Small Scale Industry Entrepreneurship Development and Stages for Setting Up Units
Learn about the functions of entrepreneurs, stages involved in setting up a small-scale unit, business analysis, market analysis, technical analysis, financial analysis, and economic analysis in the development of small-scale industries. Discover key steps from idea generation to implementation to ensure success in small-scale industry entrepreneurship.
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Presentation Transcript
SMALL SCALE INDUSTRY ENTREPRENEURSHIP DEVELOPMENT
Functions of Entrepreneurs Idea generation Determination of Objectives (nature & type of business) Raising of funds Procurement of raw materials Procurement of machinery Market research Determination of form of enterprise Recruitment of Manpower Implementation of the project 1. 2. 3. 4. 5. 6. 7. 8. 9.
Stages for setting up Small Scale Unit Decision to be self-employment Identification of opportunities Idea generation Screening product / service idea Concept testing Selection of the line of business Business Analysis 1. 2. a) b) c) 3.
Stages for setting up Small Scale Unit Selection of Product (Product Development) Selection of Site (Location) Purchase / lease of land / shed in industrial estate Development of plot Building the factory Selection of ownership form Preparation of the project report 4. 5. 6. 7. 8.
Business Analysis Market Analysis Technical Analysis Financial Analysis Economic Analysis Market and Demand Analysis 1. 2. 3. 4. 5.
Market Analysis Demand estimation, analysis, factors affecting demand Derived and autonomous demand Forecasting methods Marketing methods Marketing feasibility Market research
Technical Analysis Proper location of the unit Proper size of the plant Suitable process of manufacture Factory layout Organizational set-up
Financial Analysis Fixed assets of units Requirement of working capital Manufacturing cost of the product Source of finance Repayment schedule Profitability and productions statements Cash flow statements Break-even point ROI in each year
Economic Analysis Social cost benefit analysis Economic benefits and costs measured in terms of efficiency, impact project on distribution of income in society, level of saving and investment in society. Contribution of project towards fulfillment of merit wants, e.g., employment, self-sufficiency, social orders
Institutions in Aid of Entrepreneurship Development
