Page 201 - DMGT310_ENTREPRENEURSHIP_AND_SMALL_BUSINESS_MANAGEMENT

Entrepreneurship and Small Business Management

Notes Promoting Entrepreneurship

NIESBUD has helped Central and State Governments and their agencies in promoting
entrepreneurship in their respective areas by way of guidance, consultancy, etc. It has also
provided support and guidance to various countries in Asia and Africa.
NIESBUD has recently organized more than 100 Workshops in different Engineering Colleges,
Management Institutions and others in order to create awareness among the students and faculty
in realizing the power of entrepreneurship. Thousands of students and hundreds of Faculties
realized that the ultimate need of the country is not only to create another employee rather to
establish entrepreneurs who will in turn provide employment to many persons.

Notes Till the end of 2010–11, the Institute has trained more than 75,000 persons including
2100 from 125 countries and plans to conduct 8 international training programmes for
training 200 participants from 25 Countries in 2011–12 the Institutes will also train at least
40,000 persons in employable skills and will strive for the wage and self employment of
at least 10,000 participants.

Self Assessment

Fill in the blanks:
1. The Office of the Development Commissioner (Small Scale Industries) is also known as
the………………..
2. ………………..continues to implement its various programmes and projects throughout
the country to assist the SSI units.
3. The ……………….. is a statutory body created by an Act of Parliament in April 1957.
4. ……………….. is done mainly to facilitate SMEs to expand their capacities or diversify
and/or upgrade their technology according to the needs of the market.
5. The ……………….. have been identified on the basis of market needs to ensure maximum
employment.

13.2 State Level Institutions

State Level Institutions execute different promotional and developmental projects/schemes and
provide a number of supporting incentives for development and promotion of small scale
sector in their respective States. These are executed through State Directorate of Industries, who
has District Industries Centres (DICs) under them to implement Central/State Level schemes.
The State Industrial Development Corporations also look after the needs of the small-scale
sector.

13.2.1 State Industrial Development Corporations (SIDCs)

Incorporated under the companies Act, 1956 SIDC’s were set up in different states as wholly
owned companies for promoting industrial development in their respective states. The main
functions of SIDC’s are as follows:
(a) Providing term finance to all small, medium and large industrial enterprises set up in
state.
(b) Underwriting and directly subscribing to shares, and debentures of debentures of industrial
enterprises being set up in the state.

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