To be your own boss entails being in charge of every component of your company, from administrative tasks to managing your company website to finding potential clients to the work itself. Entrepreneurs must be adaptable and inclined to take on new roles as they arise, particularly in the early stages. If you are ready to start your own business Entrepreneur India has assisted dozens of entrepreneurs in getting up and running quickly – and affordably. Micro and small scale industries are the lifeblood of the Indian economy, providing numerous job opportunities for qualified workers. After all, small-scale industries are critical to the economy, both financially and socially.
The most exciting aspect is it is simple and profitable to start a small manufacturing business. You can start your own manufacturing business and operate it from a small space. Because the initial investment required to start a small or micro manufacturing business is minimal.
Manufacturing/production, ancillary, and service industries are the three types of small scale industries.
• Manufacturing Industries: Units that manufacture finished goods for consumption or use in other industries. These small-scale industries are typically owned by individuals. Power looms, engineering industries, food processing, and other small-scale industrial sectors are examples.
• Ancillary Industries: Large corporations or multinational corporations manufacture finished products, but they do not typically manufacture all of the parts themselves. These firms' vendors are from ancillary industries. Ancillary industries are also those that manufacture machines for multinational corporations or medium-sized businesses.
• Service Industries: Electronics stores and construction industries are examples of service industries. Aside from these industries, there are feeder sectors and mining or quarries.
List Of Small Scale Industries
Manufacturing industries grow quickly on a small scale due to a natural suppliers of raw materials and a high public demand. In south India, the summit held in January 2019, at which KSSIA (Karnataka Small Scale Industries Association) was also present, had the goal of discussing key issues and finding solutions while also providing the right environment for progress and expansion. Spinning and weaving, coconut oil production, cashew nut processing, clay products, and other small scale industries are important in Tamil Nadu and Kerala. Because of various giant enterprises, small scale ancillary industries in Hyderabad employ a large number of people.
Foreign investment is critical because it generates a large number of ancillary small-scale industries, thereby creating jobs. Agarbatti making, Chalk making, Biodiesel production, Sugar candy manufacturing, Wood making, Rice mill, Potato chips making, Toys making, Microbrewery, Liquid soap making, Honey processing, Slippers making, Detergent powder making, Fruit juice production plant, Spices making, and Chocolate making are some examples of small scale industries.
There are government entities in place to look after the interests of small-scale industry members. The Ministry of Small And Medium enterprises creates policies, schemes, and programmers to help small businesses thrive. The Ministry of Agriculture and Rural Development coordinates and assists in the development of villages and khadi industries, as well as micro and tiny industries in developing and developed countries.
Features Of Small Scale Industries
· Ownership: These units are typically owned by a single person. As a result, it is a sole proprietorship or, in some cases, a partnership.
· Management: In most cases, the owner/owners takes full charge of both management and control. As a result, the owner is actively involved in the day-to-day operations of the business.
· Reach: Micro enterprises have a limited operational area. As a result, they meet both local and regional demand.
· Adaptability: These units are more adaptable and flexible in their business environment. As a result, in the event of sudden changes or unexpected developments, they are adaptable enough to continue on. This advantage is not available to large industries.
· Resources: They make use of locally available and easily accessible resources. This also benefits the economy by allowing for more efficient allocation of resources and less waste.
As of today, the macro and small scale industry, which consists of 36 million units, employs more than 80 million people. The sector, which includes over 6,000 products, contributes approximately 8% of GDP, as well as 45 percent of total manufacturing output and 40 percent of total exports from the country. The MSME sector plays an important role to spread industrial growth throughout the country and can be an important partner in the inclusive growth process.
Entrepreneur India is here to help every entrepreneur to break down all aspects of a project into time phases and schedule them with more detailed and accurate cost estimates deviations from the feasibility report with explanations, providing a better basis for presumptions and calculations. We also help to create baselines for controlling time and cost during implementation process. As an entrepreneur you can completely rely on us as we have all of the technical and resource requirements for implementing the project.