BUSINESS OPPORTUNITIES
INTO REALITY
Process
of
setting
up a
Small-
Scale
Industry
Different Phases
1. Selection of a small industry and preparation
of feasibility and project reports;
2. Accommodation, power and other
infrastructural facilities;
3. Machinery;
4. Finance;
5. Marketing; and
6. Securing various incentives offered for the
development of small- scale industry.
Selection of a Small-scale Industry
INDUSTRIES TRADE
RETAIL TRADE
EXPORTS
The Winning Edge
i. The most important aspect of successful business is leadership. It
calls for clear vision, goals and objectives, well defined mission,
dash and employees participation.
ii. Adequate but well-orchestrated control. Constant feedback of
results as well as setting and adherence of high standards gives an
organization a cutting edge over others. Planning, foresight and
analysis are also important qualities.
iii. To able to extract the best from its employees through total
involvement, the organizations put a lot of emphasis on proper
internal communication and on training employees.
iv. The successful organization is one which is very close to the
market place. The process of systematic market research is used
to develop products or process and to provide value for money to
the customers. This helps to gain the market share.
i. The next most important characteristic of a winning business
organization is “Zero Basing” or sticking to the last – knowing
what business the company is in the swiftly recognizing when it
has diverted into an unsuitable path.
ii. Another important characteristics for success is a commitment to
innovation which is vital in keeping ahead of the competition and
perhaps the most difficult one to achieve. Yet, most of the
organizations just pay lip service to creativity and innovation.
They ask for new ideas and then quickly reject them and even
when a new idea is accepted, the employee rarely gets a reward
proportionate to the idea’s worth.
Incentives
i. The small Industries Development Organization (SIDO), Ministry
of Industry, Nirman Bhavan, New Delhi, co-ordinates policies and
programmes at the national level and provides a comprehensive
range of extension services through its net work of sixteen small
Industries Dervice Institutes, nineteen Branch Institute and forty-
five Extension Centres.
ii. At the State level, organizations like State Directorates of
Industries, Small Industries Development Corporations and Finance
Corporations, cater to the need of small industries; these needs
include land, sheds, credit, power, raw materials, etc.
iii. The National Small Industries corporation (NSIC), Okhla, New
Delhi, provides machines and equipment of hire purchase basis to
entrepreneurs, assist units to participate is stores purchase
programmes and provides training and prototype development
facilities.
i. The small entrepreneur should enlist himself as a
member with the NSIC. His application form should
be accompanied with the Registration Certificate and
report of the Director of Industries.