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National Small Industries Corporation(NSIC), Entrepreneurship & Small Businesses Video Lecture | Entrepreneurship & Small Businesses - B Com

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FAQs on National Small Industries Corporation(NSIC), Entrepreneurship & Small Businesses Video Lecture - Entrepreneurship & Small Businesses - B Com

1. What is the National Small Industries Corporation (NSIC)?
Ans. The National Small Industries Corporation (NSIC) is a government agency in India that promotes, supports, and assists in the growth and development of micro, small, and medium enterprises (MSMEs). It provides various services such as marketing support, technology support, credit support, and more to help MSMEs thrive in the competitive market.
2. What is the role of NSIC in entrepreneurship and small businesses?
Ans. NSIC plays a crucial role in promoting entrepreneurship and supporting small businesses. It offers a range of services including the provision of raw materials, machinery on hire-purchase, export facilitation, credit ratings, and various training programs to enhance the skills and capabilities of entrepreneurs. It also assists in marketing products and services by participating in trade fairs and exhibitions.
3. How does NSIC support small businesses in terms of credit and finance?
Ans. NSIC provides credit and finance support to small businesses through various schemes. It facilitates the availability of bank loans by acting as a facilitator between MSMEs and financial institutions. It also offers a scheme called "Single Point Registration" (SPR) which enables small businesses to get collateral-free credit limits from banks. Additionally, NSIC provides financial assistance for the procurement of raw materials and equipment.
4. What kind of technology support does NSIC offer to small businesses?
Ans. NSIC offers technology support to small businesses through its Technical Services Centers (TSCs). These centers provide technical consultancy services, quality testing and calibration facilities, tooling support, and training on the latest technologies. NSIC also assists in technology upgradation by facilitating collaborations between small businesses and research institutions.
5. How can small businesses benefit from NSIC's marketing support?
Ans. NSIC provides marketing support to small businesses by promoting their products and services in both domestic and international markets. It organizes exhibitions, trade fairs, buyer-seller meets, and vendor development programs to create business opportunities for small enterprises. NSIC also assists in product branding, market research, and identification of potential buyers, thereby helping small businesses expand their reach and customer base.
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