This Book Provides A Holistic View About The Small-Scale Entrepreneur And The Problem Of Bankruptcy.

Small-scale industries are considered a harbinger of economic progress. A growing economy always needs the presence of small enterprises. In a labor-abundant and capital-scarce country like India, small-scale industries have come to occupy a significant position in the planned industrialization of the economy. Ever since the announcement of the Industrial Policy Resolution of 1948, India's small-scale industries have occupied a prominent place in the overall strategy of industrial development. Successive Five Year Plans have allocated increasing resources for the development of small industries. In view of the abundance of labor, scarcity of capital, and rural nature of the economy, the preference for small industries is natural. In the wake of the globalization wave sweeping around the world, new opportunities and challenges have emerged for the small industries. Appropriate policies are needed to meet these challenges to sustain the growth of small industries. This book explores policies and issues of India's small-scale industries.

Contributed seminar articles with special reference to India.

The present book meticulously analyses the multi-faceted issues and elements of the Modern Small Scale Industrial Sector, based on the findings of the author's PhD dissertation. MSMEs (micro, small, and medium enterprises) are India's economic backbone. They create large-scale jobs right away, provide a more equitable distribution of national revenue, and make it easier to mobilise resources, both capital and labour, that would otherwise go unused. The importance of promoting, modernising, and reorganising these businesses cannot be overstated. Not only does the type of activity, but also the size, geographical location, and structure of these businesses affect their demands, difficulties, and potential. Despite the fact that the Indian government offers a variety of fiscal and monetary incentives for MSMEs, many of these businesses lack current technology, competent staff, enough bank credit, and an ineffective marketing network. All of these limits have resulted in a high-cost structure, putting this industry at a competitive disadvantage when compared to large sectors.

The vibrancy of an economy depends on the constant flow of entrepreneurs who can take up challenges in business and industry. An entrepreneur is one of the important segments of economic growth. Schumpeter observes that economic development consists of employing resources in a different way in doing a new combination of means of production. He contends that economic growth depends on the rate of applied technical progress i.e. innovation rate of applied technical progress in the economic field which in turn depends on supply of entrepreneurs in society. Thus entrepreneur becomes the agent of change in society[1]. Entrepreneur’s motivations & aspirations are conducive to development. Entrepreneurial competence makes all the difference in the rate of economic growth. A broad based entrepreneurial class in India is a felt need and such an entrepreneurial class would speed up the process of activating the factors of production leading to a higher rate of economic growth dispersal of economic activities, development of backward & rural tribal areas, creation of employment opportunities, improvement in the standard of living of the weaker sections of the society and involvement of all sections of the society in the process of growth[2]. An entrepreneur plays a critical role in the process of socioeconomic change by envisaging new opportunities new techniques, new products & by coordinating all other activities.

Part 'A' : Foundations of Business 1. Nature and Purpose of Business 2. Classification of Business Activities 3. Forms of Business Organisations : Sole Proprietorship 4. Joint Hindu Family Business 5. Partnership 6. Cooperative Societies 7. Joint Stock Company 8. Choice of Form of Business Organisations and Starting a Business 9. Private and Public Sector/Enterprises 10. Forms of Organising Public Sector Enterprises and Changing Role of Public Sector 11. Global Enterprises (Multinational Companies) Joint Venture and Public Private Partnership 12. Business Services – I Banking 13. Business Services – II Insurance 14. Business Services – III Communication : Postal and Telecom 15. Business Services – IV Warehousing 16. Transportation 17. E-Business and Outsourcing Services 18. Social Responsibility of Business and Business Ethics Part 'B' : Corporate Organisation, Finance and Trade 19. Formation of a Company 20. Sources of Business Finance 21. Small Business 22. Internal Trade 23. External Trade or International Business 24. Project Report Value Based Questions [(VBQ) With Answers] Latest Model Paper Board Examination Paper