Friday, September 5, 2008

East Indian SME's

The entrepreneur and their SME's constitute an important part of the economy of East India. The SME's here constitute a quarter of India's unorganized manufacturing companies. Employment in East India's SME's constitutes approximately a third of the employment in India.

Given the critical nature of the entrepreneur to this region's economy there would be following measures taken to encourage the local climate of innovation.

1. Small Business and Entrepreneurship training institute should be started where grass root entrepreneurs can learn the basic business skills.

2. Government should help to encourage credit and lending for start-up companies.

3. Intellectual Property Rights (IPR) should be promoted and protected.

4 Red-tape should be reduced, single window system should be introduced.

5. Foreign investment should be facilitated; small companies can be service providers to foreign companies.

6. Infrastructure, connectivity enhanced.

7. Entrepreneurs should have facilities that can they rise up after failure . For this purpose,there is a need of
restructuring Bankruptcy laws

8. Government should encourage entrepreneur to start export oriented units and provide necessary support in case
they where subject to Bad debts.

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