Characteristics of a Small Business House - Business Studies (BST), CBSE Class 11 Video Lecture - Commerce

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characteristics of a small business
house meet Nina she runs an embroidery
unit manufacturing chicken work and
beautiful garments she has been in the
business for the past ten years
initially Nina found it difficult to run
her business but today she employs
around 15 to 20 women and is already
planning to set up another unit
beautiful chicken Apparel's from her
business unit our Stockton many a
boutique all over the country naina runs
a small business small businesses are an
integral part of the Indian economy
which brings us to the next question how
do we define a small business what is
the criteria for a business to be
classified as a small business what is a
small business in India the village and
small industry sector consists of both
traditional and modern
small industries this sector has eight
sub groups they are handlooms
handicrafts Koya sericulture khadi and
village industries small-scale
industries and par looms
there are three common criterias on
which the size of a business is measured
they are one the number of people
employed to the amount of capital
invested 3 the value of annual sales
turnover in India at present small-scale
industries are defined and classified on
the basis of total investment in plant
and machinery it is worth noting that
small businesses contribute almost 40%
of the gross industrial value added in
the Indian economy taking capital
invested as the base small business
units in India can be divided into the
following categories small-scale
industry ancillary small industrial unit
export oriented units small scale
industries owned and managed by women
entrepreneurs tiny industrial units
small scale service and business
micro business enterprises village
industries cottage industry
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characteristics of a small business are
as follows personal character
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independent management limited
investment
simple technology local area of
operations
administrative setup for the small-scale
I grow and rural industries the
government of India created the Ministry
of small-scale industries and agro and
rural industries as the nodal Ministry
for the promotion and development of
small-scale industries in India the
Ministry was bifurcated into two
separate ministries namely Ministry of
small-scale industries and ministry of
agro and rural industries in September
2001 the Ministry of small industries
designs policies programs and schemes
for the promotion and growth of
small-scale industries the small
industries development organization or
si D o also known as the office of the
Development Commissioner or SSI which is
attached to this ministry is responsible
for implementing and monitoring of
various policies and programs formulated
Ministry of agro and rural industries is
the nodal agency for coordination and
development of village and kadhi
industries tiny and micro enterprises in
both urban and rural areas it also
implements Prime Minister's Road garage
now the various policies programs and
schemes related to agro and rural
industries are implemented by the
ministry through the khadi and village
industries commission or KVIC
handicrafts port Koya bought silk board
etc state government's role in supports
to small-scale industries state
governments also provide a number of
supporting incentives for development
and promotion of SSIS in their
respective states
these are executed through the state
directorate of industries who has
district industry centers or di seas
under it to implement central or state
level schemes people like Nana runs
small businesses
their businesses may be very small and
they may not have the necessary
infrastructure as compared to huge
business conglomerates what they do
possess is the determination to succeed
in the face of all obstacles and the
strength to overcome hurdles they are
the drivers of the Indian economy they
are the unsung heroes of the economy