The small scale sector is assuming greater importance every day. Hundreds of thousands of people start their own businesses every year, and untold more dream about the possibility of becoming their own bosses. While entrepreneurship has its many potential rewards, it also carries unique challenges. You need to understand the environment to set up an enterprise of your own. Setting up a business requires many things. Understanding yourself, understanding market, availing funds are certain basic things that one must mandatorily know before making a business decision.
Startup India Stand up
Our Prime Minister unveiled a 19-point action plan for start-up enterprises in India. Highlighting the importance of the Standup India Scheme, Hon’ble Prime minister said that the job seeker has to become a job creator. Prime Minister announced that the initiative envisages loans to at least two aspiring entrepreneurs from the Scheduled Castes, Scheduled Tribes, and Women categories. It was also announced that the loan shall be in the ten lakh to one crore rupee range.
A startup India hub will be created as a single point of contact for the entire startup ecosystem to enable knowledge exchange and access to funding. Startup India campaign is based on an action plan aimed at promoting bank financing for start-up ventures to boost entrepreneurship and encourage startups with jobs creation.
Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem for nurturing innovation and Startups in the country. This will drive sustainable economic growth and generate large scale employment opportunities. The Government, through this initiative aims to empower Startups to grow through innovation and design.
What is Startup India offering to the Entrepreneurs?
Stand up India backed up by Department of Financial Services (DFS) intents to bring up Women and SC/ST entrepreneurs. They have planned to support 2.5 lakh borrowers with Bank loans (with at least 2 borrowers in both the category per branch) which can be returned up to seven years.
PM announced that “There will be no income tax on startups’ profits for three years”
PM plans to reduce the involvement of state government in the startups so that entrepreneurs can enjoy freedom.
No tax would be charged on any startup up to three years from the day of its establishment once it has been approved by Incubator.
Basically this book gives you the opportunity to choose your ideal project among the 50 projects described. Some of them are: dish antenna manufacturing unit, voltage transformer, S.M.P.S unit, sanitary article shop, screen printing, computer centre, detergent powder, liquid indigo, liquid phenyl, leather jacket, airbag and purse, handmade bricks, bamboo sticks, goat farming etc. This book also explains employment assurance scheme, how to increase the sales, knowing more about bank loan, loan facilities for women entrepreneurs, small scale service business enterprise, etc.
The book has been written for the benefit of small entrepreneurs who do not wish to invest large amount and case has been taken to present the matter in a very simple and comprehensive language so that person without much technical background can grasp the subject easily. More than 50 profitable products have been included in this book with brief project profiles, processes, addresses of machinery and raw material suppliers. This is very helpful book for new entrepreneurs, consultants, libraries etc.
