotel management, travel management and national issues have multiplied in the last one decade. The special technical skills and knowledge of an entrepreneur are the main considerations for starting a business like providing services. In many cases the amount of capital to start a business is very low. Remember, one has acquired special training and skills in the rest of the refrigeration and air conditioning. That person can start a business by allocating a little space in the market or at his residence. Nowadays, households in almost every village in the city or suburbs use refrigerators and air conditioners. Naturally, these national instruments are prone to malfunction due to various reasons. But a little research will show that there is a skilled mechanic in the whole area. So an unskilled person can be successful in running such a successful business by acquiring training and skills in a year.
