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National Small Industries Corporation (NSIC) - Entrepreneurship & Small Businesses | Entrepreneurship & Small Businesses - B Com PDF Download
National Small Industries Corporation (NSIC)
It was set up in 1995 to provide machinery to small scale units on hire purchase basis and to assist these units in obtaining orders from government departments and officies. Its head office is at Delhi. It has four regional offices at Delhi, Mumbai, Chennai and Calcutta. It has eleven branch offices also.
Functions of National Small Industries Corporation
Its functions are as follows:
1) To develop small scale units as ancillary units to large scale industries
2) To impart training to industrial workers.
3) To market the product of SSIs at home and abroad.
4) To help the small scale industries in procurement of scarce and imported raw material.
5) To obtain orders for SSI units from government department and offices.
6) To provide machinery to SSI units on hire purchase basis.
7) To construct Industrial Estate and establish and run proto- type production- cum- training centres.
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FAQs on National Small Industries Corporation (NSIC) - Entrepreneurship & Small Businesses - Entrepreneurship & Small Businesses - B Com
| 1. What is the role of the National Small Industries Corporation (NSIC) in promoting entrepreneurship and small businesses? |  |
Ans. The National Small Industries Corporation (NSIC) plays a vital role in promoting entrepreneurship and small businesses by providing various support services such as marketing assistance, technology support, credit facilitation, and training programs. They aim to enhance the competitiveness of small industries and help them grow and thrive in the market.
| 2. How does NSIC provide marketing assistance to small businesses? | |
Ans. NSIC provides marketing assistance to small businesses by participating in domestic and international trade fairs, organizing buyer-seller meets, and arranging for the registration of micro and small enterprises (MSEs) on e-commerce portals. They also help MSEs in showcasing their products and services through exhibitions and promotional campaigns.
| 3. What types of technology support does NSIC offer to small businesses? | |
Ans. NSIC offers various technology support services to small businesses, including the provision of raw material testing, product testing, and calibration facilities. They also facilitate the adoption of modern technologies through the establishment of Common Facility Centers (CFCs) and Technology Business Incubators (TBIs) to enhance the productivity and quality of small industries.
| 4. How does NSIC facilitate credit for small businesses? | |
Ans. NSIC facilitates credit for small businesses by providing them with various financial assistance schemes, such as the Single Point Registration Scheme (SPRS) and the Performance and Credit Rating Scheme (PCRS). These schemes help MSEs in obtaining bank loans and credit facilities at competitive rates, enabling them to meet their working capital and investment requirements.
| 5. What training programs does NSIC offer to entrepreneurs and small business owners? | |
Ans. NSIC offers a wide range of training programs for entrepreneurs and small business owners, including skill development programs, entrepreneurship development programs, and management development programs. These programs aim to enhance the managerial and technical skills of small business owners, enabling them to effectively manage and grow their enterprises.
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